9900 Ulmerton Rd #238 · Largo, FL 33771

$129,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 83 Days on market

Built 1971 Est $144k · 10% under $201/mo HOA · 10% of rent ↓ 7% since listing

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Why this score? — see what drove the B+ 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 +29.9/30.0
• ARV discount +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover exceptional value in a prime location, ready for you to call home or enjoy as your perfect getaway! This fully furnished 2BR/2BA is nestled within the sought-after 55+ community of Grosse Pointe. The spacious and open design includes an enclosed Florida room, seamlessly expanding your living area—ideal for unwinding in comfort or entertaining guests. Both bedrooms are amply sized and offer plenty of closet space. The community provides a wealth of amenities, such as an active clubhouse featuring a full kitchen, a heated pool for year-round relaxation, shuffleboard courts, and numerous social activities that foster a vibrant lifestyle. Your affordable monthly fee of $201 cover

Key facts

• Active clubhouse
• Shuffleboard courts
• Heated pool

Tags

• ENCLOSED FLORIDA ROOM
• ACTIVE CLUBHOUSE
• HEATED POOL
• SHUFFLEBOARD COURTS
• PICTURESQUE GULF BEACHES

Property features AI

Finance

• Other: Furnished; Association name: Ken Beck
• Financial info: Total monthly fees approximately $201.41; total annual fees approximately $2,416.92; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $201.41) with required membership and buyer approval; HOA fee covers common area taxes, pool, escrow reserves, maintenance, management, sewer, trash and water; Community features: clubhouse, community mailbox, street lights, senior community; Pets allowed (cats and dogs, max ~20 lbs)

Exterior

• Parking: Covered parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Residential mobile home (double wide); One story; Faces west; Entry on single level
• Construction: Metal siding; Membrane roof; Pillar/post/pier foundation; Built as double wide mobile home
• Exterior features: Asphalt road access; Private maintained road; Pool access via association; Shuffleboard court via association

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Window treatments; Florida room; Sliding doors; Storage
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $50 ($598/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 soft (-1.1%/yr); 220 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 39% of the median local income ($60k/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 $892 of loan paydown is wiped out by about $4k 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 83 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.50% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.83%
• DSCR: 1.70
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $143,616
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13225 101st St #411	0.20mi	2/2.0	1,056 (0%)	18mo	$115,000	$109	76
9900 Ulmerton Rd #236	0.00mi	2/2.0	1,152 (+9%)	13mo	$172,500	$150	74
13225 101st St #166	0.20mi	2/2.0	960 (-9%)	7mo	$152,500	$159	70
9900 Ulmerton Rd #214	0.00mi	2/2.0	1,152 (+9%)	20mo	$156,500	$136	68
13225 101st St #350	0.20mi	2/2.0	1,152 (+9%)	18mo	$80,000	$69	61

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.36×
• Total profit: $-23,023
• Equity at exit: $19,234

10-year hold

• IRR: -28.1%
• Equity multiple: -0.01×
• Total profit: $-36,346
• Equity at exit: $11,154

Cash invested: $36,120 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 220
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$676
• Tax from tax record: −$126 /mo · $1,511/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$201
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $50

Break-even live

Break-even rent $1,878

Max offer price $129,000

Occupancy floor 92%

Sensitivity live

Price	-10% $123	-5% $86	+0% $50	+5% $13	+10% $-23
Rent	-10% $-103	-5% $-27	+0% $50	+5% $127	+10% $203
Rate	-1.0pp $115	-0.5pp $83	base $50	+0.5pp $16	+1.0pp $-18

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9925 Ulmerton Rd #74 Largo, FL	2.0	1.5	1140	$1,800	$1.58	18d	1	0.18mi
13225 101st St #116 Largo, FL	2.0	2.0	1152	$1,600	$1.39	5d	1	0.22mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	25d	1	0.62mi
12293 Sailwinds Dr #203 Largo, FL	3.0	2.0	1155	$2,050	$1.77	14d	1	0.68mi
12261 Sailwinds Dr #203 Largo, FL	3.0	2.0	1139	$1,800	$1.58	5d	1	0.70mi
10100 Sailwinds Blvd N #206 Largo, FL	3.0	2.0	1155	$1,850	$1.60	4d	1	0.71mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	3d	1	0.90mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	25d	2	0.91mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	3d	23	0.92mi
1201 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1067	$1,870	$1.75	2d	1	0.94mi
253 Sago Palm St Largo, FL	2.0	2.0	1000	$1,295	$1.29	25d	1	1.01mi
8775 Christie Dr Largo, FL	2.0	3.0	1300	$2,198	$1.69	18d	1	1.05mi
10495 118th Ave Largo, FL	3.0	2.0	1169	$2,250	$1.92	5d	1	1.06mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	25d	1	1.07mi
667 Sugar Palm St Largo, FL	2.0	2.0	1296	$2,500	$1.93	3d	1	1.08mi
1200 Country Club Dr #4102 Largo, FL	2.0	2.0	1324	$2,100	$1.59	5d	1	1.11mi
1200 Country Club Dr #3302 Largo, FL	2.0	2.0	1320	$2,200	$1.67	5d	1	1.11mi
1200 Country Club Dr #1502 Largo, FL	2.0	2.0	1320	$2,350	$1.78	5d	1	1.11mi
310 15th Ave SW Largo, FL	3.0	2.0	1284	$2,800	$2.18	25d	1	1.14mi
960 Starkey Rd #8402 Largo, FL	2.0	2.0	1324	$2,200	$1.66	25d	1	1.14mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	2d	189	1.15mi
775 Royal Palm Cir Largo, FL	2.0	2.0	1008	$1,700	$1.69	5d	1	1.15mi
960 Starkey Rd #10305 Largo, FL	2.0	2.0	1324	$2,200	$1.66	15d	1	1.17mi
960 Starkey Rd #5105 Largo, FL	2.0	2.0	1324	$2,295	$1.73	25d	1	1.18mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	25d	1	1.22mi
11707 108th St Unit 1018171P Largo, FL	3.0	2.0	1259	$3,119	$2.48	3d	1	1.24mi
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	25d	1	1.24mi
3030 Whispering Dr N Largo, FL	3.0	2.0	1348	$3,600	$2.67	25d	1	1.31mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	5d	2	1.31mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	8d	1	1.31mi
10560 114th Ter Largo, FL	3.0	1.0	1232	$3,000	$2.44	5d	1	1.31mi
600 6th Ave SE Largo, FL	3.0	2.0	1364	$2,400	$1.76	25d	1	1.32mi
44 Countryclub Dr #44 Largo, FL	2.0	2.0	1278	$2,300	$1.80	25d	1	1.35mi
68 Country Club Dr Largo, FL	2.0	2.0	1396	$2,100	$1.50	25d	1	1.39mi
69 Country Club Dr Largo, FL	2.0	2.0	1278	$2,000	$1.56	25d	1	1.39mi
46 Palm Forest Dr Largo, FL	2.0	2.0	1296	$2,200	$1.70	5d	1	1.41mi
13250 Ridge Rd Unit 3B1 Largo, FL	3.0	2.0	1225	$1,975	$1.61	18d	1	1.41mi
10580 112th Ave Largo, FL	3.0	1.0	925	$1,995	$2.16	5d	1	1.42mi
200 Country Club Dr #1505 Largo, FL	3.0	2.0	1255	$1,980	$1.58	15d	1	1.48mi
3331 Whispering Dr N Largo, FL	2.0	2.0	1053	$2,190	$2.08	24d	1	1.49mi

HOA detail

• Monthly dues: $201 · $2,412/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-18
   days on market $129,000 Active 83 DOM
2. 2026-06-17
   days on market $129,000 Active 82 DOM
3. 2026-06-16
   days on market $129,000 Active 81 DOM
4. 2026-06-15
   days on market $129,000 Active 80 DOM
5. 2026-06-13
   days on market $129,000 Active 78 DOM
6. 2026-06-09
   days on market $129,000 Active 74 DOM
7. 2026-06-08
   days on market $129,000 Active 73 DOM
8. 2026-06-07
   days on market $129,000 Active 72 DOM
9. 2026-06-04
   days on market $129,000 Active 69 DOM
10. 2026-06-03
    days on market $129,000 Active 68 DOM
11. 2026-06-01
    days on market $129,000 Active 66 DOM
12. 2026-05-31
    days on market $129,000 Active 65 DOM
13. 2026-04-21
    price $129,000
14. 2026-03-27
    listed $139,000 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: $1,511 · $126/mo
• Projected year-2 tax: $1,511 · $126/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 18 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: $23,294
• − Mortgage interest: −$7,226
• − Property taxes: −$1,511
• − Insurance: −$5,764
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$2,412
• − Depreciation: −$3,753
• Taxable loss: −$1,098
• Est. tax savings @ 24.0%: +$263
• After-tax cash flow: $862/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): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

-7.2% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Listed $139,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $1,511 · +6.9% YoY. Source: county tax records.