10511 116th Ter · Largo, FL 33773

$125,000

2 bd · 1.0 ba · 594 sqft · SingleFamily public records · 3 Days on market

Built 1960 4,003 sqft lot Est $239k · 48% under

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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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

* * MULTIPLE OFFERS RECEIVED. PLEASE SUBMIT HIGHEST AND BEST BY NOON ON WEDNESDAY, MAY 20TH * * * * CASH OFFERS ONLY * * NO BLIND OFFERS OR HARD MONEY LOANS. Unlock the potential of this solid block fixer-upper opportunity in desirable unincorporated Pinellas County! This 2-bedroom, 1-bath home offers incredible upside for investors, renovators, or buyers looking to create their dream space. Situated on a generously sized fenced lot with ample room for expansion, outdoor living, or future improvements, the possibilities are endless. Located in a non-evacuation zone and Flood Zone X for added peace of mind, this property is ideal as a flip, long-term rental, or personal residence. The

Key facts

• Non-evacuation zone
• Flood zone x
• Fenced lot

Tags

• FENCED LOT
• NON-EVACUATION ZONE
• FLOOD ZONE X
• UNINCORPORATED LARGO LOCATION
• FLEXIBLE RENTAL OPPORTUNITIES
• EASY ACCESS TO GULF BEACHES

Property features AI

Finance

• HOA & community: No HOA/association

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Broadband/high-speed internet available
• Home design: Single-family residence; Fixer condition; One story; South-facing entry
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built on a 50 x 80 lot (approximately 0.09 acres)
• Exterior features: Front porch; Exterior lighting; Private mailbox; Mature landscaping; Paved, publicly maintained road

Interior

• Kitchen: Range; Range hood
• Bedrooms: 2 bedrooms
• Flooring: Terrazzo
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating; Wall/window cooling units
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Outdoor laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.2% vs local median 4.2% in Largo — 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 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, 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 (-3.4%/yr); 119 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $864 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $125k implies a 194% 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 $125,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $238,788
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10595 118th Ave	0.09mi	2/1.0	585 (-2%)	6mo	$235,000	$402	88
11559 104th Ln	0.13mi	2/1.0	594 (0%)	16mo	$264,900	$446	81
12115 104th St	0.33mi	2/1.0	585 (-2%)	4mo	$244,000	$417	79
11073 106th St	0.38mi	2/1.0	594 (0%)	10mo	$228,000	$384	74
11234 103rd Ln	0.30mi	2/1.0	585 (-2%)	17mo	$251,000	$429	69
10243 114th Ter	0.26mi	2/1.0	639 (+8%)	12mo	$272,500	$426	65
10599 111th Ave N	0.35mi	2/1.0	660 (+11%)	11mo	$270,000	$409	56
10247 117th Ter	0.26mi	3/1.0 (+1)	671 (+13%)	8mo	$263,700	$393	55
11300 124th Ave #46	0.61mi	1/1.0 (-1)	588 (-1%)	15mo	$23,000	$39	52
11313 104th St	0.27mi	3/1.0 (+1)	671 (+13%)	13mo	$268,000	$399	50
12651 Seminole Blvd Unit 2O	0.61mi	2/1.5	672 (+13%)	17mo	$150,000	$223	34
12674 Seminole Blvd Unit S26	0.71mi	1/1.0 (-1)	538 (-9%)	16mo	$45,900	$85	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $710
• Equity at exit: $18,638

10-year hold

• IRR: 6.9%
• Equity multiple: 1.45×
• Total profit: $15,576
• Equity at exit: $10,808

Cash invested: $35,000 (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 33773

• Rents YoY: -3.4%
• Active inventory: 119
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $403

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 70%

Sensitivity live

Price	-10% $489	-5% $446	+0% $403	+5% $359	+10% $316
Rent	-10% $276	-5% $339	+0% $403	+5% $466	+10% $529
Rate	-1.0pp $466	-0.5pp $434	base $403	+0.5pp $370	+1.0pp $337

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10546 106th Ave N Unit a Largo, FL	1.0	1.0	624	$1,223	$1.96	25d	1	0.70mi
10165 106th Ter Unit 1 Largo, FL	1.0	1.0	624	$1,325	$2.12	25d	1	0.71mi
10464 106th Ave N Unit 2 Largo, FL	1.0	1.0	500	$1,250	$2.50	15d	1	0.71mi
10464 106th Ave N Unit 2 Largo, FL	1.0	1.0	500	$1,200	$2.40	25d	1	0.71mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	9d	1	1.24mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	3d	23	1.28mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $125,000 Active
3. 1994-12-12
   soldstatus $42,500
4. 1982-07-01
   soldstatus $34,600

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,237
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$3,636
• Taxable income: $3,020
• Est. tax owed @ 24.0%: −$725
• After-tax cash flow: $4,106/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 16,741
• Household income: $76,867
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 314.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 8% Hispanic / Latino 8% Asian 7% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 12% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · Spanish 5% Vietnamese 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: ▼ -367.92%
• Current HPI: 319.4536
• Rent YoY: ▼ -3.37%
• 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

+261.3% since first listed

4 events — show timeline

• 2026-05-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-18 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 1994-12-12 Sold (Public Records) $42,500 Public Records
• 1982-07-01 Sold (Public Records) $34,600 Public Records

Property tax history

-7.3%/yr

Latest (2025): $217 · +8.7% YoY. Source: county tax records.