11132 Pembridge Ct #6 · Bayonet Point, FL 34668

$74,500

1 bd · 1.0 ba · 714 sqft · Condo public records · 50 Days on market

Built 1975 $510/mo HOA · 36% 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 +10.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Furnished Condo in Beautiful over 55 Comm. Covered Parking . .Eat in kitchen, Large walk in in closet . Screened patio . outside storage. Large Bedrm. Pool, Active Club House . Great Central Location. .Monthly Maint. includes water trash basic cable outside Bld. and lawn. .. Fast Close Best Price Condo in Timber Oaks

Key facts

• Screened patio
• Community amenities
• End unit

Tags

• WALKING TRAILS
• SCREENED PATIO
• COVERED CARPORT PARKING
• COMMUNITY AMENITIES
• END UNIT

Property features AI

Finance

• Other: Association management: Resource Property Management / Jack Smith
• Financial info: Total annual association fees $6,120 (total monthly $510); Lease restrictions apply
• HOA & community: HOA required; monthly association fee $55; Monthly condo fee $455; Association amenities include cable TV, clubhouse, fitness center, laundry, pool, recreation facilities, shuffleboard, tennis courts; Association fee includes cable TV, common area taxes, pool, escrow reserves, structure and grounds maintenance, management, sewer, trash and water; Association approval required; Senior community; no pets allowed; Community features: deed restrictions, sidewalks, golf carts OK

Exterior

• Parking: Covered guest parking; 1-car carport
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected
• Home design: Residential condominium; Attached property; One story; Faces north; Completed condition; Located on floor 1
• Construction: Block, concrete and stucco construction; Built-up roof; Block foundation; Built in (year not provided)
• Exterior features: Covered, enclosed and screened rear porch; Exterior lighting; Exterior storage; Heated spa

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom (floor 1)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Thermostat; Blinds
• Laundry & utility: No dedicated laundry (listed as None/Other)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $74k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $72k (3.0% 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+, commute 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.
• Zoned schools: Gulf Highlands Elementary School (math 29% / reading 32%, grade F, #1,862 of 2,144 statewide, top 88%, 714 students, 89% FRL); Fivay High School (math 20% / reading 28%, grade F, #529 of 667 statewide, top 80%, 1,610 students, 78% FRL) — zoned schools average 84% FRL vs 48% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 51% district-wide (-24 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 577 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $515 of loan paydown is wiped out by about $2k 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 50 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.
• Current owner paid $35k; list at $74k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,265 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.88% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-4,642
• Equity at exit: $11,108

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-37
• Equity at exit: $6,441

Cash invested: $20,860 (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 34668

• Home prices YoY: -17.4%
• Rents YoY: 1.3%
• Active inventory: 577
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$391
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$31
• HOA: −$510
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $149

Break-even live

Break-even rent $1,210

Max offer price $74,500

Occupancy floor 84%

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7213 Seward Dr Port Richey, FL	2.0	1.0	700	$1,500	$2.14	24d	1	0.94mi
7110 Tudor Ln Port Richey, FL	1.0	1.0	676	$1,310	$1.94	2d	1	1.17mi
7110 Tudor Ln Port Richey, FL	1.0	1.0	676	$1,310	$1.94	24d	1	1.17mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,089	$1.43	1d	59	1.21mi
8422 Paxton Dr Port Richey, FL	2.0	1.0	744	$1,800	$2.42	24d	1	1.32mi
9440 Bourbon St Unit 9 New Port Richey, FL	2.0	1.0	700	$1,275	$1.82	24d	1	1.36mi

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: watertrashcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $74,500 Active 50 DOM
2. 2026-06-17
   days on market $74,500 Active 49 DOM
3. 2026-06-16
   days on market $74,500 Active 48 DOM
4. 2026-06-15
   days on market $74,500 Active 47 DOM
5. 2026-06-13
   days on market $74,500 Active 45 DOM
6. 2026-06-09
   days on market $74,500 Active 41 DOM
7. 2026-06-08
   days on market $74,500 Active 40 DOM
8. 2026-06-07
   days on market $74,500 Active 39 DOM
9. 2026-06-04
   days on market $74,500 Active 36 DOM
10. 2026-06-03
    days on market $74,500 Active 35 DOM
11. 2026-06-02
    days on market $74,500 Active 34 DOM
12. 2026-06-01
    days on market $74,500 Active 33 DOM
13. 2026-05-31
    days on market $74,500 Active 32 DOM
14. 2026-04-29
    listed $74,500 Active
15. 2017-06-28
    soldstatus $34,900
16. 2017-06-27
    soldstatus $34,900 Sold 318-char remark

    Show marketing remark (318 chars)

    Furnished Condo in Beautiful over 55 Comm. Covered Parking . .Eat in kitchen, Large walk in in closet . Screened patio . outside storage. Large Bedrm. Pool, Active Club House . Great Central Location. .Monthly Maint. includes water trash basic cable outside Bld. and lawn. .. Fast Close Best Price Condo in Timber Oaks

17. 2017-06-13
    status Pending 318-char remark

    Show marketing remark (318 chars)

    Furnished Condo in Beautiful over 55 Comm. Covered Parking . .Eat in kitchen, Large walk in in closet . Screened patio . outside storage. Large Bedrm. Pool, Active Club House . Great Central Location. .Monthly Maint. includes water trash basic cable outside Bld. and lawn. .. Fast Close Best Price Condo in Timber Oaks

18. 2017-05-16
    listed $34,900 Active 318-char remark

    Show marketing remark (318 chars)

    Furnished Condo in Beautiful over 55 Comm. Covered Parking . .Eat in kitchen, Large walk in in closet . Screened patio . outside storage. Large Bedrm. Pool, Active Club House . Great Central Location. .Monthly Maint. includes water trash basic cable outside Bld. and lawn. .. Fast Close Best Price Condo in Timber Oaks

19. 2005-07-05
    soldstatus $40,000

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $618 · $52/mo
• Expected delta: +$324/yr (+$27/mo · 109.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 25 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: $16,796
• − Mortgage interest: −$4,173
• − Property taxes: −$295
• − Insurance: −$372
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − HOA: −$6,120
• − Depreciation: −$2,167
• Taxable income: $981
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $1,558/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): 49,442
• Household income: $47,401
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 2699.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 23% Two or more races 14% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Cuban 5% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 14% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -75.64%
• Current HPI: 359.7163
• Rent YoY: ▲ 1.28%
• 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

+86.2% since first listed

6 events — show timeline

• 2026-04-29 Listed $74,500 Stellar MLS as Distributed by MLS Grid
• 2017-06-28 Sold (Public Records) $34,900 Public Records
• 2017-06-27 Sold (MLS) $34,900 Stellar MLS as Distributed by MLS Grid
• 2017-06-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-05-16 Listed $34,900 Stellar MLS as Distributed by MLS Grid
• 2005-07-05 Sold (Public Records) $40,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $295 · +1.9% YoY. Source: county tax records.