8402 111th St N #101 · Seminole, FL 33772

$85,999

2 bd · 1.0 ba · 874 sqft · Condo public records · 64 Days on market

Built 1973 $643/mo HOA · 39% of rent ↓ 8% since listing

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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 +18.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional INVESTMENT opportunity, as the property can be rented out immediately after purchase. Discover this well-maintained first-floor 2BR/1BA condo in the vibrant 55+ Seminole Garden community. This unit boasts brand-new hurricane impact windows for peace of mind and energy efficiency, plus a 2025 building roof. Enjoy a no-flood zone location just minutes from the sands of Madeira Beach, top-tier restaurants, and shopping. The community offers resort living with a heated pool, clubhouse, and fitness center. Perfect as a primary residence or a coastal seasonal escape. Book your showing now!

Key facts

• Fitness center
• Clubhouse
• Heated pool

Tags

• HURRICANE IMPACT WINDOWS
• NO-FLOOD ZONE LOCATION
• HEATED POOL
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Other: Unfurnished; Homestead exempt
• Financial info: Total monthly fees $643.89; Total annual fees $7,726.68; Lease restrictions apply
• HOA & community: HOA managed by Ridge Seminole Management; Monthly HOA fee $643.89 (includes cable TV, common area taxes, electricity, internet, structure maintenance, grounds maintenance, pool, sewer, trash); Association approval required; Community amenities: fitness center, pool; Senior community; No pets allowed

Exterior

• Parking: Assigned parking (space #101)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Residential property; Ground-floor unit (Floor 1); Faces west; One level; Part of a 3-story building
• Construction: Block, concrete and stucco construction; Other roof type; Slab foundation; Building identified as BLDG 33-H
• Exterior features: Asphalt road surface; Lot approximately 0.29 acres (0.25–0.49)

Interior

• Kitchen: Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Elevator; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $86k.

Deal economics

• At list price, monthly cash flow is $81 ($966/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.8% in Seminole — 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 88/100 on livability (#5 in FL, #174 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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: Seminole Elementary School (math 65% / reading 57%, grade B, #653 of 2,144 statewide, top 31%, 428 students, 59% FRL); Seminole High School (math 26% / reading 47%, grade F, #351 of 667 statewide, top 54%, 1,546 students, 39% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents flat; 207 active listings in the ZIP; 27 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k 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 64 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.
• 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 $80,839 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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 B-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. 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.
9. 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.
10. 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: 1.94% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.46×
• Total profit: $-13,116
• Equity at exit: $12,823

10-year hold

• IRR: -25.3%
• Equity multiple: 0.11×
• Total profit: $-21,427
• Equity at exit: $7,436

Cash invested: $24,080 (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 33772

• Rents YoY: 0.1%
• Active inventory: 207
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$451
• Tax est. 1.5%: −$107 /mo · $1,290/yr
• Insurance: −$36
• HOA: −$643
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $81

Break-even live

Break-even rent $1,566

Max offer price $85,999

Occupancy floor 90%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8425 112th St #104 Seminole, FL	1.0	1.0	608	$1,300	$2.14	4d	1	0.06mi
11100 86th Ave #101 Seminole, FL	1.0	1.0	874	$1,350	$1.54	17d	1	0.09mi
8555 112th St #206 Seminole, FL	1.0	1.0	638	$1,250	$1.96	4d	1	0.12mi
8450 112th St #103 Seminole, FL	1.0	1.0	608	$1,250	$2.06	24d	1	0.12mi
11200 86th Ave #202 Seminole, FL	2.0	1.0	836	$1,700	$2.03	4d	1	0.15mi
8080 112th St #108 Seminole, FL	1.0	1.0	874	$1,700	$1.95	24d	1	0.22mi
11201 80th Ave #303 Seminole, FL	2.0	2.0	1000	$1,800	$1.80	24d	1	0.25mi
9209 Seminole Blvd Seminole, FL	2.0	1.5	1015	$1,675	$1.65	4d	3	0.59mi
9209 Seminole Blvd Seminole, FL	2.0	1.5	1015	$1,700	$1.67	3d	2	0.59mi
10888 Temple Ave Seminole, FL	2.0	2.0	1101	$2,150	$1.95	3d	1	0.60mi
9209 Seminole Blvd #139 Seminole, FL	2.0	1.5	1015	$1,800	$1.77	24d	1	0.67mi
11700 Park Blvd Seminole, FL	2.0	2.0	1010	$1,400	$1.39	24d	1	0.69mi
11013 Temple Ave Seminole, FL	3.0	1.0	951	$2,050	$2.16	4d	1	0.81mi
8201 120th St Seminole, FL	3.0	2.0	1056	$2,500	$2.37	10d	1	0.84mi
10764 70th Ave Seminole, FL	1.0–2.0	1.0–2.0	828	$2,200	$2.66	3d	2	0.97mi
12100 Park Blvd Seminole, FL	1.0–3.0	1.0–2.5	921	$1,744	$1.89	1d	40	1.00mi
11234 68th Ave Seminole, FL	2.0	1.5	960	$2,400	$2.50	7d	1	1.01mi
12400 Rose St Seminole, FL	2.0	1.0	910	$1,705	$1.87	3d	2	1.14mi
10530 68th Ave Seminole, FL	2.0	1.0	1000	$1,690	$1.69	4d	1	1.14mi
10405 Addison Way Seminole, FL	1.0–3.0	1.0–2.0	1133	$2,351	$2.08	1d	18	1.18mi
12430 Rose St Seminole, FL	2.0	1.0	910	$1,705	$1.87	24d	1	1.19mi
12460 Rose St #15 Seminole, FL	2.0	1.0	910	$1,705	$1.87	24d	1	1.20mi
12450 Rose St #30 Seminole, FL	2.0	1.0	910	$1,705	$1.87	24d	1	1.21mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	24d	1	1.28mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	20d	1	1.28mi
10546 106th Ave N Unit a Largo, FL	1.0	1.0	624	$1,223	$1.96	24d	1	1.43mi
10032 65th Ave N #24 Saint Petersburg, FL	2.0	2.0	1010	$1,650	$1.63	24d	1	1.48mi

HOA detail condo

• Monthly dues: $643 · $7,716/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $85,999 Active 64 DOM
2. 2026-06-17
   days on market $85,999 Active 63 DOM
3. 2026-06-16
   days on market $85,999 Active 62 DOM
4. 2026-06-15
   days on market $85,999 Active 61 DOM
5. 2026-06-13
   days on market $85,999 Active 59 DOM
6. 2026-06-09
   days on market $85,999 Active 55 DOM
7. 2026-06-08
   days on market $85,999 Active 54 DOM
8. 2026-06-07
   pricedays on market $85,999 Active 53 DOM
9. 2026-06-04
   days on market $89,999 Active 50 DOM
10. 2026-06-03
    days on market $89,999 Active 49 DOM
11. 2026-06-01
    days on market $89,999 Active 47 DOM
12. 2026-06-01
    remarks 602-char remark
13. 2026-05-31
    days on market $89,999 Active 46 DOM
14. 2026-05-08
    price $89,999
15. 2026-04-15
    listed $97,999 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 · 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: $20,018
• − Mortgage interest: −$4,817
• − Property taxes: −$1,290
• − Insurance: −$430
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$7,716
• − Depreciation: −$2,502
• Taxable income: $60
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $952/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 — Seminole

• Score: 88/100
• State rank: #5
• US rank: #174

Category grades

Amenities A- Commute A+ Cost of living A- Crime B Employment B Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seminole, FL
• County: Pinellas County · 939,478 people
• City population: 42,315
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 23,733
• Household income: $73,586
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 720.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -485.84%
• Current HPI: 315.303
• Rent YoY: ▲ 0.10%
• 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

-8.2% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $89,999 Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Listed $97,999 Stellar MLS as Distributed by MLS Grid

Property tax history

-9.5%/yr

Latest (2025): $120 · +93.9% YoY. Source: county tax records.