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    Spacious Condo with Golf Course Views Title is generated by Realmo AI

    225 COUNTRY CLUB DRIVE 1207, Largo, FL 33771

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    For Sale
    $245,000

    Comfortable 2-bedroom condo with updated kitchen and serene views.

    Type:Condo/Townhome
    Property size:
    1,440 SF
    Price / SF:
    $170/SF
    Added:
    Oct 5, 2024
    Days on Market:
    608
    Last Refresh:
    May 20 at 2:58 am

    Property Features for 225 COUNTRY CLUB DRIVE 1207

    General Information

    Standard status
    Active
    Size
    1,440 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1975

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    Listing Contact
    Heloise Povey
    Heloise Povey

    Listing agent Heloise Povey License #3327338

    Listing office COASTAL PROPERTIES GROUP INTERNATIONAL

    Listing date Oct 5, 2024

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of COASTAL PROPERTIES GROUP INTERNATIONAL

    HighLights

    • Serene direct views overlooking the community pond and greenspace of East Bay Golf Club from west‑facing living areas, offering gorgeous sunset skies.
    • Low monthly fees cover cable, high‑speed internet, building insurances, water/sewer, trash, grounds and building exterior maintenance, community pool, and 2 club rooms.
    • Updated kitchen with shaker‑style cabinets, plenty of storage and counter space, and a spacious closet pantry.
    • Special assessment for recent building restoration (roof, balconies, railings, walkways, painting) has been PAID IN FULL by the seller.
    • Newer impact living room window and sliders, inside laundry room (washer and dryer included), and assigned storage locker on the same floor.
    • Assigned covered carport with easy access, plenty of guest parking, and two building elevators.

    Overview

    This spacious, low-maintenance, 2-bedroom, 2-full bath, 2nd-floor condo is located in Building F of Penthouse Greens, in a quiet neighborhood in a central Pinellas location. The west-facing living, dining, and kitchen areas offer views overlooking the community pond and greenspace of East Bay Golf Club. The updated kitchen features shaker-style cabinets, ample storage and counter space, and a spacious closet pantry. The large primary bedroom includes an oversized walk-in closet and an ensuite bathroom with a double sink vanity and separate tub/shower/toilet area. There is a good-sized 2nd bedroom and a full guest bathroom with a walk-in shower. The unit also features an inside laundry room with a washer and dryer. A newer impact living room window and sliders have been installed. The water heater was replaced in 2019, and the HVAC system was installed in 2008. In addition to in-unit storage, there is an assigned storage locker on the same floor, suitable for storing bikes. The building has two elevators. The unit comes with an assigned covered carport and plenty of guest parking. The association is well-run and proactive, with low monthly fees covering cable, high-speed internet, building insurances, water/sewer, trash, grounds and building exterior maintenance, a community pool, and two club rooms. Recent association projects include a roof replacement in 2018 and restoration work to balconies, railings, and walkways completed between 2021-2023. The special assessment for this work has been paid in full by the seller. A milestone inspection was completed in September 2023 with no issues identified. The building is of all-concrete construction and is located in a non-flood zone. Note that this is a no-pets building. The property size is 1440 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $25.9k $18.00
    − Vacancy −$1.8k −$1.28
    EGI $24.1k $16.72
    − OpEx −$10.8k −$7.52
    NOI $13.2k $9.20
    1,440 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $189.2K
    $165.6K – $220.7K (±1% cap)
    NOI $13,244 @ 7.0% cap · market cap 5.41%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $374.6K
    $327.7K – $437.0K (±1% cap)
    NOI $26,219 @ 7.0% cap · market cap 10.70%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sea Towers Condominium Real Estate Agency The Fairway at Penthouse Greens Condominium Complex Solar Mania USA ... Production Facility Tom and Julie's Condo Hotel & Motel Penthouse Greens - Building ... Condominium Complex

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.770795
    Latitude
    27.914558

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    FAQs

    What type of property is this?
    Residential income property - Comfortable 2-bedroom condo with updated kitchen and serene views.
    Where is this residential income property located?
    The property is located at 225 COUNTRY CLUB DRIVE 1207 Largo, FL.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: Serene direct views overlooking the community pond and greenspace of East Bay Golf Club from west‑facing living areas, offering gorgeous sunset skies.; Low monthly fees cover cable, high‑speed internet, building insurances, water/sewer, trash, grounds and building exterior maintenance, community pool, and 2 club rooms.; Updated kitchen with shaker‑style cabinets, plenty of storage and counter space, and a spacious closet pantry.
    (727) 515-1418
    We can help!
    Listing Contact
    Heloise Povey
    Heloise Povey
    Real Estate License ID: 3327338
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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