972 Cedarwood Ave · Dunedin, FL 34698

$225,000

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 34 Days on market

Built 1963 6,190 sqft lot Est $194k · 16% over

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Why this score? — see what drove the F 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 +12.7/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. INVESTORS/FLIPPERS OR COME MAKE YOUR DREAM HOME, A VERY RARE AND UNIQUE PROPERTY ON LARGE CORNER LOT, 2 BEDROOM 1 BATH WITH CARPORT, FENCED BACK AND SIDE YARD TO PARK YOUR BOAT OR TRAILER, INSIDE LAUNDRY/STORAGE ROOM, GAS WATER HEATER, ROOF REDONE IN 2016, CLOSE TO ALL THE FUN OF DOWNTOWN DUNEDIN AND NOW EVEN DUNEDIN PLAYGROUND, THE RESTORATIVE, AROUND THE CORNER FROM DUNEDIN LANES, YOU NAME IT THIS IS IT. BRING YOUR GOLF CART AND ENJOY THE DUNEDIN LIFESTYLE THAT SO MANY ARE WAITING FOR!

Key facts

• Gas water heater
• Large corner lot
• Roof redone

Tags

• LARGE CORNER LOT
• FENCED BACK AND SIDE YARD
• INSIDE LAUNDRY STORAGE ROOM
• GAS WATER HEATER
• ROOF REDONE

Property features AI

Finance

• Other: Unfurnished; Living area about 744 sq ft (public records); Building area total about 1,059 sq ft (public records); Corner directions: Patricia Ave, east on Cedarwood Ave
• HOA & community: No association indicated

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single family residence; Residential property; Fixer condition; One story; Faces east; Entry level: One
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built on lot approximately 0.14 acres (60 x 70)
• Exterior features: Private mailbox; Corner lot; City limits; Oversized lot; Street dead-end; Asphalt road

Interior

• Kitchen: Range; Microwave; Gas water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Inside utility
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-26 ($-313/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (15.7% below list).
• Recommended offer: $190k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: Rents rising (+2.7%/yr); 478 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 31% of the median local income ($74k/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 $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

• It's been on market 34 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $34k; list at $225k implies a 562% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,671 (15.7% 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 34 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $194,184
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
854 Sky Loch Dr N	0.38mi	1/1.0 (-1)	758 (+2%)	1mo	$197,500	$261	73
1126 Tarridon Ct	0.16mi	1/1.0 (-1)	712 (-4%)	11mo	$150,000	$211	71
1104 Castlemay Cir	0.20mi	2/1.0	730 (-2%)	23mo	$157,500	$216	69
1102 Montrose Pl #1704	0.08mi	1/1.0 (-1)	660 (-11%)	14mo	$180,000	$273	61
845 Sky Loch Dr S	0.50mi	1/1.5 (-1)	734 (-1%)	22mo	$167,500	$228	49
843 Eden Ct	0.58mi	1/1.0 (-1)	739 (-1%)	22mo	$150,000	$203	49
753 Wilkie St	0.57mi	2/1.0	812 (+9%)	14mo	$425,000	$523	46
809 Scotland St	0.56mi	2/1.0	833 (+12%)	11mo	$325,000	$390	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-38,702
• Equity at exit: $33,548

10-year hold

• IRR: -10.1%
• Equity multiple: 0.39×
• Total profit: $-38,205
• 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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$251 /mo · $3,010/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-26

Break-even live

Break-even rent $1,930

Max offer price $220,390

Occupancy floor 96%

Sensitivity live

Price	-10% $101	-5% $38	+0% $-26	+5% $-90	+10% $-153
Rent	-10% $-176	-5% $-101	+0% $-26	+5% $49	+10% $124
Rate	-1.0pp $87	-0.5pp $31	base $-26	+0.5pp $-84	+1.0pp $-144

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 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	4d	12	0.27mi
885 Beltrees St #12 Dunedin, FL	1.0	1.0	550	$1,350	$2.45	25d	1	0.36mi
152 Macalpine Way Dunedin, FL	1.0–3.0	1.0–2.5	943	$2,084	$2.21	2d	42	0.36mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	8d	2	0.59mi
1420 Oak Hill Dr #104 Dunedin, FL	1.0	1.0	610	$1,600	$2.62	25d	1	0.65mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	2d	9	0.68mi
616 Dogwood Ct Dunedin, FL	1.0	1.0	551	$1,700	$3.09	5d	1	0.72mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	25d	1	0.73mi
905 Patricia Ave Dunedin, FL	1.0	1.0	550	$1,800	$3.27	25d	1	0.73mi
612 Dogwood Ct Dunedin, FL	1.0	1.0	550	$1,350	$2.45	5d	1	0.73mi
607 Lyndhurst St Unit 607 Dunedin, FL	2.0	1.0	677	$2,250	$3.32	25d	1	0.75mi
417 Milwaukee Ave Dunedin, FL	2.0	1.0	650	$1,850	$2.85	5d	1	0.77mi
2099 Kings Hwy #1 Clearwater, FL	1.0	1.0	686	$1,450	$2.11	8d	1	0.80mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	5d	1	0.89mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	5d	1	1.01mi
602 Skinner Blvd Dunedin, FL	1.0	1.5	448	$2,750	$6.14	25d	1	1.04mi
600 Douglas Ave Unit 340 Dunedin, FL	1.0	1.0	550	$1,695	$3.08	25d	1	1.06mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	25d	1	1.06mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	2d	6	1.08mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	8d	1	1.16mi
1820 Sunset Point Rd Clearwater, FL	1.0–3.0	1.0–2.0	918	$1,668	$1.82	2d	17	1.19mi
416 Skinner Blvd Unit B Dunedin, FL	1.0	1.0	620	$1,795	$2.90	25d	1	1.22mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	5d	1	1.31mi
632 Edgewater Dr #537 Dunedin, FL	1.0	1.0	695	$2,300	$3.31	25d	1	1.36mi
1799 N Highland Ave #74 Clearwater, FL	1.0	1.0	571	$1,195	$2.09	25d	1	1.40mi

Listing history 3 events

1. 2026-05-04
   status Pending
2. 2026-03-31
   listed $225,000 Active
3. 1987-07-08
   soldstatus $34,000

ⓘ 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: $3,010 · $251/mo
• Projected year-2 tax: $3,010 · $251/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: $22,761
• − Mortgage interest: −$12,603
• − Property taxes: −$3,010
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$6,545
• Taxable loss: −$4,165
• Est. tax savings @ 24.0%: +$1,000
• After-tax cash flow: $686/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

+561.8% since first listed

3 events — show timeline

• 2026-05-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 1987-07-08 Sold (Public Records) $34,000 Public Records

Property tax history

+9.9%/yr

Latest (2025): $3,010 · +12.3% YoY. Source: county tax records.