2131 Ridge Rd S #74 · Largo, FL 33778

$168,000

2 bd · 2.0 ba · 930 sqft · Condo public records · 52 Days on market

Built 1984 $467/mo HOA · 24% 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 +16.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Welcome to this popular pet-friendly 2-bedroom, 2-bath villa located in the desirable Coastal Ridge community. This home offers a great combination of recent updates and opportunity to add your personal touch. Recent updates include: Refrigerator & dishwasher (2022) Washer & dryer (2024), New laminate flooring, Beautifully remodeled primary (master) bathroom The home features a bright kitchen with a breakfast nook, an enclosed back porch perfect for relaxing, and a spacious primary suite with a walk-in closet and ample storage. Community Highlights: Low affordable HOA, Community pool and tennis courts Pet-friendly environment with max

Key facts

• Bright kitchen
• Enclosed back porch
• Recent updates

Tags

• RECENT UPDATES
• REMODELED PRIMARY BATHROOM
• BRIGHT KITCHEN
• ENCLOSED BACK PORCH
• WALK IN CLOSET
• COMMUNITY POOL

Property features AI

Finance

• Other: Lease restrictions apply; Homestead exempt; Total acreage: less than 1/4 acre
• Financial info:
• HOA & community: Ameritech Community Management HOA; Monthly HOA fee of $467 (includes pool, escrow reserves, maintenance of structure, sewer, trash, water); Association approval required; Community amenities: Pool, tennis courts; Pets allowed: Cats and dogs

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential villa; One story; Faces west; Entry level: One
• Construction: Block, stucco and frame construction; Shingle roof; Slab foundation; Built with a total living area of 930 square feet
• Exterior features: Sidewalk

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Split bedroom floor plan
• Laundry & utility: Laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $168k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 rising (+1.4%/yr); 139 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/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

• It's been on market 52 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $50k; list at $168k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.18% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.38% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.51×
• Total profit: $-23,254
• Equity at exit: $25,049

10-year hold

• IRR: -8.6%
• Equity multiple: 0.51×
• Total profit: $-23,090
• Equity at exit: $14,526

Cash invested: $47,040 (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 33778

• Rents YoY: 1.4%
• Active inventory: 139
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,984 high
• Mortgage (P&I): −$881
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$70
• HOA: −$467
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $109

Break-even live

Break-even rent $1,846

Max offer price $168,000

Occupancy floor 90%

Sensitivity live

Price	-10% $204	-5% $156	+0% $109	+5% $61	+10% $14
Rent	-10% $-48	-5% $31	+0% $109	+5% $187	+10% $266
Rate	-1.0pp $194	-0.5pp $152	base $109	+0.5pp $65	+1.0pp $21

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	24d	1	0.04mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	3d	23	0.12mi
775 Royal Palm Cir Largo, FL	2.0	2.0	1008	$1,700	$1.69	4d	1	0.12mi
253 Sago Palm St Largo, FL	2.0	2.0	1000	$1,295	$1.29	24d	1	0.27mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	8d	1	0.44mi
1201 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1067	$1,870	$1.75	2d	1	0.58mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	4d	1	0.72mi
910 9th Ave SW Largo, FL	3.0	2.0	1120	$2,100	$1.88	4d	1	0.87mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	8d	1	0.88mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	24d	1	0.88mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	24d	1	0.91mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	24d	1	0.92mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	8d	1	0.93mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	5d	2	0.95mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	2d	189	1.04mi
1517 16th Cir SE Largo, FL	1.0	1.0	625	$1,250	$2.00	4d	1	1.08mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	24d	1	1.10mi
157 2nd Ave SW Unit A Largo, FL	2.0	1.0	678	$1,600	$2.36	24d	1	1.13mi
911 Washington Ave #212 Largo, FL	2.0	2.0	885	$1,675	$1.89	5d	1	1.19mi
2272 16th Ave SW Unit C Largo, FL	2.0	1.0	1031	$2,600	$2.52	24d	1	1.23mi
1741 Trotter Rd Unit A Largo, FL	2.0	1.0	800	$1,350	$1.69	24d	1	1.27mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	3d	1	1.41mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	24d	2	1.43mi
417 Woodrow Ave Largo, FL	1.0	1.0	650	$1,175	$1.81	18d	1	1.45mi
264 Ridge Rd N Largo, FL	3.0	1.5	981	$2,400	$2.45	24d	1	1.47mi

HOA detail condo

• Monthly dues: $467 · $5,604/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-13
   statusdays on market $168,000 Pending 52 DOM
2. 2026-06-09
   days on market $168,000 Active 51 DOM
3. 2026-06-08
   days on market $168,000 Active 50 DOM
4. 2026-06-07
   days on market $168,000 Active 49 DOM
5. 2026-06-04
   days on market $168,000 Active 46 DOM
6. 2026-06-03
   days on market $168,000 Active 45 DOM
7. 2026-06-01
   days on market $168,000 Active 43 DOM
8. 2026-05-31
   days on market $168,000 Active 42 DOM
9. 2026-05-07
   status Active
10. 2026-05-02
    status Pending
11. 2026-04-14
    listed $168,000 Active
12. 1987-03-19
    soldstatus $49,900
13. 1984-11-01
    soldstatus $47,900

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$913/yr (+$76/mo · 189.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,803
• − Mortgage interest: −$9,411
• − Property taxes: −$481
• − Insurance: −$840
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − HOA: −$5,604
• − Depreciation: −$4,887
• Taxable loss: −$1,228
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $1,602/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): 16,807
• Household income: $65,355
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 261.0

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 9% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 6%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 10% Vietnamese 1% 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: ▼ -320.64%
• Current HPI: 369.3008
• Rent YoY: ▲ 1.38%
• 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

+250.7% since first listed

5 events — show timeline

• 2026-05-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Listed $168,000 Stellar MLS as Distributed by MLS Grid
• 1987-03-19 Sold (Public Records) $49,900 Public Records
• 1984-11-01 Sold (Public Records) $47,900 Public Records

Property tax history

-4.2%/yr

Latest (2025): $481 · +5.3% YoY. Source: county tax records.