2666 Pine Ridge Way N Unit C2 · Palm Harbor, FL 34684

$179,900

2 bd · 2.0 ba · 1,104 sqft · Condo public records · 85 Days on market

Built 1983 $426/mo HOA · 21% of rent

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Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

Key facts

• Solid wood cabinetry
• Renovated kitchen
• Granite countertops

Tags

• UPDATED SECOND-FLOOR CONDO
• MAINTENANCE-FREE LIVING
• RENOVATED KITCHEN
• SOLID WOOD CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-55 ($-655/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (5.4% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 3.1% in Palm Harbor — 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 81/100 on livability (#95 in FL, #1,470 nationally) — a professional / high-income tenant draw. Strengths: schools A+, housing A+, commute A; Watch: 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 falling (-5.2%/yr); 371 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 33% of the median local income ($72k/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 85 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $180k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.12% ✓
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.24×
• Total profit: $-38,242
• Equity at exit: $26,824

10-year hold

• IRR: -33.5%
• Equity multiple: -0.18×
• Total profit: $-59,421
• Equity at exit: $15,554

Cash invested: $50,372 (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 34684

• Rents YoY: -5.2%
• Active inventory: 371
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$943
• Tax from tax record: −$198 /mo · $2,377/yr
• Insurance: −$75
• HOA: −$426
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-55

Break-even live

Break-even rent $2,079

Max offer price $170,259

Occupancy floor 98%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
144 Stafford Cir Palm Harbor, FL	2.0	2.0	1264	$2,295	$1.82	4d	1	0.07mi
2575 Pine Ridge Way S Unit A2 Palm Harbor, FL	2.0	2.0	1104	$1,590	$1.44	24d	1	0.12mi
2523 Pine Ridge Way S Unit C2 Palm Harbor, FL	2.0	2.0	1038	$1,750	$1.69	24d	1	0.15mi
1624 Heather Pl Palm Harbor, FL	2.0	2.0	1248	$2,295	$1.84	24d	1	0.27mi
1801 E Orangeside Rd Palm Harbor, FL	3.0	2.0	1369	$2,575	$1.88	24d	1	0.32mi
1691 E Orangecrest Ave Palm Harbor, FL	2.0	2.0	1193	$2,600	$2.18	17d	1	0.36mi
2833 Orange Tree Cir N Unit C Palm Harbor, FL	2.0	2.0	960	$1,845	$1.92	24d	1	0.39mi
2700 Nebraska Ave Unit 4-106 Palm Harbor, FL	1.0	1.0	730	$1,400	$1.92	24d	1	0.47mi
2481 Malcolm Dr Palm Harbor, FL	2.0	2.0	1319	$2,600	$1.97	18d	1	0.48mi
2334 Citrus Hill Rd Palm Harbor, FL	2.0	2.0	1189	$2,350	$1.98	4d	1	0.65mi
3266 Haviland Ct Palm Harbor, FL	3.0	2.0	1210	$1,895	$1.57	24d	1	0.66mi
2914 Cypress Green Dr Palm Harbor, FL	3.0	2.0	1245	$2,600	$2.09	19d	1	0.75mi
2690 Coral Landings Blvd Palm Harbor, FL	2.0–3.0	2.0	1135	$1,700	$1.50	12d	2	0.78mi
2690 Coral Landings Blvd #415 Palm Harbor, FL	3.0	2.0	1351	$2,000	$1.48	19d	1	0.91mi
2945 Grovewood Blvd Unit A Palm Harbor, FL	2.0	2.0	1030	$1,775	$1.72	18d	1	0.98mi
35820 U.S. 19 Unit C1 Palm Harbor, FL	3.0	2.0	1404	$2,781	$1.98	4d	1	1.03mi
35820 U.S. 19 Unit A2 Palm Harbor, FL	1.0	1.0	740	$1,884	$2.55	4d	1	1.03mi
35820 U.S. 19 Unit B1 Palm Harbor, FL	2.0	2.0	1116	$2,245	$2.01	4d	1	1.03mi
3023 Beecher Dr E Unit D Palm Harbor, FL	3.0	2.5	1425	$2,400	$1.68	18d	1	1.04mi
248 St Ives Dr #248 Palm Harbor, FL	3.0	2.0	1350	$2,300	$1.70	4d	1	1.04mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,850	$1.80	3d	1	1.06mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,860	$1.81	8d	1	1.06mi
3121 Beecher Dr E Unit A Palm Harbor, FL	2.0	2.0	976	$2,100	$2.15	8d	1	1.07mi
3277 Fox Chase Cir N #211 Palm Harbor, FL	2.0	2.0	825	$1,495	$1.81	24d	1	1.18mi
36090 US Highway 19 N Palm Harbor, FL	1.0–3.0	1.0–2.0	1046	$2,557	$2.44	3d	66	1.18mi
3300 Fox Chase Cir N Palm Harbor, FL	2.0	2.0	906	$2,125	$2.35	1d	2	1.18mi
245 Lake Tarpon Dr Palm Harbor, FL	2.0	2.0	1000	$1,995	$2.00	2d	1	1.19mi
4000 Poinciana Ct Palm Harbor, FL	3.0	2.0	1298	$2,600	$2.00	3d	1	1.23mi
3462 Maclaren Dr Palm Harbor, FL	2.0	2.0	1076	$2,150	$2.00	8d	1	1.28mi
47 Delaware Ct #10 Palm Harbor, FL	2.0	2.0	1008	$1,800	$1.79	20d	1	1.29mi
274 Beach Ct #42 Palm Harbor, FL	2.0	2.0	1056	$1,600	$1.52	24d	1	1.35mi
21 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1434	$2,895	$2.02	4d	1	1.41mi
65 Lake Shore Dr Palm Harbor, FL	2.0	1.0	868	$1,700	$1.96	18d	1	1.44mi
72 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1100	$1,800	$1.64	18d	1	1.45mi
2712 14th Ct Palm Harbor, FL	2.0	2.5	1344	$2,050	$1.53	24d	1	1.45mi
218 Maple Ave Palm Harbor, FL	3.0	2.0	1374	$2,600	$1.89	18d	1	1.47mi
2605 10th Ct Palm Harbor, FL	2.0	2.5	1344	$1,950	$1.45	24d	1	1.48mi

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-04-28
   status Pending
2. 2026-04-27
   historical
3. 2026-04-21
   price $179,900
4. 2026-03-13
   price $184,900
5. 2026-02-01
   listed $189,900 Active
6. 2025-12-31
   historical
7. 2025-11-06
   price $193,500
8. 2025-08-13
   listed $198,500 Active
9. 2016-03-25
   soldstatus $84,000
10. 2016-03-18
    soldstatus $84,000 Sold 567-char remark

    Show marketing remark (567 chars)

    Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

11. 2016-02-11
    historical Active with Contract 567-char remark

    Show marketing remark (567 chars)

    Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

12. 2016-02-05
    historical 567-char remark

    Show marketing remark (567 chars)

    Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

13. 2016-02-01
    historical Active with Contract 567-char remark

    Show marketing remark (567 chars)

    Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

14. 2016-01-06
    listed $88,000 Active 567-char remark

    Show marketing remark (567 chars)

    Beautiful Pine Ridge of Palm Harbor. This is a must see home with 2 large bedrooms, 2 bathrooms, large living room, full kitchen with eating area, dining room, and a screened in porch overlooking the lovely wooded grounds. This home is located just steps away from the resort style swimming pool, jacuzzi, shuffle board courts, and a very nice community center. The property has large lakes with fountains and beautiful mature trees throughout. The home is being offered furnished at owners convenience. You will definitely enjoy living at Pine Ridge of Palm Harbor.

15. 1997-06-04
    soldstatus $49,700
16. 1986-06-10
    soldstatus $48,000
17. 1983-08-01
    soldstatus $49,600

ⓘ 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: $2,377 · $198/mo
• Projected year-2 tax: $2,377 · $198/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 27 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,120
• − Mortgage interest: −$10,077
• − Property taxes: −$2,377
• − Insurance: −$900
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − HOA: −$5,112
• − Depreciation: −$5,233
• Taxable loss: −$3,439
• Est. tax savings @ 24.0%: +$825
• After-tax cash flow: $170/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 — Palm Harbor

• Score: 81/100
• State rank: #95
• US rank: #1470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 79,072
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,029
• Household income: $72,145
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1495.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Romanian 5% Scotch-Irish 3%
• Foreign-born: 13% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 2%

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: ▼ -296.23%
• Current HPI: 301.651
• Rent YoY: ▼ -5.17%
• 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

+262.7% since first listed

17 events — show timeline

• 2026-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $184,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-01 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $193,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Listed $198,500 Stellar MLS as Distributed by MLS Grid
• 2016-03-25 Sold (Public Records) $84,000 Public Records
• 2016-03-18 Sold (MLS) $84,000 Stellar MLS as Distributed by MLS Grid
• 2016-02-11 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-02-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-02-01 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-01-06 Listed $88,000 Stellar MLS as Distributed by MLS Grid
• 1997-06-04 Sold (Public Records) $49,700 Public Records
• 1986-06-10 Sold (Public Records) $48,000 Public Records
• 1983-08-01 Sold (Public Records) $49,600 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,377 · +0.9% YoY. Source: county tax records.