183 Philadelphia Blvd #22 · Palm Harbor, FL 34684

$214,000

2 bd · 2.0 ba · 864 sqft · Manufactured public records · 138 Days on market

Built 1969 6,321 sqft lot $110/mo HOA · 6% of rent

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Why this score? — see what drove the D 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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW DEAL! Private Financing Available. $214k – YOU OWN THE LAND—No Lot Rent! Brand NEW ROOF (Sept 2025) and a rare FENCED YARD. Only 10 homes out of 500 here have an HOA-Approved fenced backyard. Rare 2% find for pet owners! Land-owned on a large 6,300 sqft. lot…Enjoy a private community boat ramp for Lake Tarpon access and a HEATED pool. 55+ LIFESTYLE! Located in the desirable Village of Lake Tarpon golf cart community, only 10 miles to Honeymoon Island Beach. Sold TURNKEY, fully furnished. This well-cared-for, non-smoker, 2BR/2BA home includes a 180 sqft versatile flex room, totaling 1,044 sqft of living space. View virtually staged 3rd bedroom… Lowest HOA aroun

Key facts

• Fenced yard
• Land ownership
• New roof

Tags

• NEW ROOF
• LAND OWNERSHIP
• HOA APPROVED DOG AREA
• FENCED YARD
• MATURE TROPICAL FOLIAGE
• HEATED POOL

Property features AI

Finance

• Other: Furnished; Irrigation equipment included; Lease restrictions apply
• Financial info: Total monthly fees $110; total annual fees $1,320
• HOA & community: Has HOA (monthly fee $110) with required approval; HOA amenities include clubhouse, pool, recreation facilities, shuffleboard court, lobby key required, and vehicle restrictions; Association fee covers pool, common area taxes, management, private road maintenance, recreational facilities, and escrow reserves; Community features: association recreation owned, deed restrictions, golf carts allowed, park, sidewalks, special community restrictions, buyer approval required; Senior community; Dogs allowed (max pet weight 40 lb)

Exterior

• Parking: Driveway; Golf cart parking; Ground-level parking; Guest parking; Off-street parking; Oversized parking; 1-car carport
• Utilities: Public sewer; Cable connected; Electricity connected; Propane available; Fire hydrant nearby; Water source: see remarks
• Home design: Residential mobile home (double wide); One story
• Construction: Vinyl siding; Membrane roof with roof over; Concrete perimeter foundation and crawlspace
• Exterior features: Covered, enclosed, screened porch/patio; Awnings; Dog run; Private mailbox; Sidewalks; Chain link and vinyl fencing; Lake access (Lake Tarpon) with assigned boat slip, private boat ramp, fishing pier, seawall, sailing and skiing allowed; Vegetation includes bamboo; Roads are asphalt/paved and privately maintained

Interior

• Kitchen: Range; Range hood; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating and electric heating; Space heater; Central air conditioning; Wall/window unit(s)
• Interior features: Ceiling fans; Living room / dining room combo; Window treatments; Aluminum window frames; Blinds; Exhaust fan; Bonus room; Total of 6 rooms
• Laundry & utility: Washer; Dryer; Washer and electric dryer hookups inside a laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $214k.

Deal economics

• At list price, monthly cash flow is $50 ($595/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (11.3% below list).
• Recommended offer: $188k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.1% in Palm Harbor — 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 81/100 on livability (#95 in FL, #1,470 nationally) — a professional / high-income tenant draw. Strengths: housing A+, commute A, crime A-; Watch: 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: Highland Lakes Elementary School (math 67% / reading 65%, grade B+, #492 of 2,144 statewide, top 23%, 529 students, 44% FRL); Tarpon Springs Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 644 students, 50% FRL); Tarpon Springs High School (math 30% / reading 47%, grade F, #321 of 667 statewide, top 49%, 1,139 students, 46% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents falling (-5.2%/yr); 378 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 ($72k/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 $6k 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 138 days — a 12% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $214k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $188,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 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'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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $111,456
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Freedom Ct #29	0.22mi	2/2.0	816 (-6%)	9mo	$105,000	$129	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.38×
• Total profit: $-37,071
• Equity at exit: $31,908

10-year hold

• IRR: -17.4%
• Equity multiple: 0.17×
• Total profit: $-49,663
• Equity at exit: $18,503

Cash invested: $59,920 (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 34684

• Rents YoY: -5.2%
• Active inventory: 378
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$1,122
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$89
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$110
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $50

Break-even live

Break-even rent $1,835

Max offer price $214,000

Occupancy floor 92%

Sensitivity live

Price	-10% $171	-5% $110	+0% $50	+5% $-11	+10% $-72
Rent	-10% $-100	-5% $-25	+0% $50	+5% $125	+10% $199
Rate	-1.0pp $157	-0.5pp $104	base $50	+0.5pp $-6	+1.0pp $-62

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: $53,500
• Closing costs: $6,420
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 Lake Shore Dr Palm Harbor, FL	2.0	1.0	868	$1,700	$1.96	19d	1	0.13mi
47 Delaware Ct #10 Palm Harbor, FL	2.0	2.0	1008	$1,800	$1.79	22d	1	0.15mi
72 Lake Shore Dr Palm Harbor, FL	3.0	2.0	1100	$1,800	$1.64	19d	1	0.23mi
245 Lake Tarpon Dr Palm Harbor, FL	2.0	2.0	1000	$1,995	$2.00	4d	1	0.33mi
245 Lake Tarpon Dr Palm Harbor, FL	2.0	2.0	1000	$1,995	$2.00	0d	1	0.33mi
36750 US-19 Palm Harbor, FL	1.0	1.0	610	$1,875	$3.07	9d	1	0.34mi
36090 US Highway 19 N Palm Harbor, FL	1.0–3.0	1.0–2.0	1046	$2,534	$2.42	0d	65	0.36mi
274 Beach Ct #42 Palm Harbor, FL	2.0	2.0	1056	$1,600	$1.52	26d	1	0.36mi
36750 US Highway 19 N Unit 19-115 Palm Harbor, FL	1.0	1.0	825	$2,150	$2.61	5d	1	0.42mi
2400 Clubside Ct Palm Harbor, FL	1.0–3.0	1.0–2.0	1129	$1,928	$1.71	0d	37	0.44mi
35820 U.S. 19 Unit B1 Palm Harbor, FL	2.0	2.0	1116	$2,245	$2.01	6d	1	0.51mi
35820 U.S. 19 Unit A2 Palm Harbor, FL	1.0	1.0	740	$1,884	$2.55	6d	1	0.51mi
3277 Fox Chase Cir N #211 Palm Harbor, FL	2.0	2.0	825	$1,495	$1.81	26d	1	0.51mi
3295 Fox Chase Cir N #105 Palm Harbor, FL	1.0	1.0	614	$1,750	$2.85	0d	1	0.54mi
3300 Fox Chase Cir N Palm Harbor, FL	2.0	2.0	906	$2,625	$2.90	0d	2	0.60mi
2141 Portofino Pl Palm Harbor, FL	1.0	1.0	700	$1,510	$2.16	26d	2	0.64mi
2199 Chianti Pl Unit 9-0923 Palm Harbor, FL	2.0	2.0	1030	$2,300	$2.23	26d	1	0.69mi
2151 Chianti Pl Unit 127 Palm Harbor, FL	2.0	2.0	1085	$1,700	$1.57	26d	1	0.69mi
2139 Chianti Pl Unit 154 Palm Harbor, FL	1.0	1.0	830	$1,700	$2.05	26d	1	0.69mi
2587 Cyprus Dr Unit 3-214 Palm Harbor, FL	2.0	2.0	825	$2,000	$2.42	26d	1	0.70mi
2571 Cyprus Dr Unit 1-202 Palm Harbor, FL	2.0	2.0	975	$2,800	$2.87	26d	1	0.70mi
2571 Cyprus Dr Unit 1-101 Palm Harbor, FL	1.0	1.0	755	$1,900	$2.52	24d	1	0.70mi
2218 Portofino Pl #247 Palm Harbor, FL	2.0	2.5	1050	$1,895	$1.80	19d	1	0.70mi
2176 Portofino Pl Unit 26-026 Palm Harbor, FL	1.0	1.0	830	$1,600	$1.93	26d	1	0.74mi
3121 Beecher Dr E Unit A Palm Harbor, FL	2.0	2.0	976	$2,100	$2.15	9d	1	0.75mi
2171 Portofino Pl #2727 Palm Harbor, FL	1.0	1.0	700	$1,550	$2.21	26d	1	0.75mi
2107 Portofino Pl Unit 30-302 Palm Harbor, FL	2.0	2.0	1034	$2,500	$2.42	9d	1	0.82mi
2107 Portofino Pl Palm Harbor, FL	2.0	2.0	1055	$2,250	$2.13	6d	2	0.82mi
2350 Cypress Pond Rd Palm Harbor, FL	1.0–2.0	1.0–2.0	790	$1,675	$2.12	0d	53	0.84mi
2945 Grovewood Blvd Unit A Palm Harbor, FL	2.0	2.0	1030	$1,775	$1.72	19d	1	0.90mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,860	$1.81	9d	1	0.93mi
2130 Bancroft Pl Unit E Palm Harbor, FL	2.0	2.0	1030	$1,850	$1.80	5d	1	0.93mi
36750 US Highway 19 N Unit 6109 Palm Harbor, FL	1.0	1.0	825	$1,975	$2.39	26d	1	0.93mi
605 Lennox Rd W Palm Harbor, FL	2.0	2.0	1050	$1,950	$1.86	5d	1	1.03mi
36750 US Hwy 19 N Unit 11-210 Palm Harbor, FL	1.0	1.0	825	$1,800	$2.18	6d	1	1.19mi
36750 US Hwy 19 N #2328 Palm Harbor, FL	1.0	1.0	530	$1,550	$2.92	26d	1	1.23mi
36750 US Highway 19 N #2074 Palm Harbor, FL	1.0	1.0	700	$1,900	$2.71	26d	1	1.23mi
36750 US Hwy 19 N Unit 14-211 Palm Harbor, FL	1.0	1.0	825	$3,500	$4.24	6d	1	1.36mi
2575 Pine Ridge Way S Unit A2 Palm Harbor, FL	2.0	2.0	1104	$1,590	$1.44	26d	1	1.42mi
2523 Pine Ridge Way S Unit C2 Palm Harbor, FL	2.0	2.0	1038	$1,650	$1.59	0d	1	1.43mi

HOA detail

• Monthly dues: $110 · $1,320/yr
• Likely covers: pool

Listing history 20 events

1. 2026-06-22
   days on market $214,000 Active 138 DOM
2. 2026-06-18
   days on market $214,000 Active 135 DOM
3. 2026-06-17
   days on market $214,000 Active 134 DOM
4. 2026-06-16
   days on market $214,000 Active 133 DOM
5. 2026-06-15
   days on market $214,000 Active 132 DOM
6. 2026-06-13
   days on market $214,000 Active 130 DOM
7. 2026-06-09
   days on market $214,000 Active 126 DOM
8. 2026-06-08
   days on market $214,000 Active 125 DOM
9. 2026-06-07
   days on market $214,000 Active 124 DOM
10. 2026-06-04
    days on market $214,000 Active 121 DOM
11. 2026-06-03
    days on market $214,000 Active 120 DOM
12. 2026-06-01
    days on market $214,000 Active 118 DOM
13. 2026-05-31
    days on market $214,000 Active 117 DOM
14. 2026-03-28
    price $214,000
15. 2026-03-10
    price $224,000
16. 2026-02-03
    listed $228,800 Active
17. 2018-08-20
    soldstatus $75,000
18. 2005-03-15
    soldstatus $85,000
19. 2004-11-18
    soldstatus $55,000
20. 1990-04-25
    soldstatus $40,000

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $1,776 · $148/mo
• Expected delta: +$1,036/yr (+$86/mo · 140.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,771
• − Mortgage interest: −$11,987
• − Property taxes: −$740
• − Insurance: −$1,868
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − HOA: −$1,320
• − Depreciation: −$6,225
• Taxable loss: −$3,013
• Est. tax savings @ 24.0%: +$723
• After-tax cash flow: $1,318/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 — Palm Harbor

• Score: 81/100
• State rank: #95
• US rank: #1470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Harbor, FL
• County: Pinellas County · 939,478 people
• City population: 79,072
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,029
• Household income: $72,145
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1495.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 5% Romanian 5% Scotch-Irish 3%
• Foreign-born: 13% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 6% Russian/Polish/Slavic 3% 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: ▼ -296.23%
• Current HPI: 301.651
• Rent YoY: ▼ -5.17%
• 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

+435.0% since first listed

7 events — show timeline

• 2026-03-28 Price Changed $214,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $224,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Listed $228,800 Stellar MLS as Distributed by MLS Grid
• 2018-08-20 Sold (Public Records) $75,000 Public Records
• 2005-03-15 Sold (Public Records) $85,000 Public Records
• 2004-11-18 Sold (Public Records) $55,000 Public Records
• 1990-04-25 Sold (Public Records) $40,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $740 · +7.1% YoY. Source: county tax records.