192 Philadelphia Blvd #9 · Palm Harbor, FL 34684

$194,500

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 41 Days on market

Built 1979 5,998 sqft lot Est $229k · 15% under $109/mo HOA · 5% of rent

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Why this score? — see what drove the C+ 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 +23.0/30.0
• ARV discount +14.3/15.0
• DSCR +7.4/10.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking to move into an awesome 55+ community? This community is very active, or you can just relax by the heated pool. Fully furnished and ready for you if you are looking for a well cared for winter home, or an investment to rent out for the season!

Key facts

• 5,998 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Furnished; Irrigation equipment installed; In-ground heated gunite pool with lighting
• Financial info: Lease restrictions apply
• HOA & community: HOA (Beth Ann Bor) with required monthly fee of $109.60; HOA covers pool, common area taxes, trash, private road, management, escrow reserves; Association amenities include clubhouse, pool, shuffleboard court, storage, cable TV; buyer approval required; Senior community; pets allowed; deed restrictions; golf carts allowed; sidewalks; association recreation owned

Exterior

• Parking: Carport (2 spaces)
• Utilities: Private water; Private sewer; Cable available; Electricity connected; Sewer connected; Water connected; Fire hydrant nearby; Sprinkler well
• Home design: Manufactured double-wide home; Single-story; North-facing
• Construction: Vinyl siding and frame construction; Membrane and metal roof; Crawlspace foundation with pier/pillar supports; Built on a 0.14-acre lot (approx. 63 x 96)
• Exterior features: Covered front porch; Sliding doors; Private mailbox; Sidewalks; Landscaped lot; Paved and private lot

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Walk-in closets; Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Electric dryer hookup; Outside laundry access; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $194k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: schools A+, housing A+, commute 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.
• Market conditions: Rents falling (-5.2%/yr); 377 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($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 41 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $194k implies a 332% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $188,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1979 — 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. 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. 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: 1.05% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $229,152
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
251 Independence Ave #20	0.26mi	3/2.0 (+1)	1,084 (+3%)	15mo	$235,000	$217	66

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: -10.2%
• Equity multiple: 0.64×
• Total profit: $-19,628
• Equity at exit: $29,001

10-year hold

• IRR: -5.6%
• Equity multiple: 0.69×
• Total profit: $-17,080
• Equity at exit: $16,817

Cash invested: $54,460 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,033 high
• Mortgage (P&I): −$1,020
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$109
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $280

Break-even live

Break-even rent $1,679

Max offer price $194,500

Occupancy floor 81%

Sensitivity live

Price	-10% $390	-5% $335	+0% $280	+5% $225	+10% $170
Rent	-10% $119	-5% $200	+0% $280	+5% $360	+10% $441
Rate	-1.0pp $378	-0.5pp $329	base $280	+0.5pp $230	+1.0pp $178

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1434	$2,895	$2.02	5d	1	0.05mi
47 Delaware Ct #10 Palm Harbor, FL	2.0	2.0	1008	$1,800	$1.79	20d	1	0.11mi
218 Maple Ave Palm Harbor, FL	3.0	2.0	1374	$2,600	$1.89	18d	1	0.17mi
65 Lake Shore Dr Palm Harbor, FL	2.0	1.0	868	$1,700	$1.96	18d	1	0.19mi
245 Lake Tarpon Dr Palm Harbor, FL	2.0	2.0	1000	$1,995	$2.00	3d	1	0.29mi
72 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1100	$1,800	$1.64	18d	1	0.29mi
274 Beach Ct #42 Palm Harbor, FL	2.0	2.0	1056	$1,600	$1.52	25d	1	0.30mi
36090 US Highway 19 N Palm Harbor, FL	1.0–3.0	1.0–2.0	1046	$2,557	$2.44	3d	66	0.41mi
36750 US Highway 19 N Unit 19-115 Palm Harbor, FL	1.0	1.0	825	$2,150	$2.61	4d	1	0.47mi
2400 Clubside Ct Palm Harbor, FL	1.0–3.0	1.0–2.0	1129	$1,940	$1.72	2d	39	0.50mi
35820 U.S. 19 Unit B1 Palm Harbor, FL	2.0	2.0	1116	$2,245	$2.01	5d	1	0.55mi
35820 U.S. 19 Unit A2 Palm Harbor, FL	1.0	1.0	740	$1,884	$2.55	5d	1	0.55mi
35820 U.S. 19 Unit C1 Palm Harbor, FL	3.0	2.0	1404	$2,781	$1.98	5d	1	0.55mi
3277 Fox Chase Cir N #211 Palm Harbor, FL	2.0	2.0	825	$1,495	$1.81	25d	1	0.57mi
3300 Fox Chase Cir N Palm Harbor, FL	2.0	2.0	906	$2,125	$2.35	2d	2	0.65mi
2141 Portofino Pl Palm Harbor, FL	1.0	1.0	700	$1,510	$2.16	25d	2	0.70mi
2571 Cyprus Dr Unit 1-202 Palm Harbor, FL	2.0	2.0	975	$2,800	$2.87	25d	1	0.72mi
2587 Cyprus Dr Unit 3-214 Palm Harbor, FL	2.0	2.0	825	$2,000	$2.42	25d	1	0.72mi
2571 Cyprus Dr Unit 1-101 Palm Harbor, FL	1.0	1.0	755	$1,900	$2.52	22d	1	0.72mi
2249 Portofino Pl #2221 Palm Harbor, FL	2.0	2.0	1200	$1,795	$1.50	14d	1	0.73mi
2200 Tuscany Trce #15 Palm Harbor, FL	3.0	2.0	1300	$2,300	$1.77	25d	1	0.75mi
2199 Chianti Pl Unit 9-0923 Palm Harbor, FL	2.0	2.0	1030	$2,300	$2.23	25d	1	0.75mi
2151 Chianti Pl Unit 127 Palm Harbor, FL	2.0	2.0	1085	$1,700	$1.57	24d	1	0.75mi
2139 Chianti Pl Unit 154 Palm Harbor, FL	1.0	1.0	830	$1,700	$2.05	25d	1	0.75mi
2218 Portofino Pl #247 Palm Harbor, FL	2.0	2.5	1050	$1,895	$1.80	18d	1	0.76mi
2176 Portofino Pl Unit 26-026 Palm Harbor, FL	1.0	1.0	830	$1,600	$1.93	25d	1	0.79mi
3121 Beecher Dr E Unit A Palm Harbor, FL	2.0	2.0	976	$2,100	$2.15	8d	1	0.80mi
2139 Chianti Pl Unit 15-0153 Palm Harbor, FL	2.0	2.0	1226	$1,823	$1.49	5d	1	0.81mi
2171 Portofino Pl #2727 Palm Harbor, FL	1.0	1.0	700	$1,550	$2.21	25d	1	0.81mi
3023 Beecher Dr E Unit D Palm Harbor, FL	3.0	2.5	1425	$2,400	$1.68	18d	1	0.82mi
2350 Cypress Pond Rd Palm Harbor, FL	1.0–2.0	1.0–2.0	790	$1,670	$2.11	2d	54	0.88mi
2107 Portofino Pl Unit 30-3014 Palm Harbor, FL	3.0	2.0	1350	$2,150	$1.59	4d	1	0.88mi
2107 Portofino Pl Unit 30-302 Palm Harbor, FL	2.0	2.0	1034	$2,500	$2.42	8d	1	0.88mi
2107 Portofino Pl Palm Harbor, FL	2.0	2.0	1055	$2,250	$2.13	5d	2	0.88mi
2945 Grovewood Blvd Unit A Palm Harbor, FL	2.0	2.0	1030	$1,775	$1.72	18d	1	0.95mi
2481 Malcolm Dr Palm Harbor, FL	2.0	2.0	1319	$2,600	$1.97	18d	1	0.95mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,850	$1.80	4d	1	0.98mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,860	$1.81	8d	1	0.98mi
36750 US Highway 19 N Unit 6109 Palm Harbor, FL	1.0	1.0	825	$1,975	$2.39	25d	1	0.99mi
605 Lennox Rd W Palm Harbor, FL	2.0	2.0	1050	$1,950	$1.86	4d	1	1.08mi

HOA detail

• Monthly dues: $109 · $1,308/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-18
   days on market $194,500 Active 41 DOM
2. 2026-06-17
   days on market $194,500 Active 40 DOM
3. 2026-06-16
   days on market $194,500 Active 39 DOM
4. 2026-06-15
   days on market $194,500 Active 38 DOM
5. 2026-06-13
   days on market $194,500 Active 36 DOM
6. 2026-06-09
   days on market $194,500 Active 32 DOM
7. 2026-06-08
   days on market $194,500 Active 31 DOM
8. 2026-06-07
   days on market $194,500 Active 30 DOM
9. 2026-06-04
   days on market $194,500 Active 27 DOM
10. 2026-06-03
    days on market $194,500 Active 26 DOM
11. 2026-06-01
    days on market $194,500 Active 24 DOM
12. 2026-05-31
    days on market $194,500 Active 23 DOM
13. 2026-05-08
    listed $194,500 Active
14. 2000-04-25
    soldstatus $45,000

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $1,614 · $135/mo
• Expected delta: +$1,019/yr (+$85/mo · 171.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,395
• − Mortgage interest: −$10,895
• − Property taxes: −$596
• − Insurance: −$1,770
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − HOA: −$1,308
• − Depreciation: −$5,658
• Taxable income: $265
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $3,295/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

+332.2% since first listed

2 events — show timeline

• 2026-05-08 Listed $194,500 Stellar MLS as Distributed by MLS Grid
• 2000-04-25 Sold (Public Records) $45,000 Public Records

Property tax history

-4.5%/yr

Latest (2025): $596 · +5.9% YoY. Source: county tax records.