1604 Omaha St · Palm Harbor, FL 34683

$175,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 30 Days on market

Built 1900 6,264 sqft lot

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Here is your chance to build a new home in downtown Palm Harbor and enjoy the golf cart city life! The lot is 62x100. The house is a tear down, selling for land value only. Buyer is waiving house inspection.

Key facts

• 6,264 sq ft lot
• Pool
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.1% in Palm Harbor — 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 81/100 on livability (#95 in FL, #1,470 nationally) — a professional / high-income tenant draw. Strengths: housing A+, commute A, crime A-; Watch: 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: Safety Harbor Elementary School (math 63% / reading 66%, grade B, #525 of 2,144 statewide, top 26%, 657 students, 49% FRL); Palm Harbor Middle School (math 59% / reading 57%, grade B, #151 of 571 statewide, top 27%, 1,080 students, 37% FRL); Palm Harbor University High (math 54% / reading 72%, grade B-, #89 of 667 statewide, top 14%, 2,474 students, 26% FRL).
• Market conditions: Rents falling (-4.3%/yr); 391 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 30 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; list at $175k implies a 404% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.94%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $361,152
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1604 Omaha St	0.00mi	2/2.0	1,056 (0%)	0mo	$130,000	$123	100
1215 New York Ave	0.03mi	2/1.0	992 (-6%)	8mo	$205,000	$207	78
1479 Indiana Ave	0.27mi	3/2.0 (+1)	1,107 (+5%)	0mo	$415,000	$375	74
1341 New York Ave	0.08mi	2/1.0	920 (-13%)	4mo	$234,900	$255	68
1300 14th St	0.22mi	3/2.0 (+1)	1,153 (+9%)	6mo	$405,000	$351	64
1408 Michigan Ave	0.49mi	3/1.0 (+1)	1,052 (-0%)	12mo	$360,000	$342	58
1330 14th St	0.21mi	2/2.0	928 (-12%)	22mo	$364,000	$392	52

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-18,498
• Equity at exit: $26,093

10-year hold

• IRR: -6.6%
• Equity multiple: 0.64×
• Total profit: $-17,819
• Equity at exit: $15,131

Cash invested: $49,000 (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 34683

• Rents YoY: -4.3%
• Active inventory: 391
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$918
• Tax from tax record: −$296 /mo · $3,552/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $243

Break-even live

Break-even rent $1,629

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $342	-5% $292	+0% $243	+5% $193	+10% $144
Rent	-10% $90	-5% $166	+0% $243	+5% $319	+10% $396
Rate	-1.0pp $331	-0.5pp $287	base $243	+0.5pp $197	+1.0pp $151

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1833 Orange Boulevard Way Palm Harbor, FL	2.0	2.0	1000	$1,950	$1.95	4d	1	0.21mi
1851 Orange Boulevard Way Palm Harbor, FL	2.0	2.0	1000	$1,750	$1.75	26d	1	0.22mi
1825 Orange Boulevard Way Palm Harbor, FL	2.0	2.0	1000	$1,950	$1.95	13d	1	0.22mi
1865 Orange Boulevard Way Palm Harbor, FL	2.0	2.0	1000	$1,950	$1.95	26d	1	0.26mi
1328 Illinois Ave Palm Harbor, FL	2.0	1.5	1000	$1,700	$1.70	26d	1	0.61mi
455 Alt 19 S #54 Palm Harbor, FL	2.0	2.0	898	$1,600	$1.78	5d	1	0.87mi
455 Alt 19 S #87 Palm Harbor, FL	2.0	2.0	898	$1,600	$1.78	26d	1	0.87mi
455 Alt 19 S #65 Palm Harbor, FL	1.0	1.0	705	$1,425	$2.02	26d	1	0.87mi
455 Alt 19 S #123 Palm Harbor, FL	2.0	2.0	898	$1,700	$1.89	26d	1	0.87mi
455 Alt 19 S #214 Palm Harbor, FL	1.0	1.0	705	$1,650	$2.34	26d	1	0.87mi
802 Woodhill Ct Palm Harbor, FL	3.0	2.0	1428	$5,000	$3.50	26d	1	1.00mi
182 Margie St Palm Harbor, FL	2.0	1.0	800	$1,495	$1.87	26d	1	1.03mi
514 Ulelah Ave Palm Harbor, FL	2.0	1.0	816	$2,300	$2.82	13d	1	1.14mi
514 Ulelah Ave Palm Harbor, FL	2.0	1.0	816	$2,300	$2.82	6d	1	1.14mi
508 Ulelah Ave Palm Harbor, FL	3.0	2.0	1408	$2,700	$1.92	6d	1	1.17mi
2334 Citrus Hill Rd Palm Harbor, FL	2.0	2.0	1189	$2,350	$1.98	5d	1	1.25mi
1691 E Orangecrest Ave Palm Harbor, FL	2.0	2.0	1193	$2,600	$2.18	18d	1	1.35mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,850	$1.80	5d	1	1.36mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,860	$1.81	9d	1	1.36mi
2945 Grovewood Blvd Unit A Palm Harbor, FL	2.0	2.0	1030	$1,775	$1.72	19d	1	1.39mi
1801 E Orangeside Rd Palm Harbor, FL	3.0	2.0	1369	$2,575	$1.88	25d	1	1.40mi
333 Lagoon Dr Unit 5 Palm Harbor, FL	2.0	1.0	811	$1,550	$1.91	19d	1	1.43mi

Listing history 5 events

1. 2026-03-13
   status Pending
2. 2026-02-20
   status Active
3. 2026-01-29
   status Pending
4. 2026-01-20
   listed $175,000 Active
5. 1989-04-17
   soldstatus $34,700

ⓘ 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: $3,552 · $296/mo
• Projected year-2 tax: $3,552 · $296/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 ≥108°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,230
• − Mortgage interest: −$9,803
• − Property taxes: −$3,552
• − Insurance: −$875
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$5,091
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $2,866/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 — Palm Harbor

• Score: 81/100
• State rank: #95
• US rank: #1470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 79,072
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 33,911
• Household income: $92,885
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 919.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, China, Dominican Republic
• Languages at home: 83% English-only · Spanish 5% Arabic 4% Russian/Polish/Slavic 3%

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: ▼ -295.95%
• Current HPI: 314.8777
• Rent YoY: ▼ -4.33%
• 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

+404.3% since first listed

5 events — show timeline

• 2026-03-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 1989-04-17 Sold (Public Records) $34,700 Public Records

Property tax history

+8.7%/yr

Latest (2025): $3,552 · +7.5% YoY. Source: county tax records.