1250 S Pinellas Ave #214 · Tarpon Springs, FL 34689

$150,000

2 bd · 2.0 ba · 871 sqft · Condo public records · 76 Days on market

Built 1974 $540/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 +11.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully renovated corner-unit condo in the sought-after Green Dolphin community! This stunning 871-square-foot residence features two bedrooms and two fully updated bathrooms, offering true move-in-ready convenience. Step inside to find wood-look tile flooring throughout, complemented by refreshed interior doors for a cohesive, contemporary feel. The kitchen shines with rich wood cabinetry, beautiful stone backsplashes and sleek granite countertops—perfect for everyday living and entertaining alike. Both bathrooms have been tastefully modernized, so you can settle in without lifting a finger. Relax and unwind on your screened-in balcony—an ideal spot for morn

Key facts

• $540 HOA
• Community pool
• Built 1974

Property features AI

Finance

• Financial info: Total monthly fees $540; Total annual fees $6,480; Lease restrictions apply
• HOA & community: Monthly HOA $540 (Condominium Associates); HOA includes cable TV, internet, insurance, maintenance (structure & grounds), pool, pest control, recreational facilities, trash, water, common area taxes, escrow reserves; Association approval required; Buyer approval required; Clubhouse; Fitness center; Pool; Tennis courts; Association recreation owned; Deed restrictions; Street lights; Sidewalks; Pets allowed (max 24 lbs); Partially furnished

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Internet available; Sewer connected; Water connected; Sprinkler recycled
• Home design: Condominium; One story (unit on 2nd floor); Faces west
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building number 200
• Exterior features: Balcony; Sliding doors; Sidewalk; Tennis courts; Irrigation equipment

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Living room/dining room combo; Split bedroom layout; Solid surface and stone counters; Solid wood cabinets; Thermostat
• Laundry & utility: Laundry: Other; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-57 ($-682/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (6.7% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $140k (6.7% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.4% in Tarpon Springs — 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 68/100 on livability (#502 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment C-, amenities F, commute 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: Sunset Hills Elementary School (math 72% / reading 72%, grade A-, #288 of 2,144 statewide, top 15%, 451 students, 52% FRL); Tarpon Springs High School (math 30% / reading 47%, grade F, #321 of 667 statewide, top 49%, 1,139 students, 46% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents soft (-1.2%/yr); 399 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 76 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $75k; list at $150k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $139,965 (6.7% 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 76 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.17% ✓
• Cap rate: 5.84%
• Cash-on-cash: -1.62%
• DSCR: 0.93
• GRM: 7.1

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: -23.6%
• Equity multiple: 0.22×
• Total profit: $-32,792
• Equity at exit: $22,365

10-year hold

• IRR: -37.9%
• Equity multiple: -0.24×
• Total profit: $-51,972
• Equity at exit: $12,969

Cash invested: $42,000 (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 34689

• Rents YoY: -1.2%
• Active inventory: 399
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$787
• Tax from tax record: −$55 /mo · $655/yr
• Insurance: −$62
• HOA: −$540
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-57

Break-even live

Break-even rent $1,827

Max offer price $139,965

Occupancy floor 98%

Sensitivity live

Price	-10% $28	-5% $-14	+0% $-57	+5% $-99	+10% $-142
Rent	-10% $-195	-5% $-126	+0% $-57	+5% $13	+10% $82
Rate	-1.0pp $19	-0.5pp $-19	base $-57	+0.5pp $-96	+1.0pp $-135

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 S Pinellas Ave #504 Tarpon Springs, FL	1.0	1.0	565	$1,099	$1.95	25d	1	0.06mi
329 Moorings Cove Dr Tarpon Springs, FL	2.0	2.0	1020	$1,700	$1.67	21d	1	0.15mi
812 Bayou Ave Unit B Tarpon Springs, FL	1.0	1.0	675	$1,450	$2.15	25d	1	0.26mi
1185 S Pinellas Ave Tarpon Springs, FL	1.0–3.0	1.0–2.0	1013	$2,154	$2.12	2d	21	0.27mi
817 Margo St Tarpon Springs, FL	2.0	1.0	792	$1,600	$2.02	25d	1	0.28mi
101 W Lemon St Apt 3 Tarpon Springs, FL	1.0	1.0	650	$1,350	$2.08	22d	1	0.55mi
101 W Lemon St Unit 4 Tarpon Springs, FL	1.0	1.0	650	$1,450	$2.23	15d	1	0.55mi
101 W Lemon St Tarpon Springs, FL	1.0	1.0	650	$1,450	$2.23	5d	1	0.55mi
105 S Spring Blvd Unit 10 Tarpon Springs, FL	1.0	1.0	700	$1,350	$1.93	25d	1	0.60mi
316 E Boyer St Tarpon Springs, FL	3.0	1.0	936	$1,749	$1.87	25d	1	0.64mi
320 S Grosse Ave Tarpon Springs, FL	3.0	1.0	936	$1,749	$1.87	25d	1	0.65mi
524 E Lime St Tarpon Springs, FL	2.0	1.0	775	$1,600	$2.06	25d	1	0.78mi
1990 Carolina Ave Tarpon Springs, FL	3.0	1.0	960	$1,250	$1.30	22d	1	0.92mi
103 E Park St Tarpon Springs, FL	3.0	1.0	999	$3,000	$3.00	25d	1	0.95mi
501 Saint Michaels Way Unit 520 Tarpon Springs, FL	2.0	2.0	1000	$1,595	$1.59	25d	1	0.97mi
412 Riverside Dr Tarpon Springs, FL	2.0	1.0	900	$2,300	$2.56	5d	1	1.00mi
542 Division St Tarpon Springs, FL	2.0	1.0	629	$1,400	$2.23	12d	1	1.01mi
650 E Tarpon Ave Unit C1 Tarpon Springs, FL	3.0	2.0	900	$2,000	$2.22	8d	1	1.01mi
39650 US Highway 19 N #141 Tarpon Springs, FL	2.0	2.0	950	$1,550	$1.63	5d	1	1.08mi
673 Haven Pl #673 Tarpon Springs, FL	2.0	1.5	960	$1,450	$1.51	15d	1	1.08mi
640 Haven Pl #640 Tarpon Springs, FL	2.0	1.5	960	$1,595	$1.66	8d	1	1.13mi
4805 Alt 19 #221 Palm Harbor, FL	2.0	1.5	901	$2,000	$2.22	25d	1	1.14mi
606 Cross St Tarpon Springs, FL	1.0	1.0	551	$1,450	$2.63	2d	1	1.18mi
1669 Seascape Cir #1669 Tarpon Springs, FL	2.0	2.0	1070	$2,200	$2.06	25d	1	1.26mi
825 Cypress St Tarpon Springs, FL	1.0–2.0	1.0	750	$1,723	$2.30	3d	6	1.36mi
300 S Florida Ave Unit 100K Tarpon Springs, FL	2.0	2.0	1000	$2,150	$2.15	25d	1	1.39mi
707 E Spruce St Tarpon Springs, FL	3.0	1.0	967	$1,700	$1.76	11d	1	1.40mi
1805 Mariner Dr #52 Tarpon Springs, FL	2.0	2.0	1065	$2,000	$1.88	22d	1	1.45mi
1113 E Lime St Tarpon Springs, FL	2.0	1.0	780	$1,200	$1.54	4d	1	1.47mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $150,000 Active 76 DOM
2. 2026-06-17
   days on market $150,000 Active 75 DOM
3. 2026-06-16
   days on market $150,000 Active 74 DOM
4. 2026-06-15
   days on market $150,000 Active 73 DOM
5. 2026-06-13
   days on market $150,000 Active 71 DOM
6. 2026-06-09
   days on market $150,000 Active 67 DOM
7. 2026-06-08
   days on market $150,000 Active 66 DOM
8. 2026-06-07
   days on market $150,000 Active 65 DOM
9. 2026-06-04
   days on market $150,000 Active 62 DOM
10. 2026-06-03
    days on market $150,000 Active 61 DOM
11. 2026-06-01
    days on market $150,000 Active 59 DOM
12. 2026-05-31
    days on market $150,000 Active 58 DOM
13. 2026-05-05
    status Active
14. 2026-04-27
    status Pending
15. 2026-03-26
    listed $150,000 Active
16. 2026-03-17
    historical
17. 2026-02-21
    price $150,000
18. 2025-12-07
    price $160,000
19. 2025-11-11
    price $165,000
20. 2025-10-16
    price $172,000
21. 2025-09-02
    status Active
22. 2025-09-02
    price $180,000
23. 2025-07-31
    status Pending
24. 2025-06-13
    price $190,000
25. 2025-05-13
    listed $210,000 Active
26. 2018-10-25
    soldstatus $74,900
27. 2018-07-11
    historical
28. 2018-06-23
    price $74,900
29. 2018-04-11
    listed $78,900 Active
30. 2015-01-09
    historical
31. 2014-06-14
    status Active
32. 2014-06-10
    historical
33. 2014-05-30
    listed $65,000 Active
34. 2006-05-02
    soldstatus $98,000
35. 2004-03-08
    soldstatus $74,000
36. 1997-06-04
    soldstatus $48,000
37. 1995-12-08
    soldstatus $52,000
38. 1991-11-26
    soldstatus $41,500
39. 1987-12-01
    soldstatus $41,000

ⓘ 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: $655 · $55/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$590/yr (+$49/mo · 90.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,066
• − Mortgage interest: −$8,402
• − Property taxes: −$655
• − Insurance: −$750
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − HOA: −$6,480
• − Depreciation: −$4,364
• Taxable loss: −$2,955
• Est. tax savings @ 24.0%: +$709
• After-tax cash flow: $28/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 — Tarpon Springs

• Score: 68/100
• State rank: #502
• US rank: #9244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tarpon Springs, FL
• County: Pinellas County · 939,478 people
• City population: 27,324
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,324
• Household income: $74,854
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 721.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Other Indo-European 6% Spanish 6% 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: ▼ -300.96%
• Current HPI: 303.7434
• Rent YoY: ▼ -1.16%
• 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

+265.9% since first listed

27 events — show timeline

• 2026-05-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-07 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-11 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-16 Price Changed $172,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-13 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2018-10-25 Sold (Public Records) $74,900 Public Records
• 2018-07-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-06-23 Price Changed $74,900 Stellar MLS as Distributed by MLS Grid
• 2018-04-11 Listed $78,900 Stellar MLS as Distributed by MLS Grid
• 2015-01-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-06-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-05-30 Listed $65,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-02 Sold (Public Records) $98,000 Public Records
• 2004-03-08 Sold (Public Records) $74,000 Public Records
• 1997-06-04 Sold (Public Records) $48,000 Public Records
• 1995-12-08 Sold (Public Records) $52,000 Public Records
• 1991-11-26 Sold (Public Records) $41,500 Public Records
• 1987-12-01 Sold (Public Records) $41,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $655 · +8.2% YoY. Source: county tax records.