936 Virginia St #201 · Dunedin, FL 34698

$140,000

2 bd · 2.0 ba · 1,024 sqft · Condo public records · 45 Days on market

Built 1973 $651/mo HOA · 31% 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 +13.9/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +4.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity meets location in this 2-bedroom, 2-bath second-floor condo nestled in one of Dunedin’s most desirable areas. This is a lovely 55+ no Pet community, with peaceful pond views and a spacious layout, this home is ready for your personal touch and updates—making it the perfect canvas to create your ideal Florida retreat. The large primary suite is a standout feature, offering plenty of room to unwind along with an updated en-suite bath already in place. A split-bedroom floor plan provides privacy for guests, while the main living areas offer great flow and natural light. Step into your Florida Room and enjoy serene water views—perfect for morning coffee or relaxing

Key facts

• Florida room
• Corner unit
• Large primary suite

Tags

• SPACIOUS LAYOUT
• LARGE PRIMARY SUITE
• UPDATED EN-SUITE BATH
• SPLIT-BEDROOM FLOOR PLAN
• FLORIDA ROOM
• CORNER UNIT

Property features AI

Finance

• Other: Unit is unfurnished
• Financial info: Total annual fees: $7,812; Total monthly fees: $651
• HOA & community: HOA managed by florida central mgmt; Monthly condo/association fee: $650; Association fees include common area taxes, pool, sewer, trash, water; Association approval required; Buyer/association approval required for purchase; Community clubhouse and pool; Community mailbox; Deed restrictions; Senior community (55+); Pets not allowed; Leasing restrictions apply

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected
• Home design: Residential condominium; One story; South-facing; Second-floor unit (Floor 2)
• Construction: Block construction; Built-up roof; Slab foundation; Building F
• Exterior features: Sidewalk

Interior

• Kitchen: Dishwasher; Disposal; Range
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Window treatments; Building elevator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $14 ($171/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.8% in Dunedin — 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 86/100 on livability (#15 in FL, #411 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: employment C-, amenities D.
• 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 (+2.7%/yr); 481 active listings in the ZIP; 40 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 34% of the median local income ($74k/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 $968 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 45 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $140k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-21,985
• Equity at exit: $20,874

10-year hold

• IRR: -7.7%
• Equity multiple: 0.52×
• Total profit: $-18,830
• Equity at exit: $12,105

Cash invested: $39,200 (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 34698

• Rents YoY: 2.7%
• Active inventory: 481
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$734
• Tax from tax record: −$189 /mo · $2,268/yr
• Insurance: −$58
• HOA: −$651
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $14

Break-even live

Break-even rent $2,067

Max offer price $140,000

Occupancy floor 94%

Sensitivity live

Price	-10% $94	-5% $54	+0% $14	+5% $-25	+10% $-65
Rent	-10% $-150	-5% $-68	+0% $14	+5% $97	+10% $179
Rate	-1.0pp $85	-0.5pp $50	base $14	+0.5pp $-22	+1.0pp $-59

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	25d	1	0.06mi
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	18d	2	0.06mi
920 Lakewood Dr Dunedin, FL	3.0	2.0	1457	$3,000	$2.06	25d	1	0.24mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	5d	1	0.36mi
556 Patricia Ave Dunedin, FL	2.0	1.0	850	$1,795	$2.11	5d	1	0.45mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	18d	1	0.48mi
978 Cedarwood Ave Dunedin, FL	2.0	1.0	1100	$1,800	$1.64	25d	1	0.53mi
857 Lyndhurst St Unit D Dunedin, FL	2.0	2.0	1050	$1,700	$1.62	19d	1	0.55mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	25d	1	0.58mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	5d	1	0.58mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	3d	6	0.58mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	19d	1	0.59mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	25d	1	0.59mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	3d	1	0.61mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	3d	1	0.62mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	25d	1	0.63mi
1235 Bass Blvd Dunedin, FL	3.0	2.0	1300	$2,550	$1.96	19d	1	0.63mi
526 Belmist Ct Dunedin, FL	3.0	2.0	1480	$2,700	$1.82	25d	1	0.68mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	4d	1	0.69mi
941 Highland Ave Unit D Dunedin, FL	1.0	1.0	1000	$1,300	$1.30	21d	1	0.69mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	9d	2	0.70mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	5d	1	0.71mi
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	4d	12	0.74mi
1479 Ruth Rd Dunedin, FL	2.0	2.0	1235	$2,700	$2.19	25d	1	0.74mi
613 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	12d	1	0.75mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	5d	1	0.76mi
611 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	5d	1	0.76mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	9d	1	0.77mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	25d	1	0.78mi
1525 Ruth Rd Dunedin, FL	2.0	2.0	1379	$3,200	$2.32	5d	1	0.81mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	3d	9	0.89mi
152 Macalpine Way Dunedin, FL	1.0–3.0	1.0–2.5	943	$2,084	$2.21	3d	42	0.90mi
1580 Andover Dr Unit House Dunedin, FL	2.0	1.0	1241	$2,200	$1.77	25d	1	0.93mi
600 Douglas Ave Unit 350 Dunedin, FL	2.0	1.0	1000	$2,195	$2.19	25d	1	0.95mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	5d	1	1.02mi
2251 Springwood Cir W Clearwater, FL	3.0	2.0	1344	$3,100	$2.31	25d	1	1.03mi
1005 Egret Ct Dunedin, FL	2.0	2.0	996	$1,400	$1.41	5d	1	1.07mi
541 Roanoke St Dunedin, FL	2.0	2.0	912	$2,345	$2.57	15d	1	1.16mi
662 Union St Unit 1A Dunedin, FL	3.0	1.0	1100	$1,749	$1.59	23d	1	1.22mi
1523 Bayshore Blvd Unit 6 Dunedin, FL	3.0	1.0	1061	$3,000	$2.83	25d	1	1.23mi

HOA detail condo

• Monthly dues: $651 · $7,812/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $140,000 Active 45 DOM
2. 2026-06-17
   days on market $140,000 Active 44 DOM
3. 2026-06-16
   days on market $140,000 Active 43 DOM
4. 2026-06-15
   days on market $140,000 Active 42 DOM
5. 2026-06-13
   days on market $140,000 Active 40 DOM
6. 2026-06-09
   days on market $140,000 Active 36 DOM
7. 2026-06-08
   days on market $140,000 Active 35 DOM
8. 2026-06-07
   pricedays on market $140,000 Active 34 DOM
9. 2026-06-04
   days on market $150,000 Active 31 DOM
10. 2026-06-03
    days on market $150,000 Active 30 DOM
11. 2026-06-01
    days on market $150,000 Active 28 DOM
12. 2026-05-31
    days on market $150,000 Active 27 DOM
13. 2026-05-04
    listed $150,000 Active
14. 2006-12-01
    listed $139,000
15. 2004-02-10
    soldstatus $58,000
16. 1994-09-06
    soldstatus $42,000
17. 1982-07-01
    soldstatus $39,500

ⓘ 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: $2,268 · $189/mo
• Projected year-2 tax: $2,268 · $189/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 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $25,015
• − Mortgage interest: −$7,842
• − Property taxes: −$2,268
• − Insurance: −$700
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − HOA: −$7,812
• − Depreciation: −$4,073
• Taxable loss: −$1,683
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $575/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 — Dunedin

• Score: 86/100
• State rank: #15
• US rank: #411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunedin, FL
• County: Pinellas County · 939,478 people
• City population: 38,171
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 38,171
• Household income: $74,078
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 1390.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -515.66%
• Current HPI: 387.4694
• Rent YoY: ▲ 2.69%
• 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

+279.7% since first listed

5 events — show timeline

• 2026-05-04 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-01 Listed $139,000 Stellar MLS as Distributed by MLS Grid
• 2004-02-10 Sold (Public Records) $58,000 Public Records
• 1994-09-06 Sold (Public Records) $42,000 Public Records
• 1982-07-01 Sold (Public Records) $39,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $2,268 · +2.3% YoY. Source: county tax records.