1500 County Road 1 #20 · Dunedin, FL 34698

$140,000

2 bd · 2.0 ba · 984 sqft · Manufactured public records · 90 Days on market

Built 1968 Est $124k · 13% over $275/mo HOA · 14% 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 +25.8/30.0
• 1% rule +9.1/10.0
• DSCR +8.6/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy Easy Florida Living in Lake Highlander — A Welcoming 55+ Golf Cart Community Discover comfort, space, and convenience in this well-maintained 2-bedroom, 2-bath doublewide home offering approximately 984 square feet of relaxed living. Located in the sought-after Lake Highlander Mobile Home Park, this home is perfectly suited for those looking to enjoy an active yet peaceful lifestyle in a friendly 55+ neighborhood where golf carts are a way of life. Step inside to find a bright and inviting interior with a thoughtful layout designed for both everyday comfort and entertaining. The home features a blend of laminate and carpet flooring, ceiling fans throughout, and window blinds al

Key facts

• Laundry area
• Walk-in closet
• Vinyl siding

Tags

• PRIVATE ENSUITE RETREATS
• WALK-IN CLOSET
• UTILITY SINK
• VINYL SIDING
• LAUNDRY AREA

Property features AI

Finance

• Other: Furnished; Living area reported 984 square feet
• Financial info: Total monthly fees reported $275; total annual fees reported $3,300; Lease restrictions apply
• HOA & community: Has HOA; monthly fee $275 (includes pool, sewer, water, trash, management, maintenance of grounds, private road, escrow reserves); Association amenities: Clubhouse, Laundry, Pool, Shuffleboard court; Association approval required; Community features: Clubhouse, Pool, Golf, Golf carts allowed, Sidewalks; Senior community; Cats allowed

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Private sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Residential mobile home (double wide); One story; Faces north; Entry on crawlspace foundation
• Construction: Vinyl siding; Roof over; Crawlspace foundation; Built as double wide mobile home
• Exterior features: Awning(s); Private mailbox; Rain gutters; Sidewalk; Asphalt road access; Private maintained road

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Walk-in closets; 8 total rooms
• Laundry & utility: Washer; Dryer; Laundry located outside; Electric water heater

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $339 ($4k/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: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 32% 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 $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 90 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.36%
• DSCR: 1.46
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $123,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1500 County Road 1 #33	0.00mi	2/1.0	850 (-14%)	2mo	$107,500	$126	72

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 · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,553
• Equity at exit: $20,874

10-year hold

• IRR: 8.4%
• Equity multiple: 1.63×
• Total profit: $24,662
• 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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,976 high
• Mortgage (P&I): −$734
• Tax from tax record: −$155 /mo · $1,864/yr
• Insurance: −$58
• HOA: −$275
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $339

Break-even live

Break-even rent $1,548

Max offer price $140,000

Occupancy floor 78%

Sensitivity live

Price	-10% $418	-5% $378	+0% $339	+5% $299	+10% $259
Rent	-10% $182	-5% $260	+0% $339	+5% $417	+10% $495
Rate	-1.0pp $409	-0.5pp $374	base $339	+0.5pp $302	+1.0pp $265

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 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 County Road 1 Dunedin, FL	1.0–2.0	1.0	719	$1,750	$2.43	8d	1	0.30mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	17d	1	0.65mi
1454 Michigan Blvd Dunedin, FL	2.0	1.0	1000	$2,300	$2.30	4d	1	0.69mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.70mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.70mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	5d	1	0.75mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	3d	1	0.84mi
1430 Heather Ridge Blvd #304 Dunedin, FL	1.0	1.0	915	$1,500	$1.64	25d	1	0.97mi
905 Patricia Ave Dunedin, FL	1.0	1.0	550	$1,800	$3.27	25d	1	1.04mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	5d	1	1.11mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	25d	1	1.13mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	18d	1	1.13mi
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	17d	2	1.15mi
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	25d	1	1.15mi
3055 Belcher Rd Dunedin, FL	2.0	1.0	750	$1,345	$1.79	22d	1	1.16mi
3052 Park Ln Unit B Dunedin, FL	2.0	1.0	821	$1,700	$2.07	25d	1	1.18mi
3071 Park Ln Unit C Dunedin, FL	1.0	1.0	690	$1,195	$1.73	25d	1	1.23mi
639 Michigan Blvd Unit 1800 Dunedin, FL	1.0	1.0	616	$1,200	$1.95	25d	1	1.25mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	2d	6	1.27mi
2780 Park Dr Unit D 4 Clearwater, FL	2.0	1.5	900	$1,625	$1.81	25d	1	1.34mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	25d	1	1.41mi
2760 Belle Haven Dr Unit C Clearwater, FL	2.0	1.0	682	$1,550	$2.27	17d	1	1.42mi
2760 Belle Haven Dr Clearwater, FL	2.0	1.0	682	$1,550	$2.27	4d	1	1.42mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	5d	1	1.43mi
2780 Cypress Dr Unit A Clearwater, FL	2.0	1.0	900	$1,749	$1.94	22d	1	1.46mi
2307 Cumberland Cir Clearwater, FL	1.0–2.0	1.0–2.0	873	$2,099	$2.40	4d	15	1.46mi
1579 Bayshore Blvd Dunedin, FL	3.0	2.0	1040	$3,500	$3.37	8d	1	1.50mi

HOA detail

• Monthly dues: $275 · $3,300/yr

Listing history 5 events

1. 2026-05-22
   status Pending
2. 2026-04-22
   price $140,000
3. 2026-02-21
   listed $155,000 Active
4. 2017-12-08
   soldstatus $75,000
5. 2010-12-09
   soldstatus $34,000

ⓘ 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: $1,864 · $155/mo
• Projected year-2 tax: $1,864 · $155/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 · 24 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: $23,717
• − Mortgage interest: −$7,842
• − Property taxes: −$1,864
• − Insurance: −$700
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − HOA: −$3,300
• − Depreciation: −$4,073
• Taxable income: $2,143
• Est. tax owed @ 24.0%: −$514
• After-tax cash flow: $3,548/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: 38,171
• 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

+311.8% since first listed

5 events — show timeline

• 2026-05-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-08 Sold (Public Records) $75,000 Public Records
• 2010-12-09 Sold (Public Records) $34,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,864 · +9.2% YoY. Source: county tax records.