4851 W Gandy Blvd Unit B11L35 · Tampa, FL 33611

$134,900

1 bd · 1.0 ba · 760 sqft · Condo public records · 647 Days on market

Built 1967 $316/mo HOA · 16% 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 +25.8/30.0
• 1% rule +9.3/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACE, SPACE AND MORE SPACE!! This spacious unit is located in Lovely Regency Cove, a Resident Owned Community located right in South Tampa and right on Tampa Bay! Daytime and night-time community activities, community room, Shuffleboard, Pool and Spa, Fitness Room, gated community with water access and boat launch, lovely sunrise walks and sunset strolls await you! This unit stands out from the crowd with LARGE LARGE master bedroom featuring an en suite half bath and inside washer and dryer. LOTS of storage. LOTS of Living Space. Just LOTS of what you need to feel comfortable in your new home. Beautiful Sunsets are waiting for you!

Key facts

• Large master bedroom
• Boat launch
• Water access

Tags

• RESIDENT OWNED COMMUNITY
• WATER ACCESS
• BOAT LAUNCH
• LARGE MASTER BEDROOM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (12.9% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $117k (12.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 423 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 647 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $34k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,456 (12.9% 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. It's been on market 647 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.43% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -25.9%
• Equity multiple: 0.15×
• Total profit: $-32,078
• Equity at exit: $20,114

10-year hold

• IRR: -44.9%
• Equity multiple: -0.36×
• Total profit: $-51,359
• Equity at exit: $11,664

Cash invested: $37,772 (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 33611

• Rents YoY: 0.7%
• Active inventory: 423
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,929 high
• Mortgage (P&I): −$707
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$316
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-99

Break-even live

Break-even rent $2,054

Max offer price $117,456

Occupancy floor —

Sensitivity live

Price	-10% $-22	-5% $-61	+0% $-99	+5% $-137	+10% $-175
Rent	-10% $-251	-5% $-175	+0% $-99	+5% $-23	+10% $54
Rate	-1.0pp $-31	-0.5pp $-64	base $-99	+0.5pp $-134	+1.0pp $-169

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Culbreath Key Way Tampa, FL	1.0–2.0	1.0–2.0	847	$1,650	$1.95	4d	3	0.16mi
4851 W Gandy Blvd Unit B3L15 Tampa, FL	1.0	1.0	570	$1,200	$2.11	0d	1	0.19mi
4800 S West Shore Blvd Tampa, FL	1.0–2.0	1.0–2.0	801	$1,567	$1.96	0d	18	0.30mi
4922 W Gandy Blvd #102 Tampa, FL	1.0	1.0	595	$1,450	$2.44	13d	1	0.31mi
5001 Bridge St Tampa, FL	2.0	1.0–2.0	913	$2,665	$2.92	0d	9	0.51mi
4003 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	690	$1,688	$2.44	0d	304	0.62mi
5350 Bridge St Tampa, FL	1.0–3.0	1.0–2.0	1092	$2,289	$2.10	2d	12	0.66mi
5127 W Tyson Ave Tampa, FL	3.0	1.0–2.5	1078	$3,300	$3.06	0d	28	0.67mi
5301 W Tyson Ave Tampa, FL	1.0–3.0	1.0–2.0	1176	$2,860	$2.43	0d	189	0.71mi
5320 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	865	$2,340	$2.71	0d	20	0.73mi
5215 W Tyson Ave Tampa, FL	2.0	2.0	1087	$3,570	$3.28	0d	1	0.76mi
4315 Aegean Dr Unit 102C Tampa, FL	2.0	1.0	1000	$1,849	$1.85	23d	1	0.82mi
4521 W La Villa Ln Tampa, FL	2.0	1.5	1044	$1,875	$1.80	25d	1	0.87mi
4304 La Riviera Ct Tampa, FL	2.0	1.5	1044	$3,275	$3.14	25d	1	0.87mi
4233 La Sorrento Ct Tampa, FL	2.0	1.5	1044	$2,200	$2.11	4d	1	0.90mi
4220 La Dega Ct Unit 1 Tampa, FL	2.0	1.5	1044	$1,899	$1.82	25d	1	0.91mi
4220 La Dega Ct Tampa, FL	2.0	2.0	1044	$1,899	$1.82	25d	1	0.91mi
5110 S Manhattan Ave Tampa, FL	1.0–3.0	1.0–2.0	997	$1,895	$1.90	0d	23	0.96mi
5432 W Tyson Ave Tampa, FL	2.0	1.0–2.0	866	$2,868	$3.31	0d	49	0.97mi
4002 S Manhattan Ave Tampa, FL	1.0	1.0	650	$1,549	$2.38	0d	3	0.99mi
5608 S Manhattan Ave Unit A Tampa, FL	2.0	1.0	800	$500	$0.62	19d	1	1.14mi
6207 S West Shore Blvd Tampa, FL	3.0	1.0–2.0	1076	$3,027	$2.81	0d	39	1.25mi
5145 S Dale Mabry Hwy Tampa, FL	3.0	1.0–2.0	1057	$2,613	$2.47	0d	22	1.25mi
3821 N Oak Dr Unit J21 Tampa, FL	2.0	2.0	1010	$1,950	$1.93	21d	1	1.32mi
5055 S Dale Mabry Hwy Tampa, FL	2.0	1.0–2.0	797	$1,600	$2.01	4d	28	1.33mi
3811 N Oak Dr Unit 61 Tampa, FL	2.0	2.0	904	$1,880	$2.08	0d	1	1.39mi
3811 N Oak Dr Unit 61 Tampa, FL	2.0	2.0	904	$1,880	$2.08	12d	1	1.39mi
4207 S Dale Mabry Hwy Tampa, FL	1.0–3.0	1.0–2.0	1117	$1,595	$1.43	0d	8	1.43mi
6301 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	687	$1,726	$2.51	0d	35	1.45mi

HOA detail condo

• Monthly dues: $316 · $3,792/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $134,900 Active 647 DOM
2. 2026-06-18
   days on market $134,900 Active 644 DOM
3. 2026-06-17
   days on market $134,900 Active 643 DOM
4. 2026-06-16
   days on market $134,900 Active 642 DOM
5. 2026-06-15
   days on market $134,900 Active 641 DOM
6. 2026-06-13
   days on market $134,900 Active 639 DOM
7. 2026-06-13
   days on market $134,900 Active 638 DOM
8. 2026-06-09
   days on market $134,900 Active 635 DOM
9. 2026-06-08
   days on market $134,900 Active 634 DOM
10. 2026-06-07
    days on market $134,900 Active 633 DOM
11. 2026-06-04
    days on market $134,900 Active 630 DOM
12. 2026-06-03
    days on market $134,900 Active 629 DOM
13. 2026-06-02
    days on market $134,900 Active 628 DOM
14. 2026-06-01
    days on market $134,900 Active 627 DOM
15. 2026-05-31
    days on market $134,900 Active 626 DOM
16. 2025-04-18
    price $134,900 640-char remark

    Show marketing remark (640 chars)

    SPACE, SPACE AND MORE SPACE!! This spacious unit is located in Lovely Regency Cove, a Resident Owned Community located right in South Tampa and right on Tampa Bay! Daytime and night-time community activities, community room, Shuffleboard, Pool and Spa, Fitness Room, gated community with water access and boat launch, lovely sunrise walks and sunset strolls await you! This unit stands out from the crowd with LARGE LARGE master bedroom featuring an en suite half bath and inside washer and dryer. LOTS of storage. LOTS of Living Space. Just LOTS of what you need to feel comfortable in your new home. Beautiful Sunsets are waiting for you!

17. 2025-02-24
    price $164,900 640-char remark

    Show marketing remark (640 chars)

    SPACE, SPACE AND MORE SPACE!! This spacious unit is located in Lovely Regency Cove, a Resident Owned Community located right in South Tampa and right on Tampa Bay! Daytime and night-time community activities, community room, Shuffleboard, Pool and Spa, Fitness Room, gated community with water access and boat launch, lovely sunrise walks and sunset strolls await you! This unit stands out from the crowd with LARGE LARGE master bedroom featuring an en suite half bath and inside washer and dryer. LOTS of storage. LOTS of Living Space. Just LOTS of what you need to feel comfortable in your new home. Beautiful Sunsets are waiting for you!

18. 2024-09-12
    listed $169,000 Active 640-char remark

    Show marketing remark (640 chars)

    SPACE, SPACE AND MORE SPACE!! This spacious unit is located in Lovely Regency Cove, a Resident Owned Community located right in South Tampa and right on Tampa Bay! Daytime and night-time community activities, community room, Shuffleboard, Pool and Spa, Fitness Room, gated community with water access and boat launch, lovely sunrise walks and sunset strolls await you! This unit stands out from the crowd with LARGE LARGE master bedroom featuring an en suite half bath and inside washer and dryer. LOTS of storage. LOTS of Living Space. Just LOTS of what you need to feel comfortable in your new home. Beautiful Sunsets are waiting for you!

19. 2024-05-21
    historical
20. 2024-03-24
    price $179,500
21. 2024-03-13
    price $184,500
22. 2024-02-26
    listed $189,900 Active
23. 2016-03-10
    historical
24. 2016-02-02
    listed $134,900 Active

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $1,398 · $116/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,148
• − Mortgage interest: −$7,556
• − Property taxes: −$1,398
• − Insurance: −$5,793
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − HOA: −$3,792
• − Depreciation: −$3,924
• Taxable loss: −$3,019
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $-460/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 36,810
• Household income: $90,910
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1761.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 12% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 4%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -328.23%
• Current HPI: 374.7996
• Rent YoY: ▲ 0.69%
• 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

+0.0% since first listed

9 events — show timeline

• 2025-04-18 Price Changed $134,900 Stellar MLS as Distributed by MLS Grid
• 2025-02-24 Price Changed $164,900 Stellar MLS as Distributed by MLS Grid
• 2024-09-12 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-24 Price Changed $179,500 Stellar MLS as Distributed by MLS Grid
• 2024-03-13 Price Changed $184,500 Stellar MLS as Distributed by MLS Grid
• 2024-02-26 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2016-03-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-02-02 Listed $134,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+30.4%/yr

Latest (2025): $1,398 · +328.6% YoY. Source: county tax records.