1200 E Court St · Tarpon Springs, FL 34689

$215,000

3 bd · 2.0 ba · 1,721 sqft · SingleFamily public records · 5 Days on market

Built 1980 9,544 sqft lot Est $420k · 49% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great house in need of some finishing touches. Possible in-law set up with separate entrance.

Key facts

• Private entrance
• New windows
• 9,544 sq ft lot

Tags

• OPEN KITCHEN-FAMILY ROOM
• FLEXIBLE SEPARATE SPACE
• DEDICATED HOME OFFICE
• PRIVATE ENTRANCE
• NEW WINDOWS
• FRESHLY RESURFACED POOL

Property features AI

Finance

• Financial info: No lease restrictions
• HOA & community: No association

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Water and sewer available and connected
• Home design: Single family residence; Residential property; Two stories; Faces north; Entry level on slab foundation
• Construction: Frame construction; Shingle roof; Slab foundation; Built on a 0.22-acre lot (75 x 127)
• Exterior features: Lighting; Sidewalk

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Cap rate 8.2% vs local median 3.3% in Tarpon Springs — 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 68/100 on livability (#502 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment C-, amenities F, commute 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: Tarpon Springs Elementary School (math 57% / reading 41%, grade D, #1,134 of 2,144 statewide, top 54%, 506 students, 80% 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).
• Market conditions: Rents soft (-1.2%/yr); 404 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 36% of the median local income ($75k/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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $152k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $215,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $419,924
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
275 S Highland Ave	0.22mi	3/2.0	1,741 (+1%)	1mo	$425,000	$244	87
1304 E Court St	0.14mi	3/2.0	1,870 (+9%)	9mo	$262,000	$140	72
1272 Jasmine Lake Dr	0.45mi	3/2.0	1,619 (-6%)	0mo	$490,000	$303	69
1212 Salt Lake Dr	0.38mi	4/2.0 (+1)	1,697 (-1%)	22mo	$529,900	$312	56
640 Spring Lake Cir	0.45mi	3/2.0	1,590 (-8%)	21mo	$382,500	$241	49
717 Boston St	0.75mi	3/2.0	1,473 (-14%)	15mo	$349,000	$237	28

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: -9.1%
• Equity multiple: 0.68×
• Total profit: $-19,404
• Equity at exit: $32,057

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-13,996
• Equity at exit: $18,589

Cash invested: $60,200 (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 34689

• Rents YoY: -1.2%
• Active inventory: 404
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,248 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$213 /mo · $2,553/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $346

Break-even live

Break-even rent $1,810

Max offer price $215,000

Occupancy floor 80%

Sensitivity live

Price	-10% $467	-5% $407	+0% $346	+5% $285	+10% $224
Rent	-10% $168	-5% $257	+0% $346	+5% $435	+10% $523
Rate	-1.0pp $454	-0.5pp $400	base $346	+0.5pp $290	+1.0pp $233

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 S Highland Ave #101 Tarpon Springs, FL	2.0	2.0	1130	$1,795	$1.59	25d	1	0.40mi
816 Elkan Dr Tarpon Springs, FL	2.0	2.0	1182	$1,900	$1.61	5d	1	0.74mi
617 Pent St Tarpon Springs, FL	4.0	2.0	1200	$1,695	$1.41	15d	1	0.79mi
605 S Disston Ave Tarpon Springs, FL	3.0	1.0	1290	$2,120	$1.64	23d	1	0.79mi
610 N Walton Ave Tarpon Springs, FL	3.0	2.0	1280	$2,045	$1.60	25d	1	0.80mi
401 E Boyer St Tarpon Springs, FL	3.0	2.0	1130	$2,099	$1.86	3d	1	0.98mi
401 E Boyer St Tarpon Springs, FL	3.0	2.0	1130	$2,299	$2.03	25d	1	0.99mi
401 E Boyer St Unit 3 Tarpon Springs, FL	3.0	2.0	1130	$2,099	$1.86	25d	1	0.99mi
326 S Grosse Ave Apt 2 Tarpon Springs, FL	3.0	2.0	1130	$2,098	$1.86	25d	1	1.03mi
141 N Ring Ave Tarpon Springs, FL	3.0	2.5	1533	$2,600	$1.70	4d	1	1.10mi
109 Hibiscus St Unit 1 Tarpon Springs, FL	2.0	1.0	1968	$1,750	$0.89	25d	1	1.24mi
1185 S Pinellas Ave Tarpon Springs, FL	1.0–3.0	1.0–2.0	1013	$2,735	$2.70	3d	21	1.43mi
1483 Hillview Ln Tarpon Springs, FL	3.0	2.5	2158	$2,550	$1.18	25d	1	1.48mi

Listing history 4 events

1. 2026-06-21
   days on market $215,000 Active 5 DOM
2. 2026-06-18
   days on market $215,000 Active 2 DOM
3. 2026-06-17
   remarks 680-char remark
4. 2026-06-17
   listed $215,000 Active 1 DOM

ⓘ 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: $2,553 · $213/mo
• Projected year-2 tax: $2,553 · $213/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 ≥109°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,972
• − Mortgage interest: −$12,043
• − Property taxes: −$2,553
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,158
• − Management: −$2,158
• − Depreciation: −$6,255
• Taxable income: $730
• Est. tax owed @ 24.0%: −$175
• After-tax cash flow: $3,974/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 — Tarpon Springs

• Score: 68/100
• State rank: #502
• US rank: #9244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tarpon Springs, FL
• County: Pinellas County · 939,478 people
• City population: 27,324
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,324
• Household income: $74,854
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 721.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Other Indo-European 6% Spanish 6% French/Haitian/Cajun 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: ▼ -300.96%
• Current HPI: 303.7434
• Rent YoY: ▼ -1.16%
• 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

+309.5% since first listed

6 events — show timeline

• 2026-06-16 Listed $215,000 Stellar MLS as Distributed by MLS Grid
• 2015-07-21 Sold (Public Records) $152,000 Public Records
• 2015-04-29 Sold (MLS) $152,000 Stellar MLS as Distributed by MLS Grid
• 2015-01-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2014-11-08 Listed $169,900 Stellar MLS as Distributed by MLS Grid
• 1983-01-01 Sold (Public Records) $52,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,553 · +6.2% YoY. Source: county tax records.