4851 W Gandy Blvd Unit B4L24 · Tampa, FL 33611

$135,000

2 bd · 1.0 ba · 800 sqft · Condo public records · 128 Days on market

Built 1957 $372/mo HOA · 16% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

South Tampa 55+ co-op owned gated exotic waterfront community consisting of 427 owners now features this 2 bedrooms 1.5 bathrooms furnished gem available for purchase. This move-in ready home is on a corner lot and offers a covered and screened lanai as well as an open back deck. The home is surrounded by large windows that usher in abundant natural light and allow for a cross-breeze when opened. The flooring is luxury vinyl plank and is consistent throughout the home. All appliances stay with the home. Washer, dryer, water heater, and flooring were all replaced 2024. Furniture and non-personal furnishings seen in photos and at showings stay with the home unless the buyer wishes for them to be removed. Laundry facilities are available in the laundry/storage room that is accessible from the screened lanai. Owning this home in this community will provide you with access to a number of community activities and amenities such as: church services, recently renovated heated pool and hot tub, two covered pavilions, boat docks, kayak put-in, fishing, fish cleaning salon, grilling stations, shuffleboard, library, gym, fitness classes, bingo, horseshoes, card games, pool tables, board games, puzzles, arts & crafts classes, water craft and trailer parking, and more. The very low HOA fee includes water, sewer, trash pickup, and groundskeeping. Near MacDill Air Force Base, St Petersburg, downtown Tampa, marinas, restaurants, venues, arenas, entertainment, and major roadways and bridges to access nearby beaches and all the Tampa Bay area has to offer. This home is priced to sell! Come and see this well maintained home in this beautiful community, and make your offer today! (Note: Please see the attached virtual tour!)

Key facts

• Parking
• Community pool
• Built 1957

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 416 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• This rent runs 30% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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: 1.70% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.18%
• DSCR: 1.81
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.54×
• Total profit: $-17,304
• Equity at exit: $20,129

10-year hold

• IRR: -11.5%
• Equity multiple: 0.43×
• Total profit: $-21,568
• Equity at exit: $11,672

Cash invested: $37,800 (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 33611

• Rents YoY: 0.7%
• Active inventory: 416
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,300 high
• Mortgage (P&I): −$708
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$372
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $146

Break-even live

Break-even rent $2,115

Max offer price $135,000

Occupancy floor 89%

Sensitivity live

Price	-10% $223	-5% $184	+0% $146	+5% $108	+10% $70
Rent	-10% $-36	-5% $55	+0% $146	+5% $237	+10% $328
Rate	-1.0pp $214	-0.5pp $180	base $146	+0.5pp $111	+1.0pp $76

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Culbreath Key Way Tampa, FL	1.0–2.0	1.0–2.0	847	$2,995	$3.54	3d	3	0.15mi
4800 S West Shore Blvd Tampa, FL	1.0–2.0	1.0–2.0	801	$2,256	$2.82	2d	18	0.16mi
4851 W Gandy Blvd Tampa, FL	1.0–2.0	1.0–1.5	615	$1,400	$2.28	17d	2	0.17mi
4922 W Gandy Blvd #102 Tampa, FL	1.0	1.0	595	$1,450	$2.44	12d	1	0.22mi
5001 Bridge St Tampa, FL	3.0	1.0–2.0	1005	$2,954	$2.94	2d	10	0.46mi
5350 Bridge St Tampa, FL	1.0–3.0	1.0–2.0	1092	$2,999	$2.75	2d	12	0.59mi
5320 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	798	$2,731	$3.42	2d	17	0.63mi
5127 W Tyson Ave Tampa, FL	3.0	1.0–2.5	1078	$4,469	$4.14	5d	25	0.66mi
4003 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	690	$1,950	$2.82	2d	303	0.69mi
4315 Aegean Dr Unit 102C Tampa, FL	2.0	1.0	1000	$1,849	$1.85	22d	1	0.70mi
5301 W Tyson Ave Tampa, FL	1.0–3.0	1.0–2.0	1176	$4,045	$3.44	2d	190	0.74mi
4304 La Riviera Ct Tampa, FL	2.0	1.5	1044	$3,275	$3.14	24d	1	0.75mi
4521 W La Villa Ln Tampa, FL	2.0	1.5	1044	$1,875	$1.80	24d	1	0.75mi
4233 La Sorrento Ct Tampa, FL	2.0	1.5	1044	$2,200	$2.11	4d	1	0.78mi
4220 La Dega Ct Unit 1 Tampa, FL	2.0	1.5	1044	$1,899	$1.82	24d	1	0.80mi
4220 La Dega Ct Tampa, FL	2.0	2.0	1044	$1,899	$1.82	24d	1	0.80mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	11d	1	0.82mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	24d	1	0.82mi
4720 W Leila Ave Tampa, FL	3.0	1.0	864	$1,850	$2.14	5d	1	0.82mi
4002 S Manhattan Ave Tampa, FL	1.0	1.0	650	$1,524	$2.34	3d	3	0.96mi
5432 W Tyson Ave Tampa, FL	1.0–2.0	1.0–2.0	911	$3,653	$4.01	2d	51	1.01mi
5608 S Manhattan Ave Unit A Tampa, FL	2.0	1.0	800	$500	$0.62	18d	1	1.02mi
4716 W Wisconsin Ave Tampa, FL	3.0	1.0	980	$3,200	$3.27	24d	1	1.02mi
5145 S Dale Mabry Hwy Tampa, FL	3.0	1.0–2.0	1057	$3,253	$3.08	3d	20	1.11mi
6207 S West Shore Blvd Tampa, FL	3.0	1.0–2.0	1076	$3,930	$3.65	2d	36	1.17mi
5055 S Dale Mabry Hwy Tampa, FL	2.0	1.0–2.0	797	$2,000	$2.51	3d	28	1.20mi
3821 N Oak Dr Unit J21 Tampa, FL	2.0	2.0	1010	$1,950	$1.93	21d	1	1.23mi
3811 N Oak Dr Unit 61 Tampa, FL	2.0	2.0	904	$1,880	$2.08	11d	1	1.30mi
4207 S Dale Mabry Hwy Tampa, FL	1.0–3.0	1.0–2.0	1117	$2,185	$1.96	4d	7	1.34mi
4301 W Bay Ave Tampa, FL	3.0	2.0	950	$2,298	$2.42	20d	1	1.34mi
6301 S West Shore Blvd Tampa, FL	2.0	1.0–2.0	687	$1,979	$2.88	2d	33	1.38mi
5117 S Clarice Ct Unit 5117A Tampa, FL	2.0	1.0	900	$1,756	$1.95	14d	1	1.42mi
6237 S Manhattan Ave Tampa, FL	2.0	1.0	900	$1,749	$1.94	5d	11	1.42mi
5101 S Clarice Ct Tampa, FL	2.0	1.0	820	$1,300	$1.59	24d	1	1.44mi
5107 S Clarice Ct Tampa, FL	2.0	1.0	1000	$1,500	$1.50	2d	1	1.44mi
5113 S Clarice Ct Unit 5113A Tampa, FL	2.0	1.0	1000	$1,500	$1.50	15d	1	1.45mi

HOA detail condo

• Monthly dues: $372 · $4,464/yr
• Likely covers: watersewertrashlandscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $135,000 Active 128 DOM
2. 2026-06-17
   days on market $135,000 Active 127 DOM
3. 2026-06-16
   days on market $135,000 Active 126 DOM
4. 2026-06-15
   days on market $135,000 Active 125 DOM
5. 2026-06-13
   days on market $135,000 Active 123 DOM
6. 2026-06-13
   days on market $135,000 Active 122 DOM
7. 2026-06-10
   price $135,000 Active 119 DOM
8. 2026-06-09
   days on market $145,000 Active 119 DOM
9. 2026-06-08
   days on market $145,000 Active 118 DOM
10. 2026-06-07
    days on market $145,000 Active 117 DOM
11. 2026-06-04
    days on market $145,000 Active 114 DOM
12. 2026-06-03
    days on market $145,000 Active 113 DOM
13. 2026-06-02
    days on market $145,000 Active 112 DOM
14. 2026-06-01
    days on market $145,000 Active 111 DOM
15. 2026-05-31
    days on market $145,000 Active 110 DOM
16. 2026-02-05
    listed $145,000 Active 1740-char remark

    Show marketing remark (1740 chars)

    South Tampa 55+ co-op owned gated exotic waterfront community consisting of 427 owners now features this 2 bedrooms 1.5 bathrooms furnished gem available for purchase. This move-in ready home is on a corner lot and offers a covered and screened lanai as well as an open back deck. The home is surrounded by large windows that usher in abundant natural light and allow for a cross-breeze when opened. The flooring is luxury vinyl plank and is consistent throughout the home. All appliances stay with the home. Washer, dryer, water heater, and flooring were all replaced 2024. Furniture and non-personal furnishings seen in photos and at showings stay with the home unless the buyer wishes for them to be removed. Laundry facilities are available in the laundry/storage room that is accessible from the screened lanai. Owning this home in this community will provide you with access to a number of community activities and amenities such as: church services, recently renovated heated pool and hot tub, two covered pavilions, boat docks, kayak put-in, fishing, fish cleaning salon, grilling stations, shuffleboard, library, gym, fitness classes, bingo, horseshoes, card games, pool tables, board games, puzzles, arts & crafts classes, water craft and trailer parking, and more. The very low HOA fee includes water, sewer, trash pickup, and groundskeeping. Near MacDill Air Force Base, St Petersburg, downtown Tampa, marinas, restaurants, venues, arenas, entertainment, and major roadways and bridges to access nearby beaches and all the Tampa Bay area has to offer. This home is priced to sell! Come and see this well maintained home in this beautiful community, and make your offer today! (Note: Please see the attached virtual tour!)

ⓘ 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: $1,294 · $108/mo
• Projected year-2 tax: $1,294 · $108/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,596
• − Mortgage interest: −$7,562
• − Property taxes: −$1,294
• − Insurance: −$5,794
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − HOA: −$4,464
• − Depreciation: −$3,927
• Taxable income: $140
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $1,720/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 36,810
• Household income: $90,910
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1761.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 12% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 4%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -328.23%
• Current HPI: 374.7996
• Rent YoY: ▲ 0.69%
• 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

1 event — show timeline

• 2026-02-05 Listed $145,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,294 · +5.7% YoY. Source: county tax records.