12760 Indian Rocks Rd #904 · Largo, FL 33774

$105,000

2 bd · 1.0 ba · 872 sqft · Condo public records · 341 Days on market

Built 1972 $652/mo HOA · 25% of rent

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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

MOTIVATED SELLER! CURRENTLY LOWEST PRICED UNIT IN NEW ATLANTIS COMMUNITY! GROUND FLOOR 2-bedroom, 1-bath condo nestled in the desirable New Atlantis Club—a gated, waterfront community along the Intracoastal in Largo, Florida where ALL AGES are welcome. This unit is a rare find for investors or buyers looking to add personal touches and updates to make it their own. The open-concept living and dining area with a pass through from the kitchen is great for entertaining. The spacious bedrooms provide a solid foundation for design ideas. With a little TLC, this condo can be transformed into a stylish and comfortable coastal retreat or primary residence. New Atlantis Club offers resort-sty

Key facts

• Gated community
• Waterfront community
• Tennis courts

Tags

• GATED COMMUNITY
• WATERFRONT COMMUNITY
• OPEN-CONCEPT LIVING
• RESORT-STYLE AMENITIES
• TWO POOLS
• TENNIS COURTS

Property features AI

Finance

• Other: Homestead exemption applied; No CDD
• Financial info: Total monthly fees: $652; Total annual fees: $7,824; Lease restrictions apply
• HOA & community: Monthly condo fee: $652 (includes cable TV, pool, escrow reserves, insurance, internet, structure and grounds maintenance, management, pest control, private road, sewer, trash, water); Association amenities include cable TV, clubhouse, fitness center, gated entry, laundry, maintenance, pool, shuffleboard, storage, tennis courts; Association approval required for buyers; Buyer approval required; Pool in community; Pets not allowed

Exterior

• Parking: Assigned parking; Open parking
• Security: Gated community; Lobby key required
• Utilities: Public water; Public sewer; Electricity connected; Cable available and connected; Internet connected; Sewer connected; Water connected
• Home design: Condominium residential property; One-level unit (floor 1); Faces north
• Construction: Block construction; Built-up roof; Slab foundation; Building 9 (identified within complex)
• Exterior features: Sidewalk; Storage; Tennis courts; Intracoastal Waterway access; Paved roads

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Solid wood cabinets; Thermostat; Window treatments; Blinds
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $92k (12.0% 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; 30 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 39% 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 $726 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 341 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $45k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $105k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; 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 $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 341 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.44% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• GRM: 3.4

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: 20.4%
• Equity multiple: 1.82×
• Total profit: $24,023
• Equity at exit: $15,656

10-year hold

• IRR: 27.7%
• Equity multiple: 3.31×
• Total profit: $68,020
• Equity at exit: $9,078

Cash invested: $29,400 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,559 high
• Mortgage (P&I): −$551
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$44
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$652
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $677

Break-even live

Break-even rent $1,702

Max offer price $105,000

Occupancy floor 69%

Sensitivity live

Price	-10% $737	-5% $707	+0% $677	+5% $648	+10% $618
Rent	-10% $475	-5% $576	+0% $677	+5% $778	+10% $880
Rate	-1.0pp $730	-0.5pp $704	base $677	+0.5pp $650	+1.0pp $623

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12760 Indian Rocks Rd Largo, FL	1.0–2.0	1.0–2.0	923	$2,500	$2.71	5d	6	0.06mi
9 Jeff Rd Largo, FL	2.0	1.0	964	$2,150	$2.23	5d	1	0.22mi
14130 Rosemary Ln Largo, FL	2.0	1.5	880	$1,725	$1.96	21d	2	0.40mi
1 Windrush Blvd Indian Rocks Beach, FL	2.0–3.0	1.0–2.0	1177	$3,200	$2.72	25d	2	0.47mi
1 Windrush Blvd Indian Rocks Beach, FL	2.0	1.0–2.0	997	$3,875	$3.88	3d	2	0.47mi
1 Windrush Blvd #63 Indian Rocks Beach, FL	2.0	1.0	955	$5,000	$5.24	25d	1	0.51mi
14531 Walsingham Rd Largo, FL	2.0	1.0–2.0	657	$2,600	$3.96	25d	3	0.56mi
1000 Bay Pine Blvd Indian Rocks Beach, FL	3.0	1.0	936	$3,595	$3.84	4d	1	0.61mi
717 E Gulf Blvd Unit 1 Indian Rocks Beach, FL	2.0	1.0	850	$2,300	$2.71	20d	1	0.64mi
717 E Gulf Blvd Unit 3 Indian Rocks Beach, FL	2.0	1.0	850	$2,650	$3.12	20d	1	0.64mi
720 E Gulf Blvd Unit B Indian Rocks Beach, FL	2.0	1.0	748	$2,600	$3.48	21d	1	0.68mi
206 Bates Ave Unit E Indian Rocks Beach, FL	1.0	1.0	600	$1,945	$3.24	5d	1	0.70mi
1210 Bay Palm Blvd Indian Rocks Beach, FL	3.0	2.0	1118	$4,495	$4.02	4d	1	0.73mi
1209 1st St Indian Rocks Beach, FL	2.0	1.5	768	$2,400	$3.12	25d	1	0.74mi
13200 Wilcox Rd Largo, FL	2.0	2.0	932	$1,755	$1.88	4d	2	0.89mi
12800 Vonn Rd Largo, FL	1.0–2.0	1.0	810	$1,458	$1.80	3d	16	0.91mi
1400 Gulf Blvd Unit 2B Indian Rocks Beach, FL	2.0	2.0	1074	$5,900	$5.49	25d	1	0.92mi
13125 Wilcox Rd Largo, FL	1.0–2.0	1.0–2.0	840	$1,830	$2.18	2d	8	0.99mi
2200 Gladys St Largo, FL	1.0–2.0	1.0–1.5	677	$1,595	$2.35	25d	1	1.05mi
13300 Walsingham Rd Largo, FL	1.0–4.0	1.0–2.0	1060	$1,788	$1.69	25d	1	1.10mi
2110 Gulf Blvd #11 Indian Rocks Beach, FL	2.0	1.0	775	$2,950	$3.81	25d	1	1.21mi
2505 Bay Blvd #1 Indian Rocks Beach, FL	2.0	2.0	1090	$3,475	$3.19	5d	1	1.31mi
3000 Karen Ave Largo, FL	2.0	1.0	888	$2,800	$3.15	25d	1	1.33mi
3000 Karen Ave Largo, FL	2.0	1.0	888	$2,450	$2.76	22d	1	1.33mi
2502 Bay Blvd Unit 6 Indian Rocks Beach, FL	2.0	1.0	800	$1,950	$2.44	25d	1	1.33mi
2502 Bay Blvd Unit 1 Indian Rocks Beach, FL	2.0	1.0	800	$2,950	$3.69	21d	1	1.33mi
3223 Dryer Ave Largo, FL	2.0	1.0	1000	$1,800	$1.80	25d	1	1.39mi
3054 Adrian Ave Largo, FL	2.0	1.0	1059	$3,500	$3.31	4d	1	1.40mi
1884 Pine St Largo, FL	3.0	1.5	1012	$2,499	$2.47	22d	1	1.48mi
2704 2nd St Indian Rocks Beach, FL	1.0	1.0	624	$2,350	$3.77	3d	3	1.48mi

HOA detail condo

• Monthly dues: $652 · $7,824/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-18
   price $105,000
2. 2026-04-30
   price $125,000
3. 2025-11-17
   price $139,000
4. 2025-06-19
   listed $150,000 Active
5. 2009-06-05
   listed $99,900
6. 2009-05-06
   listed $109,900
7. 1998-12-31
   soldstatus $47,900
8. 1992-09-23
   soldstatus $40,000
9. 1984-03-01
   soldstatus $38,500

ⓘ 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: $377 · $31/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$494/yr (+$41/mo · 131.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 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: $30,709
• − Mortgage interest: −$5,882
• − Property taxes: −$377
• − Insurance: −$1,322
• − Repairs & maintenance: −$2,457
• − Management: −$2,457
• − HOA: −$7,824
• − Depreciation: −$3,055
• Taxable income: $7,335
• Est. tax owed @ 24.0%: −$1,761
• After-tax cash flow: $6,368/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: 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

+172.7% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $139,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-19 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2009-06-05 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2009-05-06 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 1998-12-31 Sold (Public Records) $47,900 Public Records
• 1992-09-23 Sold (Public Records) $40,000 Public Records
• 1984-03-01 Sold (Public Records) $38,500 Public Records

Property tax history

-7.6%/yr

Latest (2025): $377 · +6.3% YoY. Source: county tax records.