211 S Port Royal Ln #523 · Apollo Beach, FL 33572

$199,900

3 bd · 2.0 ba · 1,296 sqft · Condo public records · 79 Days on market

Built 2002 $242/mo HOA

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.9/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 3 bedroom - 2 Bath home located in Caribbean Isles Residential Cooperative. This home has been meticulously maintained. The Lania is Glass enclosed and overlooks a picturesque pond with lighted fountain that provides a very relaxing moment. Split plan with large Primary Bedroom Dual Closets and an Ensuite. The home has a water Softener and an under-sink water filter fountain for drinking water. The Kitchen has an abundance of storage. The home is tastefully furnished. Bring your clothes and linens and move in. Caribbean Isles is a VERY ACTIVE 55+ Waterfront gated community with no HOA or CDD’s. Maintenance fee is $242.00 monthly. Some of the finest outdoor amenities are here to keep you as active as you want to be. Some of the amenities include year-round heated pool, kayak launch, and a boat launch. There is a separate storage lot for boats and trailers (for fee), bocce-ball, shuffleboard, and horseshoes. Inside, the clubhouse has many amenities including a large area for gatherings, dances, bingo, and of course pot-luck dinners to mention a few. Large game room including bar shuffleboard, darts, card table and 3 pool tables. Separate crafting room for ceramics (2 large kilns), quilting and other crafting. There are regular outside the park activities to keep you on the go. Come see why the Caribbean Isles in Apollo Beach is such a wonderful place to live. Come and enjoy your slice of PARADISE!

Key facts

• Water softener
• Abundance of storage
• Lighted fountain

Tags

• PICTURESQUE POND
• LIGHTED FOUNTAIN
• WATER SOFTENER
• UNDER-SINK WATER FILTER
• ABUNDANCE OF STORAGE
• YEAR-ROUND HEATED POOL

🏢 Co-op / cooperative unit. The $199,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (10.1% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $180k (10.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#333 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Apollo Beach Elementary School (math 73% / reading 65%, grade A-, #399 of 2,144 statewide, top 19%, 561 students, 40% FRL); Lennard High School (math 30% / reading 46%, grade F, #328 of 667 statewide, top 50%, 2,404 students, 47% FRL).
• Market conditions: Rents rising (+3.4%/yr); 769 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).

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.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,810 (10.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. Schools are B-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?
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 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: 1.19% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-38,359
• Equity at exit: $29,806

10-year hold

• IRR: -10.7%
• Equity multiple: 0.33×
• Total profit: $-37,482
• Equity at exit: $17,284

Cash invested: $55,972 (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 33572

• Rents YoY: 3.4%
• Active inventory: 769
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,379 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-114

Break-even live

Break-even rent $2,523

Max offer price $179,810

Occupancy floor 100%

Sensitivity live

Price	-10% $-1	-5% $-57	+0% $-114	+5% $-170	+10% $-227
Rent	-10% $-302	-5% $-208	+0% $-114	+5% $-20	+10% $74
Rate	-1.0pp $-13	-0.5pp $-63	base $-114	+0.5pp $-166	+1.0pp $-218

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
349 Apollo Beach Blvd Apollo Beach, FL	2.0	1.0	583	$1,700	$2.92	5d	12	0.34mi
6144 Paseo Al Mar Blvd Apollo Beach, FL	1.0–2.0	1.0–2.0	1084	$2,164	$2.00	0d	27	0.42mi
128 Lookout Dr Apollo Beach, FL	3.0	2.0	1638	$2,700	$1.65	12d	1	0.47mi
6350 Union Station Ct Apollo Beach, FL	3.0	1.0–2.0	1116	$2,744	$2.46	0d	43	0.50mi
206 Lookout Dr Apollo Beach, FL	3.0	2.0	1282	$2,025	$1.58	0d	1	0.55mi
6222 Camino Dr Apollo Beach, FL	3.0	2.5	1617	$2,400	$1.48	6d	1	0.61mi
6322 Camino Dr Apollo Beach, FL	3.0	2.5	1677	$2,400	$1.43	16d	1	0.63mi
229 Lookout Dr Apollo Beach, FL	2.0	2.0	1291	$2,099	$1.63	6d	1	0.67mi
6516 Quiet Pool Ct Apollo Beach, FL	3.0	2.5	1674	$1,855	$1.11	26d	1	0.82mi
6033 Flora Ter Apollo Beach, FL	3.0	2.0	1428	$1,895	$1.33	26d	1	0.86mi
6501 Manila Palm Way Apollo Beach, FL	3.0	2.0	1651	$2,350	$1.42	26d	1	0.95mi
527 Fox Run Trl Apollo Beach, FL	2.0	2.0	880	$2,400	$2.73	0d	1	1.08mi
529 Red Mangrove Ln Apollo Beach, FL	3.0	2.0	1056	$2,200	$2.08	19d	1	1.23mi
6808 Cambridge Park Dr Apollo Beach, FL	3.0	2.0	1858	$2,350	$1.26	19d	1	1.23mi
7556 Oxford Garden Cir Apollo Beach, FL	3.0	2.0	1335	$2,025	$1.52	0d	1	1.30mi
6981 Waterset Blvd Apollo Beach, FL	3.0	2.0	1412	$2,406	$1.70	1d	1	1.37mi
206 Shell Falls Dr Apollo Beach, FL	2.0	2.0	1461	$2,200	$1.51	26d	1	1.37mi
6447 Clair Shore Dr Apollo Beach, FL	3.0	2.0	1770	$2,700	$1.53	6d	1	1.37mi
6981 Tapestry Heights Ave Apollo Beach, FL	3.0	1.0–2.0	1050	$2,595	$2.47	0d	35	1.39mi
917 Apollo Beach Blvd Apollo Beach, FL	2.0	1.0–2.0	1120	$2,361	$2.11	1d	4	1.42mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $199,900 Active 79 DOM
2. 2026-06-18
   days on market $199,900 Active 76 DOM
3. 2026-06-17
   days on market $199,900 Active 75 DOM
4. 2026-06-16
   days on market $199,900 Active 74 DOM
5. 2026-06-15
   days on market $199,900 Active 73 DOM
6. 2026-06-13
   days on market $199,900 Active 71 DOM
7. 2026-06-13
   days on market $199,900 Active 70 DOM
8. 2026-06-09
   days on market $199,900 Active 67 DOM
9. 2026-06-08
   days on market $199,900 Active 66 DOM
10. 2026-06-07
    days on market $199,900 Active 65 DOM
11. 2026-06-04
    days on market $199,900 Active 62 DOM
12. 2026-06-03
    days on market $199,900 Active 61 DOM
13. 2026-06-02
    days on market $199,900 Active 60 DOM
14. 2026-06-01
    days on market $199,900 Active 59 DOM
15. 2026-05-31
    days on market $199,900 Active 58 DOM
16. 2026-04-03
    listed $199,900 Active 1430-char remark

    Show marketing remark (1430 chars)

    Large 3 bedroom - 2 Bath home located in Caribbean Isles Residential Cooperative. This home has been meticulously maintained. The Lania is Glass enclosed and overlooks a picturesque pond with lighted fountain that provides a very relaxing moment. Split plan with large Primary Bedroom Dual Closets and an Ensuite. The home has a water Softener and an under-sink water filter fountain for drinking water. The Kitchen has an abundance of storage. The home is tastefully furnished. Bring your clothes and linens and move in. Caribbean Isles is a VERY ACTIVE 55+ Waterfront gated community with no HOA or CDD’s. Maintenance fee is $242.00 monthly. Some of the finest outdoor amenities are here to keep you as active as you want to be. Some of the amenities include year-round heated pool, kayak launch, and a boat launch. There is a separate storage lot for boats and trailers (for fee), bocce-ball, shuffleboard, and horseshoes. Inside, the clubhouse has many amenities including a large area for gatherings, dances, bingo, and of course pot-luck dinners to mention a few. Large game room including bar shuffleboard, darts, card table and 3 pool tables. Separate crafting room for ceramics (2 large kilns), quilting and other crafting. There are regular outside the park activities to keep you on the go. Come see why the Caribbean Isles in Apollo Beach is such a wonderful place to live. Come and enjoy your slice of PARADISE!

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $2,314 · $193/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,545
• − Mortgage interest: −$11,198
• − Property taxes: −$2,314
• − Insurance: −$6,118
• − Repairs & maintenance: −$2,284
• − Management: −$2,284
• − HOA: −$2,904
• − Depreciation: −$5,815
• Taxable loss: −$4,371
• Est. tax savings @ 24.0%: +$1,049
• After-tax cash flow: $-316/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Apollo Beach

• Score: 72/100
• State rank: #333
• US rank: #5784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apollo Beach, FL
• County: Hillsborough County · 1,540,968 people
• City population: 26,495
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 26,495
• Household income: $122,130
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 381.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Guatemala
• Languages at home: 86% English-only · Spanish 10% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -393.97%
• Current HPI: 300.9596
• Rent YoY: ▲ 3.36%
• 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

1 event — show timeline

• 2026-04-03 Listed $199,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2025): $2,314 · +6.8% YoY. Source: county tax records.