264 S Port Royal Ln · Apollo Beach, FL 33572

$104,900

2 bd · 1.0 ba · 684 sqft · Condo public records · 118 Days on market

Built 1969 $242/mo HOA ↓ 13% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT! Caribbean Isles Residential Cooperative is a highly desired community to live in. This a single wide home with lots of charm. Nice eat in Kitchen and fully furnished for the single or couple looking for that Snowbird paradise. Has a large Primary Bedroom. The HVAC is near new. Caribbean Isles is a VERY Active 55+ community. From Shuffleboard and Bocce Ball to Corn Hole and Horseshoes. We welcome Golf Carts and several times a year we gather and decorate for Parades. The Clubhouse is used for Dances, Games, Dinners and more. In the Clubhouse we have a well-stocked Library and a large Craft Room. The Game Room has 3 Billiard Tables, 2 Poker Tables, a Bar Shuffleboard with 2 Dart Boards. Don't miss this opportunity come claim your piece of retirement paradise.

Key facts

• Large craft room
• Clubhouse
• Eat in kitchen

Tags

• EAT IN KITCHEN
• LARGE PRIMARY BEDROOM
• NEAR NEW HVAC
• CLUBHOUSE
• WELL-STOCKED LIBRARY
• LARGE CRAFT ROOM

🏢 Co-op / cooperative unit. The $104,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#333 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 761 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,459 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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'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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.80% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.97%
• DSCR: 1.98
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-8,804
• Equity at exit: $15,641

10-year hold

• IRR: 2.7%
• Equity multiple: 1.21×
• Total profit: $6,028
• Equity at exit: $9,070

Cash invested: $29,372 (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 33572

• Rents YoY: 3.4%
• Active inventory: 761
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$44
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $111

Break-even live

Break-even rent $1,745

Max offer price $104,900

Occupancy floor 89%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
349 Apollo Beach Blvd Apollo Beach, FL	2.0	1.0	583	$1,700	$2.92	3d	12	0.10mi
6350 Union Station Ct Apollo Beach, FL	3.0	1.0–2.0	1105	$2,372	$2.15	1d	42	0.72mi
1021 Apollo Beach Blvd #3 Apollo Beach, FL	1.0	1.0	625	$1,750	$2.80	5d	1	1.39mi
1025 Apollo Beach Blvd Unit B Apollo Beach, FL	1.0	1.0	625	$1,500	$2.40	24d	1	1.40mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $104,900 Active 118 DOM
2. 2026-06-17
   days on market $104,900 Active 117 DOM
3. 2026-06-16
   days on market $104,900 Active 116 DOM
4. 2026-06-15
   days on market $104,900 Active 115 DOM
5. 2026-06-13
   days on market $104,900 Active 113 DOM
6. 2026-06-13
   days on market $104,900 Active 112 DOM
7. 2026-06-09
   days on market $104,900 Active 109 DOM
8. 2026-06-08
   days on market $104,900 Active 108 DOM
9. 2026-06-07
   days on market $104,900 Active 107 DOM
10. 2026-06-04
    days on market $104,900 Active 104 DOM
11. 2026-06-03
    days on market $104,900 Active 103 DOM
12. 2026-06-02
    days on market $104,900 Active 102 DOM
13. 2026-06-01
    days on market $104,900 Active 101 DOM
14. 2026-05-31
    days on market $104,900 Active 100 DOM
15. 2026-04-20
    price $104,900 786-char remark

    Show marketing remark (786 chars)

    PRICE IMPROVEMENT! Caribbean Isles Residential Cooperative is a highly desired community to live in. This a single wide home with lots of charm. Nice eat in Kitchen and fully furnished for the single or couple looking for that Snowbird paradise. Has a large Primary Bedroom. The HVAC is near new. Caribbean Isles is a VERY Active 55+ community. From Shuffleboard and Bocce Ball to Corn Hole and Horseshoes. We welcome Golf Carts and several times a year we gather and decorate for Parades. The Clubhouse is used for Dances, Games, Dinners and more. In the Clubhouse we have a well-stocked Library and a large Craft Room. The Game Room has 3 Billiard Tables, 2 Poker Tables, a Bar Shuffleboard with 2 Dart Boards. Don't miss this opportunity come claim your piece of retirement paradise.

16. 2026-02-20
    listed $114,900 Active 786-char remark

    Show marketing remark (786 chars)

    PRICE IMPROVEMENT! Caribbean Isles Residential Cooperative is a highly desired community to live in. This a single wide home with lots of charm. Nice eat in Kitchen and fully furnished for the single or couple looking for that Snowbird paradise. Has a large Primary Bedroom. The HVAC is near new. Caribbean Isles is a VERY Active 55+ community. From Shuffleboard and Bocce Ball to Corn Hole and Horseshoes. We welcome Golf Carts and several times a year we gather and decorate for Parades. The Clubhouse is used for Dances, Games, Dinners and more. In the Clubhouse we have a well-stocked Library and a large Craft Room. The Game Room has 3 Billiard Tables, 2 Poker Tables, a Bar Shuffleboard with 2 Dart Boards. Don't miss this opportunity come claim your piece of retirement paradise.

17. 2025-10-10
    historical
18. 2025-07-16
    price $104,900
19. 2025-04-12
    listed $119,900 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: $1,392 · $116/mo
• Projected year-2 tax: $1,392 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,626
• − Mortgage interest: −$5,876
• − Property taxes: −$1,392
• − Insurance: −$5,643
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$2,904
• − Depreciation: −$3,052
• Taxable income: $139
• Est. tax owed @ 24.0%: −$33
• After-tax cash flow: $1,300/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Apollo Beach

• Score: 72/100
• State rank: #333
• US rank: #5784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apollo Beach, FL
• County: Hillsborough County · 1,540,968 people
• City population: 26,495
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 26,495
• Household income: $122,130
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 381.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Guatemala
• Languages at home: 86% English-only · Spanish 10% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -393.97%
• Current HPI: 300.9596
• Rent YoY: ▲ 3.36%
• 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

-12.5% since first listed

5 events — show timeline

• 2026-04-20 Price Changed $104,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-16 Price Changed $104,900 Stellar MLS as Distributed by MLS Grid
• 2025-04-12 Listed $119,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $1,392 · +10.0% YoY. Source: county tax records.