3517 15th Avenue South · St. Petersburg, FL 33711

$109,000

2 bd · 1.0 ba · 988 sqft · SingleFamily public records · 2 Days on market

Built 1935 5,998 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. A wonderful opportunity to build something of your own in the heart of South St. Petersburg. Zoned NTM-1 permitting up to 4 residential units. Situated in a neighborhood that puts you minutes from the energy of downtown St. Pete, easy access to the Gulf beaches, and close to parks, dining, and everything this vibrant community has to offer. No HOA. Flood Zone X. Vacant land opportunities within St. Petersburg city limits are becoming increasingly rare — don't miss this one.

Key facts

• Close to parks
• Flood zone x
• Close to dining

Tags

• SOUTH ST PETERSBURG
• MINUTES FROM DOWNTOWN
• EASY ACCESS TO GULF BEACHES
• CLOSE TO PARKS
• CLOSE TO DINING
• FLOOD ZONE X

Property features AI

Finance

• Other: Property type: Residential, Single Family; Listing noted as third-party; Unfurnished
• Financial info: Property listed as homestead; No lease restrictions indicated
• HOA & community: No HOA or association

Exterior

• Parking: No parking information provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; Fixer condition; One story; South-facing
• Construction: Frame construction; Shingle roof; Pillar/post/pier foundation; Built on a 0.14-acre lot
• Exterior features: Shed(s) and storage structures on property; Paved road access

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Wood-burning fireplace; No built-in appliances listed; No notable interior features specified
• Laundry & utility: No laundry features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Cap rate 16.7% vs local median 2.6% in St. Petersburg — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: Fairmount Park Elementary School (math 21% / reading 15%, grade F, #2,115 of 2,144 statewide, top 99%, 500 students, 91% FRL); Gibbs High School (math 26% / reading 41%, grade F, #400 of 667 statewide, top 61%, 1,160 students, 64% FRL) — zoned schools average 78% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 51% district-wide (-25 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.5%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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 ($67k/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 $754 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.84% ✓
• Cap rate: 16.65%
• Cash-on-cash: 37.00%
• DSCR: 2.65
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $265,772
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3458 17th Ave S	0.17mi	2/1.0	932 (-6%)	12mo	$215,000	$231	73
3127 Oakley Ave S	0.36mi	3/1.0 (+1)	950 (-4%)	6mo	$245,000	$258	66
3810 18th Ave S	0.37mi	3/2.0 (+1)	986 (-0%)	9mo	$265,000	$269	66
1742 31st St S	0.46mi	3/1.5 (+1)	988 (0%)	9mo	$264,855	$268	64
4127 12th Ave S	0.50mi	3/1.0 (+1)	1,032 (+4%)	0mo	$300,000	$291	64
1745 41st St S	0.50mi	2/2.0	961 (-3%)	8mo	$300,000	$312	62
2323 35th St S	0.59mi	3/1.0 (+1)	968 (-2%)	6mo	$180,000	$186	59
4047 11th Ave S	0.48mi	3/1.0 (+1)	920 (-7%)	9mo	$299,900	$326	54
3235 6th Ave S	0.70mi	3/1.0 (+1)	954 (-3%)	12mo	$282,000	$296	46
1401 43rd St S	0.61mi	3/1.0 (+1)	1,056 (+7%)	11mo	$250,000	$237	46
525 38th St S	0.71mi	2/1.0	895 (-9%)	10mo	$255,000	$285	43
4331 16th Ave S	0.61mi	3/1.0 (+1)	900 (-9%)	12mo	$145,000	$161	41

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: 29.6%
• Equity multiple: 2.19×
• Total profit: $36,351
• Equity at exit: $16,252

10-year hold

• IRR: 35.3%
• Equity multiple: 3.82×
• Total profit: $85,924
• Equity at exit: $9,424

Cash invested: $30,520 (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 33711

• Rents YoY: -1.5%
• Active inventory: 266
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$572
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $941

Break-even live

Break-even rent $819

Max offer price $109,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,003	-5% $972	+0% $941	+5% $910	+10% $879
Rent	-10% $782	-5% $862	+0% $941	+5% $1,021	+10% $1,100
Rate	-1.0pp $996	-0.5pp $969	base $941	+0.5pp $913	+1.0pp $884

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3535 14th Ave S Saint Petersburg, FL	3.0	1.0	768	$1,650	$2.15	5d	1	0.05mi
1665 37th St S Saint Petersburg, FL	3.0	1.0	867	$1,850	$2.13	12d	1	0.17mi
1642 39th St S Saint Petersburg, FL	3.0	1.0	975	$1,995	$2.05	21d	1	0.27mi
1227 Fargo St S Unit 1 St. Petersburg, FL	2.0	1.0	780	$1,600	$2.05	25d	1	0.28mi
1147 32nd St S Saint Petersburg, FL	2.0	1.0	780	$1,350	$1.73	16d	1	0.35mi
3089 15th Ave S Saint Petersburg, FL	3.0	2.0	1000	$2,195	$2.19	5d	1	0.42mi
3091 15th Ave S St. Petersburg, FL	3.0	2.0	1000	$2,195	$2.19	25d	1	0.43mi
3936 9th Ave S Saint Petersburg, FL	2.0	1.0	696	$1,895	$2.72	9d	1	0.44mi
3246 20th Ave S Saint Petersburg, FL	2.0	1.0	864	$1,795	$2.08	25d	1	0.48mi
1901 31st St S Unit 1/2 St. Petersburg, FL	2.0	1.0	721	$1,950	$2.70	4d	1	0.53mi
1628 43rd St S Saint Petersburg, FL	3.0	2.0	1045	$2,100	$2.01	25d	1	0.54mi
1361 29th St S Saint Petersburg, FL	3.0	1.0	819	$2,400	$2.93	25d	1	0.59mi
1327 43rd St S Saint Petersburg, FL	3.0	1.5	959	$2,250	$2.35	5d	1	0.61mi
4327 17th Ave S Saint Petersburg, FL	2.0	1.0	880	$2,500	$2.84	25d	1	0.62mi
626 31st St S Saint Petersburg, FL	3.0	1.0	1040	$2,200	$2.12	4d	1	0.72mi
2510 38th St S Saint Petersburg, FL	3.0	1.5	1104	$2,340	$2.12	5d	1	0.75mi
2510 38th St S Saint Petersburg, FL	3.0	1.5	1104	$2,340	$2.12	25d	1	0.75mi
3460 4th Ave S Unit 1 St. Petersburg, FL	1.0	1.0	544	$1,550	$2.85	25d	1	0.77mi
3460 4th Ave S Unit 3 St. Petersburg, FL	2.0	1.0	544	$1,800	$3.31	25d	1	0.77mi
1727 45th St S Unit B St. Petersburg, FL	1.0	1.0	600	$1,150	$1.92	9d	1	0.78mi
4421 11th Ave S Saint Petersburg, FL	3.0	2.0	945	$2,000	$2.12	5d	1	0.78mi
3421 4th Ave S Saint Petersburg, FL	2.0	1.5	938	$1,805	$1.92	5d	1	0.80mi
1827 Auburn St S Saint Petersburg, FL	3.0	1.0	1056	$1,855	$1.76	5d	1	0.81mi
2601 18th Ave S Unit B St. Petersburg, FL	1.0	1.0	600	$1,100	$1.83	25d	1	0.82mi
4545 12th Ave S Saint Petersburg, FL	2.0	1.0	660	$2,000	$3.03	5d	1	0.83mi
2547 14th Ave S Saint Petersburg, FL	2.0	1.0	726	$2,800	$3.86	5d	1	0.86mi
3145 4th Ave S St. Petersburg, FL	2.0	1.5	938	$2,020	$2.15	25d	1	0.87mi
2710 22nd Ave S Saint Petersburg, FL	3.0	1.0	1083	$2,450	$2.26	5d	1	0.88mi
3550 2nd Ave S St. Petersburg, FL	2.0	1.0	720	$2,800	$3.89	25d	1	0.89mi
201 35th St S Saint Petersburg, FL	2.0	1.0	850	$1,680	$1.98	3d	1	0.90mi
4631 Queensboro Ave S Unit 4631 St. Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	9d	1	0.90mi
4631 Queensboro Ave S St Petersburg, FL	3.0	2.0	1094	$2,600	$2.38	12d	1	0.90mi
3774 Abington Ave S Unit A St. Petersburg, FL	2.0	1.0	710	$1,400	$1.97	14d	1	0.91mi
505 43rd St S Unit 5051/2 St. Petersburg, FL	2.0	1.0	800	$2,000	$2.50	25d	1	0.92mi
4618 20th Ave S Saint Petersburg, FL	2.0	1.0	921	$1,800	$1.95	4d	1	0.96mi
3627 29th Ave S Saint Petersburg, FL	2.0	1.0	1040	$2,000	$1.92	9d	1	0.96mi
3801 1st Ave S Saint Petersburg, FL	2.0	1.0	900	$1,975	$2.19	19d	1	1.01mi
4541 6th Ave S Saint Petersburg, FL	3.0	1.0	945	$1,100	$1.16	16d	1	1.01mi
2423 Auburn St S Saint Petersburg, FL	3.0	2.0	1057	$1,650	$1.56	25d	1	1.01mi
2425 Auburn St S Saint Petersburg, FL	3.0	2.0	1092	$2,195	$2.01	5d	1	1.02mi

Listing history 2 events

1. 2026-06-07
   remarks 518-char remark
2. 2026-06-07
   listed $109,000 Pending 2 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: $362 · $30/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$543/yr (+$45/mo · 150.1%)

ⓘ 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 ≥106°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,126
• − Mortgage interest: −$6,106
• − Property taxes: −$362
• − Insurance: −$545
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$3,171
• Taxable income: $10,082
• Est. tax owed @ 24.0%: −$2,420
• After-tax cash flow: $8,874/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 — St. Petersburg

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Petersburg, FL
• County: Pinellas County · 939,478 people
• City population: 249,151
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 20,013
• Household income: $66,540
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 903.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 45% Black 45% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 7% · Canada, Dominican Republic
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 3% Other Indo-European 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: ▼ -313.54%
• Current HPI: 338.2712
• Rent YoY: ▼ -1.47%
• 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

2 events — show timeline

• 2026-06-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-06-04 Listed $109,000 Stellar MLS as Distributed by MLS Grid