12501 Ulmerton Rd #188 · Largo, FL 33774

$155,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 485 Days on market

Built 1980 3,594 sqft lot Est $168k · 8% under $320/mo HOA · 15% of rent

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Why this score? — see what drove the B- 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 +25.1/30.0
• ARV discount +11.1/15.0
• 1% rule +9.0/10.0
• DSCR +8.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW PRICE!!! Seller says GET IT SOLD!! ALL Offers Welcomed Welcome to this beautifully maintained, spacious, double-wide mobile home in the highly sought-after 55+ community of Glenwood Estates! This charming home boasts 2 large bedrooms, 2 bathrooms, and a thoughtful layout that maximizes space and comfort. The Master Suite is a true retreat, complete with a private en suite bathroom and a generous walk-in closet. The second bedroom offers two closets, including a walk-in with shelving, providing plenty of room for all your storage needs. The well-equipped kitchen sports a mid-century vibe with it's circular countertop and convenient breakfast bar. Catch the evening breeze or morning cup

Key facts

• Walk-in closet
• Covered carport
• 3,594 sq ft lot

Tags

• PRIVATE EN SUITE BATHROOM
• WALK-IN CLOSET
• FULLY-SCREENED FRONT PORCH
• COVERED CARPORT
• MAYTAG WASHER AND DRYER
• WHIRLPOOL REFRIGERATOR

Property features AI

Finance

• Other: Lease restrictions apply; Partially furnished
• Financial info: Monthly condo/association fee: $320 (listed); Total annual condo/association fees listed as $3,840; Association approval required; Association fee includes cable TV, pool, internet, grounds maintenance, management, recreational facilities, sewer, trash and water
• HOA & community: Has HOA with annual fee structure; Association amenities include cable TV, clubhouse, gated entry, park, pool and recreation facilities; Community features: clubhouse, park, pool, street lights, association-owned recreation, deed restrictions, golf carts allowed; Senior community; Pets allowed with limits (max weight ~20 lbs)

Exterior

• Parking: Carport with 2 spaces
• Security: Closed-circuit cameras; Security lights; Grip-accessible features
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Sewer connected; Water connected; Underground utilities; Other utilities
• Home design: Manufactured double-wide home; Single-story; Faces south; Completed condition; Crawlspace foundation with pillar/post/pier
• Construction: Vinyl siding; Metal roof; Built as double wide
• Exterior features: Covered, enclosed and screened front porch; Patio; Awning(s); Exterior lighting; Sliding doors; Storage; Shed(s), workshop and additional storage structures; Irrigation equipment; Mature landscaping; Level lot; Asphalt road frontage

Interior

• Kitchen: Dishwasher; Disposal; Exhaust fan; Microwave; Range; Range hood; Refrigerator; Water filtration system; Water purifier; Water softener; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Open floorplan; Thermostat; Walk-in closet(s); Window treatments
• Laundry & utility: Washer; Dryer; Laundry room (outside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• Market conditions: Rents rising (+2.0%/yr); 209 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); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 33% of the median local income ($79k/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 $5k 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 485 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $155k implies a 182% 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 $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 485 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.40% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.40%
• DSCR: 1.42
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $168,480
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12501 Ulmerton Rd #206	0.00mi	2/2.0	1,056 (-2%)	3mo	$165,000	$156	94
12501 Ulmerton Rd #122	0.00mi	2/2.0	1,035 (-4%)	0mo	$126,000	$122	93
12501 Ulmerton Rd #77	0.00mi	2/2.0	1,152 (+7%)	0mo	$185,000	$161	88
12501 Ulmerton Rd #10	0.00mi	2/2.0	1,086 (+1%)	14mo	$155,000	$143	88
12501 Ulmerton Rd #241	0.00mi	2/2.0	1,152 (+7%)	8mo	$170,000	$148	82
12501 Ulmerton Rd #129	0.00mi	2/2.0	960 (-11%)	3mo	$155,000	$161	79
12501 Ulmerton Rd #219	0.00mi	2/2.0	960 (-11%)	16mo	$179,000	$186	68

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 · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-5,379
• Equity at exit: $23,111

10-year hold

• IRR: 5.1%
• Equity multiple: 1.36×
• Total profit: $15,490
• Equity at exit: $13,402

Cash invested: $43,400 (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 33774

• Rents YoY: 2.0%
• Active inventory: 209
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$813
• Tax from tax record: −$174 /mo · $2,085/yr
• Insurance: −$65
• HOA: −$320
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $340

Break-even live

Break-even rent $1,736

Max offer price $155,000

Occupancy floor 79%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12800 Vonn Rd Largo, FL	1.0–2.0	1.0	810	$1,458	$1.80	2d	16	0.59mi
2503 Mary Sue St SW Largo, FL	3.0	2.0	1260	$2,211	$1.75	13d	1	0.61mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	7d	1	0.65mi
13125 Wilcox Rd Largo, FL	1.0–2.0	1.0–2.0	840	$1,830	$2.18	1d	8	0.66mi
13200 Wilcox Rd Largo, FL	2.0	2.0	932	$1,755	$1.88	3d	2	0.67mi
2316 Fulton Way Largo, FL	3.0	2.0	1209	$2,699	$2.23	3d	1	0.69mi
11980 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	16d	3	0.74mi
11980 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	0.74mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	7d	1	0.75mi
11960 133rd Ave Unit 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	0.75mi
11938 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	16d	1	0.76mi
11704 127th Ave Largo, FL	3.0	2.0	1311	$2,345	$1.79	4d	1	0.76mi
11938 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	24d	1	0.76mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	24d	1	0.77mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	24d	1	0.78mi
13300 Walsingham Rd Largo, FL	1.0–4.0	1.0–2.0	1060	$1,788	$1.69	24d	1	0.83mi
2200 Gladys St Largo, FL	1.0–2.0	1.0–1.5	677	$1,595	$2.35	24d	1	0.83mi
13584 Twig Ter Largo, FL	3.0	2.0	1278	$4,200	$3.29	4d	1	0.83mi
12497 136th Ln Largo, FL	3.0	2.0	1350	$2,950	$2.19	24d	1	0.87mi
3000 Karen Ave Largo, FL	2.0	1.0	888	$2,800	$3.15	24d	1	0.88mi
3000 Karen Ave Largo, FL	2.0	1.0	888	$2,450	$2.76	21d	1	0.88mi
1448 Oak St Largo, FL	2.0	2.0	1070	$2,300	$2.15	3d	1	0.92mi
1884 Pine St Largo, FL	3.0	1.5	1012	$2,499	$2.47	21d	1	0.98mi
1741 Trotter Rd Unit A Largo, FL	2.0	1.0	800	$1,350	$1.69	24d	1	1.02mi
1830 30th Ln SW Largo, FL	3.0	2.0	1400	$2,725	$1.95	13d	1	1.03mi
13250 Ridge Rd Unit 3B1 Largo, FL	3.0	2.0	1225	$1,975	$1.61	17d	1	1.06mi
3054 Adrian Ave Largo, FL	2.0	1.0	1059	$3,500	$3.31	3d	1	1.07mi
1628 Pine St Largo, FL	1.0	1.0	850	$1,650	$1.94	24d	1	1.10mi
2272 16th Ave SW Unit C Largo, FL	2.0	1.0	1031	$2,600	$2.52	24d	1	1.11mi
3115 Adrian Ave Largo, FL	1.0	1.0	1344	$1,695	$1.26	3d	1	1.13mi
13333 Ridge Rd Largo, FL	1.0–2.0	1.0–1.5	860	$1,765	$2.05	7d	1	1.15mi
11201 122nd Ave Largo, FL	1.0–2.0	1.0–2.0	867	$2,300	$2.65	4d	2	1.16mi
1635 Gladys St Unit 2 Largo, FL	3.0	1.0	1194	$1,900	$1.59	7d	1	1.16mi
1635 Gladys St Unit 2 Largo, FL	3.0	1.0	1200	$2,000	$1.67	16d	1	1.16mi
3223 Dryer Ave Largo, FL	2.0	1.0	1000	$1,800	$1.80	24d	1	1.22mi
14130 Rosemary Ln Largo, FL	2.0	1.5	880	$1,725	$1.96	20d	2	1.26mi
9 Jeff Rd Largo, FL	2.0	1.0	964	$2,150	$2.23	4d	1	1.29mi
2317 13th Ave SW Largo, FL	3.0	1.0	1189	$2,309	$1.94	16d	1	1.36mi
12100 Seminole Blvd Largo, FL	2.0	2.0	1050	$1,750	$1.67	24d	1	1.39mi
14283 Sharon Dr Largo, FL	3.0	2.0	1314	$2,590	$1.97	24d	1	1.48mi

HOA detail

• Monthly dues: $320 · $3,840/yr

Listing history 23 events

1. 2026-06-18
   days on market $155,000 Active 485 DOM
2. 2026-06-17
   days on market $155,000 Active 484 DOM
3. 2026-06-16
   days on market $155,000 Active 483 DOM
4. 2026-06-15
   days on market $155,000 Active 482 DOM
5. 2026-06-13
   days on market $155,000 Active 480 DOM
6. 2026-06-09
   days on market $155,000 Active 476 DOM
7. 2026-06-08
   days on market $155,000 Active 475 DOM
8. 2026-06-07
   days on market $155,000 Active 474 DOM
9. 2026-06-04
   days on market $155,000 Active 471 DOM
10. 2026-06-03
    days on market $155,000 Active 470 DOM
11. 2026-06-01
    days on market $155,000 Active 468 DOM
12. 2026-05-31
    days on market $155,000 Active 467 DOM
13. 2026-03-30
    price $155,000
14. 2026-01-02
    status Active
15. 2025-12-31
    historical
16. 2025-11-26
    price $165,000
17. 2025-11-12
    status Active
18. 2025-10-27
    status Pending
19. 2025-03-02
    price $175,000
20. 2025-01-31
    listed $185,000 Active
21. 1986-11-06
    soldstatus $55,000
22. 1985-08-01
    soldstatus $53,000
23. 1981-03-01
    soldstatus $9,400

ⓘ 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: $2,085 · $174/mo
• Projected year-2 tax: $2,085 · $174/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: $25,993
• − Mortgage interest: −$8,682
• − Property taxes: −$2,085
• − Insurance: −$775
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − HOA: −$3,840
• − Depreciation: −$4,509
• Taxable income: $1,943
• Est. tax owed @ 24.0%: −$466
• After-tax cash flow: $3,614/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

• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,799
• Household income: $79,139
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 546.0

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% Black 11% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 7% Lithuanian 4% Hispanic 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -383.61%
• Current HPI: 336.629
• Rent YoY: ▲ 2.01%
• 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

+1548.9% since first listed

11 events — show timeline

• 2026-03-30 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-26 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-02 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-31 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 1986-11-06 Sold (Public Records) $55,000 Public Records
• 1985-08-01 Sold (Public Records) $53,000 Public Records
• 1981-03-01 Sold (Public Records) $9,400 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,085 · +477.2% YoY. Source: county tax records.