820 Virginia St #207 · Dunedin, FL 34698

$125,000

2 bd · 1.0 ba · 1,004 sqft · Condo public records · 549 Days on market

Built 1981 $701/mo HOA · 34% 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 +22.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Welcome to this cozy 2nd floor condo in desirable Patrician Oaks, a 55+ vibrant community near downtown Dunedin. This open floor plan features a spacious kitchen, living/dining combo, a balcony that provides tranquil views all year round, plus two spacious bedrooms and one bathroom with a walk-in tub/shower for your relaxation. There are laundry facilities in the building, and the building has an elevator for your convenience. Conveniently located close to downtown Dunedin where you can enjoy restaurants, festivals, and nightlife. Roof 2018; AC 2012; Windows Replaced 2019; Bath Walk-in tub/shower 2020; Laundry Facility in Building; Clubhouse with wor

Key facts

• Walk-in tub/shower
• $701 HOA
• Parking

Tags

• BALCONY WITH TRANQUIL VIEWS
• WALK-IN TUB/SHOWER
• LAUNDRY FACILITIES IN BUILDING
• CLUBHOUSE WITH WORKOUT ROOM
• HEATED COMMUNITY POOL

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total monthly fees: $701; Total annual fees: $8,412; Land lease: $90
• HOA & community: Patrician Oaks Condo Association (monthly condo fee); Monthly condo fee: $636; Association amenities include clubhouse, elevator, fitness center, pool, spa/hot tub, recreation facilities, maintenance, management; Association fee covers cable TV, common area taxes, pool, escrow reserves, insurance, internet, building & grounds maintenance, pest control, private road, recreational facilities, sewer, trash and water; Association approval required; Senior community; Dogs allowed; Community features: clubhouse, community mailbox, deed restrictions, fitness center, pool, sidewalks, association-owned recreation

Exterior

• Parking: Assigned parking; Guest parking; Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; High‑speed internet available; Electricity available; Phone available; Sewer connected; Water connected
• Home design: Condominium; One story; South-facing
• Construction: Block construction; Built-up roof; Slab foundation
• Exterior features: Covered rear porch; Screened porch; Balcony; Sliding doors; Private mailbox; Sidewalk

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Parquet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Open floorplan; Solid surface countertops; Solid wood cabinets
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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); 478 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $864 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 549 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $125k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 549 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.66% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 5.0

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,866
• Equity at exit: $18,638

10-year hold

• IRR: 4.2%
• Equity multiple: 1.30×
• Total profit: $10,509
• Equity at exit: $10,808

Cash invested: $35,000 (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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,081 high
• Mortgage (P&I): −$656
• Tax from tax record: −$21 /mo · $252/yr
• Insurance: −$52
• HOA: −$701
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $214

Break-even live

Break-even rent $1,810

Max offer price $125,000

Occupancy floor 85%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	16d	2	0.26mi
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	24d	1	0.26mi
920 Lakewood Dr Dunedin, FL	3.0	2.0	1457	$3,000	$2.06	24d	1	0.34mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	24d	1	0.38mi
941 Highland Ave Unit D Dunedin, FL	1.0	1.0	1000	$1,300	$1.30	20d	1	0.40mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	1d	6	0.40mi
556 Patricia Ave Dunedin, FL	2.0	1.0	850	$1,795	$2.11	4d	1	0.41mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	4d	1	0.45mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	24d	1	0.45mi
857 Lyndhurst St Unit D Dunedin, FL	2.0	2.0	1050	$1,700	$1.62	17d	1	0.47mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	4d	1	0.48mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	17d	1	0.49mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	24d	1	0.49mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	7d	1	0.49mi
613 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	10d	1	0.51mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	7d	2	0.51mi
611 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	4d	1	0.51mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	24d	1	0.55mi
1235 Bass Blvd Dunedin, FL	3.0	2.0	1300	$2,550	$1.96	17d	1	0.56mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	4d	1	0.60mi
600 Douglas Ave Unit 350 Dunedin, FL	2.0	1.0	1000	$2,195	$2.19	24d	1	0.64mi
978 Cedarwood Ave Dunedin, FL	2.0	1.0	1100	$1,800	$1.64	24d	1	0.64mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	4d	1	0.67mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	16d	1	0.69mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	1d	9	0.70mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.72mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	3d	1	0.73mi
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	3d	12	0.73mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.73mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	4d	1	0.74mi
1479 Ruth Rd Dunedin, FL	2.0	2.0	1235	$2,700	$2.19	24d	1	0.81mi
1525 Ruth Rd Dunedin, FL	2.0	2.0	1379	$3,200	$2.32	4d	1	0.88mi
526 Belmist Ct Dunedin, FL	3.0	2.0	1480	$2,700	$1.82	24d	1	0.90mi
541 Roanoke St Dunedin, FL	2.0	2.0	912	$2,345	$2.57	14d	1	0.96mi
253 Park Cir S Dunedin, FL	3.0	2.0	1500	$4,500	$3.00	4d	1	1.02mi
152 Macalpine Way Dunedin, FL	1.0–3.0	1.0–2.5	943	$2,084	$2.21	1d	42	1.05mi
53 Highland Ave Dunedin, FL	2.0	1.0	1128	$1,800	$1.60	2d	1	1.05mi
1523 Bayshore Blvd Unit 6 Dunedin, FL	3.0	1.0	1061	$3,000	$2.83	24d	1	1.06mi
662 Union St Unit 1A Dunedin, FL	3.0	1.0	1100	$1,749	$1.59	21d	1	1.07mi
1005 Egret Ct Dunedin, FL	2.0	2.0	996	$1,400	$1.41	4d	1	1.10mi

HOA detail condo

• Monthly dues: $701 · $8,412/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   status $125,000 Pending 549 DOM
3. 2026-06-04
   days on market $125,000 Active 549 DOM
4. 2026-06-03
   days on market $125,000 Active 548 DOM
5. 2026-06-01
   days on market $125,000 Active 546 DOM
6. 2026-05-31
   days on market $125,000 Active 545 DOM
7. 2026-02-12
   price $125,000
8. 2026-02-06
   price $130,000
9. 2025-09-15
   price $140,000
10. 2025-07-02
    price $155,000
11. 2025-06-19
    status Active
12. 2025-05-31
    historical
13. 2025-04-11
    price $160,000
14. 2025-03-19
    price $165,000
15. 2025-02-28
    price $170,000
16. 2024-11-14
    listed $175,000 Active
17. 2018-03-17
    historical
18. 2018-03-06
    listed $105,000 Active
19. 2001-11-20
    soldstatus $48,000
20. 2001-04-18
    soldstatus $33,000
21. 1981-01-01
    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: $252 · $21/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$786/yr (+$65/mo · 311.7%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,973
• − Mortgage interest: −$7,002
• − Property taxes: −$252
• − Insurance: −$625
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − HOA: −$8,412
• − Depreciation: −$3,636
• Taxable income: $1,050
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,321/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

+177.8% since first listed

15 events — show timeline

• 2026-02-12 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $130,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-15 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-05-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-11 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-19 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-28 Price Changed $170,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-14 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2018-03-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-03-06 Listed $105,000 Stellar MLS as Distributed by MLS Grid
• 2001-11-20 Sold (Public Records) $48,000 Public Records
• 2001-04-18 Sold (Public Records) $33,000 Public Records
• 1981-01-01 Sold (Public Records) $45,000 Public Records

Property tax history

-8.0%/yr

Latest (2025): $252 · +10.4% YoY. Source: county tax records.