2696 Rae Ct · Palm Harbor, FL 34684

$234,900

2 bd · 1.0 ba · 797 sqft · SingleFamily public records · 12 Days on market

Built 1983 3,376 sqft lot Est $245k · at est. $8/mo HOA

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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 +13.1/30.0
• ARV discount +9.3/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single-family attached home with garage. Open feeling because of high vaulted ceilings and open floor plan. 2 bedrooms and one bath. 1/2 of the garage has been converted to an extra room. It can be easily converted back to a full garage. There is an AC vent into the room. PVC fence surrounds both this lot and the adjacent lot. It is open but could be divided with another section of the fence. There is a wide gate in the fence that opens to the back street. Nice landscaping in the rear yard. Newer black stainless appliances. AC is 2016. Laminate floors throughout. New garage door in the last 2 years. Tenant occupied so pictures are before it was rented. Please allow one day's notice to schedule an appointment. Lease ends March 31. The adjacent home at 2698 is owned by the same owner and is also for sale. Good investment opportunity. A NEW ROOF BEING INSTALLED IN THE NEXT FEW WEEKS.

Key facts

• Wood-deck walkway
• Large double gate
• Converted garage

Tags

• FULLY FENCED YARD
• LARGE DOUBLE GATE
• UPDATED VANITY
• CONVERTED GARAGE
• CHARMING SIDE PATIO
• WOOD-DECK WALKWAY

Property features AI

Finance

• Other: Irrigation equipment installed; Unfurnished
• Financial info: No lease restrictions indicated
• HOA & community: Homeowner association (annual fee $104; $8.67/month equivalent); Association approval not required; Deed restrictions; Sidewalks; Pets allowed

Exterior

• Parking: Driveway; 1-car attached garage
• Security: Fire hydrant nearby
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Residential attached villa; Single-story; Northwest facing; Completed condition
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as a villa
• Exterior features: Patio; Outdoor lighting; Sprinkler (metered); Vinyl fencing; Mature landscaping; Landscaped and paved lot; In-county location; Paved road access (asphalt)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Vaulted ceilings; Blinds
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-7 ($-86/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (16.3% below list).
• Recommended offer: $197k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: housing A+, commute A, crime 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.
• Zoned schools: Lake St. George Elementary School (math 73% / reading 69%, grade A-, #320 of 2,144 statewide, top 15%, 595 students, 40% FRL); Countryside High School (math 25% / reading 45%, grade F, #379 of 667 statewide, top 58%, 1,741 students, 44% FRL).
• Market conditions: Rents falling (-5.2%/yr); 377 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2k of loan paydown is wiped out by about $7k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $147k; list at $235k implies a 60% 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 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,551 (16.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.84% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $244,679
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2730 Langstaff Dr	0.05mi	2/1.0	797 (0%)	4mo	$245,000	$307	95
2685 Macklin Ct	0.04mi	2/1.0	797 (0%)	13mo	$270,000	$339	87
3705 Simpson Ct	0.09mi	2/1.0	797 (0%)	11mo	$255,000	$320	87
2721 Baird Ct	0.06mi	2/1.5	797 (0%)	11mo	$250,000	$314	86
2735 Alabaster Ct	0.08mi	2/1.0	797 (0%)	21mo	$165,000	$207	79
3761 Shapland Ct	0.07mi	2/1.0	902 (+13%)	21mo	$160,000	$177	58
3625 Simcoe Ct	0.30mi	1/1.0 (-1)	694 (-13%)	12mo	$199,900	$288	49
93 Red Oak Dr	0.59mi	2/2.0	860 (+8%)	22mo	$151,000	$176	38

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: -19.8%
• Equity multiple: 0.33×
• Total profit: $-44,292
• Equity at exit: $35,024

10-year hold

• IRR: -20.5%
• Equity multiple: 0.07×
• Total profit: $-61,459
• Equity at exit: $20,310

Cash invested: $65,772 (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: 377
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$222 /mo · $2,667/yr
• Insurance: −$98
• HOA: −$8
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-7

Break-even live

Break-even rent $1,975

Max offer price $233,627

Occupancy floor 95%

Sensitivity live

Price	-10% $126	-5% $59	+0% $-7	+5% $-74	+10% $-140
Rent	-10% $-162	-5% $-85	+0% $-7	+5% $70	+10% $148
Rate	-1.0pp $111	-0.5pp $53	base $-7	+0.5pp $-68	+1.0pp $-130

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2678 Markham Ct Palm Harbor, FL	2.0	2.0	923	$1,999	$2.17	25d	1	0.07mi
2682 Rachel Ct Palm Harbor, FL	1.0	1.0	700	$1,400	$2.00	4d	1	0.09mi
3726 Albion Ct Palm Harbor, FL	3.0	2.0	1060	$2,350	$2.22	15d	1	0.14mi
3726 Albion Ct Palm Harbor, FL	3.0	2.0	1060	$2,350	$2.22	15d	1	0.14mi
3781 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1055	$2,500	$2.37	25d	1	0.20mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	25d	1	0.25mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	19d	1	0.25mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	16d	1	0.25mi
2803 Northcote Dr Palm Harbor, FL	3.0	2.0	1050	$2,300	$2.19	23d	1	0.32mi
3610 Sammy Ct Palm Harbor, FL	2.0	1.0	797	$2,000	$2.51	5d	1	0.33mi
3583 Whispering Oaks Ln Palm Harbor, FL	2.0	2.5	1124	$1,800	$1.60	25d	1	0.58mi
3590 Magnolia Ridge Cir Unit G Palm Harbor, FL	2.0	2.0	1090	$1,695	$1.56	25d	1	0.62mi
3975 Country Place Ln Palm Harbor, FL	1.0–2.0	1.0–2.0	788	$1,637	$2.08	3d	16	0.63mi
3028 Bonaventure Cir #103 Palm Harbor, FL	2.0	2.0	900	$1,500	$1.67	25d	1	0.71mi
220 Calibre Downs Ln Palm Harbor, FL	1.0–2.0	1.0–2.5	1052	$2,299	$2.19	25d	13	0.73mi
2998 Bonaventure Cir #104 Palm Harbor, FL	2.0	2.0	900	$1,828	$2.03	5d	1	0.83mi
3455 Countryside Blvd #4 Clearwater, FL	3.0	2.0	995	$2,050	$2.06	5d	1	0.90mi
31790 US Highway 19 N Palm Harbor, FL	1.0–2.0	1.0–2.0	842	$2,066	$2.45	13d	16	1.02mi
3462 Maclaren Dr Palm Harbor, FL	2.0	2.0	1076	$2,150	$2.00	9d	1	1.07mi
212 Katherine Blvd Palm Harbor, FL	1.0–4.0	1.0–2.5	1164	$1,775	$1.52	3d	15	1.11mi
1350 Seagate Dr Palm Harbor, FL	1.0–4.0	1.0–2.0	1044	$1,913	$1.83	3d	19	1.17mi
2690 Coral Landings Blvd Palm Harbor, FL	2.0–3.0	2.0	1135	$1,700	$1.50	13d	2	1.18mi
414 Meadow Ln Oldsmar, FL	1.0	1.0	700	$1,450	$2.07	25d	1	1.27mi
114 Meadow Ln #114 Oldsmar, FL	2.0	2.0	879	$1,700	$1.93	25d	1	1.30mi
207 Palmetto Ct Oldsmar, FL	2.0	2.0	1054	$1,700	$1.61	25d	1	1.32mi
109 Pine Ct Oldsmar, FL	2.0	2.0	1054	$2,300	$2.18	25d	1	1.32mi
103 Palmetto Ct #103 Oldsmar, FL	2.0	2.0	1054	$1,800	$1.71	25d	1	1.32mi
107 Windward Pl Unit 107 Oldsmar, FL	2.0	2.0	879	$2,000	$2.28	19d	1	1.34mi
161 Lakeside Dr Oldsmar, FL	2.0	2.0	1094	$2,000	$1.83	19d	1	1.40mi
135 W Cypress Ct Oldsmar, FL	2.0	2.0	1054	$2,100	$1.99	25d	1	1.43mi
274 Cypress Ln Oldsmar, FL	2.0	2.0	1054	$1,600	$1.52	25d	1	1.43mi
132 E Cypress Ct Oldsmar, FL	2.0	2.0	1054	$1,800	$1.71	21d	1	1.43mi
2700 Nebraska Ave Unit 4-106 Palm Harbor, FL	1.0	1.0	730	$1,400	$1.92	25d	1	1.46mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: landscaping

Listing history 11 events

1. 2026-05-15
   listed $234,900 Active
2. 2020-04-09
   soldstatus $147,000
3. 2020-04-03
   soldstatus $147,000 Sold 893-char remark

   Show marketing remark (893 chars)

   Single-family attached home with garage. Open feeling because of high vaulted ceilings and open floor plan. 2 bedrooms and one bath. 1/2 of the garage has been converted to an extra room. It can be easily converted back to a full garage. There is an AC vent into the room. PVC fence surrounds both this lot and the adjacent lot. It is open but could be divided with another section of the fence. There is a wide gate in the fence that opens to the back street. Nice landscaping in the rear yard. Newer black stainless appliances. AC is 2016. Laminate floors throughout. New garage door in the last 2 years. Tenant occupied so pictures are before it was rented. Please allow one day's notice to schedule an appointment. Lease ends March 31. The adjacent home at 2698 is owned by the same owner and is also for sale. Good investment opportunity. A NEW ROOF BEING INSTALLED IN THE NEXT FEW WEEKS.

4. 2020-02-05
   status Pending 893-char remark

   Show marketing remark (893 chars)

   Single-family attached home with garage. Open feeling because of high vaulted ceilings and open floor plan. 2 bedrooms and one bath. 1/2 of the garage has been converted to an extra room. It can be easily converted back to a full garage. There is an AC vent into the room. PVC fence surrounds both this lot and the adjacent lot. It is open but could be divided with another section of the fence. There is a wide gate in the fence that opens to the back street. Nice landscaping in the rear yard. Newer black stainless appliances. AC is 2016. Laminate floors throughout. New garage door in the last 2 years. Tenant occupied so pictures are before it was rented. Please allow one day's notice to schedule an appointment. Lease ends March 31. The adjacent home at 2698 is owned by the same owner and is also for sale. Good investment opportunity. A NEW ROOF BEING INSTALLED IN THE NEXT FEW WEEKS.

5. 2020-01-30
   listed $149,000 Active 893-char remark

   Show marketing remark (893 chars)

   Single-family attached home with garage. Open feeling because of high vaulted ceilings and open floor plan. 2 bedrooms and one bath. 1/2 of the garage has been converted to an extra room. It can be easily converted back to a full garage. There is an AC vent into the room. PVC fence surrounds both this lot and the adjacent lot. It is open but could be divided with another section of the fence. There is a wide gate in the fence that opens to the back street. Nice landscaping in the rear yard. Newer black stainless appliances. AC is 2016. Laminate floors throughout. New garage door in the last 2 years. Tenant occupied so pictures are before it was rented. Please allow one day's notice to schedule an appointment. Lease ends March 31. The adjacent home at 2698 is owned by the same owner and is also for sale. Good investment opportunity. A NEW ROOF BEING INSTALLED IN THE NEXT FEW WEEKS.

6. 2014-12-19
   soldstatus $65,000
7. 2012-09-10
   soldstatus $45,000
8. 2012-08-16
   soldstatus $45,000
9. 2012-08-15
   soldstatus $45,000 383-char remark

   Show marketing remark (383 chars)

   ACTIVE WITH CONTRACT! DRASTICALLY REDUCED. .SELLER WANTS OFFER!!Well kept attached block villa in Lake St George. Original owner. Garage to fit a small truck or car. Popular Lke St George South, close to main roads, shops and beaches. Low fees ($98/year) and deed restrictions. All furniture included, even the 95 Ford Ranger Truck. Seller will take out just the personal belongings.

10. 2012-03-13
    listed $44,700 383-char remark

    Show marketing remark (383 chars)

    ACTIVE WITH CONTRACT! DRASTICALLY REDUCED. .SELLER WANTS OFFER!!Well kept attached block villa in Lake St George. Original owner. Garage to fit a small truck or car. Popular Lke St George South, close to main roads, shops and beaches. Low fees ($98/year) and deed restrictions. All furniture included, even the 95 Ford Ranger Truck. Seller will take out just the personal belongings.

11. 1983-11-01
    soldstatus $37,500

ⓘ 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: $2,667 · $222/mo
• Projected year-2 tax: $2,667 · $222/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 ≥107°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: $23,586
• − Mortgage interest: −$13,158
• − Property taxes: −$2,667
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − HOA: −$96
• − Depreciation: −$6,833
• Taxable loss: −$4,117
• Est. tax savings @ 24.0%: +$988
• After-tax cash flow: $901/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

+526.4% since first listed

11 events — show timeline

• 2026-05-15 Listed $234,900 Stellar MLS as Distributed by MLS Grid
• 2020-04-09 Sold (Public Records) $147,000 Public Records
• 2020-04-03 Sold (MLS) $147,000 Stellar MLS as Distributed by MLS Grid
• 2020-02-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-01-30 Listed $149,000 Stellar MLS as Distributed by MLS Grid
• 2014-12-19 Sold (Public Records) $65,000 Public Records
• 2012-09-10 Sold (Public Records) $45,000 Public Records
• 2012-08-16 Sold (Public Records) $45,000 Public Records
• 2012-08-15 Sold (MLS) $45,000 Stellar MLS as Distributed by MLS Grid
• 2012-03-13 Listed $44,700 Stellar MLS as Distributed by MLS Grid
• 1983-11-01 Sold (Public Records) $37,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,667 · +6.0% YoY. Source: county tax records.