4215 E Bay Dr Unit 1701B · Largo, FL 33764

$89,500

1 bd · 1.0 ba · 490 sqft · Condo public records · 137 Days on market

Built 1971 $565/mo HOA · 34% 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 +21.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW PRICE REDUCTION * * * One or more photo(s) has been virtually staged. * * * * Seller very motivated * * * Completely renovated first-floor condominium offering exceptional value, modern upgrades, and move-in-ready convenience in one of the area’s most desirable communities. Priced to sell and one of the best values in the neighborhood, this beautifully updated residence features a fully redesigned open-concept kitchen (2025), a stunning remodeled bathroom with large-format tile (2025), a new air-conditioning system (2025), and a new electrical panel (2025). Additional improvements include fresh interior paint, new luxury vinyl flooring, new kitchen cabinetry, sink, range,

Key facts

• Ground-floor condo
• Brand-new ac unit
• $565 HOA

Tags

• GROUND-FLOOR CONDO
• FULLY RENOVATED OPEN KITCHEN
• COMPLETELY REMODELED BATHROOM
• BRAND-NEW AC UNIT
• BRAND-NEW ELECTRICAL PANEL
• NEW LUXURY VINYL FLOORING

Property features AI

Finance

• Other: Unfurnished; Home warranty not provided
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA fee $565; Annual HOA fees $6,780; HOA includes cable TV, pool, escrow reserves fund, fidelity bond, insurance, structure maintenance, grounds maintenance, sewer, trash, water; Association amenities: clubhouse, laundry; Association approval required; Buyer approval required; No pets allowed

Exterior

• Parking: Guest parking
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Residential condominium; One story (unit on first floor); Faces southwest
• Construction: Block construction; Shingle roof; Slab foundation; Building/Unit 1701
• Exterior features: Enclosed patio/porch; Outdoor grill; Asphalt road access

Interior

• Kitchen: Cooktop; Disposal; Microwave; Refrigerator
• Bedrooms: 1 bedroom (ground floor unit)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen/family room combo; Open floorplan; Window treatments; Blinds
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.3% 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.
• Zoned schools: Frontier Elementary School (math 45% / reading 48%, grade D-, #1,223 of 2,144 statewide, top 57%, 651 students, 72% FRL); Fitzgerald Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,033 students, 62% FRL); Pinellas Park High School (math 28% / reading 35%, grade F, #424 of 667 statewide, top 64%, 1,919 students, 57% FRL) — zoned schools average 63% FRL vs 48% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-5.2%/yr); 262 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $619 of loan paydown is wiped out by about $3k 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 137 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $90k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: 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 $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1971 — 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. 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: 1.85% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 4.5

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: -12.4%
• Equity multiple: 0.57×
• Total profit: $-10,703
• Equity at exit: $13,345

10-year hold

• IRR: -14.7%
• Equity multiple: 0.37×
• Total profit: $-15,883
• Equity at exit: $7,738

Cash invested: $25,060 (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 33764

• Rents YoY: -5.2%
• Active inventory: 262
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,652 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$103 /mo · $1,240/yr
• Insurance: −$37
• HOA: −$565
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $130

Break-even live

Break-even rent $1,487

Max offer price $89,500

Occupancy floor 87%

Sensitivity live

Price	-10% $181	-5% $155	+0% $130	+5% $105	+10% $79
Rent	-10% $-1	-5% $65	+0% $130	+5% $195	+10% $260
Rate	-1.0pp $175	-0.5pp $153	base $130	+0.5pp $107	+1.0pp $83

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15672 US Hwy 19 N Clearwater, FL	—	1.0	300	$2,099	$7.00	9d	1	0.75mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-22
   days on market $89,500 Active 137 DOM
2. 2026-06-18
   days on market $89,500 Active 134 DOM
3. 2026-06-17
   days on market $89,500 Active 133 DOM
4. 2026-06-16
   days on market $89,500 Active 132 DOM
5. 2026-06-15
   days on market $89,500 Active 131 DOM
6. 2026-06-13
   pricedays on market $89,500 Active 129 DOM
7. 2026-06-09
   days on market $95,000 Active 125 DOM
8. 2026-06-08
   days on market $95,000 Active 124 DOM
9. 2026-06-08
   price $95,000 Active 123 DOM
10. 2026-06-07
    days on market $97,000 Active 123 DOM
11. 2026-06-04
    days on market $97,000 Active 120 DOM
12. 2026-06-03
    days on market $97,000 Active 119 DOM
13. 2026-06-01
    days on market $97,000 Active 117 DOM
14. 2026-05-31
    days on market $97,000 Active 116 DOM
15. 2026-04-03
    price $97,000
16. 2026-03-01
    price $98,500
17. 2026-02-05
    listed $109,000 Active
18. 2026-02-01
    historical
19. 2026-01-05
    listed $112,995 Active
20. 2025-11-03
    historical
21. 2025-10-03
    price $126,900
22. 2025-09-11
    price $127,000
23. 2025-09-04
    price $129,500
24. 2025-08-18
    listed $129,995 Active
25. 2025-07-17
    soldstatus $53,000
26. 2025-07-11
    soldstatus $53,000 Closed
27. 2025-06-23
    status Pending
28. 2025-03-07
    listed $75,000 Active
29. 1987-07-30
    soldstatus $25,000
30. 1984-12-01
    soldstatus $32,900

ⓘ 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: $1,240 · $103/mo
• Projected year-2 tax: $1,240 · $103/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,821
• − Mortgage interest: −$5,013
• − Property taxes: −$1,240
• − Insurance: −$448
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − HOA: −$6,780
• − Depreciation: −$2,604
• Taxable income: $565
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $1,423/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

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 170,933
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,311
• Household income: $67,256
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1118.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% German 2%
• Foreign-born: 14% · Canada, Jamaica, Vietnam
• Languages at home: 80% English-only · Spanish 10% Russian/Polish/Slavic 4% Other Indo-European 2%

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: ▼ -350.08%
• Current HPI: 315.4133
• Rent YoY: ▼ -5.24%
• 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

+194.8% since first listed

16 events — show timeline

• 2026-04-03 Price Changed $97,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-01 Price Changed $98,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-05 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Listed $112,995 Stellar MLS as Distributed by MLS Grid
• 2025-11-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-03 Price Changed $126,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-11 Price Changed $127,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-04 Price Changed $129,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-18 Listed $129,995 Stellar MLS as Distributed by MLS Grid
• 2025-07-17 Sold (Public Records) $53,000 Public Records
• 2025-07-11 Sold (MLS) $53,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-07 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 1987-07-30 Sold (Public Records) $25,000 Public Records
• 1984-12-01 Sold (Public Records) $32,900 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,240 · +3.4% YoY. Source: county tax records.