11485 Oakhurst Rd Unit -204 · Largo, FL 33774

$85,000

1 bd · 1.0 ba · 630 sqft · Condo · 138 Days on market

Built 1974 $600/mo HOA · 36% of rent

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lowest priced in the Entire Complex! This 1 Bedroom, 1 Bath condo in the much desired WatersEdge 55+ Community. Winterized lanai adds perfect amount of square footage. Whether looking for a winter retreat or a full time home, this Community has it all. WatersEdge is beautifully maintained and conveniently located near shopping, dining, and major roadways, with quick access to Walsingham Road and Indian Rocks Beach. Perfect for full-time residents or seasonal snowbirds seeking a low-maintenance coastal lifestyle. * * HOA fee covers cable, internet, phone, water, sewer, trash, grounds maintenance, pool maintenance, and exterior building maintenance. * * No Special Assessments + Milestone

Key facts

• Winterized lanai
• Flood zone x
• $600 HOA

Tags

• WINTERIZED LANAI
• ACCESS TO INDIAN ROCKS BEACH
• FLOOD ZONE X

Property features AI

Finance

• Other: Unfurnished; No lease restrictions
• Financial info: Total monthly fees $600; total annual fees $7,200
• HOA & community: HOA required; monthly fee $600; HOA includes cable TV, common area taxes, and pool; Association approval required; Association contact: Peter Hanke; Clubhouse; Senior community; Cats and dogs allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected
• Home design: Condominium; Single-story; Faces west; Located on 2nd floor (unit number 204)
• Construction: Stucco construction; Shingle roof; Built on block foundation
• Exterior features: Dog run; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate; Block foundation
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Building has elevator
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.2% in Largo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities F.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.0%/yr); 210 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $65k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.99% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-5,640
• Equity at exit: $12,674

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $2,096
• Equity at exit: $7,349

Cash invested: $23,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33774

• Rents YoY: 2.0%
• Active inventory: 210
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$600
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $148

Break-even live

Break-even rent $1,503

Max offer price $85,000

Occupancy floor 86%

Sensitivity live

Price	-10% $206	-5% $177	+0% $148	+5% $118	+10% $89
Rent	-10% $14	-5% $81	+0% $148	+5% $214	+10% $281
Rate	-1.0pp $190	-0.5pp $169	base $148	+0.5pp $126	+1.0pp $103

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 Walsingham Rd Largo, FL	1.0–4.0	1.0–2.0	1060	$1,395	$1.32	25d	1	0.47mi
14531 Walsingham Rd Largo, FL	2.0	1.0–2.0	657	$2,200	$3.35	25d	3	0.62mi
12760 Indian Rocks Rd Largo, FL	1.0–2.0	1.0–2.0	923	$1,450	$1.57	5d	6	0.96mi
12800 Vonn Rd Largo, FL	1.0–2.0	1.0	810	$1,185	$1.46	3d	16	0.98mi
13125 Wilcox Rd Largo, FL	1.0–2.0	1.0–2.0	840	$1,533	$1.82	3d	8	1.21mi
717 E Gulf Blvd Apt 2 Indian Rocks Beach, FL	—	1.0	400	$1,500	$3.75	21d	1	1.29mi
720 E Gulf Blvd Unit B Indian Rocks Beach, FL	2.0	1.0	748	$2,600	$3.48	21d	1	1.32mi
206 Bates Ave Unit E Indian Rocks Beach, FL	1.0	1.0	600	$1,945	$3.24	5d	1	1.33mi
2200 Gladys St Largo, FL	1.0–2.0	1.0–1.5	677	$1,095	$1.62	25d	1	1.40mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: watersewertrashinternetcablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $85,000 Active 138 DOM
2. 2026-06-17
   days on market $85,000 Active 137 DOM
3. 2026-06-16
   days on market $85,000 Active 136 DOM
4. 2026-06-15
   days on market $85,000 Active 135 DOM
5. 2026-06-13
   days on market $85,000 Active 133 DOM
6. 2026-06-09
   days on market $85,000 Active 129 DOM
7. 2026-06-08
   days on market $85,000 Active 128 DOM
8. 2026-06-07
   days on market $85,000 Active 127 DOM
9. 2026-06-04
   days on market $85,000 Active 124 DOM
10. 2026-06-03
    days on market $85,000 Active 123 DOM
11. 2026-06-01
    days on market $85,000 Active 121 DOM
12. 2026-05-31
    days on market $85,000 Active 120 DOM
13. 2026-05-05
    status Active
14. 2026-05-01
    historical
15. 2026-01-22
    listed $85,000 Active
16. 2016-04-30
    historical
17. 2016-04-01
    price $87,900
18. 2015-12-30
    listed $89,900 Active
19. 2015-06-02
    historical
20. 2014-06-14
    status Active
21. 2014-06-10
    historical
22. 2014-06-05
    price $79,500
23. 2014-06-04
    listed $84,000 Active
24. 2007-06-27
    historical
25. 2007-03-05
    listed $97,500
26. 2006-03-30
    listed $99,000
27. 2004-12-03
    soldstatus $65,000
28. 2004-11-15
    historical
29. 2004-08-16
    listed $67,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,280
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − HOA: −$7,200
• − Depreciation: −$2,473
• Taxable income: $901
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $1,556/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,799
• Household income: $79,139
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 546.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 7% Lithuanian 4% Hispanic 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.61%
• Current HPI: 336.629
• Rent YoY: ▲ 2.01%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+25.2% since first listed

17 events — show timeline

• 2026-05-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2016-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-04-01 Price Changed $87,900 Stellar MLS as Distributed by MLS Grid
• 2015-12-30 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2015-06-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-05 Price Changed $79,500 Stellar MLS as Distributed by MLS Grid
• 2014-06-04 Listed $84,000 Stellar MLS as Distributed by MLS Grid
• 2007-06-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-03-05 Listed $97,500 Stellar MLS as Distributed by MLS Grid
• 2006-03-30 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2004-12-03 Sold (MLS) $65,000 Stellar MLS as Distributed by MLS Grid
• 2004-11-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-08-16 Listed $67,900 Stellar MLS as Distributed by MLS Grid