10199 Sailwinds Blvd S #201 · Largo, FL 33773

$169,000

2 bd · 2.0 ba · 901 sqft · Condo public records · 266 Days on market

Built 1987 $477/mo HOA · 25% of rent

---

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 +14.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +4.4/10.0
• 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

Super Cute Turn-Key Condo in Bella Vista, Largo! Welcome home to this beautifully maintained 2 bedroom, 2 bathroom condo located in the highly desirable Bella Vista community in Largo! This move-in ready gem is full of charm and perfect for year-round living, a seasonal getaway, or even an investment property. Step inside to find a bright, open floor plan with tasteful updates throughout. The spacious living area flows seamlessly into a cozy dining space and a well-appointed kitchen with ample cabinet space. Both bedrooms are generously sized, and the primary suite features a private bath with walk in shower and walk-in closet. Enjoy your morning coffee or unwind in the evening on your p

Key facts

• Gated community
• Pet-friendly
• Community amenities

Tags

• PRIVATE SCREENED-IN BALCONY
• IN-UNIT LAUNDRY
• ASSIGNED PARKING
• COMMUNITY AMENITIES
• GATED COMMUNITY
• PET-FRIENDLY

Property features AI

Finance

• Financial info: Total annual fees: $5,724; Lease restrictions apply
• HOA & community: Monthly condo/association fee of $477 (includes pool and structure maintenance); Association approval required; Association: Resource Property Mgmt / Cindy Joyner; Community clubhouse and pool; Pets allowed: cats and dogs

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; One story; Faces east; Second-floor unit
• Construction: Block construction; Shingle roof; Slab foundation; Built as Building G
• Exterior features: Sidewalk; Tennis court(s); Paved road access

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room/dining room combo
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-27 ($-329/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (2.9% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.3% 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.
• Zoned schools: Fuguitt Elementary School (math 48% / reading 50%, grade D, #1,134 of 2,144 statewide, top 54%, 479 students, 68% FRL); Osceola Middle School (math 48% / reading 45%, grade D+, #297 of 571 statewide, top 52%, 1,009 students, 52% FRL); Richard O Jacobson Technical High School At Seminole (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 578 students, 45% FRL).
• Market conditions: Rents falling (-3.4%/yr); 119 active listings in the ZIP; 18 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 $1k of loan paydown is wiped out by about $5k 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 266 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $41k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,720 (12.0% 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 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
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: 1.14% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 7.3

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: -21.9%
• Equity multiple: 0.27×
• Total profit: $-34,497
• Equity at exit: $25,198

10-year hold

• IRR: -30.3%
• Equity multiple: -0.12×
• Total profit: $-52,974
• Equity at exit: $14,612

Cash invested: $47,320 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,920 high
• Mortgage (P&I): −$886
• Tax from tax record: −$44 /mo · $527/yr
• Insurance: −$70
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$477
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-27

Break-even live

Break-even rent $1,954

Max offer price $164,157

Occupancy floor 96%

Sensitivity live

Price	-10% $68	-5% $20	+0% $-27	+5% $-75	+10% $-123
Rent	-10% $-179	-5% $-103	+0% $-27	+5% $48	+10% $124
Rate	-1.0pp $58	-0.5pp $16	base $-27	+0.5pp $-71	+1.0pp $-116

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,695	$1.67	0d	1	0.07mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	26d	2	0.07mi
10568 117th Dr Largo, FL	3.0	2.0	1118	$2,400	$2.15	0d	1	0.35mi
10580 112th Ave Largo, FL	3.0	1.0	925	$1,995	$2.16	6d	1	0.50mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	26d	1	0.54mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	26d	1	0.67mi
11290 109th Ln Largo, FL	2.0	1.0	988	$1,995	$2.02	26d	1	0.69mi
10165 106th Ter Unit 1 Largo, FL	1.0	1.0	624	$1,325	$2.12	26d	1	0.69mi
10546 106th Ave N Unit a Largo, FL	1.0	1.0	624	$1,223	$1.96	26d	1	0.83mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,150	$2.48	0d	2	0.92mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	22d	1	1.04mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	26d	1	1.04mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	4d	23	1.32mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	26d	1	1.35mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	9d	1	1.39mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	26d	1	1.41mi
11013 Temple Ave Seminole, FL	3.0	1.0	951	$2,050	$2.16	6d	1	1.49mi
13250 Ridge Rd Largo, FL	2.0–3.0	2.0	1167	$1,975	$1.69	0d	2	1.49mi

HOA detail condo

• Monthly dues: $477 · $5,724/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-22
   days on market $169,000 Active 266 DOM
2. 2026-06-18
   days on market $169,000 Active 263 DOM
3. 2026-06-17
   days on market $169,000 Active 262 DOM
4. 2026-06-16
   days on market $169,000 Active 261 DOM
5. 2026-06-15
   days on market $169,000 Active 260 DOM
6. 2026-06-13
   days on market $169,000 Active 258 DOM
7. 2026-06-09
   days on market $169,000 Active 254 DOM
8. 2026-06-08
   days on market $169,000 Active 253 DOM
9. 2026-06-07
   days on market $169,000 Active 252 DOM
10. 2026-06-04
    days on market $169,000 Active 249 DOM
11. 2026-06-03
    days on market $169,000 Active 248 DOM
12. 2026-06-01
    days on market $169,000 Active 246 DOM
13. 2026-05-31
    days on market $169,000 Active 245 DOM
14. 2026-04-03
    price $169,000
15. 2026-03-26
    status Active
16. 2026-03-25
    historical
17. 2026-02-07
    price $179,000
18. 2026-01-10
    price $189,000
19. 2025-10-27
    price $199,000
20. 2025-09-27
    listed $210,000 Active
21. 2006-04-20
    soldstatus $169,000

ⓘ 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: $527 · $44/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$876/yr (+$73/mo · 166.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 21 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: $23,037
• − Mortgage interest: −$9,467
• − Property taxes: −$527
• − Insurance: −$1,642
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − HOA: −$5,724
• − Depreciation: −$4,916
• Taxable loss: −$2,925
• Est. tax savings @ 24.0%: +$702
• After-tax cash flow: $373/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: 42,315
• 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

+0.0% since first listed

8 events — show timeline

• 2026-04-03 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-07 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-10 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-27 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2006-04-20 Sold (Public Records) $169,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $527 · +6.5% YoY. Source: county tax records.