3736 15th Ter SE · Largo, FL 33771

$225,000

3 bd · 2.0 ba · 870 sqft · SingleFamily public records · 2 Days on market

Built 1959 6,033 sqft lot Est $204k · 11% over

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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 +17.2/30.0
• DSCR +5.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• 1% rule +3.3/10.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Opportunity! Check out this solid block home in an area of home sales with ARV's in the $300K+ range. Great floorplan with Living Room, Large Family Room, Inside Utility/Laundry Room and the Primary Bedroom has ensuite bathroom. Fun and private Backyard with covered patio area, Shed and mature landscaping. Make this your own Home Sweet Home and Oasis! High and Dry location in the Heart of Pinellas County- only 15 mins to PIE Airport, and 20 mins to our beautiful Gulf Beaches! EZ drive to Clearwater, Dunedin and Safety Harbor and many beautiful Parks and waterways.

Key facts

• Large family room
• Private backyard
• Ensuite bathroom

Tags

• SOLID BLOCK HOME
• LARGE FAMILY ROOM
• INSIDE UTILITY LAUNDRY ROOM
• ENSUITE BATHROOM
• PRIVATE BACKYARD
• COVERED PATIO AREA

Property features AI

Finance

• Other: Zoned R-3; Universal property identifier on file
• HOA & community: No association indicated

Exterior

• Parking: Carport with 4 spaces
• Utilities: Electricity connected; Public water connected; Public sewer
• Home design: Single-family residence; One story; Faces north; Property listed as fixer condition
• Construction: Block construction; Block foundation; Shingle roof; Built area about 1,434 total / 1,110 living (public/owner sources)
• Exterior features: Shed(s); Asphalt/paved road access; Lot dimensions approximately 63 x 98; Lot about 0.14 acres

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Concrete; Linoleum; Terrazzo
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric water heater; Range; Refrigerator
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (16.7% below list).
• Recommended offer: $187k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.3% in Largo — 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 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, 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: Walsingham Elementary School (math 62% / reading 52%, grade C+, #781 of 2,144 statewide, top 38%, 392 students, 67% FRL); Largo Middle School (math 38% / reading 35%, grade F, #405 of 571 statewide, top 72%, 882 students, 66% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL).
• Market conditions: Rents soft (-1.1%/yr); 225 active listings in the ZIP; 38 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 37% of the median local income ($60k/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 $2k of loan paydown is wiped out by about $7k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $187,316 (16.7% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $203,580
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1448 Belcher Rd S	0.16mi	3/2.0	966 (+11%)	2mo	$305,000	$316	72
3626 14th Ave SE	0.12mi	3/2.0	929 (+7%)	15mo	$188,999	$203	70
1100 Belcher Rd S #297	0.27mi	2/2.0 (-1)	936 (+8%)	15mo	$176,500	$189	57
1100 Belcher Rd S #157	0.27mi	2/2.0 (-1)	960 (+10%)	16mo	$145,000	$151	51
215 Melody Ln	0.72mi	3/1.0	862 (-1%)	12mo	$250,000	$290	51
591 Capistrano Ct	0.64mi	2/1.0 (-1)	916 (+5%)	7mo	$214,000	$234	47

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: -14.5%
• Equity multiple: 0.49×
• Total profit: $-31,865
• Equity at exit: $33,548

10-year hold

• IRR: -10.8%
• Equity multiple: 0.42×
• Total profit: $-36,301
• Equity at exit: $19,454

Cash invested: $63,000 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 225
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,873 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$46 /mo · $552/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $160

Break-even live

Break-even rent $1,670

Max offer price $225,000

Occupancy floor 86%

Sensitivity live

Price	-10% $288	-5% $224	+0% $160	+5% $96	+10% $33
Rent	-10% $12	-5% $86	+0% $160	+5% $234	+10% $308
Rate	-1.0pp $273	-0.5pp $217	base $160	+0.5pp $102	+1.0pp $43

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3736 141st Pl Largo, FL	2.0	1.0	805	$1,650	$2.05	26d	1	0.08mi
1601 Palm Way Largo, FL	3.0	1.0	1084	$1,950	$1.80	26d	1	0.17mi
3767 138th Ave N Unit B Largo, FL	2.0	1.0	780	$1,495	$1.92	4d	1	0.26mi
3331 Whispering Dr N Largo, FL	2.0	2.0	1053	$2,190	$2.08	26d	1	0.28mi
3718 138th Ave N Unit 2 Largo, FL	2.0	1.0	750	$1,500	$2.00	26d	1	0.29mi
779 34th St SE Unit 1319966P Largo, FL	2.0	1.0	990	$2,941	$2.97	9d	1	0.58mi
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	26d	1	0.59mi
2820 S Pines Dr #132 Largo, FL	2.0	1.5	1048	$1,800	$1.72	0d	1	0.61mi
7001 142nd Ave N Lot 179 Largo, FL	2.0	2.0	1100	$2,495	$2.27	18d	1	0.77mi
3154 Pine Tree Ave Largo, FL	2.0	1.0	847	$2,150	$2.54	0d	1	0.78mi
7001 142nd Ave N #157 Largo, FL	2.0	1.0	800	$1,795	$2.24	20d	1	0.79mi
7001 142nd Ave Largo, FL	2.0	2.0	1100	$1,700	$1.55	26d	1	0.79mi
3135 Pine Tree Ave Largo, FL	2.0	1.0	923	$1,395	$1.51	13d	1	0.81mi
3135 Pine Tree Ave Unit A Largo, FL	2.0	1.0	923	$1,395	$1.51	24d	1	0.81mi
636 Lake Palms Dr Unit Stylish Largo, FL	3.0	2.0	1000	$2,200	$2.20	26d	1	0.81mi
636 Lake Palms Dr Unit Stylish Largo, FL	2.0	2.0	870	$2,000	$2.30	6d	1	0.81mi
3073 Pine Tree Ave Largo, FL	2.0	1.0	825	$1,350	$1.64	26d	1	0.83mi
305 Glades Cir Largo, FL	1.0–3.0	1.0–1.5	875	$1,885	$2.15	0d	36	0.84mi
7298 Ulmerton Rd Largo, FL	1.0–3.0	1.0–2.0	977	$2,000	$2.05	0d	4	0.86mi
7298 Ulmerton Rd Largo, FL	1.0–3.0	1.0–2.0	977	$2,000	$2.05	20d	4	0.86mi
7298 Ulmerton Rd Largo, FL	1.0–2.0	1.0–2.0	755	$1,750	$2.32	5d	3	0.86mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	6d	1	0.98mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	13d	1	0.98mi
3377 Sherwood Dr Unit A Largo, FL	2.0	1.0	1064	$1,650	$1.55	9d	1	1.10mi
2505 E Bay Dr Lot 77 Largo, FL	2.0	1.5	1080	$1,395	$1.29	22d	1	1.15mi
4500 E Bay Dr #138 Clearwater, FL	2.0	2.0	1050	$1,350	$1.29	26d	1	1.16mi
4500 E Bay Dr #149 Clearwater, FL	2.0	2.0	1050	$1,850	$1.76	26d	1	1.16mi
199 Fulton St NE Unit 4 Largo, FL	2.0	1.0	760	$1,600	$2.11	16d	1	1.18mi
4300 E Bay Dr Unit 204 Clearwater, FL	2.0	2.0	720	$1,399	$1.94	0d	1	1.19mi
301 Seacrest Dr Largo, FL	1.0–2.0	1.0–1.5	975	$1,625	$1.67	24d	1	1.21mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$2,199	$2.24	0d	24	1.25mi
19137 US Highway 19 N Unit 2 Clearwater, FL	2.0	2.0	1062	$1,738	$1.64	26d	1	1.32mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	22d	1	1.34mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	24d	1	1.34mi
6430 142nd Ave N Clearwater, FL	1.0–3.0	1.0–2.0	1216	$3,619	$2.97	0d	68	1.39mi
2045 E Bay Dr Largo, FL	1.0–2.0	1.0–2.0	1114	$1,830	$1.64	0d	16	1.40mi
12700 66th St Largo, FL	1.0–3.0	1.0–2.0	1105	$2,662	$2.41	0d	20	1.43mi
14603 64th St N Clearwater, FL	3.0	2.0	1080	$1,900	$1.76	6d	1	1.47mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-11
   listed $225,000 Active

ⓘ 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: $552 · $46/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,316/yr (+$110/mo · 238.5%)

ⓘ 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 · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,478
• − Mortgage interest: −$12,603
• − Property taxes: −$552
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − Depreciation: −$6,545
• Taxable loss: −$1,944
• Est. tax savings @ 24.0%: +$467
• After-tax cash flow: $2,388/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

2 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-11 Listed $225,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-5.7%/yr

Latest (2025): $552 · +5.2% YoY. Source: county tax records.