2750 E Bay Dr Unit 15E · Largo, FL 33771

$135,000

2 bd · 2.0 ba · 950 sqft · Condo public records · 128 Days on market

Built 1972 $524/mo HOA · 31% of rent

---

Why this score? — see what drove the D 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 +9.2/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Step inside your FULLY FURNISHED 2-bedroom, 2-bath CORNER UNIT condo; a true turnkey property, offering comfort and convenience in the tranquil 55+ community of Bay Palms Condominiums. Located on the second floor, the unit enjoys abundant natural light and boasts a bright, open layout perfect for easy living. The open-concept dining and living area is finished with laminate flooring, seamlessly connecting to a sitting room that overlooks lush, landscaped grounds. Each of the generously sized bedrooms offers ample storage, with convenient walk-in closets, and the primary suite includes an en-suite bathroom, for your privacy. This unit has an upgraded HVAC system from 2023 and NEW electrical

Key facts

• Laminate flooring
• Turnkey property
• Open layout

Tags

• CORNER UNIT
• TURNKEY PROPERTY
• ABUNDANT NATURAL LIGHT
• OPEN LAYOUT
• LAMINATE FLOORING
• SITTING ROOM

Property features AI

Finance

• Other: Buyer approval required
• Financial info: Total monthly fees $524; total annual fees $6,288; Lease restrictions apply
• HOA & community: Monthly condo fee of $524 (includes pool, insurance, structure maintenance, grounds maintenance, sewer, trash, water); Association approval required; Association: Richard Dr; Community features include clubhouse, community mailbox, pool, sidewalks; Senior community; No pets allowed; Furnished

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Electricity available
• Home design: Condominium; Residential property; 2 total stories; Unit on 2nd floor; Faces south
• Construction: Block construction; Membrane roof; Shingle roof; Slab foundation; Built as part of Building E
• Exterior features: Lighting; Rain gutters; Sidewalk; Sliding doors; Storage

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Open floorplan; Living room / dining room combo; Solid surface counters; Solid wood cabinets; Thermostat; Walk-in closet(s); Window treatments
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (13.1% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $117k (13.1% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 4.2% in Largo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Belcher Elementary School (math 57% / reading 55%, grade C+, #832 of 2,144 statewide, top 40%, 489 students, 62% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL).
• Market conditions: Rents soft (-1.1%/yr); 225 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 34% of the median local income ($60k/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 $933 of loan paydown is wiped out by about $4k 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 128 days — a 12% lower offer ($119k) 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 $51k; list at $135k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% 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 $117,291 (13.1% 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 128 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.26% ✓
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.9%
• Equity multiple: 0.13×
• Total profit: $-32,901
• Equity at exit: $20,129

10-year hold

• IRR: -56.1%
• Equity multiple: -0.45×
• Total profit: $-54,737
• Equity at exit: $11,672

Cash invested: $37,800 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 225
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$708
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$56
• HOA: −$524
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-100

Break-even live

Break-even rent $1,826

Max offer price $117,291

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-62	+0% $-100	+5% $-138	+10% $-177
Rent	-10% $-234	-5% $-167	+0% $-100	+5% $-33	+10% $34
Rate	-1.0pp $-32	-0.5pp $-66	base $-100	+0.5pp $-135	+1.0pp $-171

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2505 E Bay Dr Lot 77 Largo, FL	2.0	1.5	1080	$1,395	$1.29	21d	1	0.23mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	5d	1	0.27mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	12d	1	0.27mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	23d	1	0.31mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	21d	1	0.31mi
199 Fulton St NE Unit 4 Largo, FL	2.0	1.0	760	$1,600	$2.11	15d	1	0.32mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$1,774	$1.81	4d	21	0.36mi
3073 Pine Tree Ave Largo, FL	2.0	1.0	825	$1,350	$1.64	25d	1	0.40mi
3377 Sherwood Dr Unit A Largo, FL	2.0	1.0	1064	$1,650	$1.55	9d	1	0.41mi
3135 Pine Tree Ave Unit A Largo, FL	2.0	1.0	923	$1,395	$1.51	23d	1	0.42mi
3135 Pine Tree Ave Largo, FL	2.0	1.0	923	$1,395	$1.51	12d	1	0.42mi
636 Lake Palms Dr Unit Stylish Largo, FL	2.0	2.0	870	$2,000	$2.30	5d	1	0.45mi
636 Lake Palms Dr Unit Stylish Largo, FL	3.0	2.0	1000	$2,200	$2.20	25d	1	0.45mi
2045 E Bay Dr Largo, FL	1.0–2.0	1.0–2.0	1114	$1,830	$1.64	3d	15	0.46mi
101 Imperial Palm Dr Largo, FL	1.0–2.0	1.0–2.0	907	$1,810	$1.99	3d	35	0.51mi
301 Seacrest Dr Largo, FL	1.0–2.0	1.0–1.5	975	$1,625	$1.67	23d	1	0.51mi
779 34th St SE Unit 1319966P Largo, FL	2.0	1.0	990	$2,941	$2.97	9d	1	0.67mi
500 Belcher Rd S #18 Largo, FL	1.0	1.0	637	$1,500	$2.35	4d	1	0.73mi
221 Lake Ave NE Largo, FL	1.0–2.0	1.0–2.0	1095	$2,160	$1.97	4d	11	0.77mi
4215 E Bay Dr Clearwater, FL	1.0	1.0	575	$1,775	$3.09	19d	3	0.98mi
4215 E Bay Dr Clearwater, FL	1.0	1.0	535	$2,300	$4.30	9d	4	0.98mi
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	25d	1	1.01mi
4500 E Bay Dr #149 Clearwater, FL	2.0	2.0	1050	$1,850	$1.76	25d	1	1.10mi
4500 E Bay Dr #138 Clearwater, FL	2.0	2.0	1050	$1,350	$1.29	25d	1	1.10mi
1100 East Bay Dr #104 Largo, FL	2.0	2.0	840	$1,950	$2.32	5d	1	1.10mi
3331 Whispering Dr N Largo, FL	2.0	2.0	1053	$2,190	$2.08	25d	1	1.14mi
1601 Palm Way Largo, FL	3.0	1.0	1084	$1,950	$1.80	25d	1	1.18mi
3736 141st Pl Largo, FL	2.0	1.0	805	$1,650	$2.05	25d	1	1.28mi
1845 S Highland Ave Clearwater, FL	2.0	2.0	904	$1,525	$1.69	4d	2	1.30mi
705 3rd Ave NE Unit C Largo, FL	3.0	2.0	1113	$2,195	$1.97	4d	1	1.30mi
1517 16th Cir SE Largo, FL	1.0	1.0	625	$1,250	$2.00	5d	1	1.35mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	3d	189	1.38mi
1653 Bravo Dr Clearwater, FL	1.0	1.0	850	$2,200	$2.59	5d	1	1.41mi
516 5th Ave NE Largo, FL	3.0	2.0	1073	$2,250	$2.10	16d	1	1.43mi
516 5th Ave NE Largo, FL	3.0	2.0	1057	$2,250	$2.13	25d	1	1.43mi
601 Rosery Rd NE Largo, FL	1.0–3.0	1.0–2.5	1192	$1,830	$1.54	3d	38	1.45mi
3767 138th Ave N Unit B Largo, FL	2.0	1.0	780	$1,495	$1.92	3d	1	1.45mi
447 6th Ave NE Unit B Largo, FL	2.0	1.0	840	$1,650	$1.96	12d	1	1.45mi
3718 138th Ave N Unit 2 Largo, FL	2.0	1.0	750	$1,500	$2.00	25d	1	1.46mi

HOA detail condo

• Monthly dues: $524 · $6,288/yr
• Likely covers: electriclandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $135,000 Active 128 DOM
2. 2026-06-17
   days on market $135,000 Active 127 DOM
3. 2026-06-16
   days on market $135,000 Active 126 DOM
4. 2026-06-15
   days on market $135,000 Active 125 DOM
5. 2026-06-13
   days on market $135,000 Active 123 DOM
6. 2026-06-09
   days on market $135,000 Active 119 DOM
7. 2026-06-08
   days on market $135,000 Active 118 DOM
8. 2026-06-07
   days on market $135,000 Active 117 DOM
9. 2026-06-04
   days on market $135,000 Active 114 DOM
10. 2026-06-03
    days on market $135,000 Active 113 DOM
11. 2026-06-01
    days on market $135,000 Active 111 DOM
12. 2026-05-31
    days on market $135,000 Active 110 DOM
13. 2026-05-13
    price $135,000
14. 2026-02-10
    listed $140,000 Active
15. 2025-06-25
    historical
16. 2025-05-21
    price $140,000
17. 2025-03-07
    price $148,000
18. 2025-02-04
    price $154,900
19. 2025-01-01
    listed $159,000 Active
20. 2004-01-23
    soldstatus $51,000
21. 2003-10-09
    soldstatus $29,000

ⓘ 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: $1,851 · $154/mo
• Projected year-2 tax: $1,851 · $154/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 · 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: $20,388
• − Mortgage interest: −$7,562
• − Property taxes: −$1,851
• − Insurance: −$675
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − HOA: −$6,288
• − Depreciation: −$3,927
• Taxable loss: −$3,177
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $-440/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): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

+365.5% since first listed

9 events — show timeline

• 2026-05-13 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-21 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-07 Price Changed $148,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-04 Price Changed $154,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-01 Listed $159,000 Stellar MLS as Distributed by MLS Grid
• 2004-01-23 Sold (Public Records) $51,000 Public Records
• 2003-10-09 Sold (Public Records) $29,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $1,851 · +7.2% YoY. Source: county tax records.