12901 Fairway Dr Unit D · Bayonet Point, FL 34667

$109,900

2 bd · 2.0 ba · 1,144 sqft · Condo public records · 192 Days on market

Built 1975 $410/mo HOA · 25% 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 +24.3/30.0
• 1% rule +9.8/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Second floor corner unit, open deck off kitchen 4 x 10, great for bar-b-ques and extra eating space. Screen enclosed deck 8 x 13 off living room, nice for evening cocktails or quiet time for reading. Furniture available. This unit has two bedrooms, split plan, two full baths, formal dining room, eat-in kitchen, large living room 11 x 30 mol, inside laundry facility, covered parking. Close to shopping, restaurants and medical facilities, golf course community. Make this your second home or retirementhome.

Key facts

• Fitness center
• Community pool
• Tennis courts

Tags

• COMMUNITY POOL
• RECREATION CENTER
• BEACON WOODS CIVIC CENTER
• FITNESS CENTER
• TENNIS COURTS
• LIGHT AND BRIGHT KITCHEN

Property features AI

Finance

• Other: Association contact/management listed; Directions: Clocktower Pkwy to Wedgewood Way to North on Fairway
• Financial info: Total annual fees $4,920; Lease restrictions apply
• HOA & community: Has HOA (Management & Associates/Carla); Monthly condo fee $410 (monthly), includes cable TV, grounds maintenance, general maintenance, pool, recreational facilities, sewer, trash, and water; Association approval required; Community amenities: clubhouse, pool, tennis courts, golf, association-owned recreation; deed restrictions; buyer approval required; Senior community; Pets allowed (max 20 lbs)

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Sewer and water service included in association
• Home design: Condominium; Residential property; Completed condition; South-facing; Two stories total; unit on second floor; Slab foundation
• Construction: Block and stucco construction; Shingle roof
• Exterior features: Storage; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms (includes second-floor unit information)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Living room/dining room combo; Split bedroom floor plan; Walk-in closet(s)
• Laundry & utility: Washer and dryer included; Laundry located in kitchen / inside in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.3% in Bayonet Point — 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 69/100 on livability (#485 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D+, schools F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.3%/yr); 790 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $110k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1975 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.48% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-8,206
• Equity at exit: $16,386

10-year hold

• IRR: -3.8%
• Equity multiple: 0.79×
• Total profit: $-6,445
• Equity at exit: $9,502

Cash invested: $30,772 (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 34667

• Rents YoY: -2.3%
• Active inventory: 790
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$576
• Tax from tax record: −$26 /mo · $317/yr
• Insurance: −$46
• HOA: −$410
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $222

Break-even live

Break-even rent $1,340

Max offer price $109,900

Occupancy floor 81%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8305 Sandwedge Cir Unit A Hudson, FL	2.0	2.0	1144	$1,450	$1.27	22d	1	0.19mi
13102 Pembrook Ct Hudson, FL	2.0	2.0	1221	$1,575	$1.29	24d	1	0.33mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	24d	1	0.41mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	0.43mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,685	$2.21	2d	59	0.78mi
7602 Danube Dr Unit 7602 Hudson, FL	2.0	2.0	1125	$1,600	$1.42	24d	1	0.91mi
7616 Danube Dr Hudson, FL	2.0	2.0	1125	$1,350	$1.20	24d	1	0.95mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,468	$1.33	2d	10	0.97mi
12809 College Hill Dr Hudson, FL	3.0	2.0	1114	$1,780	$1.60	5d	1	1.00mi
7433 Greystone Dr #7433 Hudson, FL	2.0	2.0	1029	$1,300	$1.26	18d	1	1.04mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	1.07mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	18d	1	1.07mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	24d	1	1.11mi
12702 Social Dr Hudson, FL	2.0	1.0	1032	$1,500	$1.45	5d	1	1.13mi
7300 Country Club Dr Hudson, FL	2.0	1.0	926	$1,400	$1.51	2d	1	1.17mi
11635 Salmon Dr Port Richey, FL	2.0	1.5	816	$1,500	$1.84	24d	1	1.18mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	5d	1	1.19mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	22d	1	1.19mi
11630 Paige Dr Port Richey, FL	3.0	1.0	1152	$1,680	$1.46	12d	1	1.29mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	24d	1	1.36mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	11d	1	1.36mi
12909 Litewood Dr Hudson, FL	3.0	2.0	1000	$1,645	$1.65	24d	1	1.36mi
12909 Litewood Dr Hudson, FL	3.0	2.0	984	$1,645	$1.67	18d	1	1.36mi
11610 Meadow Dr Port Richey, FL	2.0	2.0	1128	$1,570	$1.39	12d	1	1.37mi
9723 Tom St Unit 9723 Hudson, FL	1.0	1.0	720	$1,300	$1.81	24d	1	1.44mi
9723 Tom St Hudson, FL	1.0	1.0	720	$1,100	$1.53	3d	1	1.44mi
9723 Tom St Hudson, FL	2.0	1.0	1152	$1,200	$1.04	18d	1	1.44mi
7715 Sue Ellen Dr Port Richey, FL	2.0	2.0	1080	$1,495	$1.38	3d	1	1.49mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-11
   status Pending
2. 2026-05-02
   status Active
3. 2026-04-29
   historical
4. 2026-04-13
   price $109,900
5. 2026-03-06
   price $119,877
6. 2026-02-13
   status Active
7. 2026-01-19
   status Pending
8. 2026-01-07
   price $119,900
9. 2025-10-02
   listed $129,900 Active
10. 2012-12-20
    soldstatus $37,000 509-char remark

    Show marketing remark (509 chars)

    Second floor corner unit, open deck off kitchen 4 x 10, great for bar-b-ques and extra eating space. Screen enclosed deck 8 x 13 off living room, nice for evening cocktails or quiet time for reading. Furniture available. This unit has two bedrooms, split plan, two full baths, formal dining room, eat-in kitchen, large living room 11 x 30 mol, inside laundry facility, covered parking. Close to shopping, restaurants and medical facilities, golf course community. Make this your second home or retirementhome.

11. 2012-12-20
    soldstatus $37,000

    Show marketing remark (509 chars)

    Second floor corner unit, open deck off kitchen 4 x 10, great for bar-b-ques and extra eating space. Screen enclosed deck 8 x 13 off living room, nice for evening cocktails or quiet time for reading. Furniture available. This unit has two bedrooms, split plan, two full baths, formal dining room, eat-in kitchen, large living room 11 x 30 mol, inside laundry facility, covered parking. Close to shopping, restaurants and medical facilities, golf course community. Make this your second home or retirementhome.

12. 2011-10-19
    listed $41,900 509-char remark

    Show marketing remark (509 chars)

    Second floor corner unit, open deck off kitchen 4 x 10, great for bar-b-ques and extra eating space. Screen enclosed deck 8 x 13 off living room, nice for evening cocktails or quiet time for reading. Furniture available. This unit has two bedrooms, split plan, two full baths, formal dining room, eat-in kitchen, large living room 11 x 30 mol, inside laundry facility, covered parking. Close to shopping, restaurants and medical facilities, golf course community. Make this your second home or retirementhome.

13. 1998-02-17
    soldstatus $42,500

ⓘ 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: $317 · $26/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$595/yr (+$50/mo · 187.3%)

ⓘ 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) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,453
• − Mortgage interest: −$6,156
• − Property taxes: −$317
• − Insurance: −$550
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − HOA: −$4,920
• − Depreciation: −$3,197
• Taxable income: $1,201
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,377/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: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Bayonet Point

• Score: 69/100
• State rank: #485
• US rank: #8934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayonet Point, FL
• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 30,689
• Household income: $51,280
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 946.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 0%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.96%
• Current HPI: 307.5552
• Rent YoY: ▼ -2.26%
• 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

+158.6% since first listed

13 events — show timeline

• 2026-05-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $109,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $119,877 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-02 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2012-12-20 Sold (Public Records) $37,000 Public Records
• 2012-12-20 Sold (MLS) $37,000 Stellar MLS as Distributed by MLS Grid
• 2011-10-19 Listed $41,900 Stellar MLS as Distributed by MLS Grid
• 1998-02-17 Sold (Public Records) $42,500 Public Records

Property tax history

-5.2%/yr

Latest (2025): $317 · +7.6% YoY. Source: county tax records.