1301 N Lotus Dr · Dunedin, FL 34698

$699,900

4 bd · 3.0 ba · 2,549 sqft · MultiFamily public records · 100 Days on market

Built 1959 9,357 sqft lot

---

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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.0/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Investor Special! Multi Family Turnkey Investment Property With Tenants In Place. Don't miss this Location Location Location Opportunity Quadraplex available in DUNEDIN, Sunny Ridge Subdivision! All units have yearly leases, feature wall AC’s, kitchens, private entrances and mailboxes. Located in a quiet neighborhood on an oversized corner lot. Approx 1.5 miles to Downtown Dunedin. Lots of space Under Roof means Opportunity for "added value" rental growth, or remodel, and appreciation. Units feature open floor plans with lots of natural lighting and 3rd Party laundry facility onsite. 2 Carports with Ample Parking. New Roof 2013, Windows/Doors 2015, Gutters & Leaf Guards 2019. Easy access to shopping, fine dining, downtown Dunedin, Arts & entertainment, Hwy 19, Countryside Mall, pharmacies, groceries and only a short drive to the sandy beaches! Please DO NOT DISTURB tenants. Information and measurements believed accurate but not guaranteed and to be verified by buyer.

Key facts

• 9,357 sq ft lot
• 3 parking spots
• Built 1959

Property features AI

Finance

• Other: Property type: Residential Income (quadruplex); Total living area and building area reported; Lot approximately 0.21 acres (79 x 120)
• Financial info: Gross income reported; Annual net income and monthly expenses available for investor review; Lease terms: gross lease with pass-throughs; Tenants responsible for electricity, sewer and trash collection
• HOA & community: Association amenities include laundry; Pets allowed: cats and dogs

Exterior

• Parking: Assigned parking; Covered parking; Guest parking; Parking pad; Carport with 3 spaces
• Security: Hurricane shutters
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Residential income property (quadruplex); Single-story building; Corner lot; Located within city limits; Landscaped lot; Near public transit; Paved access
• Construction: Block construction; Shingle roof; Slab foundation; Completed condition; One building
• Exterior features: Covered patio; Patio; Fence; Hurricane shutters; Exterior lighting; Sliding doors; Outdoor storage; Shed(s)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 5 bedrooms across units (unit mix includes 1-bed and 2-bed units)
• Flooring: Carpet; Laminate; Linoleum; Tile
• Bathrooms: Multiple bathrooms across units (1- and 2-bath configurations)
• Heating & cooling: Baseboard heating; Electric heating; Space heaters; Wall/window air conditioning units
• Interior features: Ceiling fans; Double-pane windows
• Laundry & utility: Laundry closet; Outdoor laundry access

What this means for you Summary

Snapshot

• This is a 3×1.0bd/1.0ba + 1×2.0bd/2.0ba units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive. Per door: $210/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $700k).
• Recommended offer: $637k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.8% in Dunedin — 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 86/100 on livability (#15 in FL, #411 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: employment C-, amenities D.
• 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: Garrison-Jones Elementary School (math 66% / reading 58%, grade B, #608 of 2,144 statewide, top 29%, 593 students, 46% FRL); Dunedin High School (math 36% / reading 45%, grade F, #294 of 667 statewide, top 44%, 1,203 students, 48% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 481 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $7,006/mo this rent would consume 113% of the median local household income ($74k/yr) (locally 1390% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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 100 days — a 9% lower offer ($637k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $555k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $636,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.00% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-62,114
• Equity at exit: $104,357

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $5,942
• Equity at exit: $60,515

Cash invested: $195,972 (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 34698

• Rents YoY: 2.7%
• Active inventory: 481
• Price-to-rent: 34.0×

Monthly cashflow live

• Estimated rent: $7,006 high
• Mortgage (P&I): −$3,670
• Tax from tax record: −$733 /mo · $8,801/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,471
• Net cashflow: $839

Break-even live

Break-even rent $5,944

Max offer price $699,900

Occupancy floor 83%

Sensitivity live

Price	-10% $1,236	-5% $1,037	+0% $839	+5% $641	+10% $443
Rent	-10% $286	-5% $563	+0% $839	+5% $1,116	+10% $1,393
Rate	-1.0pp $1,192	-0.5pp $1,017	base $839	+0.5pp $658	+1.0pp $473

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1.0	1	$5,148
1× unit	2.0	2	$1,858
Total (4 units)			$7,006

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
946 Highland Ave Dunedin, FL	3.0	3.0	1970	$4,500	$2.28	5d	1	1.02mi
1281 Stony Brook Ln Dunedin, FL	3.0	2.0	2040	$2,600	$1.27	22d	1	1.19mi
341 Albert St Dunedin, FL	3.0	2.5	1770	$8,250	$4.66	25d	1	1.34mi
331 Albert St Dunedin, FL	4.0	3.5	2600	$12,000	$4.62	25d	1	1.34mi
228 President St Dunedin, FL	3.0	2.0	2700	$2,900	$1.07	5d	1	1.48mi

Listing history 23 events

1. 2026-06-18
   days on market $699,900 Active 100 DOM
2. 2026-06-17
   days on market $699,900 Active 99 DOM
3. 2026-06-16
   days on market $699,900 Active 98 DOM
4. 2026-06-15
   days on market $699,900 Active 97 DOM
5. 2026-06-13
   days on market $699,900 Active 95 DOM
6. 2026-06-09
   days on market $699,900 Active 91 DOM
7. 2026-06-08
   days on market $699,900 Active 90 DOM
8. 2026-06-07
   days on market $699,900 Active 89 DOM
9. 2026-06-04
   days on market $699,900 Active 86 DOM
10. 2026-06-03
    days on market $699,900 Active 85 DOM
11. 2026-06-01
    days on market $699,900 Active 83 DOM
12. 2026-05-31
    days on market $699,900 Active 82 DOM
13. 2026-04-30
    price $699,900
14. 2026-04-16
    price $729,000
15. 2026-04-03
    price $749,900
16. 2026-03-17
    price $759,900
17. 2026-03-17
    status Active
18. 2026-02-10
    status Pending
19. 2026-02-04
    listed $749,900 Active
20. 2023-06-06
    soldstatus $555,000 Closed 1009-char remark

    Show marketing remark (1009 chars)

    Investor Special! Multi Family Turnkey Investment Property With Tenants In Place. Don't miss this Location Location Location Opportunity Quadraplex available in DUNEDIN, Sunny Ridge Subdivision! All units have yearly leases, feature wall AC’s, kitchens, private entrances and mailboxes. Located in a quiet neighborhood on an oversized corner lot. Approx 1.5 miles to Downtown Dunedin. Lots of space Under Roof means Opportunity for "added value" rental growth, or remodel, and appreciation. Units feature open floor plans with lots of natural lighting and 3rd Party laundry facility onsite. 2 Carports with Ample Parking. New Roof 2013, Windows/Doors 2015, Gutters & Leaf Guards 2019. Easy access to shopping, fine dining, downtown Dunedin, Arts & entertainment, Hwy 19, Countryside Mall, pharmacies, groceries and only a short drive to the sandy beaches! Please DO NOT DISTURB tenants. Information and measurements believed accurate but not guaranteed and to be verified by buyer.

21. 2023-05-15
    status Pending 1009-char remark

    Show marketing remark (1009 chars)

    Investor Special! Multi Family Turnkey Investment Property With Tenants In Place. Don't miss this Location Location Location Opportunity Quadraplex available in DUNEDIN, Sunny Ridge Subdivision! All units have yearly leases, feature wall AC’s, kitchens, private entrances and mailboxes. Located in a quiet neighborhood on an oversized corner lot. Approx 1.5 miles to Downtown Dunedin. Lots of space Under Roof means Opportunity for "added value" rental growth, or remodel, and appreciation. Units feature open floor plans with lots of natural lighting and 3rd Party laundry facility onsite. 2 Carports with Ample Parking. New Roof 2013, Windows/Doors 2015, Gutters & Leaf Guards 2019. Easy access to shopping, fine dining, downtown Dunedin, Arts & entertainment, Hwy 19, Countryside Mall, pharmacies, groceries and only a short drive to the sandy beaches! Please DO NOT DISTURB tenants. Information and measurements believed accurate but not guaranteed and to be verified by buyer.

22. 2023-05-13
    listed $530,000 Active 1009-char remark

    Show marketing remark (1009 chars)

    Investor Special! Multi Family Turnkey Investment Property With Tenants In Place. Don't miss this Location Location Location Opportunity Quadraplex available in DUNEDIN, Sunny Ridge Subdivision! All units have yearly leases, feature wall AC’s, kitchens, private entrances and mailboxes. Located in a quiet neighborhood on an oversized corner lot. Approx 1.5 miles to Downtown Dunedin. Lots of space Under Roof means Opportunity for "added value" rental growth, or remodel, and appreciation. Units feature open floor plans with lots of natural lighting and 3rd Party laundry facility onsite. 2 Carports with Ample Parking. New Roof 2013, Windows/Doors 2015, Gutters & Leaf Guards 2019. Easy access to shopping, fine dining, downtown Dunedin, Arts & entertainment, Hwy 19, Countryside Mall, pharmacies, groceries and only a short drive to the sandy beaches! Please DO NOT DISTURB tenants. Information and measurements believed accurate but not guaranteed and to be verified by buyer.

23. 2007-05-18
    listed $395,000

ⓘ 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: $8,801 · $733/mo
• Projected year-2 tax: $8,801 · $733/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 · 27 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: $84,072
• − Mortgage interest: −$39,205
• − Property taxes: −$8,801
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,726
• − Management: −$6,726
• − Depreciation: −$20,361
• Taxable loss: −$1,246
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $10,371/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 — Dunedin

• Score: 86/100
• State rank: #15
• US rank: #411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunedin, FL
• County: Pinellas County · 939,478 people
• City population: 38,171
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 38,171
• Household income: $74,078
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 1390.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -515.66%
• Current HPI: 387.4694
• Rent YoY: ▲ 2.69%
• 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

+77.2% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $699,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $729,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $749,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $759,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-04 Listed $749,900 Stellar MLS as Distributed by MLS Grid
• 2023-06-06 Sold (MLS) $555,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-05-13 Listed $530,000 Stellar MLS as Distributed by MLS Grid
• 2007-05-18 Listed $395,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+13.0%/yr

Latest (2025): $8,801 · +7.7% YoY. Source: county tax records.