5265 E Bay Dr #1013 · Largo, FL 33764

$120,000

1 bd · 1.0 ba · 620 sqft · Condo public records · 39 Days on market

Built 1982 $470/mo HOA · 27% 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 +16.2/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this ground-floor residence in the well-maintained Bay Oaks Condo community. Nestled in Building 10, located in a NO-flood zone, this unit offers privacy and peace of mind in a quiet setting. Less than 2 years old AC unit/water heater. This unit features a bright, open floor layout with wood-look tile throughout the main living areas. The generously sized bedroom includes a walk-in closet, and the effective bathroom tile and vanity. A washer and dryer are included, and there is plenty of storage throughout the unit. Enhancing the home is a windowed, screened-in solarium—ideal for year-round use and easily accessible from both the living room and bedroom. Additional highligh

Key facts

• No-flood zone
• Walk-in closet
• Wood-look tile

Tags

• GROUND-FLOOR RESIDENCE
• NO-FLOOD ZONE
• WOOD-LOOK TILE
• WALK-IN CLOSET
• WINDOWED SCREENED-IN SOLARIUM
• COVERED RESERVED PARKING SPACE

Property features AI

Finance

• Other: Unit is furnished; Living area 620 square feet; Building number 10
• Financial info: Total monthly fees $470; Total annual fees $5,640; Lease restrictions apply
• HOA & community: HOA managed by Westcoast Property Management; Monthly condo fee $470; Association approval required; HOA fee includes cable TV, internet, pool, escrow reserves, structure & grounds maintenance, sewer, trash and water; Pets allowed (cats and dogs), max pet weight 35 lbs; Buyer approval required for community

Exterior

• Parking: Covered parking; Ground-level parking; Guest parking available; Reserved parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; Single-story unit (floor 1); Faces east
• Construction: Block and concrete construction; Shingle roof; Built on slab foundation
• Exterior features: Asphalt road; Other exterior features

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Tile; Slab foundation
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry closet; Outside laundry access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $64 ($763/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.2% 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.
• Market conditions: Rents falling (-5.2%/yr); 261 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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 $830 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.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $120k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• GRM: 5.8

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: -17.7%
• Equity multiple: 0.40×
• Total profit: $-20,136
• Equity at exit: $17,892

10-year hold

• IRR: -22.9%
• Equity multiple: 0.09×
• Total profit: $-30,579
• 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 33764

• Rents YoY: -5.2%
• Active inventory: 261
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,725 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$470
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $64

Break-even live

Break-even rent $1,645

Max offer price $120,000

Occupancy floor 91%

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16485 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	984	$2,442	$2.48	1d	249	0.57mi
16485 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	984	$2,571	$2.61	17d	100	0.57mi
4300 E Bay Dr Unit 228 Clearwater, FL	1.0	1.0	520	$1,399	$2.69	24d	1	0.63mi
4215 E Bay Dr Clearwater, FL	1.0	1.0	575	$1,775	$3.09	17d	3	0.64mi
4215 E Bay Dr Clearwater, FL	1.0	1.0	535	$2,300	$4.30	7d	4	0.64mi
2770 Roosevelt Blvd Clearwater, FL	1.0–2.0	1.0	795	$1,374	$1.73	14d	10	0.68mi
500 Belcher Rd S #18 Largo, FL	1.0	1.0	637	$1,500	$2.35	3d	1	0.93mi
2166 Bradford St #125 Clearwater, FL	1.0	1.0	480	$1,250	$2.60	4d	1	0.99mi
2166 Bradford St Clearwater, FL	1.0	1.0	480	$1,250	$2.60	24d	1	0.99mi
2554 Oak Trl S Clearwater, FL	1.0–2.0	1.0–2.0	862	$1,415	$1.64	2d	14	1.01mi
13500 Rodgers Ave Largo, FL	1.0	1.0	700	$1,474	$2.11	1d	5	1.30mi
305 Glades Cir Largo, FL	1.0–3.0	1.0–1.5	875	$1,241	$1.42	1d	34	1.31mi
15950 Bay Vista Dr Unit 207 Clearwater, FL	1.0	1.0	565	$1,700	$3.01	7d	1	1.38mi

HOA detail condo

• Monthly dues: $470 · $5,640/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $120,000 Active 39 DOM
2. 2026-06-17
   days on market $120,000 Active 38 DOM
3. 2026-06-16
   days on market $120,000 Active 37 DOM
4. 2026-06-15
   days on market $120,000 Active 36 DOM
5. 2026-06-13
   pricedays on market $120,000 Active 34 DOM
6. 2026-06-09
   days on market $126,000 Active 30 DOM
7. 2026-06-08
   days on market $126,000 Active 29 DOM
8. 2026-06-07
   days on market $126,000 Active 28 DOM
9. 2026-06-04
   days on market $126,000 Active 25 DOM
10. 2026-06-03
    days on market $126,000 Active 24 DOM
11. 2026-06-01
    days on market $126,000 Active 22 DOM
12. 2026-05-31
    days on market $126,000 Active 21 DOM
13. 2026-05-10
    listed $129,500 Active
14. 2004-01-12
    soldstatus $55,000
15. 1997-04-29
    soldstatus $28,500
16. 1989-11-13
    soldstatus $36,500
17. 1983-05-01
    soldstatus $39,000
18. 1982-03-01
    soldstatus $33,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 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: $20,702
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,656
• − Management: −$1,656
• − HOA: −$5,640
• − Depreciation: −$3,491
• Taxable loss: −$863
• Est. tax savings @ 24.0%: +$207
• After-tax cash flow: $970/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

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,311
• Household income: $67,256
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1118.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% German 2%
• Foreign-born: 14% · Canada, Jamaica, Vietnam
• Languages at home: 80% English-only · Spanish 10% Russian/Polish/Slavic 4% 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: ▼ -350.08%
• Current HPI: 315.4133
• Rent YoY: ▼ -5.24%
• 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

+292.4% since first listed

6 events — show timeline

• 2026-05-10 Listed $129,500 Stellar MLS as Distributed by MLS Grid
• 2004-01-12 Sold (Public Records) $55,000 Public Records
• 1997-04-29 Sold (Public Records) $28,500 Public Records
• 1989-11-13 Sold (Public Records) $36,500 Public Records
• 1983-05-01 Sold (Public Records) $39,000 Public Records
• 1982-03-01 Sold (Public Records) $33,000 Public Records

Property tax history

-9.7%/yr

Latest (2025): $142 · +16.4% YoY. Source: county tax records.