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3590 Magnolia Ridge Cir Unit C-1103
D Composite 41.85
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).

  • ARV discount +15.0/15.0
  • Cash flow +6.2/30.0
  • 1% rule +5.8/10.0
  • Schools +5.3/10.0
  • Livability +4.0/5.0
  • Condition / age +3.8/5.0
  • Rent growth +1.2/5.0
  • DSCR +0.6/10.0
  • Appreciation +0.0/10.0

$185,000

3590 Magnolia Ridge Cir Unit C-1103 · Palm Harbor, FL 34684
2 bd · 2.0 ba · 1,010 sqft · Condo · 110 Days on market
Built 1984 Good condition $183/sqft · 17% below area Est $224k · 17% under $630/mo HOA · 32% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to this beautifully updated 2-bedroom, 2-bathroom condo located in the Magnolia Ridge community! Offering over 1,000 square feet of living space, this home features new laminate flooring throughout, creating a modern and cohesive feel. The spacious layout includes a dining room and living room combo, perfect for entertaining, along with a breakfast bar that adds both functionality and charm to the kitchen. You'll also appreciate the convenience of dual sinks, making meal prep and cleanup a breeze. Both bedrooms are generously sized, and the primary suite features a walk-in closet and a renovated bathroom that adds a touch of modern comfort.

Key facts

  • $630 HOA
  • Parking
  • Community pool

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $185k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
  • To cash-flow at today's rent, offer at most $137k (26.1% below list).
  • Meets the 1% rule at list price ($2k rent vs $185k).
  • Recommended offer: $137k (26.1% below list) — sets the bar for cash-flow.
  • Cap rate 4.1% vs local median 3.0% 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: Curlew Creek Elementary School (math 67% / reading 63%, grade B+, #514 of 2,144 statewide, top 24%, 634 students, 43% FRL); Palm Harbor Middle School (math 59% / reading 57%, grade B, #151 of 571 statewide, top 27%, 1,080 students, 37% 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); 465 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 88d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k 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 110 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 32% 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 $136,682 (26.1% 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 110 days. Have you received any prior offers? Is the seller open to a 26% 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
1.08%
Cap rate
4.13%
Cash-on-cash
-7.74%
DSCR
0.66
GRM
7.7

CMA / ARV

ARV (median comp)
$223,558
List price
$185,000
Delta
-17.25%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
36 Maple Leaf Ct 0.41mi 2/2.0 960 (-5%) 1mo $75,500 $79 71
161 Hickory Gate Dr 0.34mi 2/2.0 1,095 (+8%) 1mo $159,000 $145 70
124 W Cypress Ct 1.12mi 2/2.0 1,054 (+4%) 0mo $167,500 $159 58
72 Cottagewood Dr #29 1.44mi 2/2.0 1,056 (+5%) 0mo $153,000 $145 57
208 Cypress Ct 1.03mi 2/2.0 1,054 (+4%) 1mo $130,000 $123 57
2783 Steeple Ct 0.77mi 3/2.0 (+1) 1,035 (+2%) 0mo $390,000 $377 56
2761 Cactus Hill Pl 0.77mi 3/2.0 (+1) 1,035 (+2%) 0mo $325,000 $314 56
3157 Phlox Dr #3157 1.40mi 3/2.0 (+1) 950 (-6%) 0mo $195,000 $205 50
3199 Phlox Dr #214 1.38mi 3/2.0 (+1) 950 (-6%) 0mo $281,400 $296 50
3251 Latana Dr 1.30mi 3/2.0 (+1) 950 (-6%) 1mo $289,900 $305 49
3277 Gorse Ct 1.46mi 2/2.0 1,148 (+14%) 1mo $285,000 $248 42
38 Deer Trail Ct #49 1.25mi 2/2.0 1,152 (+14%) 1mo $103,000 $89 41

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
-35.2%
Equity multiple
-0.09×
Total profit
$-56,669
Equity at exit
$27,584
10-year hold
IRR
-86.5%
Equity multiple
-0.88×
Total profit
$-97,610
Equity at exit
$15,995

Cash invested: $51,800 (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.

Active competition Active MLS

For sale now
2 active
Median asking
$207,500 ($209/sqft)
Median days on market
99 d
This list price
lowest-priced of the active set
ARV vs active asking
+5.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34684

Rents YoY
-5.2%
Active inventory
465
Price-to-rent
7.7×

Monthly cashflow live

Estimated rent
$1,993 high interval (Pro) →
Mortgage (P&I)
$970
Tax est. 1.5%
$231 /mo · $2,775/yr
Insurance
$77
HOA
$630
Vacancy / Maint / Mgmt
$419
Net cashflow
$-334

Break-even live

Break-even rent $2,416
Max offer price $136,682
Occupancy floor

Sensitivity live

Price -10% $-206 -5% $-270 +0% $-334 +5% $-398 +10% $-462
Rent -10% $-491 -5% $-413 +0% $-334 +5% $-255 +10% $-176
Rate -1.0pp $-241 -0.5pp $-287 base $-334 +0.5pp $-382 +1.0pp $-431

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
$46,250
Closing costs
$5,550
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3590 Magnolia Ridge Cir Unit G Palm Harbor, FL 2.0 2.0 1090 $1,695 $1.56 120d 1 0.02mi
3600 Magnolia Ridge Cir #1221 Palm Harbor, FL 2.0 2.0 1090 $1,900 $1.74 7d 1 0.06mi
3583 Whispering Oaks Ln Palm Harbor, FL 2.0 2.5 1124 $1,800 $1.60 120d 1 0.07mi
2897 Thaxton Dr Palm Harbor, FL 2.0 2.0 1150 $2,100 $1.83 32d 1 0.16mi
2879 Thaxton Dr #55 Palm Harbor, FL 2.0 2.5 1396 $2,100 $1.50 83d 1 0.16mi
2897 Thaxton Dr #65 Palm Harbor, FL 2.0 2.5 1390 $2,280 $1.64 100d 1 0.16mi
2843 Thaxton Dr #38 Palm Harbor, FL 2.0 2.5 1406 $1,900 $1.35 7d 1 0.17mi
2843 Thaxton Dr #38 Palm Harbor, FL 2.0 2.5 1406 $1,900 $1.35 40d 1 0.17mi
3460 Countryside Blvd Clearwater, FL 2.0 2.5 1349 $2,350 $1.74 7d 1 0.28mi
3455 Countryside Blvd #31 Clearwater, FL 2.0 2.0 865 $1,900 $2.20 7d 1 0.32mi
3455 Countryside Blvd #4 Clearwater, FL 3.0 2.0 995 $2,050 $2.06 100d 1 0.32mi
3001 Landmark Blvd #101 Palm Harbor, FL 2.0 2.0 1353 $1,950 $1.44 120d 1 0.41mi
692 Bellingham Pl Palm Harbor, FL 3.0 2.0 1320 $2,800 $2.12 100d 1 0.49mi
3028 Bonaventure Cir #103 Palm Harbor, FL 2.0 2.0 900 $1,500 $1.67 120d 1 0.51mi
3610 Sammy Ct Palm Harbor, FL 2.0 1.0 797 $1,900 $2.38 88d 1 0.53mi
3726 Albion Ct Palm Harbor, FL 3.0 2.0 1060 $2,350 $2.22 109d 1 0.53mi
3726 Albion Ct Palm Harbor, FL 3.0 2.0 1060 $2,350 $2.22 109d 1 0.53mi
3025 Bonaventure Cir #101 Palm Harbor, FL 2.0 2.0 900 $1,500 $1.67 32d 1 0.54mi
650 Bellingham Pl Palm Harbor, FL 3.0 2.0 1320 $3,200 $2.42 40d 1 0.55mi
3751 Mackenzie Ct Palm Harbor, FL 3.0 2.0 1160 $2,595 $2.24 84d 1 0.58mi
3019 Bonaventure Cir #101 Palm Harbor, FL 2.0 2.0 900 $1,800 $2.00 7d 1 0.60mi
3781 Lake Shore Dr Palm Harbor, FL 3.0 2.0 1055 $2,500 $2.37 120d 1 0.60mi
2699 Macklin Ct Palm Harbor, FL 2.0 1.0 797 $1,900 $2.38 88d 1 0.61mi
762 Barbara St Palm Harbor, FL 2.0 2.0 1146 $2,200 $1.92 120d 1 0.61mi
2668 Megan Ct Palm Harbor, FL 3.0 1.0 1069 $2,100 $1.96 43d 1 0.61mi
2998 Bonaventure Cir #104 Palm Harbor, FL 2.0 2.0 900 $1,723 $1.91 94d 1 0.62mi
3784 Lake Shore Dr Palm Harbor, FL 3.0 2.0 1150 $2,300 $2.00 43d 1 0.63mi
2682 Rachel Ct Palm Harbor, FL 1.0 1.0 700 $1,350 $1.93 88d 1 0.65mi
2678 Markham Ct Palm Harbor, FL 2.0 2.0 923 $1,999 $2.17 120d 1 0.66mi
3826 Lake Shore Dr Palm Harbor, FL 3.0 2.0 1322 $2,700 $2.04 43d 1 0.69mi
2764 Kavalier Dr Palm Harbor, FL 3.0 2.0 1088 $2,300 $2.11 120d 1 0.71mi
2764 Kavalier Dr Palm Harbor, FL 3.0 2.0 1088 $2,300 $2.11 94d 1 0.71mi
2764 Kavalier Dr Palm Harbor, FL 3.0 2.0 1088 $2,300 $2.11 110d 1 0.71mi
2764 Kavalier Dr Palm Harbor, FL 3.0 2.0 1088 $2,300 $2.11 113d 1 0.71mi
2747 Kavalier Dr Palm Harbor, FL 2.0 2.0 935 $2,200 $2.35 70d 1 0.76mi
3975 Country Place Ln Palm Harbor, FL 1.0–3.0 1.0–2.0 933 $1,703 $1.83 1d 17 0.77mi
2805 Northcote Dr Palm Harbor, FL 3.0 2.0 1100 $2,995 $2.72 1d 1 0.80mi
2803 Northcote Dr Palm Harbor, FL 3.0 2.0 1050 $2,300 $2.19 117d 1 0.80mi
331 Countryside Key Blvd Oldsmar, FL 2.0 2.5 1110 $1,895 $1.71 62d 1 0.82mi
330 Scott Ct Palm Harbor, FL 3.0 2.0 1390 $2,800 $2.01 79d 1 0.82mi

Property features AI

Finance

Financial info
Total annual fees: $7,560Lease restrictions apply
HOA & community
HOA managed by Frankly Coastal Property ManagementMonthly condo fee: $630 (includes cable TV, internet, pool, structure and grounds maintenance, sewer, trash, water)Buyer approval requiredDeed restrictionsPool in communityPets not allowed

Exterior

Parking
Covered parkingGuest parkingReserved parking1-car carport
Utilities
Public waterPublic sewerElectricity available and connectedCable available and connectedBroadband/high-speed internet availableTrash serviceWater available and connectedSewer available and connected
Home design
Attached condominium2 total storiesUnit on floor 1Facing westCompleted condition
Construction
Block, concrete and frame constructionShingle roofSlab foundationBuilt as a residential condominium
Exterior features
PatioExterior lightingRain guttersSidewalksLandscapedPaved surfaces

Interior

Kitchen
DishwasherDisposalMicrowaveRangeRefrigeratorElectric water heater
Bedrooms
2 bedrooms
Flooring
LaminateTile
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (electric)Central air conditioning
Interior features
Built-in featuresCeiling fansLiving room/dining room comboThermostatWalk-in closetsWindow treatmentsBlinds
Laundry & utility
Washer hookupDryer hookup (electric)Inside laundry roomInside utility / laundry area

HOA detail $630/mo · $7,560/yr condo

Assessments
None detected in remarks — confirm with the listing agent.

Listing history 34 events

  1. 2026-07-14
    days on market $185,000 Active 110 DOM
  2. 2026-07-13
    days on market $185,000 Active 109 DOM
  3. 2026-07-13
    days on market $185,000 Active 108 DOM
  4. 2026-07-11
    days on market $185,000 Active 107 DOM
  5. 2026-07-10
    days on market $185,000 Active 106 DOM
  6. 2026-07-09
    days on market $185,000 Active 105 DOM
  7. 2026-07-07
    days on market $185,000 Active 103 DOM
  8. 2026-07-06
    days on market $185,000 Active 102 DOM
  9. 2026-07-06
    days on market $185,000 Active 101 DOM
  10. 2026-07-05
    days on market $185,000 Active 100 DOM
  11. 2026-07-03
    days on market $185,000 Active 99 DOM
  12. 2026-07-02
    days on market $185,000 Active 98 DOM
  13. 2026-07-01
    days on market $185,000 Active 97 DOM
  14. 2026-06-30
    days on market $185,000 Active 96 DOM
  15. 2026-06-29
    days on market $185,000 Active 95 DOM
  16. 2026-06-28
    days on market $185,000 Active 94 DOM
  17. 2026-06-27
    days on market $185,000 Active 93 DOM
  18. 2026-06-26
    days on market $185,000 Active 92 DOM
  19. 2026-06-24
    days on market $185,000 Active 90 DOM
  20. 2026-06-22
    days on market $185,000 Active 88 DOM
  21. 2026-06-22
    days on market $185,000 Active 87 DOM
  22. 2026-06-18
    days on market $185,000 Active 84 DOM
  23. 2026-06-17
    days on market $185,000 Active 83 DOM
  24. 2026-06-16
    days on market $185,000 Active 82 DOM
  25. 2026-06-15
    days on market $185,000 Active 81 DOM
  26. 2026-06-13
    days on market $185,000 Active 79 DOM
  27. 2026-06-09
    days on market $185,000 Active 75 DOM
  28. 2026-06-08
    days on market $185,000 Active 74 DOM
  29. 2026-06-07
    days on market $185,000 Active 73 DOM
  30. 2026-06-04
    days on market $185,000 Active 70 DOM
  31. 2026-06-03
    days on market $185,000 Active 69 DOM
  32. 2026-06-01
    days on market $185,000 Active 67 DOM
  33. 2026-05-31
    days on market $185,000 Active 66 DOM
  34. 2026-03-26
    listed $185,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$23,918
− Mortgage interest
−$10,363
− Property taxes
−$2,775
− Insurance
−$925
− Repairs & maintenance
−$1,913
− Management
−$1,913
− HOA
−$7,560
− Depreciation
−$5,382
Taxable loss
−$6,914
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,659
After-tax cash flow
$-2,348/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $5,050–$15,150 screening

This updated 2-bedroom, 2-bathroom condo in Magnolia Ridge offers modern updates and a fresh look, ready for new owners.

Value-add opportunities

  • Both paint — Fresh paint enhances curb appeal and interior aesthetics
  • Both landscaping — Well-maintained landscaping improves curb appeal and adds value

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Curlew Creek Elementary School B+ FL #514/2,144 Nat'l #5,107/41,679 Middle Palm Harbor Middle School B FL #151/571 Nat'l #2,084/14,009 High Countryside High School F FL #379/667 Nat'l #9,567/17,239

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
A Composite livability gradescore 81/100

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 · 1,027,532 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
8% of renters

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

Price history

1 event — show timeline
  • 2026-03-26 Listed $185,000 Stellar MLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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