13988 Lake Point Dr · Feather Sound, FL 33762

$486,000

3 bd · 2.5 ba · 2,030 sqft · Townhouse public records · 5 Days on market

Built 1978 3,672 sqft lot Est $726k · 33% under · waterfront $325/mo HOA · 8% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One or more photo(s) has been virtually staged. Be sure to review the clean 4pt Inspection that was completed by Young Home Inspections. This home is ready for its new owners as it is completely move-in ready. This stunning 3-bedroom, 2.5-bathroom end unit townhome is nestled within the highly desirable Feather Sound golf course community. Located in a prime location, the view of the golf course and water is serene, relaxing and everything you could ask for! This well maintained split-level home offers high ceilings, large windows and sliding glass doors. Enjoy the ducks and other migrating birds from your screened in patio. This home boasts new 2022 impact windows, 2022 new a/c, 2023 new pavers, 2022 electrical panel, bathrooms, closet shelving, fresh paint and more! You can also opt to return the half bathroom back to make this a 3 full bathroom home. Laundry is in the garage, with laundry hookups also available on the top floor. Conveniently located in mid-Pinellas just 3.5 miles from 275 between Tampa and St. Petersburg. Enjoy the beaches (6.3mi), Entertainment like Top Golf (1.2mi), dining (1.4mi), shopping (1.4mi), and airports(2.7 mi). Don't miss out! Room Feature: Linen Closet In Bath (Primary Bedroom).

Key facts

• Screened patio
• Spacious great room
• Golf course views

Tags

• GOLF COURSE VIEWS
• SCREENED PATIO
• SPLIT-LEVEL LAYOUT
• SPACIOUS GREAT ROOM
• DINING AREA WITH BUILT-INS
• KITCHEN WITH GRANITE COUNTERS

Property features AI

Finance

• Other: Total monthly fees $325; total annual fees $3,900
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA $325 (includes escrow reserves, structure maintenance, grounds maintenance, pest control); Association approval required; Community mailbox; Sidewalks; Pets allowed with breed restrictions

Exterior

• Parking: Attached garage; Oversized garage with garage door opener; 2 garage spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; BB/HS internet available; Phone available; Underground utilities; Fire hydrant; Sewer available and connected; Water available
• Home design: Residential townhouse; Attached property; Three or more levels; Southeast facing; Completed condition
• Construction: Block and frame construction; Shingle roof; Slab foundation
• Exterior features: Covered patio/porch; Deck; Enclosed porch; Screened porch; Awning(s); Rain gutters; Sidewalk; Sliding doors; Mature landscaping; Cul-de-sac lot; Flood zone (flood insurance required); In county; Paved; Asphalt road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Window treatments; Formal living room separate; Great room; Inside utility; Smoke detector(s)
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $486k.

Deal economics

• At list price, monthly cash flow is $-811 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (29.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (13.5% below list).
• Recommended offer: $343k (29.5% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 1.8% in Feather Sound — 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 75/100 on livability (#259 in FL, #4,144 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, commute B+; Watch: cost of living D, amenities F, health & safety 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: High Point Elementary School (math 54% / reading 48%, grade C-, #1,043 of 2,144 statewide, top 49%, 609 students, 80% FRL); Fitzgerald Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,033 students, 62% FRL); Pinellas Park High School (math 28% / reading 35%, grade F, #424 of 667 statewide, top 64%, 1,919 students, 57% FRL) — zoned schools average 66% FRL vs 48% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 102 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $4,202/mo this rent would consume 58% of the median local household income ($87k/yr) (locally 105% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,797 (29.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 0.86% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $726,232
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13636 Lake Point Dr S	0.23mi	2/2.0 (-1)	1,875 (-8%)	7mo	$360,000	$192	63
13742 Eagles Walk Dr	0.40mi	4/2.5 (+1)	2,022 (-0%)	16mo	$535,000	$265	62
13754 Marseilles Ct	0.17mi	3/2.5	1,725 (-15%)	21mo	$475,000	$275	50

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: -33.0%
• Equity multiple: -0.04×
• Total profit: $-142,160
• Equity at exit: $72,464

10-year hold

• IRR: -69.2%
• Equity multiple: -0.73×
• Total profit: $-235,680
• Equity at exit: $42,020

Cash invested: $136,080 (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 33762

• Rents YoY: -1.1%
• Active inventory: 102
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,202 high
• Mortgage (P&I): −$2,549
• Tax from tax record: −$628 /mo · $7,532/yr
• Insurance: −$202
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$325
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $-811

Break-even live

Break-even rent $5,228

Max offer price $342,797

Occupancy floor —

Sensitivity live

Price	-10% $-536	-5% $-673	+0% $-811	+5% $-948	+10% $-1,086
Rent	-10% $-1,143	-5% $-977	+0% $-811	+5% $-645	+10% $-479
Rate	-1.0pp $-566	-0.5pp $-687	base $-811	+0.5pp $-937	+1.0pp $-1,065

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: $121,500
• Closing costs: $14,580
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2823 Heron Pl Clearwater, FL	3.0	2.0	2786	$4,250	$1.53	0d	1	0.32mi
104 Main St N St. Petersburg, FL	2.0	2.0	1570	$5,546	$3.53	0d	1	0.58mi
14463 Sandpiper Cir Clearwater, FL	3.0	2.5	2250	$4,100	$1.82	0d	1	0.60mi
101 Main St N St. Petersburg, FL	1.0–3.0	1.0–2.0	1494	$7,813	$5.23	18d	70	0.61mi
221 Main St N Saint Petersburg, FL	1.0–3.0	1.0–3.0	1483	$8,328	$5.62	5d	20	0.65mi
430 Gilman Pl N Saint Petersburg, FL	3.0	3.5	2397	$6,500	$2.71	26d	1	0.84mi
602 Saxony Blvd Saint Petersburg, FL	3.0	3.5	2982	$4,500	$1.51	21d	1	1.07mi
500 Trinity Ln N Saint Petersburg, FL	3.0	1.0–2.0	1103	$3,258	$2.95	0d	26	1.24mi
11850 Dr Martin Luther King Jr St N Saint Petersburg, FL	1.0–3.0	1.0–2.0	1118	$2,609	$2.33	3d	63	1.49mi

HOA detail

• Monthly dues: $325 · $3,900/yr
• Likely covers: waterelectric

Listing history 5 events

1. 2026-06-13
   statusdays on market $486,000 Pending 5 DOM
2. 2026-06-09
   days on market $486,000 Active 4 DOM
3. 2026-06-08
   days on market $486,000 Active 3 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $486,000 Active 2 DOM

ⓘ 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: $7,532 · $628/mo
• Projected year-2 tax: $7,532 · $628/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $50,426
• − Mortgage interest: −$27,224
• − Property taxes: −$7,532
• − Insurance: −$7,549
• − Repairs & maintenance: −$4,034
• − Management: −$4,034
• − HOA: −$3,900
• − Depreciation: −$14,138
• Taxable loss: −$17,985
• Est. tax savings @ 24.0%: +$4,316
• After-tax cash flow: $-5,411/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 — Feather Sound

• Score: 75/100
• State rank: #259
• US rank: #4144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Feather Sound, FL
• County: Pinellas County · 939,478 people
• City population: 5,039
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 5,063
• Household income: $87,461
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 105.0

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 (76%)
• Race & ethnicity: White 76% Two or more races 11% Hispanic / Latino 10% Asian 5% Black 5%
• Hispanic origin (detail): Puerto Rican 1% Cuban 2%
• Common ancestry: Italian 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 83% English-only · Other Indo-European 6% Spanish 6% French/Haitian/Cajun 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: ▼ -212.83%
• Current HPI: 264.2599
• Rent YoY: ▼ -1.11%
• 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

+386.0% since first listed

15 events — show timeline

• 2026-06-05 Listed $486,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-02 Sold (Public Records) $475,000 Public Records
• 2023-12-29 Sold (MLS) $475,000 Stellar MLS as Distributed by MLS Grid
• 2023-11-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-11-02 Price Changed $475,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-20 Price Changed $485,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-10-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-10-04 Price Changed $495,000 Stellar MLS as Distributed by MLS Grid
• 2023-09-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-09-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-07-19 Listed $500,000 Stellar MLS as Distributed by MLS Grid
• 2002-10-03 Sold (Public Records) $232,900 Public Records
• 1986-03-01 Sold (Public Records) $94,500 Public Records
• 1985-11-01 Sold (Public Records) $100,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $7,532 · -1.2% YoY. Source: county tax records.