12130 Spartan Way · Bayonet Point, FL 34667

$150,000

2 bd · 2.0 ba · 1,103 sqft · Other · 1 Days on market

Built 1985 Fair condition

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.0/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice 1st floor condo HOA includes water, sewer, trash, lawn, cable and internet.

Key facts

• Built 1985

Property features AI

Exterior

• Home design: Built in 1985
• Construction: Living area approximately 1,103
• Exterior features: Located in The Hillside A Condominium

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.6% vs local median 5.3% in Bayonet Point — 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 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+, schools 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.
• Market conditions: Rents soft (-2.3%/yr); 790 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% 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 $1k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.12% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.25%
• DSCR: 1.37
• GRM: 7.5

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: -7.2%
• Equity multiple: 0.74×
• Total profit: $-10,799
• Equity at exit: $22,365

10-year hold

• IRR: -1.9%
• Equity multiple: 0.89×
• Total profit: $-4,611
• Equity at exit: $12,969

Cash invested: $42,000 (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 34667

• Rents YoY: -2.3%
• Active inventory: 790
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $289

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	17d	1	0.11mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	0.11mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	24d	1	0.15mi
7616 Danube Dr Hudson, FL	2.0	2.0	1125	$1,350	$1.20	24d	1	0.22mi
7602 Danube Dr Unit 7602 Hudson, FL	2.0	2.0	1125	$1,600	$1.42	24d	1	0.23mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	22d	1	0.42mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	5d	1	0.42mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,468	$1.33	2d	10	0.43mi
11630 Paige Dr Port Richey, FL	3.0	1.0	1152	$1,680	$1.46	12d	1	0.54mi
7433 Greystone Dr #7433 Hudson, FL	2.0	2.0	1029	$1,300	$1.26	17d	1	0.56mi
11610 Meadow Dr Port Richey, FL	2.0	2.0	1128	$1,570	$1.39	12d	1	0.56mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	11d	1	0.56mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	24d	1	0.56mi
7539 Gulf Highlands Dr Port Richey, FL	2.0	1.5	936	$1,550	$1.66	5d	1	0.58mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	0.60mi
7715 Sue Ellen Dr Port Richey, FL	2.0	2.0	1080	$1,495	$1.38	3d	1	0.61mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	24d	1	0.64mi
7608 Sue Ellen Dr Port Richey, FL	3.0	2.0	1310	$2,400	$1.83	24d	1	0.66mi
7804 Topay Ln Port Richey, FL	3.0	2.0	1125	$1,811	$1.61	5d	1	0.67mi
12702 Social Dr Hudson, FL	2.0	1.0	1032	$1,500	$1.45	5d	1	0.70mi
12809 College Hill Dr Hudson, FL	3.0	2.0	1114	$1,780	$1.60	5d	1	0.75mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$2,200	$1.52	24d	1	0.76mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$1,695	$1.17	20d	1	0.76mi
7520 Hawthorn Dr Unit NA Port Richey, FL	2.0	2.0	1303	$1,900	$1.46	24d	1	0.84mi
7520 Hawthorn Dr Port Richey, FL	2.0	2.0	1303	$1,800	$1.38	24d	1	0.84mi
7531 Greybirch Ter Port Richey, FL	3.0	2.0	1400	$2,000	$1.43	24d	1	0.85mi
7300 Country Club Dr Hudson, FL	2.0	1.0	926	$1,400	$1.51	2d	1	0.86mi
11241 Yewtree Ave Port Richey, FL	3.0	2.0	1306	$1,950	$1.49	24d	1	0.89mi
8161 Braddock Cir #1 Port Richey, FL	2.0	2.0	1000	$1,595	$1.59	17d	1	0.90mi
11635 Salmon Dr Port Richey, FL	2.0	1.5	816	$1,500	$1.84	24d	1	0.91mi
8305 Sandwedge Cir Unit A Hudson, FL	2.0	2.0	1144	$1,450	$1.27	22d	1	0.97mi
11138 Yellowwood Ln Unit NA Port Richey, FL	3.0	1.0	1000	$1,800	$1.80	24d	1	1.00mi
7540 Venice Dr Port Richey, FL	3.0	2.0	1394	$1,775	$1.27	5d	1	1.03mi
7705 Ilex Dr Port Richey, FL	3.0	2.0	1349	$2,000	$1.48	24d	1	1.06mi
12221 Holbrook Dr Bayonet Point, FL	1.0–2.0	1.0–2.0	761	$1,685	$2.21	1d	59	1.07mi
7213 Seward Dr Port Richey, FL	2.0	1.0	700	$1,500	$2.14	24d	1	1.16mi
11103 Harding Dr Unit 2 Port Richey, FL	2.0	1.0	760	$1,450	$1.91	20d	1	1.18mi
12535 3rd Isle Hudson, FL	2.0	2.0	1389	$2,600	$1.87	24d	1	1.28mi
10905 Kingsbridge Rd Port Richey, FL	3.0	2.0	1176	$1,566	$1.33	5d	1	1.28mi
13102 Pembrook Ct Hudson, FL	2.0	2.0	1221	$1,575	$1.29	24d	1	1.29mi

Listing history 1 events

1. 2026-05-26
   listed $150,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥114°F today · 25 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: $20,134
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − Depreciation: −$4,364
• Taxable income: $1,147
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $3,191/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.

Condition & rehab AI · 1 photo

Fair 40/100 Cosmetic rehab

A fair condition 1st floor condo with cosmetic repairs needed, particularly to the exterior siding and roof. Landscaping and interior paint updates would significantly enhance its value.

Repairs flagged

• Minor Exterior siding — Some discoloration and minor wear
• Minor Roof — Some discoloration

Value-add opportunities

• Both Landscaping — Improving curb appeal and enhancing the home's aesthetic
• Both Interior paint — Fresh paint can make the interior look more inviting and modern

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Some discoloration and minor wear	Minor	$500–3,000
Roof · Some discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Landscaping — Improving curb appeal and enhancing the home's aesthetic ↑
• Both Interior paint — Fresh paint can make the interior look more inviting and modern ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• 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

1 event — show timeline

• 2026-05-26 Listed $150,000 FSBO.com