12820 Wedgewood Way Unit D · Bayonet Point, FL 34667

$129,500

2 bd · 2.0 ba · 1,144 sqft · Condo public records · 89 Days on market

Built 1976 $445/mo HOA · 27% of rent

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Why this score? — see what drove the D 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 +11.0/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice golf course condo, Newer appliances, A/C newer (per owner 3 months), Located in 55+ Community, Close to all amenities, Beaches, Shrimp docks, churches, shopping. Lots of recreational facilities, includes use of two pools, Make offer. Partially furnished. Hurricane shutters included.

Key facts

• Second floor condo
• End unit
• Pantry in kitchen

Tags

• SECOND FLOOR CONDO
• FULLY FURNISHED
• END UNIT
• LAUNDRY CLOSET
• PANTRY IN KITCHEN
• BRAND NEW WATER HEATER

Property features AI

Finance

• Other: Furnished; Private maintained asphalt road; Planned Unit Development (PUD) zoning
• Financial info: Total annual fees: $5,340; Lease restrictions apply
• HOA & community: HOA (Management and Assoc) — buyer approval required; Monthly condo fee: $445 (includes cable TV, internet, insurance, maintenance structure and grounds, management, pool, trash, water, sewer, private road, escrow reserves, common area taxes, recreational facilities); Community clubhouse and pool; Shuffleboard court; Street lights; Deed restrictions; No truck/RV/motorcycle parking; Vehicle restrictions; Senior community; Cats allowed

Exterior

• Parking: Covered deeded parking at ground level; Carport (1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected; Underground utilities; Irrigation equipment
• Home design: Residential condominium (attached); One story; Unit on 2nd floor; North-facing
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Completed condition
• Exterior features: Covered patio/porch; Front porch; Rear porch; Screened porch; Sprinkler (metered); Storage; Mature landscaping with oak trees

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (electric, heat pump); Central air conditioning
• Interior features: Ceiling fans; Crown molding; Eat-in kitchen; Split bedroom floorplan; Thermostat; Window treatments; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer hookup (electric); Washer and Dryer included; Laundry located in kitchen; Inside laundry; Laundry closet; Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-55 ($-660/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (7.5% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $120k (7.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#485 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D+, commute F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gulf Highlands Elementary School (math 29% / reading 32%, grade F, #1,862 of 2,144 statewide, top 88%, 714 students, 89% FRL); Hudson Academy (math 35% / reading 30%, grade F, #443 of 571 statewide, top 78%, 964 students, 80% FRL); Fivay High School (math 20% / reading 28%, grade F, #529 of 667 statewide, top 80%, 1,610 students, 78% FRL) — zoned schools average 82% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 51% district-wide (-22 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.3%/yr); 800 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $130k implies a 270% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,785 (7.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.26% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 6.6

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: -24.3%
• Equity multiple: 0.20×
• Total profit: $-28,958
• Equity at exit: $19,309

10-year hold

• IRR: -43.6%
• Equity multiple: -0.29×
• Total profit: $-46,946
• Equity at exit: $11,197

Cash invested: $36,260 (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 34667

• Rents YoY: -2.3%
• Active inventory: 800
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,627 high
• Mortgage (P&I): −$679
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$54
• HOA: −$445
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-55

Break-even live

Break-even rent $1,697

Max offer price $119,785

Occupancy floor 98%

Sensitivity live

Price	-10% $18	-5% $-18	+0% $-55	+5% $-92	+10% $-128
Rent	-10% $-184	-5% $-119	+0% $-55	+5% $9	+10% $74
Rate	-1.0pp $10	-0.5pp $-22	base $-55	+0.5pp $-89	+1.0pp $-123

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8305 Sandwedge Cir Unit A Hudson, FL	2.0	2.0	1144	$1,450	$1.27	23d	1	0.24mi
13102 Pembrook Ct Hudson, FL	2.0	2.0	1221	$1,575	$1.29	26d	1	0.30mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	1d	1	0.43mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	26d	1	0.43mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	26d	1	0.45mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,685	$2.21	0d	55	0.75mi
7602 Danube Dr Unit 7602 Hudson, FL	2.0	2.0	1125	$1,600	$1.42	26d	1	0.96mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,468	$1.33	4d	10	0.99mi
7616 Danube Dr Hudson, FL	2.0	2.0	1125	$1,350	$1.20	26d	1	1.00mi
12809 College Hill Dr Hudson, FL	3.0	2.0	1114	$1,780	$1.60	7d	1	1.06mi
7433 Greystone Dr #7433 Hudson, FL	2.0	2.0	1029	$1,300	$1.26	19d	1	1.10mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	19d	1	1.11mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	26d	1	1.11mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	26d	1	1.15mi
11635 Salmon Dr Port Richey, FL	2.0	1.5	816	$1,500	$1.84	26d	1	1.18mi
12702 Social Dr Hudson, FL	2.0	1.0	1032	$1,500	$1.45	7d	1	1.19mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	7d	1	1.22mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	23d	1	1.22mi
7300 Country Club Dr Hudson, FL	2.0	1.0	926	$1,400	$1.51	4d	1	1.23mi
12909 Litewood Dr Hudson, FL	3.0	2.0	1000	$1,645	$1.65	26d	1	1.30mi
12909 Litewood Dr Hudson, FL	3.0	2.0	984	$1,645	$1.67	19d	1	1.30mi
11630 Paige Dr Port Richey, FL	3.0	1.0	1152	$1,680	$1.46	14d	1	1.31mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	13d	1	1.38mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	26d	1	1.38mi
9723 Tom St Unit 9723 Hudson, FL	1.0	1.0	720	$1,300	$1.81	26d	1	1.39mi
9723 Tom St Hudson, FL	2.0	1.0	1152	$1,200	$1.04	19d	1	1.39mi
9723 Tom St Hudson, FL	1.0	1.0	720	$1,100	$1.53	5d	1	1.39mi
11610 Meadow Dr Port Richey, FL	2.0	2.0	1128	$1,570	$1.39	14d	1	1.39mi

HOA detail condo

• Monthly dues: $445 · $5,340/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $129,500 Active 89 DOM
2. 2026-06-17
   days on market $129,500 Active 88 DOM
3. 2026-06-16
   days on market $129,500 Active 87 DOM
4. 2026-06-15
   days on market $129,500 Active 86 DOM
5. 2026-06-13
   days on market $129,500 Active 84 DOM
6. 2026-06-09
   days on market $129,500 Active 80 DOM
7. 2026-06-08
   days on market $129,500 Active 79 DOM
8. 2026-06-07
   days on market $129,500 Active 78 DOM
9. 2026-06-04
   days on market $129,500 Active 75 DOM
10. 2026-06-03
    days on market $129,500 Active 74 DOM
11. 2026-06-02
    days on market $129,500 Active 73 DOM
12. 2026-06-01
    days on market $129,500 Active 72 DOM
13. 2026-05-31
    days on market $129,500 Active 71 DOM
14. 2026-04-08
    price $129,500
15. 2026-03-27
    status Active
16. 2026-03-26
    status Pending
17. 2026-03-20
    listed $139,900 Active
18. 2025-11-30
    price $158,900
19. 2025-06-04
    price $165,000
20. 2025-03-24
    listed $172,000 Active
21. 2011-12-19
    soldstatus $35,000
22. 2011-11-18
    soldstatus $35,000 293-char remark

    Show marketing remark (293 chars)

    Very nice golf course condo, Newer appliances, A/C newer (per owner 3 months), Located in 55+ Community, Close to all amenities, Beaches, Shrimp docks, churches, shopping. Lots of recreational facilities, includes use of two pools, Make offer. Partially furnished. Hurricane shutters included.

23. 2011-09-16
    listed $39,900 293-char remark

    Show marketing remark (293 chars)

    Very nice golf course condo, Newer appliances, A/C newer (per owner 3 months), Located in 55+ Community, Close to all amenities, Beaches, Shrimp docks, churches, shopping. Lots of recreational facilities, includes use of two pools, Make offer. Partially furnished. Hurricane shutters included.

24. 2011-09-12
    historical
25. 2010-10-22
    listed $49,900

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $1,952 · $163/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 · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,530
• − Mortgage interest: −$7,254
• − Property taxes: −$1,952
• − Insurance: −$648
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − HOA: −$5,340
• − Depreciation: −$3,767
• Taxable loss: −$2,555
• Est. tax savings @ 24.0%: +$613
• After-tax cash flow: $-47/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: Pasco
• NCES district ID: 1201530
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $45,039
• Composite: 43.14/100
• National rank: #3074
• State rank: #32 of 73 in FL

Livability — Bayonet Point

• Score: 69/100
• State rank: #485
• US rank: #8934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayonet Point, FL
• County: Pasco County · 524,098 people
• City population: 45,307
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 30,689
• Household income: $51,280
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 946.0

Population outlook (Pasco County) Hauer SSP2

• Today (2025): 570,045 people
• By 2030: 605,844 · +6.3%
• By 2040: 674,806 · +18.4%
• By 2050: 736,022 · +29.1%
• By 2075: 862,900 · +51.4%
• By 2100: 906,364 · +59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 0%

Political lean MEDSL · Pasco

• 2024 margin: Strong R (+25.2) · D 36.9% · R 62.1% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -3.6pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+20.1 2016: R+21.6 2012: R+6.7 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.96%
• Current HPI: 307.5552
• Rent YoY: ▼ -2.26%
• 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

+159.5% since first listed

12 events — show timeline

• 2026-04-08 Price Changed $129,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Price Changed $158,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-04 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-24 Listed $172,000 Stellar MLS as Distributed by MLS Grid
• 2011-12-19 Sold (Public Records) $35,000 Public Records
• 2011-11-18 Sold (MLS) $35,000 Stellar MLS as Distributed by MLS Grid
• 2011-09-16 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2011-09-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-10-22 Listed $49,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $1,952 · +5.9% YoY. Source: county tax records.