15010 113th Ave N #48 · Largo, FL 33774

$120,000

2 bd · 1.0 ba · 686 sqft · Manufactured public records · 97 Days on market

Built 1984 $140/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to Coquina Cove, a resident-owned waterfront 55+ co-op community in Largo located approximately 10 minutes from the shores of Indian Rocks Beach. This charming home offers a unique outdoor feature: a private rear deck off the primary bedroom, ideal for relaxing in the coastal breeze. THE HOME: This well-maintained 2-bedroom residence features several recent updates, including a new roof installed in 2023 with foam insulation. Six double-pane windows were installed in 2023, the mini-split AC system was replaced in 2023, and vinyl flooring was installed in 2025. The washer and dryer were replaced in 2025. The interior includes a functional eat-in kitchen that flows into a bright livin

Key facts

• Mini-split ac system
• Vinyl flooring
• Eat-in kitchen

Tags

• PRIVATE REAR DECK
• NEW ROOF
• DOUBLE-PANE WINDOWS
• MINI-SPLIT AC SYSTEM
• VINYL FLOORING
• EAT-IN KITCHEN

Property features AI

Finance

• Other: Lot size approximately 4.77 acres
• Financial info: Lease restrictions apply; Total monthly fees $140; Total annual fees $1,680; Partially furnished
• HOA & community: Monthly association fee $140 (includes grounds maintenance, sewer, trash, water); Buyer approval required; Senior community; Pets not allowed; Association approval required

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (single wide); Residential property; Completed condition; East-facing; One story; Entry on crawlspace
• Construction: Vinyl siding; Membrane roof; Crawlspace foundation
• Exterior features: Deck; Private mailbox; Asphalt road access

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; Mini-split cooling unit(s)
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Electric water heater; Outside laundry

🏢 Co-op / cooperative unit. The $120,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 35% 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 $830 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $49k; list at $120k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.92% ✓
• Cap rate: 14.82%
• Cash-on-cash: 30.45%
• DSCR: 2.35
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $5,794
• Equity at exit: $17,892

10-year hold

• IRR: 12.8%
• Equity multiple: 1.96×
• Total profit: $32,389
• Equity at exit: $10,375

Cash invested: $33,600 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,305 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$149 /mo · $1,791/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$140
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $426

Break-even live

Break-even rent $1,766

Max offer price $120,000

Occupancy floor 77%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14531 Walsingham Rd Largo, FL	2.0	1.0–2.0	657	$2,600	$3.96	24d	3	0.65mi
206 Bates Ave Unit E Indian Rocks Beach, FL	1.0	1.0	600	$1,945	$3.24	4d	1	0.93mi
720 E Gulf Blvd Unit B Indian Rocks Beach, FL	2.0	1.0	748	$2,600	$3.48	20d	1	0.95mi
12760 Indian Rocks Rd Largo, FL	1.0–2.0	1.0–2.0	923	$2,500	$2.71	4d	6	1.20mi

HOA detail

• Monthly dues: $140 · $1,680/yr
• Likely covers: water

Listing history 14 events

1. 2026-06-18
   days on market $120,000 Active 97 DOM
2. 2026-06-17
   days on market $120,000 Active 96 DOM
3. 2026-06-16
   days on market $120,000 Active 95 DOM
4. 2026-06-15
   days on market $120,000 Active 94 DOM
5. 2026-06-13
   days on market $120,000 Active 92 DOM
6. 2026-06-09
   days on market $120,000 Active 88 DOM
7. 2026-06-08
   days on market $120,000 Active 87 DOM
8. 2026-06-07
   days on market $120,000 Active 86 DOM
9. 2026-06-04
   days on market $120,000 Active 83 DOM
10. 2026-06-03
    days on market $120,000 Active 82 DOM
11. 2026-06-01
    days on market $120,000 Active 80 DOM
12. 2026-05-31
    days on market $120,000 Active 79 DOM
13. 2026-03-13
    listed $120,000 Active
14. 2021-04-07
    soldstatus $49,000

ⓘ 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: $1,791 · $149/mo
• Projected year-2 tax: $1,791 · $149/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 10/10 Extreme FEMA zone AE · 99% 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: $27,662
• − Mortgage interest: −$6,722
• − Property taxes: −$1,791
• − Insurance: −$5,718
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − HOA: −$1,680
• − Depreciation: −$3,491
• Taxable income: $3,834
• Est. tax owed @ 24.0%: −$920
• After-tax cash flow: $4,192/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

+144.9% since first listed

2 events — show timeline

• 2026-03-13 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2021-04-07 Sold (Public Records) $49,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,791 · +20.4% YoY. Source: county tax records.