948 Virginia St #202 · Dunedin, FL 34698

$135,000

2 bd · 2.0 ba · 1,027 sqft · Condo public records · 115 Days on market

Built 1976 $623/mo HOA · 30% 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 +15.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location, only minutes from Main-street of world-renowned DUNEDIN!! You'll love this second-floor condo with water view and sparkling fountain! With a large kitchen, 2 bedrooms and 2 full bathrooms, double closets in the master. Water views thru the sliders open the doors and enjoy the relaxing sounds of the fountain, this unit will delight! You will enjoy the screened porch with natural views of the pond, fountain and mature landscaping. Your looking west so the sunset colors will be your view. Large living area for your guest. One-minute walk and you’re at the great clubhouse to meet your neighbors with plenty of room including Pool table, ping pong table, library, kitchen and more. Extra-large heated pool with lots of chairs and tables to relax. There are spaces that have grills and picnic tables. Affordable living for the 55 plus set. Well Kept complex. Ride your bike or just a nice walk to Main-street, with restaurants, shops, waterfront, marina, or just a nice stroll to the Main-street park. Minutes to Beaches medical, hospital, shopping, bicycle the Pinellas Trail, etc. Condo comes complete with all furniture, Truly, Move in ready!

Key facts

• Onsite laundry
• Hurricane shutters
• Newer windows

Tags

• ELEVATOR ACCESS
• PRIVATE COVERED BALCONY
• HURRICANE SHUTTERS
• NEWER WINDOWS
• ONSITE LAUNDRY
• HEATED COMMUNITY POOL

Property features AI

Finance

• Other: Furnished; Lease restrictions apply
• Financial info: Total monthly fees $623; total annual fees $7,476; Land lease $81
• HOA & community: Monthly association fee of $623 (includes cable TV, pool, escrow reserves, insurance, internet, structure and grounds maintenance, management, pest control, sewer, trash, water); Association approval required; Association: Resource Property Management; Buyer approval required for community; Clubhouse; Community pool; No truck/RV/motorcycle parking; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Covered parking; Guest parking; 1-car carport
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium; Residential property; One level; East-facing; Located on 2nd floor of Building L
• Construction: Concrete construction; Concrete roof; Slab foundation; Built as part of a multi-story building (3 stories total)
• Exterior features: Covered screened patio/porch; Balcony; Hurricane shutters; Rain gutters; Sliding doors; Pond view

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Window treatments; Building has elevator
• Laundry & utility: Common area laundry with corridor access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $58 ($696/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: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.8% in Dunedin — 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 86/100 on livability (#15 in FL, #411 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: employment C-, amenities D.
• 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 (+2.7%/yr); 478 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 34% of the median local income ($74k/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.
• 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 115 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• 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 $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.54% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-18,397
• Equity at exit: $20,129

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-12,144
• 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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$708
• Tax from tax record: −$202 /mo · $2,423/yr
• Insurance: −$56
• HOA: −$623
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $58

Break-even live

Break-even rent $2,011

Max offer price $135,000

Occupancy floor 92%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	24d	1	0.18mi
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	16d	2	0.18mi
920 Lakewood Dr Dunedin, FL	3.0	2.0	1457	$3,000	$2.06	24d	1	0.21mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	4d	1	0.40mi
556 Patricia Ave Dunedin, FL	2.0	1.0	850	$1,795	$2.11	4d	1	0.44mi
978 Cedarwood Ave Dunedin, FL	2.0	1.0	1100	$1,800	$1.64	24d	1	0.44mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	16d	1	0.53mi
857 Lyndhurst St Unit D Dunedin, FL	2.0	2.0	1050	$1,700	$1.62	18d	1	0.54mi
526 Belmist Ct Dunedin, FL	3.0	2.0	1480	$2,700	$1.82	24d	1	0.54mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	24d	1	0.59mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	4d	1	0.59mi
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	3d	12	0.68mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.70mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.71mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	1d	6	0.72mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	24d	1	0.73mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	18d	1	0.73mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	7d	2	0.73mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	24d	1	0.77mi
1235 Bass Blvd Dunedin, FL	3.0	2.0	1300	$2,550	$1.96	18d	1	0.77mi
152 Macalpine Way Dunedin, FL	1.0–3.0	1.0–2.5	943	$2,084	$2.21	1d	42	0.78mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	3d	1	0.80mi
613 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	11d	1	0.80mi
611 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	4d	1	0.81mi
941 Highland Ave Unit D Dunedin, FL	1.0	1.0	1000	$1,300	$1.30	20d	1	0.82mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	24d	1	0.83mi
1479 Ruth Rd Dunedin, FL	2.0	2.0	1235	$2,700	$2.19	24d	1	0.84mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	4d	1	0.85mi
1580 Andover Dr Unit House Dunedin, FL	2.0	1.0	1241	$2,200	$1.77	24d	1	0.86mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	4d	1	0.89mi
2251 Springwood Cir W Clearwater, FL	3.0	2.0	1344	$3,100	$2.31	24d	1	0.90mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	2d	9	0.90mi
1525 Ruth Rd Dunedin, FL	2.0	2.0	1379	$3,200	$2.32	4d	1	0.91mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	7d	1	0.91mi
1005 Egret Ct Dunedin, FL	2.0	2.0	996	$1,400	$1.41	4d	1	0.98mi
600 Douglas Ave Unit 350 Dunedin, FL	2.0	1.0	1000	$2,195	$2.19	24d	1	1.04mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	4d	1	1.09mi
541 Roanoke St Dunedin, FL	2.0	2.0	912	$2,345	$2.57	14d	1	1.18mi
662 Union St Unit 1A Dunedin, FL	3.0	1.0	1100	$1,749	$1.59	22d	1	1.21mi
2005 Greenbriar Blvd #1 Clearwater, FL	2.0	2.0	930	$1,500	$1.61	4d	1	1.25mi

HOA detail condo

• Monthly dues: $623 · $7,476/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   days on market $135,000 Active 115 DOM
2. 2026-06-04
   days on market $135,000 Active 112 DOM
3. 2026-06-03
   days on market $135,000 Active 111 DOM
4. 2026-06-01
   days on market $135,000 Active 109 DOM
5. 2026-05-31
   days on market $135,000 Active 108 DOM
6. 2026-04-16
   price $135,000
7. 2026-02-12
   listed $145,000 Active
8. 2025-06-13
   historical
9. 2025-04-09
   listed $164,900 Active
10. 2020-03-25
    soldstatus $135,000
11. 2020-03-18
    soldstatus $135,000 Sold 1183-char remark

    Show marketing remark (1183 chars)

    Location, Location, Location, only minutes from Main-street of world-renowned DUNEDIN!! You'll love this second-floor condo with water view and sparkling fountain! With a large kitchen, 2 bedrooms and 2 full bathrooms, double closets in the master. Water views thru the sliders open the doors and enjoy the relaxing sounds of the fountain, this unit will delight! You will enjoy the screened porch with natural views of the pond, fountain and mature landscaping. Your looking west so the sunset colors will be your view. Large living area for your guest. One-minute walk and you’re at the great clubhouse to meet your neighbors with plenty of room including Pool table, ping pong table, library, kitchen and more. Extra-large heated pool with lots of chairs and tables to relax. There are spaces that have grills and picnic tables. Affordable living for the 55 plus set. Well Kept complex. Ride your bike or just a nice walk to Main-street, with restaurants, shops, waterfront, marina, or just a nice stroll to the Main-street park. Minutes to Beaches medical, hospital, shopping, bicycle the Pinellas Trail, etc. Condo comes complete with all furniture, Truly, Move in ready!

12. 2020-02-11
    status Pending 1183-char remark

    Show marketing remark (1183 chars)

    Location, Location, Location, only minutes from Main-street of world-renowned DUNEDIN!! You'll love this second-floor condo with water view and sparkling fountain! With a large kitchen, 2 bedrooms and 2 full bathrooms, double closets in the master. Water views thru the sliders open the doors and enjoy the relaxing sounds of the fountain, this unit will delight! You will enjoy the screened porch with natural views of the pond, fountain and mature landscaping. Your looking west so the sunset colors will be your view. Large living area for your guest. One-minute walk and you’re at the great clubhouse to meet your neighbors with plenty of room including Pool table, ping pong table, library, kitchen and more. Extra-large heated pool with lots of chairs and tables to relax. There are spaces that have grills and picnic tables. Affordable living for the 55 plus set. Well Kept complex. Ride your bike or just a nice walk to Main-street, with restaurants, shops, waterfront, marina, or just a nice stroll to the Main-street park. Minutes to Beaches medical, hospital, shopping, bicycle the Pinellas Trail, etc. Condo comes complete with all furniture, Truly, Move in ready!

13. 2020-02-05
    listed $139,900 Active 1183-char remark

    Show marketing remark (1183 chars)

    Location, Location, Location, only minutes from Main-street of world-renowned DUNEDIN!! You'll love this second-floor condo with water view and sparkling fountain! With a large kitchen, 2 bedrooms and 2 full bathrooms, double closets in the master. Water views thru the sliders open the doors and enjoy the relaxing sounds of the fountain, this unit will delight! You will enjoy the screened porch with natural views of the pond, fountain and mature landscaping. Your looking west so the sunset colors will be your view. Large living area for your guest. One-minute walk and you’re at the great clubhouse to meet your neighbors with plenty of room including Pool table, ping pong table, library, kitchen and more. Extra-large heated pool with lots of chairs and tables to relax. There are spaces that have grills and picnic tables. Affordable living for the 55 plus set. Well Kept complex. Ride your bike or just a nice walk to Main-street, with restaurants, shops, waterfront, marina, or just a nice stroll to the Main-street park. Minutes to Beaches medical, hospital, shopping, bicycle the Pinellas Trail, etc. Condo comes complete with all furniture, Truly, Move in ready!

14. 1996-02-01
    soldstatus $36,000

ⓘ 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: $2,423 · $202/mo
• Projected year-2 tax: $2,423 · $202/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 ≥107°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,019
• − Mortgage interest: −$7,562
• − Property taxes: −$2,423
• − Insurance: −$675
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − HOA: −$7,476
• − Depreciation: −$3,927
• Taxable loss: −$1,047
• Est. tax savings @ 24.0%: +$251
• After-tax cash flow: $947/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 — Dunedin

• Score: 86/100
• State rank: #15
• US rank: #411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunedin, FL
• County: Pinellas County · 939,478 people
• City population: 79,072
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 38,171
• Household income: $74,078
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 1390.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -515.66%
• Current HPI: 387.4694
• Rent YoY: ▲ 2.69%
• 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

+275.0% since first listed

9 events — show timeline

• 2026-04-16 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-09 Listed $164,900 Stellar MLS as Distributed by MLS Grid
• 2020-03-25 Sold (Public Records) $135,000 Public Records
• 2020-03-18 Sold (MLS) $135,000 Stellar MLS as Distributed by MLS Grid
• 2020-02-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-02-05 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 1996-02-01 Sold (Public Records) $36,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,423 · -2.2% YoY. Source: county tax records.