1100 Belcher Rd S #760 · Largo, FL 33771

$180,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 1 Days on market

Built 1978 Est $157k · 15% over $420/mo HOA · 22% of rent

---

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 +14.8/30.0
• 1% rule +5.8/10.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious and well-maintained 2-bedroom, 2-bath home featuring a desirable large floor plan designed for comfortable living. This home offers an inviting layout with an inside laundry area and a versatile bonus room at the rear—perfect for a home office, hobby space, or additional relaxation area. Recent updates include beautiful new flooring and upgraded windows, enhancing both style and energy efficiency. The home is being offered furnished, making it truly move-in ready for its next owner. Most appliances have been updated, providing added convenience and peace of mind. Enjoy your morning coffee or unwind in the bright front Florida room with its desirable southern e

Key facts

• 2 parking spots
• Community pool
• Built 1978

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $50 ($596/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 6.6% vs local median 4.2% 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.
• Market conditions: Rents soft (-1.1%/yr); 220 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% 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 $1k of loan paydown is wiped out by about $5k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $86k; list at $180k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $156,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1100 Belcher Rd S #232	0.00mi	2/2.0	1,152 (0%)	1mo	$55,000	$48	99
1100 Belcher Rd S #749	0.00mi	2/2.0	1,200 (+4%)	2mo	$149,900	$125	91
1100 Belcher Rd S #605	0.00mi	2/2.0	1,104 (-4%)	3mo	$110,000	$100	91
1100 Belcher Rd S #123	0.00mi	2/2.0	1,208 (+5%)	5mo	$168,500	$139	88
1100 Belcher Rd S #558	0.00mi	2/2.0	1,222 (+6%)	7mo	$175,000	$143	84
1100 Belcher Rd S #23	0.00mi	2/1.5	1,036 (-10%)	3mo	$109,900	$106	79
1100 Belcher Rd S #366	0.00mi	2/2.0	1,300 (+13%)	3mo	$193,000	$148	76
1100 Belcher Rd S #760	0.00mi	2/2.0	1,321 (+15%)	1mo	$175,000	$132	75
1100 Belcher Rd S #105	0.00mi	2/2.0	1,290 (+12%)	7mo	$175,000	$136	74
1100 Belcher Rd S #403	0.00mi	2/2.0	1,008 (-12%)	8mo	$240,000	$238	72
1100 Belcher Rd S #121	0.00mi	2/2.0	1,008 (-12%)	9mo	$190,000	$188	72
1001 Starkey Rd #476	0.52mi	2/2.0	1,199 (+4%)	3mo	$160,000	$133	67

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: -18.4%
• Equity multiple: 0.37×
• Total profit: $-31,505
• Equity at exit: $26,839

10-year hold

• IRR: -20.0%
• Equity multiple: 0.12×
• Total profit: $-44,581
• Equity at exit: $15,563

Cash invested: $50,400 (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: 220
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$944
• Tax from tax record: −$41 /mo · $490/yr
• Insurance: −$75
• HOA: −$420
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $50

Break-even live

Break-even rent $1,873

Max offer price $180,000

Occupancy floor 92%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Palm Way Largo, FL	3.0	1.0	1084	$1,950	$1.80	24d	1	0.24mi
3331 Whispering Dr N Largo, FL	2.0	2.0	1053	$2,190	$2.08	23d	1	0.29mi
3736 141st Pl Largo, FL	2.0	1.0	805	$1,650	$2.05	24d	1	0.30mi
779 34th St SE Unit 1319966P Largo, FL	2.0	1.0	990	$2,941	$2.97	7d	1	0.34mi
14875 Cromwell Dr Clearwater, FL	3.0	2.0	1485	$2,195	$1.48	16d	1	0.44mi
3030 Whispering Dr N Largo, FL	3.0	2.0	1348	$3,600	$2.67	24d	1	0.44mi
3767 138th Ave N Unit B Largo, FL	2.0	1.0	780	$1,495	$1.92	1d	1	0.48mi
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	24d	1	0.50mi
3718 138th Ave N Unit 2 Largo, FL	2.0	1.0	750	$1,500	$2.00	24d	1	0.50mi
3135 Pine Tree Ave Largo, FL	2.0	1.0	923	$1,395	$1.51	10d	1	0.57mi
3135 Pine Tree Ave Unit A Largo, FL	2.0	1.0	923	$1,395	$1.51	21d	1	0.57mi
636 Lake Palms Dr Unit Stylish Largo, FL	2.0	2.0	870	$2,000	$2.30	4d	1	0.58mi
636 Lake Palms Dr Unit Stylish Largo, FL	3.0	2.0	1000	$2,200	$2.20	24d	1	0.58mi
3073 Pine Tree Ave Largo, FL	2.0	1.0	825	$1,350	$1.64	24d	1	0.59mi
8775 Christie Dr Largo, FL	2.0	3.0	1300	$2,198	$1.69	17d	1	0.69mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	4d	1	0.74mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	10d	1	0.74mi
3377 Sherwood Dr Unit A Largo, FL	2.0	1.0	1064	$1,650	$1.55	7d	1	0.88mi
7001 142nd Ave Largo, FL	2.0	2.0	1100	$1,700	$1.55	24d	1	0.88mi
7001 142nd Ave N Lot 179 Largo, FL	2.0	2.0	1100	$2,495	$2.27	16d	1	0.91mi
2505 E Bay Dr Lot 77 Largo, FL	2.0	1.5	1080	$1,395	$1.29	20d	1	0.92mi
7001 142nd Ave N #157 Largo, FL	2.0	1.0	800	$1,795	$2.24	17d	1	0.94mi
9122 Jakes Path Largo, FL	3.0	2.5	1461	$2,600	$1.78	24d	1	0.95mi
199 Fulton St NE Unit 4 Largo, FL	2.0	1.0	760	$1,600	$2.11	14d	1	0.95mi
960 Starkey Rd #8402 Largo, FL	2.0	2.0	1324	$2,200	$1.66	24d	1	0.95mi
960 Starkey Rd #5105 Largo, FL	2.0	2.0	1324	$2,295	$1.73	24d	1	0.98mi
301 Seacrest Dr Largo, FL	1.0–2.0	1.0–1.5	975	$1,625	$1.67	21d	1	0.99mi
2227 Rose Ln Clearwater, FL	2.0	1.5	1200	$3,200	$2.67	24d	1	1.00mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$1,774	$1.81	2d	21	1.02mi
4500 E Bay Dr #138 Clearwater, FL	2.0	2.0	1050	$1,350	$1.29	24d	1	1.03mi
4500 E Bay Dr #149 Clearwater, FL	2.0	2.0	1050	$1,850	$1.76	24d	1	1.03mi
13635 Forest Lake Dr Largo, FL	2.0	1.5	1250	$1,990	$1.59	24d	1	1.03mi
2234 Rose Ln Clearwater, FL	2.0	2.0	1462	$2,400	$1.64	4d	1	1.04mi
960 Starkey Rd #10305 Largo, FL	2.0	2.0	1324	$2,200	$1.66	14d	1	1.04mi
7360 Ulmerton Rd Unit 3C Largo, FL	1.0	1.0	846	$1,599	$1.89	24d	1	1.05mi
7360 Ulmerton Rd Unit 3C Largo, FL	1.0	1.0	846	$1,498	$1.77	7d	1	1.05mi
7360 Ulmerton Rd Unit NA Largo, FL	2.0	2.0	1155	$2,050	$1.77	24d	1	1.05mi
305 Glades Cir Largo, FL	1.0–3.0	1.0–1.5	875	$1,563	$1.79	1d	34	1.06mi
1200 Country Club Dr #1502 Largo, FL	2.0	2.0	1320	$2,350	$1.78	3d	1	1.09mi
1200 Country Club Dr #3302 Largo, FL	2.0	2.0	1320	$2,200	$1.67	3d	1	1.09mi

HOA detail

• Monthly dues: $420 · $5,040/yr

Listing history 3 events

1. 2026-04-27
   status Pending
2. 2026-04-26
   listed $180,000 Active
3. 2004-04-06
   soldstatus $86,000

ⓘ 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: $490 · $41/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$1,004/yr (+$84/mo · 204.7%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $23,232
• − Mortgage interest: −$10,083
• − Property taxes: −$490
• − Insurance: −$900
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − HOA: −$5,040
• − Depreciation: −$5,236
• Taxable loss: −$2,235
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $1,132/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

• Census place: Largo, FL
• 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

+109.3% since first listed

3 events — show timeline

• 2026-04-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-26 Listed $180,000 Stellar MLS as Distributed by MLS Grid
• 2004-04-06 Sold (Public Records) $86,000 Public Records

Property tax history

-6.8%/yr

Latest (2025): $490 · +5.9% YoY. Source: county tax records.