515 Tabor Ct Unit C · Safety Harbor, FL 34695

$199,900

2 bd · 2.0 ba · 1,060 sqft · Condo public records · 1 Days on market

Built 1982

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Why this score? — see what drove the F 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 +7.5/15.0
• 1% rule +5.8/10.0
• Cash flow +5.1/30.0
• Livability +4.4/5.0
• Rent growth +4.3/5.0
• Schools +4.3/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2-bedroom, 2-bath condo located in the highly desirable community of Safety Harbor. This well-maintained second-floor unit offers approximately 1,060 sq ft of comfortable living space with a functional split-bedroom floor plan, ideal for privacy and flexibility. The home features a bright and open layout with a spacious living and dining area, an updated kitchen, and an indoor utility room for added convenience. The primary suite includes a walk-in closet and en-suite bath, while the secondary bedroom is perfect for guests or a home office. Enjoy peaceful outdoor living from your private balcony overlooking mature landscaping. Additional highlights include assigned

Key facts

• Private balcony
• Community amenities
• Scenic walking paths

Tags

• PRIVATE BALCONY
• UPDATED KITCHEN
• ASSIGNED COVERED PARKING
• PRIVATE STORAGE CLOSET
• COMMUNITY AMENITIES
• SCENIC WALKING PATHS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-463 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 3.5% vs local median 2.7% in Safety Harbor — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 87/100 on livability (#8 in FL, #296 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: 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 fast (+7.3%/yr); 170 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $6k 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.
• 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 $78k; list at $200k implies a 156% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

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. 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 3.51%
• Cash-on-cash: -9.93%
• DSCR: 0.56
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.34% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.08×
• Total profit: $-51,489
• Equity at exit: $29,806

10-year hold

• IRR: -8.0%
• Equity multiple: 0.35×
• Total profit: $-36,385
• Equity at exit: $17,284

Cash invested: $55,972 (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 34695

• Home prices YoY: -30.2%
• Rents YoY: 7.3%
• Active inventory: 170
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$262 /mo · $3,139/yr
• Insurance: −$83
• HOA est. from 1 same-building comp: −$781
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-463

Break-even live

Break-even rent $2,752

Max offer price $118,111

Occupancy floor —

Sensitivity live

Price	-10% $-350	-5% $-406	+0% $-463	+5% $-520	+10% $-576
Rent	-10% $-634	-5% $-549	+0% $-463	+5% $-377	+10% $-292
Rate	-1.0pp $-362	-0.5pp $-412	base $-463	+0.5pp $-515	+1.0pp $-567

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Summerhill Ct Unit A Safety Harbor, FL	2.0	2.0	1060	$2,450	$2.31	25d	1	0.04mi
115 Coral Dr Safety Harbor, FL	3.0	2.0	1241	$3,000	$2.42	5d	1	0.40mi
2035 Philippe Pkwy Safety Harbor, FL	1.0–2.0	1.0–2.0	718	$1,920	$2.67	4d	11	0.46mi
300 Kent Pl Safety Harbor, FL	2.0	1.0	939	$1,795	$1.91	21d	1	0.69mi
313 Bay Pl Safety Harbor, FL	2.0	1.0	939	$1,695	$1.81	12d	1	0.75mi
310 7th St N Unit A Safety Harbor, FL	2.0	2.0	1250	$2,250	$1.80	25d	1	0.77mi
625 4th Ave N Safety Harbor, FL	2.0	1.0	786	$2,000	$2.54	25d	1	0.78mi
1135 Dover Ct Safety Harbor, FL	2.0	2.0	1013	$2,290	$2.26	15d	1	0.78mi
1155 Thayer St Safety Harbor, FL	2.0	2.0	1013	$2,050	$2.02	17d	1	0.80mi
285 Rogers Ct Safety Harbor, FL	2.0	2.0	1013	$1,795	$1.77	25d	1	0.81mi
1135 7th St N Safety Harbor, FL	3.0	1.0	1125	$2,195	$1.95	15d	1	0.84mi
1066 Philippe Pkwy Unit 2 Safety Harbor, FL	2.0	1.0	700	$1,595	$2.28	25d	1	0.85mi
3062 Eastland Blvd Unit D11 Clearwater, FL	1.0	1.0	920	$1,695	$1.84	25d	1	1.18mi
3062 Eastland Blvd #202 Clearwater, FL	2.0	2.0	1250	$2,300	$1.84	25d	1	1.19mi
337 McMullen Booth Rd Clearwater, FL	2.0	1.0	1087	$1,800	$1.66	8d	1	1.23mi
3034 Eastland Blvd Clearwater, FL	1.0	1.0	720	$1,500	$2.08	25d	1	1.27mi
3048 Eastland Blvd Unit C105 Clearwater, FL	1.0	1.0	750	$1,525	$2.03	25d	1	1.27mi
3042 Eastland Blvd Unit H110 Clearwater, FL	2.0	2.0	1030	$1,700	$1.65	25d	1	1.27mi
247 Short St Safety Harbor, FL	2.0	1.0	808	$1,900	$2.35	5d	1	1.29mi
3038 Eastland Blvd Unit F101 Clearwater, FL	2.0	2.0	1030	$1,775	$1.72	5d	1	1.30mi
2652 N McMullen Booth Rd Clearwater, FL	1.0–3.0	1.0–2.0	1037	$1,698	$1.64	2d	15	1.31mi
380 3rd St S Unit 4A Safety Harbor, FL	2.0	1.0	700	$2,395	$3.42	19d	1	1.32mi
2941 Shore Dr Safety Harbor, FL	2.0	1.0	1055	$1,825	$1.73	5d	1	1.42mi
500 9th Ave S Apt C1 Safety Harbor, FL	3.0	2.0	1182	$2,195	$1.86	25d	1	1.42mi
500 9th Ave S Apt B3 Safety Harbor, FL	2.0	2.0	893	$1,795	$2.01	25d	1	1.42mi
2955 Bay View Dr Safety Harbor, FL	2.0	1.0	1047	$2,150	$2.05	25d	1	1.45mi
1275 Wooddell Dr Safety Harbor, FL	2.0	2.0	1223	$3,700	$3.03	5d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-20
   status Pending
2. 2026-04-20
   listed $199,900 Active
3. 2026-04-06
   status Pending
4. 2026-04-01
   historical
5. 2026-03-25
   listed $199,900 Active
6. 2018-05-29
   soldstatus $78,000
7. 1987-09-30
   soldstatus $59,900
8. 1983-08-01
   soldstatus $56,600

ⓘ 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: $3,139 · $262/mo
• Projected year-2 tax: $3,139 · $262/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 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 · 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: $25,993
• − Mortgage interest: −$11,198
• − Property taxes: −$3,139
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − HOA: −$9,372
• − Depreciation: −$5,815
• Taxable loss: −$8,689
• Est. tax savings @ 24.0%: +$2,085
• After-tax cash flow: $-3,470/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 — Safety Harbor

• Score: 87/100
• State rank: #8
• US rank: #296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Safety Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 18,098
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 18,098
• Household income: $95,238
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 103.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Black 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -144.72%
• Current HPI: 335.0437
• Rent YoY: ▲ 7.34%
• 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

+253.2% since first listed

8 events — show timeline

• 2026-04-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2018-05-29 Sold (Public Records) $78,000 Public Records
• 1987-09-30 Sold (Public Records) $59,900 Public Records
• 1983-08-01 Sold (Public Records) $56,600 Public Records

Property tax history

+10.4%/yr

Latest (2025): $3,139 · +2.0% YoY. Source: county tax records.