This report focuses on homes near 121 7th St, Belleair Beach, Florida that are reasonably close to the subject property's configuration of approximately 4 bedrooms, 2 bathrooms and 2,398 square feet.
The subject is newer than many nearby non-waterfront comps and has a strong size profile for Belleair Beach. Elevation, storm history, renovation quality and major-system condition are key value drivers.
Excellent size and bedroom match. Only about 44 square feet smaller than the subject. Renovated pool home, but much older construction, so condition and age adjustments matter.
Very close in size at only about 118 square feet smaller. Updated pool home and one of the most useful non-waterfront retail benchmarks in the comp set.
Strong 4-bedroom comparison and a useful upper-end benchmark. Extensively renovated and positioned as a luxury property, so it should be treated as a superior-condition comp.
Extremely relevant geographically because it is on the same street and very close in size. Age, double-lot characteristics and condition make it a lower-end benchmark rather than a direct one-to-one comp.
A renovated pool home on a substantially larger lot. This represents current seller expectations more than a proven closed-market value.
Smaller than the subject, but useful for measuring current asking levels for updated non-waterfront homes in the immediate Belleair Beach market.
| Property | Beds/Baths | Sq Ft | Sold / Ask | $/SF | Weight |
|---|---|---|---|---|---|
| 109 13th St | 4 / 3 | 2,354 | $850,000 Sold | $361 | High |
| 119 13th St | 3 / 2 | 2,280 | $950,000 Sold | $417 | High |
| 107 17th St | 4 / 2.5 | 2,276 | $1,050,000 Sold | $461 | High / Upper |
| 112 7th St | 3 / 3 | 2,316 | $700,000 Sold | $302 | High for location; lower for condition |
| 3203 Hibiscus Dr W | 4 / 3 | 2,104 | $1,169,999 Ask | $556 | Active competition |
| 111 17th St | 3 / 2 | 1,955 | $880,000 Ask | $450 | Active competition |
| Benchmark | Indicated Value for 2,398 Sq Ft |
|---|---|
| $360/SF | $863,280 |
| $400/SF | $959,200 |
| $425/SF | $1,019,150 |
| $450/SF | $1,079,100 |
| $475/SF | $1,139,050 |
For an investor acquisition, the retail estimate should not automatically be treated as ARV. Based on this comp set, a renovated resale assumption of approximately $1.05 million to $1.10 million appears reasonable before confirming the property's actual renovation level, permits, elevation, storm history and major-system condition.
A maximum cash offer should then be calculated by subtracting expected renovation costs, resale transaction costs, holding expenses, financing costs where applicable, contingency reserve and required investor profit.
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