7701 Starkey Rd #408 · Bardmoor, FL 33777

$125,000

2 bd · 2.0 ba · 956 sqft · Condo public records · 240 Days on market

Built 1978 $494/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 +24.1/30.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Major Price Improvement, bring an offer!! This a furnished 2nd floor unit, so no need to worry about noisy neighbors above you! Nice private balcony that includes an exterior storage closet. The Boulevard Club is a wonderful 55+ community, with many amenities. Enjoy two heated pools, tennis and pickleball courts, shuffleboard, and a clubhouse! With assigned and guest parking, three on-site laundry buildings, and HOA fees covering water, sewer, trash, and even cable/internet, you'll find everything you need for comfortable living. This is the place to enjoy your golden years. The complex is close to beautiful sandy beaches and great restaurants. Call me for a private showing. Don't let this

Key facts

• $494 HOA
• Community pool
• Built 1978

Property features AI

Finance

• Other: Unit is furnished; Community directions: Park Blvd West to North on Starkey Rd; turn into community entrance; Boulevard Club is on the east side; drive to Building 12
• Financial info: Total annual fees reported as $5,928; Lease restrictions: none indicated
• HOA & community: HOA managed by Resource Property Management; Monthly condo/HOA fee of $494 (includes cable TV, pool, escrow reserves fund, maintenance, private road, recreational facilities, sewer, trash, water); Association approval required; Buyer approval required; Clubhouse; Tennis courts; Association-owned recreational facilities; Senior community; Pets not allowed

Exterior

• Parking: No truck/RV/motorcycle parking in community
• Utilities: Public sewer; Cable available and connected; Electricity available and connected; No water source listed
• Home design: Condominium; Residential property; 2 total stories in building; Faces east; One level unit
• Construction: Frame construction; Metal roof; Other foundation
• Exterior features: Exterior lighting; In-ground pool; Community pool

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Disposal; Exhaust fan
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan; Second-floor unit
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.5% in Bardmoor — 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 79/100 on livability (#141 in FL, #2,118 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: schools 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.
• Market conditions: Rents flat; 192 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $864 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 240 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $125k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.51% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.74×
• Total profit: $-9,054
• Equity at exit: $18,638

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-5,266
• Equity at exit: $10,808

Cash invested: $35,000 (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 33777

• Rents YoY: 0.4%
• Active inventory: 192
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$656
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$52
• HOA: −$494
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $247

Break-even live

Break-even rent $1,580

Max offer price $125,000

Occupancy floor 82%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7701 Starkey Rd Largo, FL	1.0	1.0	615	$1,600	$2.60	14d	5	0.07mi
8892 79th Pl Seminole, FL	3.0	1.0	912	$2,600	$2.85	4d	1	0.20mi
7770 Starkey Rd Seminole, FL	2.0	1.0	1035	$1,538	$1.49	1d	4	0.23mi
9295 Starkey Rd Seminole, FL	3.0	1.0	984	$1,950	$1.98	24d	1	1.03mi
8096 Rose Ter Seminole, FL	3.0	2.0	980	$2,000	$2.04	17d	1	1.07mi
8574 94th Ave Seminole, FL	3.0	1.0	840	$2,000	$2.38	3d	1	1.07mi
8574 94th Ave Seminole, FL	3.0	1.0	840	$2,000	$2.38	7d	1	1.07mi
9319 91st Ter Seminole, FL	3.0	2.0	952	$2,549	$2.68	24d	1	1.08mi
9435 Lynn Ln Unit B Seminole, FL	2.0	1.0	960	$1,495	$1.56	24d	1	1.21mi
8800 Bardmoor Blvd Seminole, FL	1.0–2.0	1.5–2.5	1045	$1,950	$1.87	11d	2	1.24mi
2103 Cordova Grn Unit 2103 Seminole, FL	1.0	1.0	775	$1,500	$1.94	24d	1	1.24mi
8372 Candlewood Rd Seminole, FL	1.0	1.0	850	$1,650	$1.94	24d	1	1.25mi
8703 Bardmoor Blvd #201 Seminole, FL	2.0	2.0	1075	$3,000	$2.79	24d	1	1.28mi
9563 Lynn Ln Seminole, FL	2.0	1.0	960	$1,495	$1.56	16d	1	1.28mi
8304 Bardmoor Blvd #104 Seminole, FL	1.0	1.0	700	$1,599	$2.28	3d	1	1.29mi
5980 80th St N #205 St Petersburg, FL	2.0	2.0	1100	$1,950	$1.77	3d	1	1.30mi
9860 62nd Ter N #1048 Saint Petersburg, FL	2.0	2.0	1020	$1,750	$1.72	24d	1	1.32mi
9700 Starkey Rd #322 Seminole, FL	1.0	1.0	700	$1,499	$2.14	21d	1	1.33mi
5750 80th St N St Petersburg, FL	1.0–2.0	1.0–1.5	987	$1,800	$1.82	24d	2	1.35mi
10032 65th Ave N #24 Saint Petersburg, FL	2.0	2.0	1010	$1,650	$1.63	24d	1	1.36mi
9950 62nd Ter N #305 Saint Petersburg, FL	2.0	2.0	1120	$1,450	$1.29	24d	1	1.37mi
10405 Addison Way Seminole, FL	1.0–3.0	1.0–2.0	1133	$2,351	$2.08	1d	18	1.37mi
10037 62nd Ter St. Petersburg, FL	1.0	1.0	790	$1,500	$1.90	24d	1	1.39mi
10037 62nd Ter N #15 Saint Petersburg, FL	2.0	1.0	790	$1,400	$1.77	17d	1	1.39mi
10036 63rd Ave N #23 Saint Petersburg, FL	2.0	1.0	1010	$1,550	$1.53	16d	1	1.39mi
10035 63rd Ave N #18 Saint Petersburg, FL	2.0	1.0	1010	$2,125	$2.10	24d	1	1.39mi
5725 80th St N #210 Saint Petersburg, FL	2.0	2.0	1125	$1,900	$1.69	24d	1	1.39mi
10038 62nd Ter N #17 Saint Petersburg, FL	2.0	1.0	1010	$1,400	$1.39	2d	1	1.41mi
5530 80th St N Unit C204 Saint Petersburg, FL	1.0	1.0	880	$1,450	$1.65	24d	1	1.48mi
8303 Bardmoor Blvd Seminole, FL	2.0	1.0	880	$1,850	$2.10	11d	1	1.49mi
6468 Bonnie Bay Cir N Pinellas Park, FL	2.0	2.0	970	$1,800	$1.86	13d	1	1.49mi

HOA detail condo

• Monthly dues: $494 · $5,928/yr
• Likely covers: watersewertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 240 DOM
2. 2026-06-17
   days on market $125,000 Active 239 DOM
3. 2026-06-16
   days on market $125,000 Active 238 DOM
4. 2026-06-15
   days on market $125,000 Active 237 DOM
5. 2026-06-13
   days on market $125,000 Active 235 DOM
6. 2026-06-09
   days on market $125,000 Active 231 DOM
7. 2026-06-08
   days on market $125,000 Active 230 DOM
8. 2026-06-07
   days on market $125,000 Active 229 DOM
9. 2026-06-04
   days on market $125,000 Active 226 DOM
10. 2026-06-03
    days on market $125,000 Active 225 DOM
11. 2026-06-01
    days on market $125,000 Active 223 DOM
12. 2026-05-31
    days on market $125,000 Active 222 DOM
13. 2026-01-09
    price $139,900
14. 2025-12-30
    price $145,000
15. 2025-12-02
    price $149,900
16. 2025-10-21
    listed $169,900 Active
17. 1994-11-03
    soldstatus $38,500

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$483/yr (+$40/mo · 87.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 57% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,709
• − Mortgage interest: −$7,002
• − Property taxes: −$555
• − Insurance: −$625
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − HOA: −$5,928
• − Depreciation: −$3,636
• Taxable income: $1,330
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $2,647/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 — Bardmoor

• Score: 79/100
• State rank: #141
• US rank: #2118

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bardmoor, FL
• County: Pinellas County · 939,478 people
• City population: 18,276
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 18,582
• Household income: $86,375
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 295.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 12% Two or more races 10% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 9% Russian/Polish/Slavic 2% Vietnamese 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: ▼ -434.44%
• Current HPI: 306.9614
• Rent YoY: ▲ 0.41%
• 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

+263.4% since first listed

5 events — show timeline

• 2026-01-09 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-02 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-21 Listed $169,900 Stellar MLS as Distributed by MLS Grid
• 1994-11-03 Sold (Public Records) $38,500 Public Records

Property tax history

-4.4%/yr

Latest (2025): $555 · +6.3% YoY. Source: county tax records.