7233 Greystone Dr · Bayonet Point, FL 34667

$124,900

2 bd · 2.0 ba · 1,029 sqft · Condo public records · 42 Days on market

Built 1986 $465/mo HOA · 27% 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 +19.1/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

Key facts

• $465 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Unfurnished; Unit number: 1
• Financial info: Total annual fees $5,580; Lease restrictions apply
• HOA & community: Monthly condo fee $465; Association: Management and Associates; Association approval required; Association amenities: Clubhouse, Fitness Center, Pool, Tennis Courts; Association fee includes: Common area taxes, Pool, Escrow reserves, Internet, Structure maintenance, Grounds maintenance, Management, Recreational facilities, Trash; Community features: Buyer approval required, Clubhouse, Deed restrictions, Fitness Center, Irrigation with reclaimed water, Pool, Sidewalks, Tennis Courts; Senior community; Pets allowed with number limit

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium (residential); One story; Faces east; First-floor unit
• Construction: Block and stucco construction; Shingle roof; Block foundation; Built with masonry materials
• Exterior features: Sidewalk; Sliding doors; Paved road

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile; Block foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Inside laundry

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 $133 ($2k/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: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 24d 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 40% 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 $864 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

• It's been on market 42 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $53k; list at $125k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 6.1

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: -13.7%
• Equity multiple: 0.53×
• Total profit: $-16,567
• Equity at exit: $18,623

10-year hold

• IRR: -13.2%
• Equity multiple: 0.37×
• Total profit: $-21,987
• Equity at exit: $10,799

Cash invested: $34,972 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,718 high
• Mortgage (P&I): −$655
• Tax from tax record: −$53 /mo · $631/yr
• Insurance: −$52
• HOA: −$465
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $133

Break-even live

Break-even rent $1,550

Max offer price $124,900

Occupancy floor 87%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12702 Social Dr Hudson, FL	2.0	1.0	1032	$1,500	$1.45	5d	1	0.16mi
7433 Greystone Dr #7433 Hudson, FL	2.0	2.0	1029	$1,300	$1.26	18d	1	0.21mi
7300 Country Club Dr Hudson, FL	2.0	1.0	926	$1,400	$1.51	3d	1	0.29mi
12809 College Hill Dr Hudson, FL	3.0	2.0	1114	$1,780	$1.60	5d	1	0.34mi
7616 Danube Dr Hudson, FL	2.0	2.0	1125	$1,350	$1.20	24d	1	0.48mi
7602 Danube Dr Unit 7602 Hudson, FL	2.0	2.0	1125	$1,600	$1.42	24d	1	0.50mi
12535 3rd Isle Hudson, FL	2.0	2.0	1389	$2,600	$1.87	24d	1	0.66mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	18d	1	0.69mi
12041 Hoosier Ct #204 Hudson, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	0.69mi
12027 Hoosier Ct #203 Hudson, FL	2.0	2.0	1103	$1,550	$1.41	24d	1	0.71mi
13128 Beacon Ct Hudson, FL	2.0	2.0	1070	$1,600	$1.50	24d	1	0.90mi
13315 Neptune Dr Hudson, FL	2.0	1.0	900	$2,000	$2.22	24d	1	0.96mi
7539 Gulf Highlands Dr Port Richey, FL	2.0	1.5	936	$1,550	$1.66	5d	1	1.02mi
13428 Neptune Dr Hudson, FL	3.0	2.0	1258	$2,450	$1.95	24d	1	1.05mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	5d	1	1.07mi
7924 Halsey Dr Port Richey, FL	3.0	2.0	1272	$1,800	$1.42	22d	1	1.07mi
8304 Mill Creek Ln Hudson, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	1.08mi
13240 Starfish Dr Hudson, FL	2.0	1.0	1155	$2,000	$1.73	24d	1	1.09mi
13847 Maria Dr Hudson beach34674, FL	3.0	2.0	1448	$3,000	$2.07	24d	1	1.10mi
7608 Sue Ellen Dr Port Richey, FL	3.0	2.0	1310	$2,400	$1.83	24d	1	1.11mi
12200 Hudson Ridge Dr Port Richey, FL	2.0–3.0	2.0	1107	$1,468	$1.33	3d	10	1.12mi
8312 Mill Creek Ln Hudson, FL	2.0	2.0	1152	$1,600	$1.39	24d	1	1.13mi
6623 Boatyard Dr Hudson, FL	2.0	2.0	1208	$2,500	$2.07	18d	1	1.13mi
7715 Sue Ellen Dr Port Richey, FL	2.0	2.0	1080	$1,495	$1.38	4d	1	1.13mi
8305 Sandwedge Cir Unit A Hudson, FL	2.0	2.0	1144	$1,450	$1.27	22d	1	1.15mi
11610 Meadow Dr Port Richey, FL	2.0	2.0	1128	$1,570	$1.39	13d	1	1.17mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	11d	1	1.17mi
11611 Constance Dr Port Richey, FL	3.0	1.0	984	$1,540	$1.57	24d	1	1.17mi
11630 Paige Dr Port Richey, FL	3.0	1.0	1152	$1,680	$1.46	13d	1	1.18mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$2,200	$1.52	24d	1	1.18mi
7530 Judith Cres Port Richey, FL	2.0	2.0	1446	$1,695	$1.17	20d	1	1.18mi
13617 Frances Ave Hudson, FL	2.0	1.0	1025	$1,850	$1.80	15d	1	1.19mi
7804 Topay Ln Port Richey, FL	3.0	2.0	1125	$1,811	$1.61	5d	1	1.22mi
7520 Hawthorn Dr Unit NA Port Richey, FL	2.0	2.0	1303	$1,900	$1.46	24d	1	1.25mi
7520 Hawthorn Dr Port Richey, FL	2.0	2.0	1303	$1,800	$1.38	24d	1	1.25mi
11430 Rohrman Rd Port Richey, FL	1.0	1.0	700	$1,000	$1.43	5d	1	1.27mi
7531 Greybirch Ter Port Richey, FL	3.0	2.0	1400	$2,000	$1.43	24d	1	1.28mi
6731 Sandra Dr Port Richey, FL	2.0	1.0	816	$1,575	$1.93	24d	1	1.38mi
11241 Yewtree Ave Port Richey, FL	3.0	2.0	1306	$1,950	$1.49	24d	1	1.39mi
7213 Seward Dr Port Richey, FL	2.0	1.0	700	$1,500	$2.14	24d	1	1.42mi

HOA detail condo

• Monthly dues: $465 · $5,580/yr
• Likely covers: cablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-09
   days on market $124,900 Active 42 DOM
2. 2026-06-08
   days on market $124,900 Active 41 DOM
3. 2026-06-07
   days on market $124,900 Active 40 DOM
4. 2026-06-04
   days on market $124,900 Active 37 DOM
5. 2026-06-03
   days on market $124,900 Active 36 DOM
6. 2026-06-02
   days on market $124,900 Active 35 DOM
7. 2026-06-01
   days on market $124,900 Active 34 DOM
8. 2026-05-31
   days on market $124,900 Active 33 DOM
9. 2026-04-28
   listed $124,900 Active
10. 2014-08-25
    soldstatus $53,000
11. 2014-08-18
    soldstatus $53,000 Sold 259-char remark

    Show marketing remark (259 chars)

    Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

12. 2014-06-14
    historical Contingent - Financing 259-char remark

    Show marketing remark (259 chars)

    Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

13. 2014-06-10
    historical 259-char remark

    Show marketing remark (259 chars)

    Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

14. 2014-05-14
    historical Contingent - Financing 259-char remark

    Show marketing remark (259 chars)

    Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

15. 2013-10-23
    listed $59,900 Active 259-char remark

    Show marketing remark (259 chars)

    Beacon Woods - Impeccable Villa - 2 Bedrooms, 2 Bath, Split Bedroom Plan, Eat-In Kitchen, Ceramic Tile, Glass Enclosed Lanai, Great Location, Close to All Conveniences, Enjoy Beacon Woods, Clubhouse, Heated Pool & Recreation, Absolute Move-In Condition.

ⓘ 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: $631 · $53/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$406/yr (+$34/mo · 64.3%)

ⓘ 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) · 52% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥114°F today · 23 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: $20,619
• − Mortgage interest: −$6,996
• − Property taxes: −$631
• − Insurance: −$624
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − HOA: −$5,580
• − Depreciation: −$3,633
• Taxable loss: −$145
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $1,629/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: 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

+108.5% since first listed

7 events — show timeline

• 2026-04-28 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 2014-08-25 Sold (Public Records) $53,000 Public Records
• 2014-08-18 Sold (MLS) $53,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-14 Contingent — Stellar MLS as Distributed by MLS Grid
• 2014-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-05-14 Contingent — Stellar MLS as Distributed by MLS Grid
• 2013-10-23 Listed $59,900 Stellar MLS as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2025): $631 · +1.9% YoY. Source: county tax records.