4851 W Gandy Blvd Unit B2L25 · Tampa, FL 33611

$80,000

2 bd · 1.0 ba · 996 sqft · Condo public records · 121 Days on market

Built 1965 $369/mo HOA · 16% of rent ↓ 59% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

PRICE REDUCED. Incredible Value opportunity. Tucked away in S. Tampa right on the Bay is a quiet, gated and beautifully maintained 55+ community called Regency Cove, offering easy access to beaches, airport, expressways, and downtown Tampa. The Cove features tons of amenities, including a heated pool, fishing pier, pavilions, kayak launch, shuffleboard, gym, fitness classes, RV and boat storage and more. While there are many homes for sale in this community, none provide the same value proposotion as this one with the most attractive price to cost basis opportunity available - it even includes all furnishings, flat screen TV's, all kitchen utensils - literally turnkey as a 2nd home or inves

Key facts

• Gated community
• Kayak launch
• Fishing pier

Tags

• GATED COMMUNITY
• HEATED POOL
• FISHING PIER
• KAYAK LAUNCH
• SHUFFLEBOARD
• GYM

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total monthly fees $369; total annual fees $4,428; Turnkey / furnished
• HOA & community: Has HOA (monthly fee $369); Association amenities include clubhouse and pool; Association fee covers grounds maintenance, management, pool, recreational facilities, sewer, trash and water; Association approval required; Senior community; Pets not allowed; Community features: clubhouse, fitness center, pool, golf carts OK

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Broadband/high-speed internet available
• Home design: Residential mobile home (double wide); One story; Faces southwest; Entry level: One
• Construction: Metal siding; Wood siding; Metal roof; Crawlspace foundation; Completed condition; Built as double wide
• Exterior features: Canal (saltwater) access; Fishing pier; Asphalt road; Private maintained road; Trees/landscaped

Interior

• Kitchen: Dishwasher; Range; Range hood; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Awning(s); Storage
• Laundry & utility: Inside laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

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; 416 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• This rent runs 31% of the median local income ($91k/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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $10k (11%) 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 2.90% ✓
• Cap rate: 19.84%
• Cash-on-cash: 48.39%
• DSCR: 3.15
• GRM: 2.9

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: 14.8%
• Equity multiple: 1.56×
• Total profit: $12,656
• Equity at exit: $11,928

10-year hold

• IRR: 20.4%
• Equity multiple: 2.41×
• Total profit: $31,598
• Equity at exit: $6,917

Cash invested: $22,400 (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: 416
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,323 high
• Mortgage (P&I): −$420
• Tax from tax record: −$110 /mo · $1,322/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$369
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $477

Break-even live

Break-even rent $1,720

Max offer price $80,000

Occupancy floor 74%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 S West Shore Blvd Tampa, FL	1.0–2.0	1.0–2.0	801	$2,256	$2.82	1d	18	0.11mi
4851 W Gandy Blvd Tampa, FL	1.0–2.0	1.0–1.5	615	$1,400	$2.28	17d	2	0.20mi
5000 Culbreath Key Way Tampa, FL	1.0–2.0	1.0–2.0	847	$2,995	$3.54	2d	3	0.20mi
4922 W Gandy Blvd #102 Tampa, FL	1.0	1.0	595	$1,450	$2.44	12d	1	0.23mi
5001 Bridge St Tampa, FL	3.0	1.0–2.0	1005	$2,954	$2.94	2d	10	0.49mi
5350 Bridge St Tampa, FL	1.0–3.0	1.0–2.0	1092	$2,999	$2.75	1d	12	0.60mi
5320 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	798	$2,731	$3.42	1d	17	0.62mi
4315 Aegean Dr Unit 102C Tampa, FL	2.0	1.0	1000	$1,849	$1.85	21d	1	0.64mi
5127 W Tyson Ave Tampa, FL	3.0	1.0–2.5	1078	$4,469	$4.14	4d	25	0.69mi
4304 La Riviera Ct Tampa, FL	2.0	1.5	1044	$3,275	$3.14	24d	1	0.69mi
4521 W La Villa Ln Tampa, FL	2.0	1.5	1044	$1,875	$1.80	24d	1	0.69mi
4003 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	690	$1,950	$2.82	1d	303	0.69mi
4233 La Sorrento Ct Tampa, FL	2.0	1.5	1044	$2,200	$2.11	3d	1	0.72mi
4220 La Dega Ct Tampa, FL	2.0	2.0	1044	$1,899	$1.82	24d	1	0.74mi
4220 La Dega Ct Unit 1 Tampa, FL	2.0	1.5	1044	$1,899	$1.82	24d	1	0.74mi
5301 W Tyson Ave Tampa, FL	1.0–3.0	1.0–2.0	1176	$4,045	$3.44	1d	190	0.78mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	10d	1	0.80mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	24d	1	0.80mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	4d	1	0.80mi
4002 S Manhattan Ave Tampa, FL	1.0	1.0	650	$1,524	$2.34	2d	3	0.92mi
5608 S Manhattan Ave Unit A Tampa, FL	2.0	1.0	800	$500	$0.62	17d	1	0.98mi
4716 W Wisconsin Ave Tampa, FL	3.0	1.0	980	$3,200	$3.27	24d	1	1.01mi
5432 W Tyson Ave Tampa, FL	1.0–2.0	1.0–2.0	911	$3,653	$4.01	1d	51	1.05mi
5145 S Dale Mabry Hwy Tampa, FL	3.0	1.0–2.0	1057	$3,253	$3.08	3d	20	1.06mi
5055 S Dale Mabry Hwy Tampa, FL	2.0	1.0–2.0	797	$2,000	$2.51	3d	28	1.14mi
3821 N Oak Dr Unit J21 Tampa, FL	2.0	2.0	1010	$1,950	$1.93	20d	1	1.17mi
6207 S West Shore Blvd Tampa, FL	3.0	1.0–2.0	1076	$3,930	$3.65	1d	36	1.17mi
3811 N Oak Dr Unit 61 Tampa, FL	2.0	2.0	904	$1,880	$2.08	10d	1	1.24mi
4207 S Dale Mabry Hwy Tampa, FL	1.0–3.0	1.0–2.0	1117	$2,185	$1.96	3d	7	1.28mi
4301 W Bay Ave Tampa, FL	3.0	2.0	950	$2,298	$2.42	20d	1	1.31mi
5117 S Clarice Ct Unit 5117A Tampa, FL	2.0	1.0	900	$1,756	$1.95	13d	1	1.36mi
5101 S Clarice Ct Tampa, FL	2.0	1.0	820	$1,300	$1.59	24d	1	1.38mi
5107 S Clarice Ct Tampa, FL	2.0	1.0	1000	$1,500	$1.50	1d	1	1.38mi
6301 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	687	$1,979	$2.88	1d	33	1.38mi
5113 S Clarice Ct Unit 5113A Tampa, FL	2.0	1.0	1000	$1,500	$1.50	14d	1	1.39mi
6237 S Manhattan Ave Tampa, FL	2.0	1.0	900	$1,749	$1.94	4d	11	1.40mi
3814 W Euclid Ave Tampa, FL	1.0	1.0	650	$1,500	$2.31	24d	2	1.46mi

HOA detail condo

• Monthly dues: $369 · $4,428/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-04-30
   status Pending
2. 2026-03-26
   price $80,000
3. 2026-03-16
   status Active
4. 2026-03-09
   status Pending
5. 2026-03-05
   status Active
6. 2026-02-24
   status Pending
7. 2025-12-14
   listed $89,900 Active
8. 2025-07-16
   status Pending
9. 2025-07-15
   historical
10. 2025-06-03
    price $99,000
11. 2025-03-20
    price $109,000
12. 2025-03-06
    price $119,000
13. 2025-02-04
    listed $124,995 Active
14. 2024-04-22
    historical
15. 2024-03-05
    price $150,000
16. 2024-02-09
    price $155,000
17. 2024-01-08
    status Active
18. 2023-12-31
    historical
19. 2023-12-17
    price $165,000
20. 2023-08-03
    status Active
21. 2023-07-24
    status Pending
22. 2023-06-20
    price $174,999
23. 2023-03-24
    price $179,999
24. 2023-02-10
    listed $195,000 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: $1,322 · $110/mo
• Projected year-2 tax: $1,322 · $110/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: $27,879
• − Mortgage interest: −$4,481
• − Property taxes: −$1,322
• − Insurance: −$5,518
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − HOA: −$4,428
• − Depreciation: −$2,327
• Taxable income: $5,341
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $4,440/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: 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

-59.0% since first listed

24 events — show timeline

• 2026-04-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $80,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-14 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-03 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $109,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-06 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-04 Listed $124,995 Stellar MLS as Distributed by MLS Grid
• 2024-04-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-05 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-09 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-12-17 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-07-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-06-20 Price Changed $174,999 Stellar MLS as Distributed by MLS Grid
• 2023-03-24 Price Changed $179,999 Stellar MLS as Distributed by MLS Grid
• 2023-02-10 Listed $195,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $1,322 · +5.6% YoY. Source: county tax records.