2707 12th Ct · Palm Harbor, FL 34684

$149,999

2 bd · 2.5 ba · 1,344 sqft · Condo public records · 6 Days on market

Built 1986 $310/mo HOA · 15% 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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

BEST & FINAL OFFERS DUE BY WEDNESDAY 5/27 AT 5PM. Discover comfortable Florida living in the sought-after Wedge Wood of Palm Harbor community. This 2/2.5 townhome offers a spacious two-level floorplan with expansive private courtyard, offering approximately 450 square feet of fenced outdoor space. Upstairs, both bedrooms are spacious and include oversized closets and private balconies. Oversized sliding glass doors throughout the home create abundant natural light. Residents of Wedge Wood enjoy access to a variety of community amenities, including a heated saltwater pool, spa, tennis and basketball courts, playground, and scenic lake area. Conveniently positioned near highly rated sch

Key facts

• Private balconies
• Oversized closets
• Fenced outdoor space

Tags

• PRIVATE COURTYARD
• FENCED OUTDOOR SPACE
• OVERSIZED CLOSETS
• PRIVATE BALCONIES
• ABUNDANT NATURAL LIGHT
• HEATED SALTWATER POOL

Property features AI

Finance

• Other: Association contact: Rose Ann Tinus
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA fee of $310.51; HOA includes pool, clubhouse, maintenance (structure and grounds), insurance, management, and recreational facilities; Association approval required; Buyer approval required for community; Pets allowed (cats and dogs); Community features include clubhouse, park, pool, and street lights

Exterior

• Utilities: Private water source; Public sewer; Cable available; Electricity connected; Sewer connected; Public utilities
• Home design: Residential townhouse; Two stories; Faces southwest; Completed condition
• Construction: Brick and concrete construction; Shingle roof; Slab foundation; Built within a community (Wedge Wood of Palm Harbor)
• Exterior features: Patio; Balcony; Wood fencing; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Thermostat
• Laundry & utility: Washer; Dryer; Laundry room inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 9.5% vs local median 3.1% in Palm Harbor — 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 81/100 on livability (#95 in FL, #1,470 nationally) — a professional / high-income tenant draw. Strengths: schools A+, housing A+, commute 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 falling (-5.2%/yr); 371 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); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 34% of the median local income ($72k/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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $67k; list at $150k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $149,999

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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 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: 1.37% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.1

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: -3.3%
• Equity multiple: 0.88×
• Total profit: $-4,986
• Equity at exit: $22,365

10-year hold

• IRR: 2.1%
• Equity multiple: 1.13×
• Total profit: $5,403
• Equity at exit: $12,969

Cash invested: $42,000 (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 34684

• Rents YoY: -5.2%
• Active inventory: 371
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$787
• Tax from tax record: −$72 /mo · $862/yr
• Insurance: −$62
• HOA: −$310
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $396

Break-even live

Break-even rent $1,558

Max offer price $149,999

Occupancy floor 76%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2712 14th Ct Palm Harbor, FL	2.0	2.5	1344	$2,050	$1.53	24d	1	0.03mi
2605 10th Ct Palm Harbor, FL	2.0	2.5	1344	$1,950	$1.45	24d	1	0.07mi
2607 6th Ct Unit 1 Palm Harbor, FL	2.0	2.5	1344	$1,795	$1.34	24d	1	0.13mi
2705 5th Ct Palm Harbor, FL	2.0	2.5	1344	$2,200	$1.64	4d	1	0.17mi
31790 US Highway 19 N Palm Harbor, FL	1.0–2.0	1.0–2.0	842	$2,066	$2.45	11d	16	0.38mi
2700 Penzance St Palm Harbor, FL	3.0	2.5	1540	$2,200	$1.43	14d	1	0.40mi
2701 Penzance St Unit 2701 Palm Harbor, FL	3.0	2.5	1540	$2,095	$1.36	24d	1	0.43mi
248 St Ives Dr #248 Palm Harbor, FL	3.0	2.0	1350	$2,300	$1.70	4d	1	0.45mi
2690 Coral Landings Blvd #415 Palm Harbor, FL	3.0	2.0	1351	$2,000	$1.48	19d	1	0.54mi
4000 Poinciana Ct Palm Harbor, FL	3.0	2.0	1298	$2,600	$2.00	3d	1	0.59mi
2690 Coral Landings Blvd Palm Harbor, FL	2.0–3.0	2.0	1135	$1,700	$1.50	11d	2	0.66mi
2678 Markham Ct Palm Harbor, FL	2.0	2.0	923	$1,999	$2.17	24d	1	0.67mi
2803 Northcote Dr Palm Harbor, FL	3.0	2.0	1050	$2,300	$2.19	21d	1	0.73mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	24d	1	0.77mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	14d	1	0.77mi
2764 Kavalier Dr Palm Harbor, FL	3.0	2.0	1088	$2,300	$2.11	17d	1	0.77mi
3751 Mackenzie Ct Palm Harbor, FL	3.0	2.0	1160	$2,650	$2.28	1d	1	0.80mi
3781 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1055	$2,500	$2.37	24d	1	0.82mi
3726 Albion Ct Palm Harbor, FL	3.0	2.0	1060	$2,350	$2.22	13d	1	0.83mi
3726 Albion Ct Palm Harbor, FL	3.0	2.0	1060	$2,350	$2.22	13d	1	0.83mi
2914 Cypress Green Dr Palm Harbor, FL	3.0	2.0	1245	$2,600	$2.09	19d	1	0.85mi
650 Bellingham Pl Palm Harbor, FL	3.0	2.0	1320	$3,200	$2.42	4d	1	0.90mi
762 Barbara St Palm Harbor, FL	2.0	2.0	1146	$2,200	$1.92	24d	1	0.92mi
692 Bellingham Pl Palm Harbor, FL	3.0	2.0	1320	$2,800	$2.12	4d	1	0.94mi
3662 Chatham Dr Palm Harbor, FL	3.0	2.0	1866	$3,400	$1.82	24d	1	0.99mi
2833 Orange Tree Cir N Unit C Palm Harbor, FL	2.0	2.0	960	$1,845	$1.92	24d	1	1.08mi
3975 Country Place Ln Palm Harbor, FL	1.0–2.0	1.0–2.0	788	$1,637	$2.08	1d	16	1.13mi
2843 Thaxton Dr #38 Palm Harbor, FL	2.0	2.5	1406	$2,100	$1.49	24d	1	1.16mi
2843 Thaxton Dr #38 Palm Harbor, FL	2.0	2.5	1406	$2,000	$1.42	4d	1	1.17mi
2879 Thaxton Dr #55 Palm Harbor, FL	2.0	2.5	1396	$2,200	$1.58	4d	1	1.18mi
2897 Thaxton Dr #65 Palm Harbor, FL	2.0	2.5	1390	$2,280	$1.64	4d	1	1.19mi
3462 Maclaren Dr Palm Harbor, FL	2.0	2.0	1076	$2,150	$2.00	7d	1	1.20mi
3583 Whispering Oaks Ln Palm Harbor, FL	2.0	2.5	1124	$1,800	$1.60	24d	1	1.27mi
220 Calibre Downs Ln Palm Harbor, FL	1.0–2.0	1.0–2.5	1052	$2,299	$2.19	24d	13	1.29mi
3590 Magnolia Ridge Cir Unit G Palm Harbor, FL	2.0	2.0	1090	$1,695	$1.56	24d	1	1.32mi
1624 Heather Pl Palm Harbor, FL	2.0	2.0	1248	$2,295	$1.84	24d	1	1.32mi
3028 Bonaventure Cir #103 Palm Harbor, FL	2.0	2.0	900	$1,500	$1.67	24d	1	1.35mi
3326 Covered Bridge Dr W Dunedin, FL	2.0	2.5	1731	$2,675	$1.55	10d	1	1.41mi
2523 Pine Ridge Way S Unit C2 Palm Harbor, FL	2.0	2.0	1038	$1,750	$1.69	24d	1	1.41mi
2575 Pine Ridge Way S Unit A2 Palm Harbor, FL	2.0	2.0	1104	$1,590	$1.44	24d	1	1.42mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-22
   listed $149,999 Active
2. 1986-10-13
   soldstatus $66,900

ⓘ 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: $862 · $72/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$383/yr (+$32/mo · 44.4%)

ⓘ 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 · 25 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,709
• − Mortgage interest: −$8,402
• − Property taxes: −$862
• − Insurance: −$750
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − HOA: −$3,720
• − Depreciation: −$4,364
• Taxable income: $2,658
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $4,111/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 — Palm Harbor

• Score: 81/100
• State rank: #95
• US rank: #1470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 79,072
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,029
• Household income: $72,145
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1495.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Romanian 5% Scotch-Irish 3%
• Foreign-born: 13% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -296.23%
• Current HPI: 301.651
• Rent YoY: ▼ -5.17%
• 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

+124.2% since first listed

2 events — show timeline

• 2026-05-22 Listed $149,999 Stellar MLS as Distributed by MLS Grid
• 1986-10-13 Sold (Public Records) $66,900 Public Records

Property tax history

-3.2%/yr

Latest (2025): $862 · +8.3% YoY. Source: county tax records.