5356 81st St N · West Lealman, FL 33709

$100,000

2 bd · 1.0 ba · 1,040 sqft · Other · 23 Days on market

Built 1981 Good condition

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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 +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

The kitchen shines with stainless steel appliances and plenty of counter and cabinet space, perfect for at-home cooking and entertaining. Large Primary Suite with ample closet space and spacious 2nd Bedroom with lots of room for family or guests. A highlight is the extra space for a home officeor relaxing retreat. The unit includes convenient access to a central laundry room just steps away, and the monthly HOA fee covers an impressive array of utilities and services: internet, gas, water, sewer, trash, cable-tv and more. Paradise Shores is centrally located in Pinellas County, close to the beaches, restaurants, and shopping. This is an ideal year-round residence or a tropical seasonal esca

Key facts

• Convenient access
• Central laundry room
• Built 1981

Tags

• STAINLESS STEEL APPLIANCES
• EXTRA SPACE FOR A HOME OFFICE
• CENTRAL LAUNDRY ROOM
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 1.8% in West Lealman — 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 81/100 on livability (#84 in FL, #1,396 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities 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.
• Market conditions: Rents flat; 309 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% of the median local income ($54k/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 $691 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.76% ✓
• Cap rate: 14.65%
• Cash-on-cash: 29.84%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.99% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,225
• Equity at exit: $14,910

10-year hold

• IRR: 4.3%
• Equity multiple: 1.27×
• Total profit: $7,625
• Equity at exit: $8,646

Cash invested: $28,000 (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 33709

• Rents YoY: 1.0%
• Active inventory: 309
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $270

Break-even live

Break-even rent $1,415

Max offer price $100,000

Occupancy floor 80%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5287 81st St N #26 Saint Petersburg, FL	2.0	2.0	1010	$1,500	$1.49	4d	1	0.07mi
5357 81st St N #14 Saint Petersburg, FL	2.0	2.0	1110	$1,550	$1.40	24d	1	0.07mi
5530 80th St N Unit C204 Saint Petersburg, FL	1.0	1.0	880	$1,450	$1.65	24d	1	0.09mi
5217 81st St N #22 Saint Petersburg, FL	2.0	1.0	1010	$1,700	$1.68	24d	1	0.12mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	0.13mi
5521 80th St N #312 Saint Petersburg, FL	1.0	1.0	1055	$1,500	$1.42	4d	1	0.14mi
5750 80th St N St Petersburg, FL	1.0–2.0	1.0–1.5	987	$1,800	$1.82	24d	2	0.24mi
5725 80th St N #210 Saint Petersburg, FL	2.0	2.0	1125	$1,900	$1.69	24d	1	0.27mi
8002 48th Ave N Saint Petersburg, FL	1.0	1.0	1050	$2,000	$1.90	3d	1	0.40mi
5980 80th St N #205 St Petersburg, FL	2.0	2.0	1100	$1,950	$1.77	4d	1	0.40mi
4653 78th Ln N St Petersburg, FL	3.0	2.0	1312	$2,695	$2.05	24d	1	0.51mi
7249 Parkside Villas Dr N Saint Petersburg, FL	2.0	2.0	956	$1,950	$2.04	24d	1	0.74mi
7238 55th Ave N Saint Petersburg, FL	2.0	2.0	1085	$1,899	$1.75	18d	1	0.76mi
4930 72nd St N Saint Petersburg, FL	2.0	1.0	1352	$1,950	$1.44	4d	1	0.79mi
7140 55th Ave N Saint Petersburg, FL	3.0	2.0	1085	$2,000	$1.84	22d	1	0.85mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.96mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.96mi
5410 70th Way N Saint Petersburg, FL	3.0	1.0	1160	$2,100	$1.81	4d	1	0.96mi
5410 70th Way N Saint Petersburg, FL	3.0	1.0	1354	$2,100	$1.55	3d	1	0.96mi
6468 Bonnie Bay Cir N Pinellas Park, FL	2.0	2.0	970	$1,800	$1.86	14d	1	0.99mi
6366 71st St N Pinellas Park, FL	2.0	2.0	970	$2,200	$2.27	24d	1	1.03mi
9071 47th Ave N St. Petersburg, FL	2.0	2.0	1100	$2,000	$1.82	24d	1	1.05mi
6398 Woodland Blvd Unit 1366035P Pinellas Park, FL	3.0	2.0	1367	$5,922	$4.33	16d	1	1.10mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	1.10mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	1.12mi
5136 68th St N Unit B St. Petersburg, FL	3.0	1.0	1302	$1,900	$1.46	4d	1	1.12mi
3855 39th Ave N St Petersburg, FL	2.0	2.5	1100	$1,850	$1.68	22d	1	1.12mi
3501 Boca Ciega Dr N Saint Petersburg, FL	2.0	2.0	1144	$3,400	$2.97	4d	1	1.18mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	1.21mi
3451 79th St N Saint Petersburg, FL	2.0	2.0	1150	$2,500	$2.17	24d	1	1.23mi
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	24d	1	1.24mi
6205 Shoreline Dr #1305 Saint Petersburg, FL	2.0	2.0	1205	$2,100	$1.74	4d	1	1.42mi
8950 Park Blvd Seminole, FL	2.0	2.0	1165	$1,698	$1.46	24d	3	1.44mi
8950 Park Blvd Seminole, FL	2.0	2.0	1160	$1,748	$1.51	24d	2	1.44mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	1.47mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	1.48mi

Listing history 13 events

1. 2026-06-18
   days on market $100,000 Active 23 DOM
2. 2026-06-17
   days on market $100,000 Active 22 DOM
3. 2026-06-16
   days on market $100,000 Active 21 DOM
4. 2026-06-15
   days on market $100,000 Active 20 DOM
5. 2026-06-13
   days on market $100,000 Active 18 DOM
6. 2026-06-09
   days on market $100,000 Active 14 DOM
7. 2026-06-08
   days on market $100,000 Active 13 DOM
8. 2026-06-07
   days on market $100,000 Active 12 DOM
9. 2026-06-04
   days on market $100,000 Active 9 DOM
10. 2026-06-03
    days on market $100,000 Active 8 DOM
11. 2026-06-01
    days on market $100,000 Active 6 DOM
12. 2026-05-31
    days on market $100,000 Active 5 DOM
13. 2026-05-26
    listed $100,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $21,072
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$5,618
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$2,909
• Taxable income: $2,071
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $2,738/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This property is in good condition with a well-maintained pool and ample space for a home office or relaxing retreat. It is an ideal year-round residence or a tropical seasonal escape.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Painting exterior and interior — Fresh paint can make the home look more appealing and increase its value.
• Both Pool maintenance and cleaning — A clean and well-maintained pool can attract more potential buyers or renters and add to the home's value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior and interior — Fresh paint can make the home look more appealing and increase its value. ↑
• Both Pool maintenance and cleaning — A clean and well-maintained pool can attract more potential buyers or renters and add to the home's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — West Lealman

• Score: 81/100
• State rank: #84
• US rank: #1396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 25,371
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 25,050
• Household income: $53,501
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 712.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 10% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Vietnamese 2%

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: ▼ -416.74%
• Current HPI: 391.368
• Rent YoY: ▲ 0.99%
• 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

1 event — show timeline

• 2026-05-26 Listed $100,000 FSBO.com