132 Forest Ln #6 · Safety Harbor, FL 34695

$149,900

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 7 Days on market

Built 1981 4,360 sqft lot Est $139k · 8% over $250/mo HOA · 13% of rent

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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 +24.3/30.0
• DSCR +7.8/10.0
• 1% rule +7.4/10.0
• Livability +4.4/5.0
• Rent growth +4.3/5.0
• Schools +4.3/10.0
• ARV discount +4.0/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

Key facts

• Open floor plan
• Covered carport
• Fee simple

Tags

• FEE SIMPLE
• OPEN FLOOR PLAN
• COVERED CARPORT
• MASSIVE STORAGE AREA
• NEWER LAMINATE FLOORS
• FLORIDA ROOM

Property features AI

Finance

• Other: Unfurnished; Annual taxes listed (not included per instructions)
• Financial info: Lease restrictions apply
• HOA & community: Ameritech HOA with required monthly fee of $250; HOA covers pool, grounds maintenance, private road, recreational facilities, sewer, trash and water; Buyer approval required; Association approval required; Community fitness center and pool; Senior community; Pets allowed (cats and dogs), max pet weight 25 lbs

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity available; Cable available; Broadband/high-speed internet available
• Home design: Manufactured home (double wide); One level; North-facing
• Construction: Vinyl siding; Membrane and metal roof; Pillar/post/pier foundation; Built on a 0.1-acre lot (approx. 56 x 75)
• Exterior features: Covered, enclosed front porch; Sliding doors; Sidewalks; Paved surfaces; Asphalt road

Interior

• Kitchen: Dishwasher; Disposal; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Open floorplan; Dining area; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.7% vs local median 2.7% in Safety 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 87/100 on livability (#8 in FL, #296 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment 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: Curlew Creek Elementary School (math 67% / reading 63%, grade B+, #514 of 2,144 statewide, top 24%, 634 students, 43% FRL); Countryside High School (math 25% / reading 45%, grade F, #379 of 667 statewide, top 58%, 1,741 students, 44% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 168 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y ago 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 $109k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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: 1.24% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.62%
• DSCR: 1.38
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $139,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Thistle Briar Dr #52	0.18mi	2/2.0	1,056 (+10%)	9mo	$140,000	$133	68
33 New Fawn Ct #23	0.33mi	2/2.0	864 (-10%)	8mo	$125,000	$145	61
70 Live Oak Ct #21	0.34mi	2/2.0	1,100 (+15%)	8mo	$115,000	$105	54
43 New Fawn Ct #28	0.38mi	2/2.0	1,104 (+15%)	17mo	$179,000	$162	43

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 · 7.34% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,516
• Equity at exit: $22,351

10-year hold

• IRR: 15.9%
• Equity multiple: 2.58×
• Total profit: $66,379
• Equity at exit: $12,961

Cash invested: $41,972 (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 34695

• Home prices YoY: -30.2%
• Rents YoY: 7.3%
• Active inventory: 168
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$786
• Tax from tax record: −$73 /mo · $879/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $301

Break-even live

Break-even rent $1,483

Max offer price $149,900

Occupancy floor 79%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Magnolia Ct #4 Safety Harbor, FL	2.0	2.0	864	$1,450	$1.68	18d	1	0.43mi
2955 Bay View Dr Safety Harbor, FL	2.0	1.0	1047	$2,150	$2.05	24d	1	0.58mi
2941 Shore Dr Safety Harbor, FL	2.0	1.0	1055	$1,825	$1.73	4d	1	0.64mi
116 Dolphin Dr S Oldsmar, FL	2.0	2.0	1090	$2,550	$2.34	13d	1	0.78mi
3640 Meriden Ave Unit 3 Oldsmar, FL	2.0	1.0	980	$1,575	$1.61	13d	1	0.81mi
3664 Meriden Ave Unit A Oldsmar, FL	2.0	2.0	970	$1,795	$1.85	24d	1	0.86mi
225 Tarpon Ln Oldsmar, FL	2.0	2.0	1120	$2,400	$2.14	4d	1	0.87mi
3141 Huron Ave Unit B Oldsmar, FL	3.0	2.0	1089	$1,875	$1.72	24d	1	0.90mi
86 Pelican Dr N Oldsmar, FL	2.0	2.0	864	$1,450	$1.68	24d	1	0.92mi
1 Pelican Dr N Oldsmar, FL	2.0	2.0	960	$2,000	$2.08	11d	1	0.94mi
100 Old Village Way Oldsmar, FL	1.0–3.0	1.0–2.0	1070	$1,475	$1.38	2d	9	1.19mi
47 Emerald Bay Dr Oldsmar, FL	2.0	1.5	1100	$1,750	$1.59	24d	1	1.22mi
2652 N McMullen Booth Rd Clearwater, FL	1.0–3.0	1.0–2.0	1037	$1,698	$1.64	2d	15	1.31mi
3455 Countryside Blvd #4 Clearwater, FL	3.0	2.0	995	$2,050	$2.06	4d	1	1.37mi
3062 Eastland Blvd Unit D11 Clearwater, FL	1.0	1.0	920	$1,695	$1.84	24d	1	1.39mi
3038 Eastland Blvd Unit F101 Clearwater, FL	2.0	2.0	1030	$1,775	$1.72	4d	1	1.42mi
108 Nina Way #3 Oldsmar, FL	2.0	2.0	1094	$1,695	$1.55	24d	1	1.45mi
3034 Eastland Blvd Clearwater, FL	1.0	1.0	720	$1,500	$2.08	24d	1	1.45mi
3048 Eastland Blvd Unit C105 Clearwater, FL	1.0	1.0	750	$1,525	$2.03	24d	1	1.45mi
3042 Eastland Blvd Unit H110 Clearwater, FL	2.0	2.0	1030	$1,700	$1.65	24d	1	1.47mi
161 Lakeside Dr Oldsmar, FL	2.0	2.0	1094	$2,000	$1.83	18d	1	1.48mi
133 Sabal Ct Unit B Oldsmar, FL	3.0	2.0	1000	$1,650	$1.65	15d	1	1.49mi
133 Sabal Ct Oldsmar, FL	2.0–3.0	2.0	957	$1,495	$1.56	24d	2	1.49mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: watersewertrashpoolgym

Listing history 15 events

1. 2026-06-07
   status $149,900 Pending 7 DOM
2. 2026-06-04
   days on market $149,900 Active 7 DOM
3. 2026-06-03
   days on market $149,900 Active 6 DOM
4. 2026-06-02
   days on market $149,900 Active 5 DOM
5. 2026-06-01
   days on market $149,900 Active 4 DOM
6. 2026-05-31
   days on market $149,900 Active 3 DOM
7. 2026-05-28
   listed $149,900 Active
8. 2020-11-20
   soldstatus $109,000
9. 2020-11-19
   soldstatus $109,000 Sold 576-char remark

   Show marketing remark (576 chars)

   2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

10. 2020-10-24
    status Pending 576-char remark

    Show marketing remark (576 chars)

    2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

11. 2020-10-23
    status Active 576-char remark

    Show marketing remark (576 chars)

    2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

12. 2020-10-18
    status Pending 576-char remark

    Show marketing remark (576 chars)

    2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

13. 2020-10-14
    listed $109,000 Active 576-char remark

    Show marketing remark (576 chars)

    2 bedroom 2 bath in the section that allows a cat or a dog up to 25 pounds. Newer wood cabinets and most appliances. Water heater approximately one year. This well cared for home is a real joy with lovely neighbors in a super friendly community. The deeded lot 56X75 is included in the price. It is not in a flood zone. The maintenance fee is $181/Month and includes water, sewer, trash, lawn, maintenance on the private roads, clubhouse, heated pool & spa, gym, bocce ball, shuffleboard, and a lot where you can park your RV or your boat. Room measurements approximate.

14. 1983-04-01
    soldstatus $47,500
15. 1981-04-01
    soldstatus $9,250

ⓘ 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: $879 · $73/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$365/yr (+$30/mo · 41.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 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: $22,377
• − Mortgage interest: −$8,397
• − Property taxes: −$879
• − Insurance: −$750
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − HOA: −$3,000
• − Depreciation: −$4,361
• Taxable income: $1,411
• Est. tax owed @ 24.0%: −$339
• After-tax cash flow: $3,278/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 — Safety Harbor

• Score: 87/100
• State rank: #8
• US rank: #296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Safety Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 18,098
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 18,098
• Household income: $95,238
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 103.0

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% Hispanic / Latino 11% Black 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -144.72%
• Current HPI: 335.0437
• Rent YoY: ▲ 7.34%
• 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

+1520.5% since first listed

9 events — show timeline

• 2026-05-28 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2020-11-20 Sold (Public Records) $109,000 Public Records
• 2020-11-19 Sold (MLS) $109,000 Stellar MLS as Distributed by MLS Grid
• 2020-10-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-10-23 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-10-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-10-14 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 1983-04-01 Sold (Public Records) $47,500 Public Records
• 1981-04-01 Sold (Public Records) $9,250 Public Records

Property tax history

+1.2%/yr

Latest (2025): $879 · +9.3% YoY. Source: county tax records.