11200 Walsingham Rd #139 · Largo, FL 33778

$199,000

2 bd · 2.0 ba · 1,475 sqft · Manufactured public records · 1 Days on market

Built 2003 16 ac lot $190/mo HOA · 8% 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 +19.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +6.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Located in the highly desirable Boca Ciega Mobile Home Park community in Largo, this spacious 2-bedroom + flex room, 2-bath manufactured home offers 1,475 square feet of comfortable Florida living. The versatile flex room is perfect for a home office, hobby space, guest room, or den to fit your lifestyle needs. Step inside to find an open and inviting floor plan filled with natural light, generous living and dining areas, and plenty of storage throughout. The well-appointed kitchen offers ample cabinetry and workspace, making entertaining easy and enjoyable. The primary suite features a private bath and spacious closet, while the second bedroom provid

Key facts

• Open floor plan
• Private bath
• Community amenities

Tags

• FLEX ROOM
• OPEN FLOOR PLAN
• WELL-APPOINTED KITCHEN
• PRIVATE BATH
• CONVENIENT LOCATION
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Manufactured Home; Body type: Double Wide; Zoning: R-6; Lot size approximately 15.8 acres
• Financial info: Total monthly fees reported as $190; Total annual fees reported as $2,280; Lease restrictions apply
• HOA & community: HOA required (Holiday Isles / PH Peters) with $190 monthly fee; Association approval required; Senior community; No pets allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Cable connected; No water source listed
• Home design: Manufactured home (double wide); One level; Faces south
• Construction: Vinyl siding; Shingle roof; Other foundation
• Exterior features: Sliding doors; Asphalt road access

Interior

• Kitchen: Range; Dishwasher; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; 9 total rooms
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 7.7% 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 (+1.4%/yr); 139 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 42% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $15k; list at $199k implies a 1227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.38% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-20,963
• Equity at exit: $29,672

10-year hold

• IRR: -3.8%
• Equity multiple: 0.77×
• Total profit: $-13,069
• Equity at exit: $17,206

Cash invested: $55,720 (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 33778

• Rents YoY: 1.4%
• Active inventory: 139
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$240 /mo · $2,878/yr
• Insurance: −$83
• HOA: −$190
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $232

Break-even live

Break-even rent $1,970

Max offer price $199,000

Occupancy floor 85%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	24d	1	0.25mi
11707 108th St Unit 1018171P Largo, FL	3.0	2.0	1259	$3,119	$2.48	3d	1	0.28mi
11290 109th Ln Largo, FL	2.0	1.0	988	$1,995	$2.02	24d	1	0.30mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	4d	2	0.38mi
10887 111th Pl N Largo, FL	3.0	2.0	1300	$2,389	$1.84	21d	1	0.42mi
10560 114th Ter Largo, FL	3.0	1.0	1232	$3,000	$2.44	4d	1	0.47mi
10495 118th Ave Largo, FL	3.0	2.0	1169	$2,250	$1.92	4d	1	0.56mi
10580 112th Ave Largo, FL	3.0	1.0	925	$1,995	$2.16	4d	1	0.57mi
11557 124th Ter Largo, FL	3.0	2.0	1601	$3,495	$2.18	17d	1	0.60mi
10659 108th St Largo, FL	3.0	1.5	1380	$2,550	$1.85	24d	1	0.69mi
12217 104th Ln Largo, FL	3.0	2.0	1534	$2,495	$1.63	4d	1	0.72mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	24d	1	0.75mi
11704 127th Ave Largo, FL	3.0	2.0	1311	$2,345	$1.79	4d	1	0.81mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	24d	1	0.82mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	20d	1	0.82mi
12261 Sailwinds Dr #203 Largo, FL	3.0	2.0	1139	$1,800	$1.58	4d	1	0.84mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	24d	1	0.84mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	2d	1	0.86mi
12293 Sailwinds Dr #203 Largo, FL	3.0	2.0	1155	$2,050	$1.77	13d	1	0.86mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	24d	2	0.87mi
10100 Sailwinds Blvd N #206 Largo, FL	3.0	2.0	1155	$1,850	$1.60	3d	1	0.90mi
11114 101st Ave Seminole, FL	2.0	1.0	1135	$2,300	$2.03	4d	1	1.02mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	7d	1	1.05mi
13250 Ridge Rd Unit 3B1 Largo, FL	3.0	2.0	1225	$1,975	$1.61	17d	1	1.07mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	7d	1	1.09mi
9924 109th St Seminole, FL	3.0	2.0	1428	$2,500	$1.75	4d	1	1.12mi
9881 113th St #215 Seminole, FL	2.0	2.0	1150	$1,600	$1.39	17d	1	1.15mi
9814 110th Ln Seminole, FL	2.0	2.0	1750	$2,500	$1.43	2d	1	1.16mi
9814 110th Ln Seminole, FL	2.0	2.0	1750	$2,600	$1.49	4d	1	1.16mi
11938 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	1.24mi
11938 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	16d	1	1.24mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	7d	1	1.25mi
11960 133rd Ave Unit 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	1.25mi
11013 Temple Ave Seminole, FL	3.0	1.0	951	$2,050	$2.16	4d	1	1.26mi
11980 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	1.26mi
11980 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	16d	3	1.26mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	4d	1	1.27mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	2d	23	1.28mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	24d	1	1.29mi
13225 101st St #116 Largo, FL	2.0	2.0	1152	$1,600	$1.39	4d	1	1.31mi

HOA detail

• Monthly dues: $190 · $2,280/yr

Listing history 3 events

1. 2026-05-19
   status Pending
2. 2026-05-18
   listed $199,000 Active
3. 2005-01-01
   soldstatus $15,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,878 · $240/mo
• Projected year-2 tax: $2,878 · $240/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥107°F today · 17 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: $27,162
• − Mortgage interest: −$11,147
• − Property taxes: −$2,878
• − Insurance: −$995
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − HOA: −$2,280
• − Depreciation: −$5,789
• Taxable loss: −$273
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $2,848/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

• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 16,807
• Household income: $65,355
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 261.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 6%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 10% Vietnamese 1% French/Haitian/Cajun 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: ▼ -320.64%
• Current HPI: 369.3008
• Rent YoY: ▲ 1.38%
• 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

+1226.7% since first listed

3 events — show timeline

• 2026-05-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-18 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2005-01-01 Sold (Public Records) $15,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,878 · +11.5% YoY. Source: county tax records.