1034 Bowsprit Ln · Holiday, FL 34691

$120,000

2 bd · 2.0 ba · 1,114 sqft · Condo public records · 515 Days on market

Built 1985 $529/mo HOA · 32% of rent

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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 +11.0/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Auction Property. Welcome to Holiday Lake Condos and enjoy peaceful water views right from your own living room! This well-maintained GROUND FLOOR unit features an open floor plan with plenty of natural light. Galley kitchen with eat-in space. Inside utility closet. Living room. Separate dining room. Bonus Florida room with wonderful views of the pond. Split bedroom plan. Master suite is quite large with full master bathroom. Bedroom #2 is adjacent to bathroom #2 for privacy. The community offers a relaxing atmosphere complete with a pool, clubhouse, shuffleboard courts, and a recreational facility! Whether you're looking for a vacation home or a year-round residence, this condo provides th

Key facts

• Open floor plan
• Ground floor unit
• Shuffleboard courts

Tags

• GROUND FLOOR UNIT
• OPEN FLOOR PLAN
• POOL
• CLUBHOUSE
• SHUFFLEBOARD COURTS
• RECREATIONAL FACILITY

Property features AI

Finance

• Financial info: Total annual association fees: $6,348; Lease restrictions apply
• HOA & community: Association: Holiday Lake Villas; Monthly condo/association fee of $529 (includes cable TV, common area taxes, pool, escrow reserves, internet, structure and grounds maintenance, private road, recreational facilities, sewer, trash and water); Buyer approval required; Deed restrictions; No truck/RV/motorcycle parking; Pool; Sidewalks; Senior community; Pets allowed with number limit

Exterior

• Parking: Covered parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Internet available
• Home design: Condominium; One level; West-facing; Residential property
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of Holiday Lake Villas (Building 13)
• Exterior features: Rain gutters; Sidewalk; Landscaped grounds; Level lot; Paved surfaces

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-51 ($-617/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.6% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 4.5% in Holiday — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#623 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D+, amenities F, commute F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gulfside Elementary School (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 389 students, 90% FRL); Paul R. Smith Middle School (math 32% / reading 38%, grade F, #416 of 571 statewide, top 74%, 994 students, 82% FRL); Anclote High School (math 28% / reading 38%, grade F, #406 of 667 statewide, top 61%, 1,205 students, 77% FRL) — zoned schools average 83% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 51% district-wide (-18 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.0%/yr); 329 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 515 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: moderate flood risk; 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 $105,600 (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 515 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
10. 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.
11. 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.
12. 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: 1.40% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.29×
• Total profit: $-23,947
• Equity at exit: $17,892

10-year hold

• IRR: -17.2%
• Equity multiple: 0.11×
• Total profit: $-29,994
• Equity at exit: $10,375

Cash invested: $33,600 (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 34691

• Home prices YoY: -23.9%
• Rents YoY: 2.0%
• Active inventory: 329
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$629
• Tax from tax record: −$168 /mo · $2,015/yr
• Insurance: −$50
• HOA: −$529
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-51

Break-even live

Break-even rent $1,742

Max offer price $110,916

Occupancy floor 98%

Sensitivity live

Price	-10% $17	-5% $-17	+0% $-51	+5% $-85	+10% $-119
Rent	-10% $-184	-5% $-118	+0% $-51	+5% $15	+10% $81
Rate	-1.0pp $9	-0.5pp $-21	base $-51	+0.5pp $-83	+1.0pp $-114

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3838 Staysail Ln Unit 3838 Holiday, FL	2.0	1.0	1114	$1,500	$1.35	26d	1	0.12mi
3530 Oxford Dr Holiday, FL	2.0	1.5	1080	$1,495	$1.38	23d	1	0.22mi
3623 Holiday Lake Dr Holiday, FL	3.0	1.0	1004	$1,525	$1.52	26d	1	0.23mi
3531 Rosewater Dr Holiday, FL	2.0	2.0	907	$1,795	$1.98	26d	1	0.26mi
477 Sevilla Ave Tarpon Springs, FL	3.0	2.0	1141	$2,150	$1.88	3d	1	0.38mi
477 Sevilla Ave Tarpon Springs, FL	3.0	2.0	1141	$2,150	$1.88	0d	1	0.38mi
1132 Maybury Dr Holiday, FL	3.0	2.0	1173	$1,838	$1.57	3d	1	0.40mi
1051 Maybury Dr Holiday, FL	3.0	2.0	1021	$1,695	$1.66	23d	1	0.41mi
3433 Atlantis Dr Holiday, FL	2.0	1.0	1024	$1,500	$1.46	26d	1	0.55mi
1024 Solar Dr Holiday, FL	3.0	2.0	1024	$1,500	$1.46	26d	1	0.55mi
1624 Springdale Dr Holiday, FL	2.0	1.0	1000	$1,575	$1.57	7d	1	0.65mi
1024 Hilton Ln Holiday, FL	3.0	2.0	1320	$1,549	$1.17	26d	1	0.68mi
3104 Primrose Dr Holiday, FL	2.0	2.0	1226	$1,640	$1.34	26d	1	0.69mi
3054 Primrose Dr Holiday, FL	2.0	1.0	976	$1,500	$1.54	7d	1	0.70mi
1018 Dartmouth Dr Holiday, FL	2.0	2.0	1019	$1,495	$1.47	26d	1	0.72mi
1351 Whitehall Ln Holiday, FL	2.0	1.0	1078	$1,550	$1.44	26d	1	0.74mi
1440 Brixton Ln Holiday, FL	2.0	1.0	952	$1,707	$1.79	26d	1	0.79mi
1301 Mandarin Dr Holiday, FL	2.0	1.0	872	$1,699	$1.95	26d	1	0.89mi
3143 Pinon Dr Holiday, FL	2.0	2.0	1034	$1,695	$1.64	23d	1	0.89mi
360 Jeru Blvd Tarpon Springs, FL	3.0	2.0	1439	$1,899	$1.32	16d	1	1.03mi
3405 Wilson Dr Holiday, FL	2.0	1.0	861	$1,650	$1.92	26d	1	1.05mi
1050 Clairborne St Holiday, FL	3.0	1.0	1176	$1,825	$1.55	7d	1	1.06mi
1050 Clairborne St Holiday, FL	2.0	1.0	1176	$1,825	$1.55	26d	1	1.06mi
1130 Powersong St Holiday, FL	2.0	1.0	864	$1,800	$2.08	26d	1	1.11mi
1130 Powersong St Holiday, FL	2.0	1.0	864	$1,800	$2.08	16d	1	1.11mi
1301 Greenlea Dr Holiday, FL	2.0	1.0	872	$1,700	$1.95	26d	1	1.11mi
2051 Pleasure Dr Holiday, FL	2.0	1.0	720	$1,200	$1.67	26d	1	1.11mi
4836 Flora Ave Holiday, FL	2.0	2.0	1113	$1,445	$1.30	26d	1	1.12mi
3521 Allandale Dr Holiday, FL	2.0	2.0	1368	$1,800	$1.32	26d	1	1.14mi
1552 Alert St Holiday, FL	3.0	1.0	956	$2,100	$2.20	7d	1	1.19mi
3711 Redwood Dr Holiday, FL	3.0	2.0	1368	$1,795	$1.31	1d	1	1.21mi
1254 Firecreek Ct Holiday, FL	3.0	1.0	1129	$1,500	$1.33	3d	1	1.22mi
2132 Kepner Dr Holiday, FL	2.0	1.0	920	$1,295	$1.41	22d	1	1.23mi
3749 Beechwood Dr Holiday, FL	2.0	1.0	1012	$1,623	$1.60	1d	1	1.25mi
4334 Tahitian Gardens Cir Unit C Holiday, FL	2.0	1.0	768	$1,450	$1.89	26d	1	1.29mi
3446 Cincinnati Dr Holiday, FL	3.0	2.0	1216	$1,906	$1.57	7d	1	1.29mi
3513 Trask Dr Holiday, FL	2.0	1.5	1000	$1,249	$1.25	26d	1	1.35mi
4337 Tahitian Gardens Cir Unit F Holiday, FL	2.0	1.0	768	$1,500	$1.95	26d	1	1.35mi
2117 Calusa Trl Holiday, FL	2.0	1.0	1205	$1,595	$1.32	0d	1	1.37mi
4326 Tahitian Gardens Cir Unit 14E Holiday, FL	2.0	1.5	768	$2,000	$2.60	26d	1	1.37mi

HOA detail condo

• Monthly dues: $529 · $6,348/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $120,000 Active 515 DOM
2. 2026-06-17
   days on market $120,000 Active 514 DOM
3. 2026-06-16
   days on market $120,000 Active 513 DOM
4. 2026-06-15
   days on market $120,000 Active 512 DOM
5. 2026-06-13
   days on market $120,000 Active 510 DOM
6. 2026-06-09
   days on market $120,000 Active 506 DOM
7. 2026-06-08
   days on market $120,000 Active 505 DOM
8. 2026-06-07
   days on market $120,000 Active 504 DOM
9. 2026-06-04
   days on market $120,000 Active 501 DOM
10. 2026-06-03
    days on market $120,000 Active 500 DOM
11. 2026-06-02
    days on market $120,000 Active 499 DOM
12. 2026-06-01
    days on market $120,000 Active 498 DOM
13. 2026-05-31
    days on market $120,000 Active 497 DOM
14. 2026-05-20
    price $120,000
15. 2026-02-24
    price $125,000
16. 2025-11-04
    price $140,000
17. 2025-10-13
    status Active
18. 2025-10-12
    historical
19. 2025-07-31
    price $135,000
20. 2025-06-13
    price $145,000
21. 2025-03-20
    price $155,000
22. 2025-02-19
    price $160,000
23. 2025-01-18
    listed $170,000 Active
24. 2002-04-12
    soldstatus $59,900

ⓘ 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: $2,015 · $168/mo
• Projected year-2 tax: $2,015 · $168/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,123
• − Mortgage interest: −$6,722
• − Property taxes: −$2,015
• − Insurance: −$600
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$6,348
• − Depreciation: −$3,491
• Taxable loss: −$2,272
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $-72/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: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Holiday

• Score: 66/100
• State rank: #623
• US rank: #12124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holiday, FL
• County: Pasco County · 524,098 people
• City population: 33,730
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,232
• Household income: $50,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 1031.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 11% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Iranian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 1%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.84%
• Current HPI: 326.9843
• Rent YoY: ▲ 2.05%
• 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

+100.3% since first listed

11 events — show timeline

• 2026-05-20 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-24 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-13 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-10-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-31 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-19 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-18 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2002-04-12 Sold (Public Records) $59,900 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,015 · +1.6% YoY. Source: county tax records.