11201 122nd Ave #126 · Largo, FL 33778

$140,000

2 bd · 2.0 ba · 960 sqft · Condo public records · 35 Days on market

Built 1982 $515/mo HOA · 25% 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 +16.6/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous!!!!Just like NEW!! New kitchen, new appl. .new carpet, new bathrooms. .. Just Perfect. .. in the most wonderfully maintained complex in the area, SHADOW LAKES, The best view of the lake from your screen enclosed porch. Relax at one of the two pool areas, also car wash area, close to ALL shopping and beaches. You will LOVE this unit. NOT 55 complex and your small pet is allowed. Your own inside laundry. .. Everything you need for the Perfect Florida Life style. This unit Really! is perfect. NO flood insurance required.

Key facts

• Lake views
• Tile flooring
• En suite bath

Tags

• LAKE VIEWS
• PRIVATE SCREENED-IN PORCH
• TILE FLOORING
• OPEN-CONCEPT LAYOUT
• EN SUITE BATH
• WALK IN CLOSET

Property features AI

Finance

• Other: Association name: kayla ruiz
• Financial info: Total monthly fees $515; total annual fees $6,180; Lease restrictions apply
• HOA & community: Monthly HOA fee of $515 (includes cable TV, pool, internet, grounds maintenance, sewer, trash, water); Association requires approval; Association amenities include pool, shuffleboard court and storage; Community features: pool, sidewalks, community mailbox, deed restrictions; buyer approval required; Pets allowed (cats and dogs) with limits; max pet weight 25 lbs

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium; Residential property; One-level unit on first floor; Faces south
• Construction: Block, stucco and frame construction; Shingle roof; Slab foundation; Built as part of a multi-building complex (building number 11201)
• Exterior features: Sidewalk; Other exterior features; Lakefront with lake view and lake access (180 feet frontage)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floor plan; Walk-in closet(s); Great room
• Laundry & utility: Inside laundry; Washer; Dryer; Inside utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 rising (+1.4%/yr); 140 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 38% of the median local income ($65k/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 $968 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 35 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $95k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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: 1.47% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.57%
• DSCR: 1.11
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.38% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.48×
• Total profit: $-20,247
• Equity at exit: $20,874

10-year hold

• IRR: -10.4%
• Equity multiple: 0.43×
• Total profit: $-22,266
• Equity at exit: $12,105

Cash invested: $39,200 (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 33778

• Rents YoY: 1.4%
• Active inventory: 140
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$734
• Tax from tax record: −$229 /mo · $2,749/yr
• Insurance: −$58
• HOA: −$515
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $84

Break-even live

Break-even rent $1,945

Max offer price $140,000

Occupancy floor 91%

Sensitivity live

Price	-10% $163	-5% $124	+0% $84	+5% $44	+10% $5
Rent	-10% $-78	-5% $3	+0% $84	+5% $165	+10% $246
Rate	-1.0pp $154	-0.5pp $120	base $84	+0.5pp $48	+1.0pp $11

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	5d	2	0.12mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	25d	1	0.35mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	25d	1	0.38mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	8d	1	0.55mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	8d	1	0.67mi
12651 Seminole Blvd #44 Largo, FL	2.0	1.5	1000	$1,450	$1.45	25d	1	0.75mi
11290 109th Ln Largo, FL	2.0	1.0	988	$1,995	$2.02	25d	1	0.79mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	5d	1	0.79mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	8d	1	0.80mi
2131 Ridge Rd S #105 Largo, FL	2.0	1.5	1035	$1,850	$1.79	25d	1	0.83mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,395	$2.35	3d	23	0.85mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	25d	1	0.91mi
775 Royal Palm Cir Largo, FL	2.0	2.0	1008	$1,700	$1.69	5d	1	0.91mi
10580 112th Ave Largo, FL	3.0	1.0	925	$1,995	$2.16	5d	1	0.99mi
10155 Sailwinds Blvd S #204 Largo, FL	2.0	2.0	1018	$1,750	$1.72	4d	1	1.05mi
10160 Sailwinds Blvd S Largo, FL	2.0	2.0	901	$1,950	$2.16	25d	2	1.06mi
253 Sago Palm St Largo, FL	2.0	2.0	1000	$1,295	$1.29	25d	1	1.12mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	21d	1	1.32mi
10932 104th Ave Largo, FL	2.0	1.0	962	$1,950	$2.03	25d	1	1.32mi
10546 106th Ave N Unit a Largo, FL	1.0	1.0	624	$1,223	$1.96	25d	1	1.33mi
1201 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1067	$1,870	$1.75	3d	1	1.39mi
1741 Trotter Rd Unit A Largo, FL	2.0	1.0	800	$1,350	$1.69	25d	1	1.44mi
10165 106th Ter Unit 1 Largo, FL	1.0	1.0	624	$1,325	$2.12	25d	1	1.46mi
2272 16th Ave SW Unit C Largo, FL	2.0	1.0	1031	$2,600	$2.52	25d	1	1.46mi

HOA detail condo

• Monthly dues: $515 · $6,180/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-13
   remarks 693-char remark
2. 2026-06-13
   statusdays on market $140,000 Pending 35 DOM
3. 2026-06-09
   days on market $140,000 Active 32 DOM
4. 2026-06-08
   days on market $140,000 Active 31 DOM
5. 2026-06-07
   days on market $140,000 Active 30 DOM
6. 2026-06-04
   days on market $140,000 Active 27 DOM
7. 2026-06-03
   days on market $140,000 Active 26 DOM
8. 2026-06-01
   days on market $140,000 Active 24 DOM
9. 2026-05-31
   days on market $140,000 Active 23 DOM
10. 2026-05-08
    listed $140,000 Active
11. 2025-07-08
    historical
12. 2025-06-18
    price $149,898
13. 2025-06-03
    price $160,000
14. 2025-05-28
    price $165,000
15. 2025-05-10
    listed $175,000 Active
16. 2010-04-29
    soldstatus $95,000
17. 2010-04-28
    soldstatus $95,000 532-char remark

    Show marketing remark (532 chars)

    Fabulous!!!!Just like NEW!! New kitchen, new appl. .new carpet, new bathrooms. .. Just Perfect. .. in the most wonderfully maintained complex in the area, SHADOW LAKES, The best view of the lake from your screen enclosed porch. Relax at one of the two pool areas, also car wash area, close to ALL shopping and beaches. You will LOVE this unit. NOT 55 complex and your small pet is allowed. Your own inside laundry. .. Everything you need for the Perfect Florida Life style. This unit Really! is perfect. NO flood insurance required.

18. 2010-02-15
    listed $104,000 532-char remark

    Show marketing remark (532 chars)

    Fabulous!!!!Just like NEW!! New kitchen, new appl. .new carpet, new bathrooms. .. Just Perfect. .. in the most wonderfully maintained complex in the area, SHADOW LAKES, The best view of the lake from your screen enclosed porch. Relax at one of the two pool areas, also car wash area, close to ALL shopping and beaches. You will LOVE this unit. NOT 55 complex and your small pet is allowed. Your own inside laundry. .. Everything you need for the Perfect Florida Life style. This unit Really! is perfect. NO flood insurance required.

19. 2002-02-05
    soldstatus $66,000
20. 1994-09-13
    soldstatus $22,000
21. 1983-03-01
    soldstatus $55,000

ⓘ 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: $2,749 · $229/mo
• Projected year-2 tax: $2,749 · $229/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 6 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,617
• − Mortgage interest: −$7,842
• − Property taxes: −$2,749
• − Insurance: −$700
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − HOA: −$6,180
• − Depreciation: −$4,073
• Taxable loss: −$866
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $1,216/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): 16,807
• Household income: $65,355
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 261.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 11% Black 9% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 6%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 10% Vietnamese 1% French/Haitian/Cajun 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: ▼ -320.64%
• Current HPI: 369.3008
• Rent YoY: ▲ 1.38%
• 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

+154.5% since first listed

12 events — show timeline

• 2026-05-08 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-18 Price Changed $149,898 Stellar MLS as Distributed by MLS Grid
• 2025-06-03 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-10 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 2010-04-29 Sold (Public Records) $95,000 Public Records
• 2010-04-28 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2010-02-15 Listed $104,000 Stellar MLS as Distributed by MLS Grid
• 2002-02-05 Sold (Public Records) $66,000 Public Records
• 1994-09-13 Sold (Public Records) $22,000 Public Records
• 1983-03-01 Sold (Public Records) $55,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,749 · +5.6% YoY. Source: county tax records.