2263 Bancroft Cir N Unit B · Palm Harbor, FL 34683

$225,000

2 bd · 2.0 ba · 1,030 sqft · Condo public records · 5 Days on market

Built 1983 $166/mo HOA · 8% of rent

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready, low-maintenance living in the heart of Palm Harbor! This spacious 2-bedroom, 2-bath villa offers the comfort, updates, location, and easy lifestyle you are looking for. Step inside to find fresh interior paint and updated porcelain wood-look tile flooring flowing throughout the entire home, creating a clean, seamless modern feel from the moment you walk in. The kitchen features a convenient breakfast bar, abundant cabinet storage, and updated appliances approximately 5 years old, making everyday living and entertaining effortless. The split floor plan offers privacy for everyone, with a generous primary suite featuring a walk-in closet and en suite bath, while the second bedr

Key facts

• 2,914 sq ft lot
• Community pool
• Built 1983

Property features AI

Finance

• Other: Total monthly fees shown as $166 ($1,992 annually)
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA fee of $166; HOA includes cable TV, pool, escrow reserves, structure maintenance, ground maintenance, sewer, trash and water; Association approval required; Community clubhouse and pool; Pets not allowed; Association managed by Proactive Property Management

Exterior

• Parking: Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; BB/HS internet available; Water connected; Sewer connected
• Home design: Residential villa; One story; Faces south; Homestead property
• Construction: Stucco and frame construction; Shingle roof; Slab foundation; Built on a 0.07-acre lot
• Exterior features: Asphalt road frontage; Public maintained road

Interior

• Kitchen: Dishwasher; Microwave; Range hood; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Open floorplan; Solid surface counters; Thermostat; Walk-in closet(s); Florida room
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-32 ($-380/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (11.5% below list).
• Recommended offer: $199k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: housing A+, commute A, crime 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.
• Zoned schools: Sutherland Elementary School (math 78% / reading 68%, grade A, #271 of 2,144 statewide, top 13%, 627 students, 42% FRL); Palm Harbor University High (math 54% / reading 72%, grade B-, #89 of 667 statewide, top 14%, 2,474 students, 26% FRL).
• Zoned-school proficiency averages 68% at this address vs 51% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Pinellas average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents falling (-4.3%/yr); 390 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2k of loan paydown is wiped out by about $7k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $140k; list at $225k implies a 61% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,050 (11.5% 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. 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 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?
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: 0.88% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 9.4

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: -20.8%
• Equity multiple: 0.30×
• Total profit: $-44,251
• Equity at exit: $33,548

10-year hold

• IRR: -23.3%
• Equity multiple: -0.01×
• Total profit: $-63,430
• Equity at exit: $19,454

Cash invested: $63,000 (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 34683

• Rents YoY: -4.3%
• Active inventory: 390
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$165 /mo · $1,974/yr
• Insurance: −$94
• HOA: −$166
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-32

Break-even live

Break-even rent $2,031

Max offer price $219,403

Occupancy floor 97%

Sensitivity live

Price	-10% $96	-5% $32	+0% $-32	+5% $-95	+10% $-159
Rent	-10% $-189	-5% $-110	+0% $-32	+5% $47	+10% $126
Rate	-1.0pp $82	-0.5pp $26	base $-32	+0.5pp $-90	+1.0pp $-149

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3023 Beecher Dr E Unit D Palm Harbor, FL	3.0	2.5	1425	$2,400	$1.68	18d	1	0.06mi
2945 Grovewood Blvd Unit A Palm Harbor, FL	2.0	2.0	1030	$1,775	$1.72	18d	1	0.08mi
3121 Beecher Dr E Unit A Palm Harbor, FL	2.0	2.0	976	$2,100	$2.15	8d	1	0.10mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,860	$1.81	8d	1	0.13mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,850	$1.80	4d	1	0.13mi
3300 Fox Chase Cir N Palm Harbor, FL	2.0	2.0	906	$2,125	$2.35	2d	2	0.27mi
35820 U.S. 19 Unit A2 Palm Harbor, FL	1.0	1.0	740	$1,884	$2.55	5d	1	0.33mi
35820 U.S. 19 Unit B1 Palm Harbor, FL	2.0	2.0	1116	$2,245	$2.01	5d	1	0.33mi
35820 U.S. 19 Unit C1 Palm Harbor, FL	3.0	2.0	1404	$2,781	$1.98	5d	1	0.33mi
3277 Fox Chase Cir N #211 Palm Harbor, FL	2.0	2.0	825	$1,495	$1.81	25d	1	0.33mi
2334 Citrus Hill Rd Palm Harbor, FL	2.0	2.0	1189	$2,350	$1.98	5d	1	0.47mi
36090 US Highway 19 N Palm Harbor, FL	1.0–3.0	1.0–2.0	1046	$2,557	$2.44	3d	66	0.47mi
2199 Chianti Pl Unit 9-0923 Palm Harbor, FL	2.0	2.0	1030	$2,300	$2.23	25d	1	0.64mi
2139 Chianti Pl Unit 154 Palm Harbor, FL	1.0	1.0	830	$1,700	$2.05	25d	1	0.67mi
2151 Chianti Pl Unit 127 Palm Harbor, FL	2.0	2.0	1085	$1,700	$1.57	24d	1	0.67mi
2200 Tuscany Trce #15 Palm Harbor, FL	3.0	2.0	1300	$2,300	$1.77	25d	1	0.67mi
2400 Clubside Ct Palm Harbor, FL	1.0–3.0	1.0–2.0	1129	$1,940	$1.72	2d	39	0.70mi
2139 Chianti Pl Unit 15-0153 Palm Harbor, FL	2.0	2.0	1226	$1,823	$1.49	5d	1	0.72mi
72 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1100	$1,800	$1.64	18d	1	0.73mi
2141 Portofino Pl Palm Harbor, FL	1.0	1.0	700	$1,510	$2.16	25d	2	0.77mi
2218 Portofino Pl #247 Palm Harbor, FL	2.0	2.5	1050	$1,895	$1.80	18d	1	0.78mi
65 Lake Shore Dr Palm Harbor, FL	2.0	1.0	868	$1,700	$1.96	18d	1	0.78mi
2176 Portofino Pl Unit 26-026 Palm Harbor, FL	1.0	1.0	830	$1,600	$1.93	25d	1	0.79mi
36750 US Highway 19 N Unit 19-115 Palm Harbor, FL	1.0	1.0	825	$2,150	$2.61	4d	1	0.80mi
2249 Portofino Pl #2221 Palm Harbor, FL	2.0	2.0	1200	$1,795	$1.50	14d	1	0.81mi
2171 Portofino Pl #2727 Palm Harbor, FL	1.0	1.0	700	$1,550	$2.21	25d	1	0.81mi
36750 US Highway 19 N Unit 6109 Palm Harbor, FL	1.0	1.0	825	$1,975	$2.39	25d	1	0.82mi
2107 Portofino Pl Unit 30-3014 Palm Harbor, FL	3.0	2.0	1350	$2,150	$1.59	4d	1	0.82mi
2107 Portofino Pl Unit 30-302 Palm Harbor, FL	2.0	2.0	1034	$2,500	$2.42	8d	1	0.83mi
2107 Portofino Pl Palm Harbor, FL	2.0	2.0	1055	$2,250	$2.13	5d	2	0.83mi
1801 E Orangeside Rd Palm Harbor, FL	3.0	2.0	1369	$2,575	$1.88	24d	1	0.83mi
1691 E Orangecrest Ave Palm Harbor, FL	2.0	2.0	1193	$2,600	$2.18	17d	1	0.85mi
2481 Malcolm Dr Palm Harbor, FL	2.0	2.0	1319	$2,600	$1.97	18d	1	0.85mi
47 Delaware Ct #10 Palm Harbor, FL	2.0	2.0	1008	$1,800	$1.79	20d	1	0.85mi
21 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1434	$2,895	$2.02	5d	1	0.86mi
245 Lake Tarpon Dr Palm Harbor, FL	2.0	2.0	1000	$1,995	$2.00	3d	1	0.91mi
2523 Pine Ridge Way S Unit C2 Palm Harbor, FL	2.0	2.0	1038	$1,750	$1.69	25d	1	0.96mi
2575 Pine Ridge Way S Unit A2 Palm Harbor, FL	2.0	2.0	1104	$1,590	$1.44	25d	1	0.96mi
218 Maple Ave Palm Harbor, FL	3.0	2.0	1374	$2,600	$1.89	18d	1	1.03mi
144 Stafford Cir Palm Harbor, FL	2.0	2.0	1264	$2,295	$1.82	5d	1	1.04mi

HOA detail condo

• Monthly dues: $166 · $1,992/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $225,000 Active 5 DOM
2. 2026-06-17
   days on market $225,000 Active 4 DOM
3. 2026-06-16
   days on market $225,000 Active 3 DOM
4. 2026-06-15
   days on market $225,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $225,000 Active 1 DOM

ⓘ 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: $1,974 · $165/mo
• Projected year-2 tax: $1,974 · $165/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 ≥108°F today · 28 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: $23,886
• − Mortgage interest: −$12,603
• − Property taxes: −$1,974
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − HOA: −$1,992
• − Depreciation: −$6,545
• Taxable loss: −$4,176
• Est. tax savings @ 24.0%: +$1,002
• After-tax cash flow: $622/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): 33,911
• Household income: $92,885
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 919.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, China, Dominican Republic
• Languages at home: 83% English-only · Spanish 5% Arabic 4% Russian/Polish/Slavic 3%

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: ▼ -295.95%
• Current HPI: 314.8777
• Rent YoY: ▼ -4.33%
• 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

+394.5% since first listed

4 events — show timeline

• 2026-06-13 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2020-12-03 Sold (Public Records) $140,000 Public Records
• 1990-04-19 Sold (Public Records) $43,900 Public Records
• 1983-11-01 Sold (Public Records) $45,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,974 · +6.6% YoY. Source: county tax records.