Large-Lot Largo 3/2 CBS Value-Add Near Downtown

This 3-bedroom, 2-bathroom single-family block/stucco home is located in the 33770 zip code of Largo, in Roosevelt Groves near Downtown Largo, Largo Central Park, and the Pinellas Trail corridor. Built in 1948, the property features 1,514 sq ft of living area on slab with a large 12,184 sq ft lot, no pool, detached utility space, open/screen porch areas, and a non-evacuation zone per Pinellas County records. Property needs a full cosmetic rehab, exterior cleanup, screened porch/laundry cleanup, kitchen and bath modernization, flooring, paint. Fully renovated nearby 3/2 homes are supporting High 300’s to low $400Ks.

Repairs Needed (Estimate)

• Roof: No roof permit displayed in PCPAO. Budget full replacement or major roof scope.
• HVAC: Air handler visible, age not confirmed. Budget replacement and duct review.
• Plumbing: 1948 build supports sewer scope and cast-iron review, but do not assume full replacement until inspected.
• Electrical: No permit history displayed. Inspect panel/wiring and budget modernization.
• Kitchen & Baths: Full retail update needed.
• Interior/Exterior: Flooring, paint, trim, drywall touchups, lighting, doors, exterior paint, stucco/trim/eave repairs, landscaping, and trash-out.
• Windows/Doors: Older windows visible. Not mandatory unless chasing top-end ARV, but likely needed for premium resale.

🟣 Comparable Sales

1. 1136 San Marco Dr – 3/2 | 1,210 sf | Sold $406,000 ($336/sf) | Condition: Closed/Full Flip (CMA comp; renovated 3/2 with garage, smaller lot and smaller footprint. Strongest clean CMA ARV support.)
2. 1020 San Marco Dr – 2/2 | 1,273 sf | Sold $355,000 ($279/sf) | Condition: Closed/Updated (CMA comp; updated kitchen/baths, LVP, roof 2021, HVAC 2017, panel 2024, ductwork 2026. Good lower anchor, but only 2 bedrooms.)
3. 331 Tralee St – 2/2 | 1,191 sf | Pending $410,000 ($344/sf) | Condition: Pending/Renovated Context Only (Current demand indicator, but not closed and smaller than subject.)
4. 1503 Edna Ave NW – 3/2 | 1,512 sf | Sold $450,000 ($298/sf) | Condition: Closed/Full Flip, Context Only (Excellent size match, but just outside strict six-month window and superior with 2-car garage, 1979 build, and stronger finished presentation.)
5. 616 11th St NW – 3/2 | 1,504 sf | Sold $520,000 ($346/sf) | Condition: Closed/Premium STR Ceiling (Same size and within six months, but fully furnished operational Airbnb with STR setup, newer roof, impact windows/doors, electrical updates, and outdoor amenities. Ceiling only.)
6. 721 Cork St – 3/1 | 1,176 sf | Sold $275,000 ($234/sf) | Condition: Closed/As-Is Floor (Useful as a lower as-is reference, not an ARV comp.)

The CMA supports the subject in the low-to-mid $400Ks after a full retail renovation, but the $445K number should be treated as aggressive, not conservative. The most defensible clean underwriting number is around $425K. A $440K to $445K resale is possible only if the rehab is polished, systems are solved, the “429-A”/legal-use question is clean, and the oversized lot is presented well.

Estimated ARV: $399,000 to $415,000 +/-

Projected Rent: $2,500 to $2,800/mo +/-