1845 S Highland Ave Unit 5-11 · Largo, FL 33756

$84,950

1 bd · 1.0 ba · 627 sqft · Condo public records · 74 Days on market

Built 1971 $387/mo HOA · 26% 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 +23.9/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Get ready to fall in love with simplicity done right. This one-bedroom, one-bath condominium is proof that great things come in perfectly designed packages. With 627 square feet of thoughtfully laid-out living space, this home delivers comfort, functionality, and effortless Florida living all in one. Step inside and you’re welcomed by a bright, open living and dining room combination that makes the space feel airy and connected. Natural light pours in, enhanced by classic blinds and an east-facing exposure that greets you with soft morning sunshine. The seamless flow from the living area into the kitchen makes everyday living easy and entertaining feel natural. The kitchen is equipped

Key facts

• East facing exposure
• Community pool
• Dual closets

Tags

• OPEN LIVING AND DINING ROOM
• EAST FACING EXPOSURE
• TILE FLOORING
• DUAL CLOSETS
• SOLID BLOCK AND STUCCO
• COMMUNITY POOL

Property features AI

Finance

• Financial info: Total monthly fees: $387.77; Total annual fees: $4,653.24; Lease restrictions apply
• HOA & community: Association: Lilian; Monthly HOA $387.77 (includes cable TV, internet, pool, maintenance of structure and grounds, management, pest control, recreational facilities, sewer, trash, water, common area taxes, escrow reserves); Association fee required; approval required; Community amenities: Pool, park, shuffleboard court, sidewalks; Senior community; Pets not allowed; Buyer approval required

Exterior

• Parking: Vehicle restrictions apply (per association)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; One story (unit on 2nd floor); East-facing
• Construction: Block and stucco construction; Membrane roof; Slab foundation; Building number 5
• Exterior features: Balcony; Outdoor grill; Private mailbox; Sidewalk; Asphalt road access; In-ground gunite pool; Park and community sidewalks

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom (located on floor 2)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Thermostat; Blinds
• Laundry & utility: Common area laundry with corridor access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Zoned schools: Ponce De Leon Elementary School (math 43% / reading 43%, grade F, #1,366 of 2,144 statewide, top 64%, 568 students, 79% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL) — zoned schools average 66% FRL vs 48% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.2%/yr); 355 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 74 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $85k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,853 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1971 — 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. 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 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: 1.72% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 4.8

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: -8.7%
• Equity multiple: 0.69×
• Total profit: $-7,259
• Equity at exit: $12,666

10-year hold

• IRR: -6.9%
• Equity multiple: 0.65×
• Total profit: $-8,241
• Equity at exit: $7,345

Cash invested: $23,786 (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 33756

• Rents YoY: -2.2%
• Active inventory: 355
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$445
• Tax from tax record: −$122 /mo · $1,469/yr
• Insurance: −$35
• HOA: −$387
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $165

Break-even live

Break-even rent $1,254

Max offer price $84,950

Occupancy floor 84%

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: $21,238
• Closing costs: $2,548
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Rosery Rd NE Largo, FL	2.0	1.0–2.0	850	$1,549	$1.82	2d	31	0.60mi
101 Imperial Palm Dr Largo, FL	1.0–2.0	1.0–2.0	907	$1,299	$1.43	2d	35	0.79mi
250 Rosery Rd NW Largo, FL	1.0	1.0	672	$1,295	$1.93	3d	1	1.05mi
1120 Wyatt St Clearwater, FL	1.0	1.0	600	$1,150	$1.92	18d	1	1.05mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	22d	1	1.18mi
2291 E Bay Dr Largo, FL	2.0	2.0	708	$1,600	$2.26	20d	1	1.18mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	17d	1	1.20mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	24d	1	1.20mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$1,349	$1.37	3d	21	1.29mi
1538 S Martin Luther King Jr Ave Clearwater, FL	2.0	1.0	650	$1,625	$2.50	24d	1	1.33mi
1040 Clearwater Largo Rd Apt 411 Largo, FL	1.0	1.0	696	$1,650	$2.37	4d	1	1.34mi
417 Woodrow Ave Largo, FL	1.0	1.0	650	$1,175	$1.81	18d	1	1.38mi
1587 Scranton Ave Unit B Clearwater, FL	2.0	1.0	665	$1,450	$2.18	24d	1	1.39mi
157 2nd Ave SW Unit A Largo, FL	2.0	1.0	678	$1,600	$2.36	24d	1	1.44mi
556 Clearwater Largo Rd Unit 1 Largo, FL	2.0	1.0	750	$1,600	$2.13	2d	1	1.45mi
558 Clearwater Largo Rd Unit 1 Largo, FL	1.0	1.0	620	$1,400	$2.26	2d	1	1.48mi

HOA detail condo

• Monthly dues: $387 · $4,644/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-03-29
   price $84,950
2. 2026-03-16
   listed $89,900 Active
3. 2024-08-26
   historical
4. 2024-08-19
   listed $110,000 Active
5. 2024-06-13
   historical $1,200
6. 2024-03-28
   listed $1,300
7. 2016-08-01
   soldstatus $43,000
8. 2005-06-27
   soldstatus $67,500
9. 2005-01-03
   listed $57,900
10. 2001-05-08
    soldstatus $29,500
11. 1999-11-12
    soldstatus $25,500

ⓘ 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: $1,469 · $122/mo
• Projected year-2 tax: $1,469 · $122/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 ≥108°F today · 25 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: $17,553
• − Mortgage interest: −$4,759
• − Property taxes: −$1,469
• − Insurance: −$425
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − HOA: −$4,644
• − Depreciation: −$2,471
• Taxable income: $976
• Est. tax owed @ 24.0%: −$234
• After-tax cash flow: $1,748/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): 32,201
• Household income: $61,872
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1868.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 18% Black 11% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 16% · Canada
• Languages at home: 79% English-only · Spanish 14% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -438.74%
• Current HPI: 354.6792
• Rent YoY: ▼ -2.22%
• 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

+233.1% since first listed

11 events — show timeline

• 2026-03-29 Price Changed $84,950 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2024-08-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-19 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-13 Rental Removed $1,200 STELLARMLS
• 2024-03-28 Listed for Rent $1,300 STELLARMLS
• 2016-08-01 Sold (Public Records) $43,000 Public Records
• 2005-06-27 Sold (Public Records) $67,500 Public Records
• 2005-01-03 Listed $57,900 Stellar MLS as Distributed by MLS Grid
• 2001-05-08 Sold (Public Records) $29,500 Public Records
• 1999-11-12 Sold (Public Records) $25,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,469 · +3.4% YoY. Source: county tax records.