1001 Starkey Rd #331 · Largo, FL 33771

$198,000

2 bd · 2.0 ba · 1,302 sqft · Manufactured public records · 50 Days on market

Built 1987 Est $244k · 19% under · waterfront $471/mo HOA · 23% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into a sun-drenched lifestyle in the Greater Tampa Bay area at Paradise Island, a premier 55+ community featuring this striking, newly listed 1987 home. This immaculate 1,302 sq. ft. residence offers a spacious 2-bedroom, 2-bathroom layout, providing the perfect blend of serene relaxation and effortless living. The property warmly welcomes up to two pets (up to 40 lbs each) to join their owners in this vibrant oasis. Experience the ultimate worry-free Florida retreat with a $471.40 monthly maintenance fee that bundles water, sewer, garbage, lawn care, cable, and high-speed internet into one easy package. Dive into a social whirlwind with amenities ranging from a shimmering pool and bub

Key facts

• New kraus sink
• Elegant wainscoting
• Motorized blinds

Tags

• WATERPROOF LAMINATE FLOORING
• STAINLESS STEEL APPLIANCES
• NEW KRAUS SINK
• EPOXY COUNTERTOPS
• MOTORIZED BLINDS
• ELEGANT WAINSCOTING

Property features AI

Finance

• Other: Partially furnished; Lease restrictions apply
• HOA & community: Has HOA (monthly fee required); Monthly HOA approximately $471.40; HOA includes cable TV, pool, internet, grounds maintenance, management, recreational facilities, sewer, trash, water, and escrow reserves; Association amenities: clubhouse, pool, recreation facilities, shuffleboard court, spa/hot tub; Buyer/association approval required; Senior community; Pets allowed with restrictions (max ~40 lbs)

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Manufactured home (double wide); Single-story; Faces south; Entry at one level
• Construction: Vinyl siding; Roof over; Crawlspace foundation; Shed(s) on property
• Exterior features: Enclosed patio/porch; Private mailbox; Sidewalks; Landscaped with trees; Paved areas

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Ice maker; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Thermostat; Walk-in closet(s); Window treatments; Aluminum window frames
• Laundry & utility: Washer and dryer included; Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $198k.

Deal economics

• At list price, monthly cash flow is $-20 ($-234/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (1.7% below list).
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $192k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.3% 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: Southern Oak Elementary School (math 63% / reading 49%, grade C+, #832 of 2,144 statewide, top 40%, 556 students, 61% FRL); Largo Middle School (math 38% / reading 35%, grade F, #405 of 571 statewide, top 72%, 882 students, 66% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL).
• Market conditions: Rents soft (-1.1%/yr); 225 active listings in the ZIP; 40 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 41% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 50 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $192,060 (3.0% 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 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.04% ✓
• Cap rate: 6.17%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $244,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Starkey Rd #476	0.00mi	2/2.0	1,199 (-8%)	3mo	$160,000	$133	84
1100 Belcher Rd S #366	0.52mi	2/2.0	1,300 (-0%)	3mo	$193,000	$148	73
1001 Starkey Rd #434	0.00mi	3/2.0 (+1)	1,475 (+13%)	0mo	$190,000	$129	73
1100 Belcher Rd S #760	0.52mi	2/2.0	1,321 (+2%)	1mo	$175,000	$132	73
1100 Belcher Rd S #105	0.52mi	2/2.0	1,290 (-1%)	7mo	$175,000	$136	68
1100 Belcher Rd S #473	0.52mi	2/2.0	1,372 (+5%)	3mo	$230,900	$168	65
1100 Belcher Rd S #469	0.52mi	2/2.0	1,390 (+7%)	3mo	$265,000	$191	62
1100 Belcher Rd S #783	0.52mi	2/2.0	1,352 (+4%)	10mo	$200,000	$148	61
1100 Belcher Rd S #749	0.52mi	2/2.0	1,200 (-8%)	2mo	$149,900	$125	61
1100 Belcher Rd S #558	0.52mi	2/2.0	1,222 (-6%)	7mo	$175,000	$143	60
1100 Belcher Rd S #123	0.52mi	2/2.0	1,208 (-7%)	5mo	$168,500	$139	59
1100 Belcher Rd S #232	0.52mi	2/2.0	1,152 (-12%)	2mo	$55,000	$48	55

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.29×
• Total profit: $-39,172
• Equity at exit: $29,522

10-year hold

• IRR: -26.2%
• Equity multiple: -0.05×
• Total profit: $-58,254
• Equity at exit: $17,119

Cash invested: $55,440 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 225
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$82
• HOA: −$471
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-20

Break-even live

Break-even rent $2,088

Max offer price $194,548

Occupancy floor 96%

Sensitivity live

Price	-10% $93	-5% $37	+0% $-20	+5% $-76	+10% $-132
Rent	-10% $-183	-5% $-101	+0% $-20	+5% $62	+10% $143
Rate	-1.0pp $80	-0.5pp $31	base $-20	+0.5pp $-71	+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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2871 S Pines Dr #24 Largo, FL	2.0	1.5	1048	$1,800	$1.72	26d	1	0.20mi
2820 S Pines Dr #132 Largo, FL	2.0	1.5	1048	$1,800	$1.72	0d	1	0.22mi
3030 Whispering Dr N Largo, FL	3.0	2.0	1348	$3,600	$2.67	26d	1	0.35mi
8775 Christie Dr Largo, FL	2.0	3.0	1300	$2,198	$1.69	19d	1	0.36mi
636 Lake Palms Dr Unit Stylish Largo, FL	3.0	2.0	1000	$2,200	$2.20	26d	1	0.41mi
960 Starkey Rd #8402 Largo, FL	2.0	2.0	1324	$2,200	$1.66	26d	1	0.42mi
960 Starkey Rd #8206 Largo, FL	3.0	2.0	1836	$2,700	$1.47	26d	1	0.44mi
960 Starkey Rd #5105 Largo, FL	2.0	2.0	1324	$2,295	$1.73	26d	1	0.46mi
3331 Whispering Dr N Largo, FL	2.0	2.0	1053	$2,190	$2.08	26d	1	0.46mi
960 Starkey Rd #10305 Largo, FL	2.0	2.0	1324	$2,200	$1.66	16d	1	0.52mi
779 34th St SE Unit 1319966P Largo, FL	2.0	1.0	990	$2,941	$2.97	9d	1	0.54mi
3135 Pine Tree Ave Unit A Largo, FL	2.0	1.0	923	$1,395	$1.51	23d	1	0.55mi
3135 Pine Tree Ave Largo, FL	2.0	1.0	923	$1,395	$1.51	13d	1	0.55mi
9122 Jakes Path Largo, FL	3.0	2.5	1461	$2,600	$1.78	26d	1	0.55mi
1200 Country Club Dr #6204 Largo, FL	3.0	2.0	1575	$2,600	$1.65	6d	1	0.56mi
1200 Country Club Dr #1502 Largo, FL	2.0	2.0	1320	$2,350	$1.78	6d	1	0.56mi
1200 Country Club Dr #3302 Largo, FL	2.0	2.0	1320	$2,200	$1.67	6d	1	0.56mi
1200 Country Club Dr #4102 Largo, FL	2.0	2.0	1324	$2,100	$1.59	6d	1	0.56mi
1601 Palm Way Largo, FL	3.0	1.0	1084	$1,950	$1.80	26d	1	0.56mi
2505 E Bay Dr Lot 77 Largo, FL	2.0	1.5	1080	$1,395	$1.29	22d	1	0.64mi
600 Starkey Rd Largo, FL	1.0–3.0	1.0–2.0	982	$1,774	$1.81	0d	24	0.66mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	6d	1	0.68mi
3022 Meadow Lake Ave Largo, FL	2.0	1.0	900	$1,450	$1.61	13d	1	0.68mi
44 Countryclub Dr #44 Largo, FL	2.0	2.0	1278	$2,300	$1.80	26d	1	0.73mi
2045 E Bay Dr Largo, FL	1.0–2.0	1.0–2.0	1114	$1,830	$1.64	0d	16	0.79mi
225 Country Club Dr #1404 Largo, FL	2.0	2.0	1440	$1,700	$1.18	6d	1	0.80mi
69 Country Club Dr Largo, FL	2.0	2.0	1278	$2,000	$1.56	26d	1	0.81mi
68 Country Club Dr Largo, FL	2.0	2.0	1396	$2,100	$1.50	26d	1	0.81mi
3717 137th Ave Largo, FL	3.0	2.0	1308	$2,650	$2.03	0d	1	0.81mi
84 21st Ter SE Unit 1502691P Largo, FL	3.0	2.0	1291	$5,895	$4.57	0d	1	0.83mi
3377 Sherwood Dr Unit A Largo, FL	2.0	1.0	1064	$1,650	$1.55	9d	1	0.95mi
14875 Cromwell Dr Clearwater, FL	3.0	2.0	1485	$2,195	$1.48	18d	1	0.96mi
200 Country Club Dr #1505 Largo, FL	3.0	2.0	1255	$1,980	$1.58	16d	1	0.99mi
301 Seacrest Dr Largo, FL	1.0–2.0	1.0–1.5	975	$1,625	$1.67	23d	1	1.10mi
9925 Ulmerton Rd #74 Largo, FL	2.0	1.5	1140	$1,800	$1.58	19d	1	1.13mi
11310 92nd St Largo, FL	3.0	2.0	1600	$3,100	$1.94	6d	1	1.16mi
101 Imperial Palm Dr Largo, FL	1.0–2.0	1.0–2.0	907	$1,810	$1.99	0d	34	1.18mi
221 Lake Ave NE Largo, FL	1.0–2.0	1.0–2.0	1095	$2,160	$1.97	0d	11	1.24mi
2227 Rose Ln Clearwater, FL	2.0	1.5	1200	$3,200	$2.67	26d	1	1.30mi
705 Redbud LN Largo, FL	1.0–2.0	1.0–2.0	986	$2,615	$2.65	0d	185	1.30mi

HOA detail

• Monthly dues: $471 · $5,652/yr
• Likely covers: watersewertrashinternetcablelandscapingpool

Listing history 14 events

1. 2026-06-22
   days on market $198,000 Active 50 DOM
2. 2026-06-18
   days on market $198,000 Active 47 DOM
3. 2026-06-17
   days on market $198,000 Active 46 DOM
4. 2026-06-16
   days on market $198,000 Active 45 DOM
5. 2026-06-15
   days on market $198,000 Active 44 DOM
6. 2026-06-13
   days on market $198,000 Active 42 DOM
7. 2026-06-09
   days on market $198,000 Active 38 DOM
8. 2026-06-08
   days on market $198,000 Active 37 DOM
9. 2026-06-07
   days on market $198,000 Active 36 DOM
10. 2026-06-04
    days on market $198,000 Active 33 DOM
11. 2026-06-03
    days on market $198,000 Active 32 DOM
12. 2026-06-01
    days on market $198,000 Active 30 DOM
13. 2026-05-31
    days on market $198,000 Active 29 DOM
14. 2026-05-03
    listed $198,000 Active

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $1,643 · $137/mo
• Expected delta: +$950/yr (+$79/mo · 136.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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: $24,761
• − Mortgage interest: −$11,091
• − Property taxes: −$694
• − Insurance: −$990
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − HOA: −$5,652
• − Depreciation: −$5,760
• Taxable loss: −$3,387
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $579/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): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% 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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

1 event — show timeline

• 2026-05-03 Listed $198,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-3.6%/yr

Latest (2025): $694 · +8.7% YoY. Source: county tax records.