410 Dolphin Dr S · Oldsmar, FL 34677

$175,000

2 bd · 2.0 ba · 1,266 sqft · Manufactured public records · 2 Days on market

Built 1987 6,765 sqft lot Est $185k · 5% under $70/mo HOA · 3% of rent

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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 +26.6/30.0
• ARV discount +9.9/15.0
• DSCR +9.1/10.0
• 1% rule +6.7/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bankowned. Wonderful retirement community with land ownership. Features clubhouse, heated pool and spa, pool table, card games, library and more. Open floor plan. This 2 bedroom / 2 Bathroom home has lots of potential. Close to shopping anddining and much more. Don't delay come see you're new home today. Lowest price in Gull Aire Village! Price to sell!

Key facts

• Minutes from beaches
• Own the land
• Affordable hoa fee

Tags

• OWN THE LAND
• AFFORDABLE HOA FEE
• ACTIVE SOCIAL CALENDAR
• WALKING DISTANCE TO SHOPPING
• NEARBY RESTAURANTS
• MINUTES FROM BEACHES

Property features AI

Finance

• Other: Property listed as a fixer (needs repairs)
• Financial info: Lease restrictions apply
• HOA & community: Gull Aire Village Association (monthly fee $70); HOA fee includes pool; Association approval required; Senior community; Pets allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured double-wide home; Attached property; One story; Faces southeast
• Construction: Vinyl siding; Shingle roof; Built on crawlspace
• Exterior features: Private mailbox; In-ground pool; Paved road access; Lot dimensions approximately 46 x 123

Interior

• Kitchen: Cooktop; Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combo
• Laundry & utility: Inside laundry; Washer; Dryer; Crawlspace foundation (utility access)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $42 ($505/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 9.5% vs local median 2.8% in Oldsmar — 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 83/100 on livability (#49 in FL, #908 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities D-.
• 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 (-2.6%/yr); 283 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $38k; list at $175k implies a 355% gain — meaningful room to come down on a strong offer.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.17% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $184,836
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Dolphin Dr N	0.11mi	2/2.0	1,150 (-9%)	2mo	$235,000	$204	78
8 Pelican Dr N	0.23mi	2/2.0	1,336 (+6%)	5mo	$195,000	$146	76
306 Snook Ct	0.20mi	2/2.0	1,384 (+9%)	2mo	$170,000	$123	74
369 Cobia Way	0.07mi	2/2.0	1,382 (+9%)	11mo	$160,000	$116	72
119 Dolphin Dr S	0.16mi	2/2.0	1,412 (+12%)	12mo	$250,000	$177	63
245 Pelican Dr N	0.16mi	2/2.0	1,104 (-13%)	10mo	$169,900	$154	63
84 Jacaranda Dr #15	0.69mi	2/2.0	1,180 (-7%)	1mo	$185,000	$157	56
48 Sugar Bear Dr #17	0.61mi	3/2.0 (+1)	1,300 (+3%)	14mo	$165,000	$127	50
38 Willow Creek Ct #5	0.63mi	2/2.0	1,120 (-12%)	1mo	$142,500	$127	50
43 New Fawn Ct #28	0.54mi	2/2.0	1,104 (-13%)	17mo	$179,000	$162	40
70 Live Oak Ct #21	0.73mi	2/2.0	1,100 (-13%)	8mo	$115,000	$105	38
133 Clubview Dr #137	0.58mi	3/2.0 (+1)	1,450 (+14%)	14mo	$180,000	$124	32

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: -18.9%
• Equity multiple: 0.36×
• Total profit: $-31,409
• Equity at exit: $26,093

10-year hold

• IRR: -22.4%
• Equity multiple: 0.06×
• Total profit: $-46,004
• Equity at exit: $15,131

Cash invested: $49,000 (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 34677

• Rents YoY: -2.6%
• Active inventory: 283
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$918
• Tax from tax record: −$85 /mo · $1,015/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$70
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $42

Break-even live

Break-even rent $1,990

Max offer price $175,000

Occupancy floor 93%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 Tarpon Ln Oldsmar, FL	2.0	2.0	1120	$2,400	$2.14	4d	1	0.11mi
116 Dolphin Dr S Oldsmar, FL	2.0	2.0	1090	$2,550	$2.34	12d	1	0.21mi
1 Pelican Dr N Oldsmar, FL	2.0	2.0	960	$2,000	$2.08	10d	1	0.22mi
211 Countryside Key Blvd Oldsmar, FL	2.0	2.5	1280	$1,899	$1.48	24d	1	0.29mi
2012 Dover Ct Oldsmar, FL	2.0	2.0	1143	$2,200	$1.92	24d	1	0.34mi
1924 Dover Ct Oldsmar, FL	3.0	2.0	1269	$2,315	$1.82	7d	1	0.42mi
1810 Driftwood Cir S Oldsmar, FL	2.0	2.0	1456	$2,700	$1.85	4d	1	0.69mi
108 Nina Way #3 Oldsmar, FL	2.0	2.0	1094	$1,695	$1.55	24d	1	0.71mi
161 Lakeside Dr Oldsmar, FL	2.0	2.0	1094	$2,000	$1.83	17d	1	0.72mi
3001 Landmark Blvd #101 Palm Harbor, FL	2.0	2.0	1353	$1,950	$1.44	24d	1	0.72mi
107 Windward Pl Unit 107 Oldsmar, FL	2.0	2.0	879	$2,000	$2.28	17d	1	0.78mi
114 Meadow Ln #114 Oldsmar, FL	2.0	2.0	879	$1,700	$1.93	24d	1	0.85mi
112 Woodlands Ct Unit 1 Oldsmar, FL	2.0	2.0	1196	$1,800	$1.51	24d	1	0.86mi
122 Caryl Way Bldg 1 Oldsmar, FL	2.0	2.0	1094	$1,850	$1.69	24d	1	0.88mi
218 Caryl Way Oldsmar, FL	2.0	2.0	1094	$1,740	$1.59	12d	1	0.88mi
109 Nancy Dr Oldsmar, FL	2.0	2.0	1094	$1,750	$1.60	16d	1	0.89mi
109 Nancy Dr Oldsmar, FL	2.0	2.0	1094	$1,750	$1.60	3d	1	0.89mi
3455 Countryside Blvd #4 Clearwater, FL	3.0	2.0	995	$2,050	$2.06	4d	1	0.95mi
284 Woodlake Wynde Oldsmar, FL	2.0	2.0	924	$2,000	$2.16	24d	1	1.03mi
336 Woodlake Wynde Oldsmar, FL	2.0	2.0	924	$2,000	$2.16	17d	1	1.03mi
103 Palmetto Ct #103 Oldsmar, FL	2.0	2.0	1054	$1,800	$1.71	24d	1	1.05mi
207 Palmetto Ct Oldsmar, FL	2.0	2.0	1054	$1,700	$1.61	24d	1	1.05mi
109 Pine Ct Oldsmar, FL	2.0	2.0	1054	$2,300	$2.18	24d	1	1.05mi
3460 Countryside Blvd #60 Clearwater, FL	2.0	2.5	1349	$2,500	$1.85	7d	1	1.07mi
3590 Magnolia Ridge Cir Unit G Palm Harbor, FL	2.0	2.0	1090	$1,695	$1.56	24d	1	1.08mi
207 Woodlake Wynde Unit 207 Oldsmar, FL	2.0	2.0	924	$2,100	$2.27	24d	1	1.09mi
132 E Cypress Ct Oldsmar, FL	2.0	2.0	1054	$1,800	$1.71	20d	1	1.10mi
274 Cypress Ln Oldsmar, FL	2.0	2.0	1054	$1,600	$1.52	24d	1	1.11mi
135 W Cypress Ct Oldsmar, FL	2.0	2.0	1054	$2,100	$1.99	24d	1	1.11mi
3640 Meriden Ave Unit 3 Oldsmar, FL	2.0	1.0	980	$1,575	$1.61	12d	1	1.12mi
3583 Whispering Oaks Ln Palm Harbor, FL	2.0	2.5	1124	$1,800	$1.60	24d	1	1.13mi
244 Cypress Ln Unit 244 Oldsmar, FL	2.0	2.0	1053	$2,000	$1.90	24d	1	1.13mi
212 Cypress Ln Oldsmar, FL	2.0	2.0	1053	$1,600	$1.52	7d	1	1.13mi
2998 Bonaventure Cir #104 Palm Harbor, FL	2.0	2.0	900	$1,828	$2.03	4d	1	1.14mi
3664 Meriden Ave Unit A Oldsmar, FL	2.0	2.0	970	$1,795	$1.85	24d	1	1.16mi
3028 Bonaventure Cir #103 Palm Harbor, FL	2.0	2.0	900	$1,500	$1.67	24d	1	1.16mi
2897 Thaxton Dr #65 Palm Harbor, FL	2.0	2.5	1390	$2,280	$1.64	4d	1	1.20mi
2879 Thaxton Dr #55 Palm Harbor, FL	2.0	2.5	1396	$2,200	$1.58	4d	1	1.21mi
3149 Huron Ave Oldsmar, FL	2.0	2.0	1150	$1,595	$1.39	17d	1	1.23mi
2843 Thaxton Dr #38 Palm Harbor, FL	2.0	2.5	1406	$2,000	$1.42	4d	1	1.23mi

HOA detail

• Monthly dues: $70 · $840/yr
• Likely covers: pool

Listing history 3 events

1. 2026-06-18
   days on market $175,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $175,000 Active 1 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: $1,015 · $85/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$438/yr (+$36/mo · 43.2%)

ⓘ 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 7 d/yr ≥107°F today · 25 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: $24,514
• − Mortgage interest: −$9,803
• − Property taxes: −$1,015
• − Insurance: −$5,994
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − HOA: −$840
• − Depreciation: −$5,091
• Taxable loss: −$2,150
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $1,021/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 — Oldsmar

• Score: 83/100
• State rank: #49
• US rank: #908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oldsmar, FL
• County: Pinellas County · 939,478 people
• City population: 22,762
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 22,762
• Household income: $93,474
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 548.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 11% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -215.17%
• Current HPI: 296.7786
• Rent YoY: ▼ -2.58%
• 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

+1844.4% since first listed

7 events — show timeline

• 2026-06-16 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2010-12-31 Sold (MLS) $38,500 Stellar MLS as Distributed by MLS Grid
• 2010-08-05 Listed $34,500 Stellar MLS as Distributed by MLS Grid
• 2006-05-16 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 1994-12-28 Sold (Public Records) $51,000 Public Records
• 1991-12-05 Sold (Public Records) $41,500 Public Records
• 1984-11-01 Sold (Public Records) $9,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,015 · +2.6% YoY. Source: county tax records.