12651 Seminole Blvd Unit 15I · Largo, FL 33778

$165,000

2 bd · 2.0 ba · 1,128 sqft · Manufactured public records · 70 Days on market

Built 1972 38 ac lot Est $153k · 8% over $300/mo HOA · 15% 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 +22.9/30.0
• DSCR +7.4/10.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• ARV discount +4.1/15.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy Florida living in this beautifully updated double-wide home located in the vibrant 55+ community of Pointe West, just steps from the sparkling shores of Lake Seminole. Enjoy exclusive lake access complete with a private dock and boat slips—perfect for relaxing days on the water or taking in breathtaking sunsets. This spacious 2-bedroom, 2 full bathroom home showcases quality craftsmanship throughout, featuring all-wood custom cabinetry with soft-close drawers and under-cabinet lighting. The thoughtfully designed kitchen is equipped with a gas stove, double oven, built-in microwave, and a convenient double sink, along with roll-out shelving in the base cabinets and pant

Key facts

• Custom cabinetry
• Boat slips
• Private dock

Tags

• EXCLUSIVE LAKE ACCESS
• PRIVATE DOCK
• BOAT SLIPS
• CUSTOM CABINETRY
• SOFT-CLOSE DRAWERS
• UNDER-CABINET LIGHTING

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total monthly fees $300; total annual fees $3,600
• HOA & community: Has HOA (monthly fee $300); Association amenities include clubhouse, pool, shuffleboard court, laundry, maintenance, grounds maintenance, management, trash service; Association fee includes common area taxes, pool, escrow reserves fund, maintenance of grounds, management, sewer, trash and water; Association approval required; Buyer approval required; Deed restrictions; Golf carts allowed; Sidewalks and street lights; Senior community; Pets not allowed

Exterior

• Parking: Covered parking; Driveway; Golf cart parking; 2-space carport
• Security: Pool lighting (exterior lighting for pool area)
• Utilities: Public sewer; Water connected; Electricity connected; Propane available; Cable available; Phone available; Sewer connected
• Home design: Residential mobile home (double wide); One story; North-facing
• Construction: Vinyl siding; Roof over; Other foundation
• Exterior features: Private mailbox; Sidewalk; Sliding doors; Shed(s); Child safety pool fence

Interior

• Kitchen: Built-in oven; Range; Microwave; Dishwasher; Disposal; Refrigerator; Ice maker
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Parquet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Ceiling fans; Living room/dining room combo; Solid wood cabinets; Thermostat; Walk-in closet(s); Window treatments (drapes, shades, rods)
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% 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 (+1.4%/yr); 139 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 37% 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 $5k 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 70 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $153,408
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13225 101st St #350	0.39mi	2/2.0	1,152 (+2%)	18mo	$80,000	$69	63
13225 101st St #363	0.39mi	2/2.0	1,239 (+10%)	7mo	$190,000	$153	60
9900 Ulmerton Rd #236	0.58mi	2/2.0	1,152 (+2%)	13mo	$172,500	$150	59
13225 101st St #411	0.39mi	2/2.0	1,056 (-6%)	18mo	$115,000	$109	56
12240 Seminole Blvd #14	0.46mi	2/2.0	1,032 (-8%)	11mo	$35,000	$34	55
9900 Ulmerton Rd #214	0.58mi	2/2.0	1,152 (+2%)	20mo	$156,500	$136	52
13225 101st St #166	0.39mi	2/2.0	960 (-15%)	7mo	$152,500	$159	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-11,361
• Equity at exit: $24,602

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,578
• Equity at exit: $14,266

Cash invested: $46,200 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,019 high
• Mortgage (P&I): −$865
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$69
• HOA: −$300
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $290

Break-even live

Break-even rent $1,652

Max offer price $165,000

Occupancy floor 81%

Sensitivity live

Price	-10% $384	-5% $337	+0% $290	+5% $244	+10% $197
Rent	-10% $131	-5% $210	+0% $290	+5% $370	+10% $450
Rate	-1.0pp $373	-0.5pp $332	base $290	+0.5pp $247	+1.0pp $204

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	25d	1	0.03mi
12261 Sailwinds Dr #203 Largo, FL	3.0	2.0	1139	$1,800	$1.58	5d	1	0.24mi
12293 Sailwinds Dr #203 Largo, FL	3.0	2.0	1155	$2,050	$1.77	14d	1	0.25mi
10100 Sailwinds Blvd N #206 Largo, FL	3.0	2.0	1155	$1,850	$1.60	4d	1	0.34mi
13225 101st St #116 Largo, FL	2.0	2.0	1152	$1,600	$1.39	5d	1	0.49mi
10495 118th Ave Largo, FL	3.0	2.0	1169	$2,250	$1.92	5d	1	0.49mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	3d	1	0.51mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	25d	2	0.53mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	25d	1	0.58mi
11707 108th St Unit 1018171P Largo, FL	3.0	2.0	1259	$3,119	$2.48	3d	1	0.62mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	5d	2	0.71mi
10560 114th Ter Largo, FL	3.0	1.0	1232	$3,000	$2.44	5d	1	0.74mi
9925 Ulmerton Rd #74 Largo, FL	2.0	1.5	1140	$1,800	$1.58	18d	1	0.80mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	3d	23	0.80mi
10580 112th Ave Largo, FL	3.0	1.0	925	$1,995	$2.16	5d	1	0.88mi
11290 109th Ln Largo, FL	2.0	1.0	988	$1,995	$2.02	25d	1	0.90mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	25d	1	0.91mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	8d	1	0.95mi
667 Sugar Palm St Largo, FL	2.0	2.0	1296	$2,500	$1.93	3d	1	0.99mi
10887 111th Pl N Largo, FL	3.0	2.0	1300	$2,389	$1.84	22d	1	1.00mi
775 Royal Palm Cir Largo, FL	2.0	2.0	1008	$1,700	$1.69	4d	1	1.01mi
13250 Ridge Rd Unit 3B1 Largo, FL	3.0	2.0	1225	$1,975	$1.61	18d	1	1.03mi
253 Sago Palm St Largo, FL	2.0	2.0	1000	$1,295	$1.29	25d	1	1.04mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	25d	1	1.06mi
11704 127th Ave Largo, FL	3.0	2.0	1311	$2,345	$1.79	5d	1	1.10mi
1201 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1067	$1,870	$1.75	2d	1	1.16mi
310 15th Ave SW Largo, FL	3.0	2.0	1284	$2,800	$2.18	25d	1	1.18mi
10659 108th St Largo, FL	3.0	1.5	1380	$2,550	$1.85	25d	1	1.21mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	4d	1	1.32mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	8d	1	1.33mi
11938 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	25d	1	1.39mi
11938 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	17d	1	1.39mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	25d	1	1.41mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	21d	1	1.41mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	8d	1	1.41mi
11960 133rd Ave Unit 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	25d	1	1.41mi
11980 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	25d	1	1.42mi
11980 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	17d	3	1.42mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	25d	1	1.50mi

HOA detail

• Monthly dues: $300 · $3,600/yr
• Likely covers: watergas

Listing history 13 events

1. 2026-06-18
   days on market $165,000 Active 70 DOM
2. 2026-06-17
   days on market $165,000 Active 69 DOM
3. 2026-06-16
   days on market $165,000 Active 68 DOM
4. 2026-06-15
   days on market $165,000 Active 67 DOM
5. 2026-06-13
   days on market $165,000 Active 65 DOM
6. 2026-06-09
   days on market $165,000 Active 61 DOM
7. 2026-06-08
   days on market $165,000 Active 60 DOM
8. 2026-06-07
   days on market $165,000 Active 59 DOM
9. 2026-06-04
   days on market $165,000 Active 56 DOM
10. 2026-06-03
    days on market $165,000 Active 55 DOM
11. 2026-06-01
    days on market $165,000 Active 53 DOM
12. 2026-05-31
    days on market $165,000 Active 52 DOM
13. 2026-04-09
    listed $165,000 Active

ⓘ 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: $852 · $71/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$518/yr (+$43/mo · 60.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $24,231
• − Mortgage interest: −$9,243
• − Property taxes: −$852
• − Insurance: −$825
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − HOA: −$3,600
• − Depreciation: −$4,800
• Taxable income: $1,035
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $3,234/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): 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

1 event — show timeline

• 2026-04-09 Listed $165,000 Stellar MLS as Distributed by MLS Grid