12010 Proctor Loop #4 · Moon Lake, FL 34654

$119,500

3 bd · 2.0 ba · 1,239 sqft · Condo public records · 41 Days on market

Built 1984 $474/mo HOA · 24% 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 +25.6/30.0
• 1% rule +10.0/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

Key facts

• Ground floor
• Large kitchen
• Screened porch

Tags

• GROUND FLOOR
• TILE FLOORING
• LARGE KITCHEN
• INSIDE LAUNDRY CLOSET
• SCREENED PORCH

Property features AI

Finance

• Other: Directions: Highway 52 to Moon Lake Road, go south then right on Baywood Meadows and then left on Proctor Loop
• Financial info: Total monthly fees $474; Total annual fees $5,688; Lease restrictions apply
• HOA & community: Baywood Meadows Association; Monthly condo fee $474 (includes pool, structure maintenance, grounds maintenance, management); Association approval required; Clubhouse and pool in the community; Cats and dogs allowed

Exterior

• Parking: No parking details provided
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium (Residential); One story; Faces west; PUD zoning; Unit on first floor
• Construction: Frame construction; Shingle roof; Slab foundation; Built/identified as building number 12010
• Exterior features: Sliding doors; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Disposal; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; 6 total rooms
• Laundry & utility: Laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.4% in Moon Lake — 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 56/100 on livability (#871 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute 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 (-1.9%/yr); 353 active listings in the ZIP; 5 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 33% 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 $826 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 41 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $94k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,915 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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. 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.
7. 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.
8. 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: 1.68% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 5.0

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: -5.8%
• Equity multiple: 0.79×
• Total profit: $-6,952
• Equity at exit: $17,818

10-year hold

• IRR: -2.4%
• Equity multiple: 0.87×
• Total profit: $-4,340
• Equity at exit: $10,332

Cash invested: $33,460 (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 34654

• Home prices YoY: -12.7%
• Rents YoY: -1.9%
• Active inventory: 353
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$627
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$50
• HOA: −$474
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $282

Break-even live

Break-even rent $1,652

Max offer price $119,500

Occupancy floor 81%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11550 Baywood Meadows Dr #7 New Port Richey, FL	2.0	1.0	1008	$1,495	$1.48	24d	1	0.08mi
12135 Environmental Dr #4 New Port Richey, FL	3.0	2.0	1239	$1,800	$1.45	24d	1	0.13mi
12065 Grizzly Ln New Port Richey, FL	3.0	2.5	1440	$2,200	$1.53	17d	1	0.27mi
12245 Grizzly Ln New Port Richey, FL	3.0	2.5	1207	$2,280	$1.89	24d	1	0.30mi
12405 Shearwater Dr Unit 12405 New Port Richey, FL	2.0	2.0	1000	$1,600	$1.60	2d	1	0.40mi

HOA detail condo

• Monthly dues: $474 · $5,688/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $119,500 Active 41 DOM
2. 2026-06-17
   days on market $119,500 Active 40 DOM
3. 2026-06-16
   days on market $119,500 Active 39 DOM
4. 2026-06-15
   days on market $119,500 Active 38 DOM
5. 2026-06-13
   days on market $119,500 Active 36 DOM
6. 2026-06-09
   days on market $119,500 Active 32 DOM
7. 2026-06-08
   days on market $119,500 Active 31 DOM
8. 2026-06-07
   days on market $119,500 Active 30 DOM
9. 2026-06-04
   days on market $119,500 Active 27 DOM
10. 2026-06-03
    days on market $119,500 Active 26 DOM
11. 2026-06-02
    days on market $119,500 Active 25 DOM
12. 2026-06-01
    days on market $119,500 Active 24 DOM
13. 2026-05-31
    days on market $119,500 Active 23 DOM
14. 2026-05-08
    listed $119,500 Active
15. 2018-06-13
    soldstatus $94,000
16. 2018-04-14
    status Pending 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

17. 2018-04-13
    soldstatus $47,000 Sold 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

18. 2018-03-23
    status Pending 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

19. 2018-03-23
    status Pending 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

20. 2018-03-23
    status Pending 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

21. 2018-02-28
    listed $49,900 Active 115-char remark

    Show marketing remark (115 chars)

    Property is a 2 bedroom, 2 bathroom condo. located on first floor and corner unit. Has screened/covered back patio.

ⓘ 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: $1,851 · $154/mo
• Projected year-2 tax: $1,851 · $154/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 26 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: $24,105
• − Mortgage interest: −$6,694
• − Property taxes: −$1,851
• − Insurance: −$598
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − HOA: −$5,688
• − Depreciation: −$3,476
• Taxable income: $1,942
• Est. tax owed @ 24.0%: −$466
• After-tax cash flow: $2,921/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 — Moon Lake

• Score: 56/100
• State rank: #871
• US rank: #22850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pasco County · 524,098 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 24,355
• Household income: $73,947
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 179.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 7% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 1%

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: ▼ -42.63%
• Current HPI: 294.4358
• Rent YoY: ▼ -1.85%
• 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

+139.5% since first listed

8 events — show timeline

• 2026-05-08 Listed $119,500 Stellar MLS as Distributed by MLS Grid
• 2018-06-13 Sold (Public Records) $94,000 Public Records
• 2018-04-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-04-13 Sold (MLS) $47,000 Stellar MLS as Distributed by MLS Grid
• 2018-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-02-28 Listed $49,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+25.7%/yr

Latest (2025): $1,851 · +3.8% YoY. Source: county tax records.