400 Glennes Ln #206 · Dunedin, FL 34698

$85,000

2 bd · 1.0 ba · 965 sqft · Condo public records · 215 Days on market

Built 1969 $800/mo HOA · 40% of rent

---

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 +21.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Dunedin condo ready for immediate occupancy. Estate sale. Second floor unit across the street from the clubhouse and community pool. Elevator and laundry room down the hall. Neutral colors and paint in good condition. Updated ceramic tile in kitchen, bathroom and foyer. Newer carpet in balance of condo. Updated appliances. Refrigerator replaced in July of 2009. Wall oven, dishwasher, stove hood and disposal replaced in November of 2010. The a/c system appears to be newer. Large Florida room. Douglas Arms is at the edge of wonderful downtown Dunedin and across the street from the local hospital.

Key facts

• Florida room
• Heated pool
• $800 HOA

Tags

• FLORIDA ROOM
• LAUNDRY FACILITIES ON-SITE
• HEATED POOL
• CLUBHOUSE FOR SOCIAL EVENTS
• ASSIGNED PARKING SPACE
• SHORT STROLL TO DOWNTOWN

Property features AI

Finance

• Other: Unfurnished; Third party listing; Directions: From Main St (FL-580) turn South on New York Ave then left onto Glennes Lane; Building 400 Edinburgh is the 2nd building on the right.
• Financial info: Land lease: $131; Total annual fees: $9,600; Total monthly fees: $800
• HOA & community: Monthly condo fee: $800 (includes cable TV, common area taxes, escrow reserves, insurance, internet, structure and grounds maintenance, pest control, pool, sewer, trash, water); Association amenities: Clubhouse, maintenance, pool, shuffleboard court; Community features: Buyer approval required, clubhouse, community mailbox, pool, sidewalks; Senior community; Pets not allowed; Association contact: Candice Kruse

Exterior

• Utilities: Public water; Public sewer; Cable available; High-speed internet/BB available; Electricity available; Sewer connected; Water connected
• Home design: Condominium; Residential property; Facing east; One level unit in a 3-story building; Unit located on floor 2
• Construction: Frame construction; Shingle roof; Block foundation; Building name/number: 400 EDINBURGH; Built as completed condition
• Exterior features: Outdoor grill; Sidewalk

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator; Disposable garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms (unit on 2nd floor)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room/dining room combo; Thermostat; Blinds; Building has elevator
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $85k.

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 $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.8% in Dunedin — 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 86/100 on livability (#15 in FL, #411 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: employment C-, amenities D.
• 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 (+2.7%/yr); 478 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); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 32% of the median local income ($74k/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 $588 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 215 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $30k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $85k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 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 1969 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 2.36% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.69% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-5,539
• Equity at exit: $12,674

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $5,602
• Equity at exit: $7,349

Cash invested: $23,800 (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 34698

• Rents YoY: 2.7%
• Active inventory: 478
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$446
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$35
• HOA: −$800
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $130

Break-even live

Break-even rent $1,841

Max offer price $85,000

Occupancy floor 89%

Sensitivity live

Price	-10% $178	-5% $154	+0% $130	+5% $106	+10% $82
Rent	-10% $-28	-5% $51	+0% $130	+5% $209	+10% $289
Rate	-1.0pp $173	-0.5pp $152	base $130	+0.5pp $108	+1.0pp $86

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Patricia Ave Dunedin, FL	1.0	1.0	550	$1,800	$3.27	24d	1	0.18mi
841 Patricia Ave Dunedin, FL	2.0	1.0–2.0	904	$1,950	$2.16	17d	2	0.21mi
841 Patricia Ave #103 Dunedin, FL	2.0	1.0	874	$2,000	$2.29	24d	1	0.21mi
612 Bass Ct Dunedin, FL	1.0–2.0	1.0	698	$2,031	$2.91	2d	6	0.34mi
580 Skinner Blvd Unit 4 Dunedin, FL	2.0	1.0	750	$2,045	$2.73	24d	1	0.38mi
1187 Bass Blvd Unit C Dunedin, FL	2.0	1.0	850	$1,850	$2.18	18d	1	0.38mi
1187 Bass Blvd Unit A Dunedin, FL	2.0	1.0	850	$1,850	$2.18	24d	1	0.38mi
941 Highland Ave Unit D Dunedin, FL	1.0	1.0	1000	$1,300	$1.30	20d	1	0.45mi
525 Bay St Dunedin, FL	2.0	1.0	1104	$3,500	$3.17	5d	1	0.46mi
1196 Angle Rd Dunedin, FL	1.0	1.0	700	$1,675	$2.39	5d	1	0.46mi
556 Patricia Ave Dunedin, FL	2.0	1.0	850	$1,795	$2.11	4d	1	0.52mi
451 Skinner Blvd Unit A Dunedin, FL	2.0	1.0	750	$1,500	$2.00	8d	1	0.52mi
1268 Pinehurst Rd Dunedin, FL	1.0	1.0	1080	$1,500	$1.39	17d	1	0.54mi
690 Regina Rd Dunedin, FL	2.0	1.0	745	$2,195	$2.95	5d	1	0.56mi
1388 Robin Hood Ln Unit 1141-B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.57mi
416 Skinner Blvd Unit B Dunedin, FL	1.0	1.0	620	$1,795	$2.90	24d	1	0.58mi
1141 San Christopher Dr Apt B Dunedin, FL	2.0	1.0	1000	$1,595	$1.59	2d	1	0.58mi
1412 Gladys Cir Unit 1466152P Dunedin, FL	3.0	2.0	1097	$3,847	$3.51	3d	1	0.59mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	24d	1	0.59mi
825 Lyndhurst St Dunedin, FL	2.0	2.0	900	$1,850	$2.06	5d	1	0.59mi
857 Lyndhurst St Unit D Dunedin, FL	2.0	2.0	1050	$1,700	$1.62	18d	1	0.59mi
613 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	11d	1	0.66mi
660 Beltrees St Dunedin, FL	1.0–3.0	1.0–1.5	905	$1,385	$1.53	8d	2	0.66mi
611 Lyndhurst St Dunedin, FL	3.0	2.0	1080	$1,995	$1.85	5d	1	0.66mi
607 Lyndhurst St Unit 607 Dunedin, FL	2.0	1.0	677	$2,250	$3.32	24d	1	0.67mi
616 Dogwood Ct Dunedin, FL	1.0	1.0	551	$1,700	$3.09	5d	1	0.67mi
612 Dogwood Ct Dunedin, FL	1.0	1.0	550	$1,350	$2.45	5d	1	0.68mi
609 Dogwood Ct Unit 609 Dunedin, FL	2.0	1.0	725	$1,850	$2.55	24d	1	0.70mi
978 Cedarwood Ave Dunedin, FL	2.0	1.0	1100	$1,800	$1.64	24d	1	0.71mi
885 Beltrees St #12 Dunedin, FL	1.0	1.0	550	$1,350	$2.45	24d	1	0.72mi
417 Milwaukee Ave Dunedin, FL	2.0	1.0	650	$1,850	$2.85	5d	1	0.73mi
600 Douglas Ave Unit 340 Dunedin, FL	1.0	1.0	550	$1,695	$3.08	24d	1	0.77mi
600 Douglas Ave Unit 350 Dunedin, FL	2.0	1.0	1000	$2,195	$2.19	24d	1	0.77mi
2701 Dunedin Commons Pl Dunedin, FL	1.0–2.0	1.0–2.0	887	$2,710	$3.05	3d	12	0.84mi
257 Milwaukee Ave Dunedin, FL	1.0–2.0	1.0–1.5	889	$1,460	$1.64	2d	9	0.85mi
405 Locklie St Unit 4055A Dunedin, FL	2.0	1.0	750	$1,695	$2.26	5d	1	0.88mi
632 Edgewater Dr #537 Dunedin, FL	1.0	1.0	695	$2,300	$3.31	24d	1	0.95mi
1523 Bayshore Blvd Unit 6 Dunedin, FL	3.0	1.0	1061	$3,000	$2.83	24d	1	1.00mi
1523 Bayshore Blvd Unit 3 Dunedin, FL	1.0	1.0	640	$2,750	$4.30	24d	1	1.00mi
1579 Bayshore Blvd Dunedin, FL	3.0	2.0	1040	$3,500	$3.37	8d	1	1.08mi

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $85,000 Active 215 DOM
2. 2026-06-17
   pricedays on market $85,000 Active 214 DOM
3. 2026-06-16
   days on market $90,000 Active 213 DOM
4. 2026-06-15
   days on market $90,000 Active 212 DOM
5. 2026-06-13
   days on market $90,000 Active 210 DOM
6. 2026-06-09
   days on market $90,000 Active 206 DOM
7. 2026-06-08
   days on market $90,000 Active 205 DOM
8. 2026-06-07
   days on market $90,000 Active 204 DOM
9. 2026-06-04
   days on market $90,000 Active 201 DOM
10. 2026-06-03
    days on market $90,000 Active 200 DOM
11. 2026-06-01
    days on market $90,000 Active 198 DOM
12. 2026-05-31
    days on market $90,000 Active 197 DOM
13. 2026-05-08
    status Active
14. 2026-05-08
    price $90,000
15. 2026-04-29
    status Pending
16. 2026-03-18
    price $99,999
17. 2026-02-10
    price $105,000
18. 2026-01-13
    price $112,000
19. 2025-11-06
    listed $115,000 Active
20. 2023-01-10
    historical
21. 2022-11-11
    status Active
22. 2022-11-09
    historical
23. 2022-09-16
    status Active
24. 2022-09-16
    price $185,000
25. 2022-08-09
    listed $170,000 Active
26. 2012-07-26
    soldstatus $31,000
27. 2012-07-24
    soldstatus $31,000 605-char remark

    Show marketing remark (605 chars)

    55+ Dunedin condo ready for immediate occupancy. Estate sale. Second floor unit across the street from the clubhouse and community pool. Elevator and laundry room down the hall. Neutral colors and paint in good condition. Updated ceramic tile in kitchen, bathroom and foyer. Newer carpet in balance of condo. Updated appliances. Refrigerator replaced in July of 2009. Wall oven, dishwasher, stove hood and disposal replaced in November of 2010. The a/c system appears to be newer. Large Florida room. Douglas Arms is at the edge of wonderful downtown Dunedin and across the street from the local hospital.

28. 2012-01-11
    listed $35,000 605-char remark

    Show marketing remark (605 chars)

    55+ Dunedin condo ready for immediate occupancy. Estate sale. Second floor unit across the street from the clubhouse and community pool. Elevator and laundry room down the hall. Neutral colors and paint in good condition. Updated ceramic tile in kitchen, bathroom and foyer. Newer carpet in balance of condo. Updated appliances. Refrigerator replaced in July of 2009. Wall oven, dishwasher, stove hood and disposal replaced in November of 2010. The a/c system appears to be newer. Large Florida room. Douglas Arms is at the edge of wonderful downtown Dunedin and across the street from the local hospital.

29. 1981-03-01
    soldstatus $34,500

ⓘ 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: $2,079 · $173/mo
• Projected year-2 tax: $2,079 · $173/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 · 28 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: $24,071
• − Mortgage interest: −$4,761
• − Property taxes: −$2,079
• − Insurance: −$425
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − HOA: −$9,600
• − Depreciation: −$2,473
• Taxable income: $881
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $1,351/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 — Dunedin

• Score: 86/100
• State rank: #15
• US rank: #411

Category grades

Amenities D Commute A+ Cost of living A Crime A+ Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunedin, FL
• County: Pinellas County · 939,478 people
• City population: 38,171
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 38,171
• Household income: $74,078
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 1390.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 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: ▼ -515.66%
• Current HPI: 387.4694
• Rent YoY: ▲ 2.69%
• 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

+160.9% since first listed

17 events — show timeline

• 2026-05-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $90,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $99,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $112,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-11-11 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-11-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-09-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-09-16 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-09 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2012-07-26 Sold (Public Records) $31,000 Public Records
• 2012-07-24 Sold (MLS) $31,000 Stellar MLS as Distributed by MLS Grid
• 2012-01-11 Listed $35,000 Stellar MLS as Distributed by MLS Grid
• 1981-03-01 Sold (Public Records) $34,500 Public Records

Property tax history

+9.3%/yr

Latest (2025): $2,079 · +8721.9% YoY. Source: county tax records.