46 Washington Ct #28 · Palm Harbor, FL 34684

$139,900

2 bd · 1.5 ba · 744 sqft · Manufactured public records · 437 Days on market

Built 1969 6,578 sqft lot Est $96k · 46% over $106/mo HOA · 6% 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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. PRICE REDUCED. .. .VERY NICE . .. JUST PROFESSIONALY DECORATED. .SEE NEW PICTURES. .. 2BR/11/2 BATH HOME IN LAKE TARPON VILLAGE . .. CUL-DE-SAC . .. LARGE BEAUTIFULLY LANDSCAPED LOT. .. .HOME SHOWS PRIDE OF OWNERSHIP AT EVERY TURN. .. THIS IS FLORIDA LIVING AT ITS BEST, ,, LOW MAINT $106 MONTHLY. .. ACTIVE 55+ COMMUNITY W/ CLUBHOUSE-HEATED POOL-REC AREA. .AND ACCESS TO BEAUTIFUL LAKE TARPON. ..

Key facts

• Clubhouse
• Rec area
• Cul-de-sac

Tags

• CUL-DE-SAC
• CLUBHOUSE
• HEATED POOL
• REC AREA

Property features AI

Finance

• Other: Buyer approval required for association; Deed restrictions and special community restrictions; Road is privately maintained with a road maintenance agreement
• Financial info: Total annual fees $1,272; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $106); Association name: BETH; Association approval required; HOA covers pool, common area taxes, management, private road, recreational facilities, trash; Community amenities include clubhouse, pool, pickleball and shuffleboard courts, recreation facilities, sidewalks, street lights; Senior community; Pets not allowed

Exterior

• Parking: Driveway; Carport with 1 space
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Fire hydrant nearby; Sprinkler well
• Home design: Residential mobile home (single wide); Attached property; One story; Faces north; Pillar/Post/Pier foundation
• Construction: Metal siding; Metal roof; Built as single wide mobile home
• Exterior features: Screened patio/porch; Private mailbox; Rain gutters; Sidewalk; Storage; Shed(s)

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Thermostat; Window treatments; Blinds; Exhaust fan; Fire alarm; Smoke detectors
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/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: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 31% 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 $967 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 437 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $45k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 437 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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 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: 1.32% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.63%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $95,976
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Freedom Ct #29	0.47mi	2/2.0	816 (+10%)	9mo	$105,000	$129	53

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,376
• Equity at exit: $20,860

10-year hold

• IRR: 8.0%
• Equity multiple: 1.52×
• Total profit: $20,475
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,847 high
• Mortgage (P&I): −$734
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$58
• HOA: −$106
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $478

Break-even live

Break-even rent $1,242

Max offer price $139,900

Occupancy floor 69%

Sensitivity live

Price	-10% $557	-5% $517	+0% $478	+5% $438	+10% $398
Rent	-10% $332	-5% $405	+0% $478	+5% $551	+10% $624
Rate	-1.0pp $548	-0.5pp $513	base $478	+0.5pp $441	+1.0pp $405

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36090 US Highway 19 N Palm Harbor, FL	1.0–3.0	1.0–2.0	1046	$2,557	$2.44	3d	66	0.61mi
36750 US-19 Palm Harbor, FL	1.0	1.0	610	$1,875	$3.07	8d	1	0.65mi
35820 U.S. 19 Unit A2 Palm Harbor, FL	1.0	1.0	740	$1,884	$2.55	5d	1	0.71mi
3295 Fox Chase Cir N #105 Palm Harbor, FL	1.0	1.0	614	$1,850	$3.01	25d	1	0.81mi
2141 Portofino Pl Palm Harbor, FL	1.0	1.0	700	$1,510	$2.16	25d	2	0.95mi
2171 Portofino Pl #2727 Palm Harbor, FL	1.0	1.0	700	$1,550	$2.21	25d	1	1.06mi
2350 Cypress Pond Rd Palm Harbor, FL	1.0–2.0	1.0–2.0	790	$1,670	$2.11	2d	54	1.09mi

HOA detail

• Monthly dues: $106 · $1,272/yr
• Likely covers: pool

Listing history 16 events

1. 2026-05-31
   remarks 437-char remark
2. 2026-05-31
   statusdays on market $139,900 Pending 437 DOM
3. 2026-05-22
   status Active
4. 2026-05-17
   status Pending
5. 2026-03-08
   price $139,900
6. 2026-02-21
   price $149,900
7. 2026-02-09
   price $154,000
8. 2026-01-22
   price $159,900
9. 2025-12-14
   price $164,000
10. 2025-06-05
    price $179,900
11. 2025-03-14
    listed $184,900 Active
12. 2020-07-16
    soldstatus $107,500
13. 2019-02-25
    soldstatus $81,000
14. 2017-12-21
    soldstatus $75,000
15. 2005-11-01
    soldstatus $70,500
16. 1986-09-09
    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: $1,000 · $83/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$161/yr (+$13/mo · 16.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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: $22,161
• − Mortgage interest: −$7,837
• − Property taxes: −$1,000
• − Insurance: −$700
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − HOA: −$1,272
• − Depreciation: −$4,070
• Taxable income: $3,737
• Est. tax owed @ 24.0%: −$897
• After-tax cash flow: $4,835/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

+254.2% since first listed

14 events — show timeline

• 2026-05-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-08 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $154,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-14 Price Changed $164,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-05 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-14 Listed $184,900 Stellar MLS as Distributed by MLS Grid
• 2020-07-16 Sold (Public Records) $107,500 Public Records
• 2019-02-25 Sold (Public Records) $81,000 Public Records
• 2017-12-21 Sold (Public Records) $75,000 Public Records
• 2005-11-01 Sold (Public Records) $70,500 Public Records
• 1986-09-09 Sold (Public Records) $39,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,000 · +3.9% YoY. Source: county tax records.