420 Newton Ave S · St. Petersburg, FL 33701

$425,000

9 bd · 2.0 ba · 1,015 sqft · MultiFamily public records · 245 Days on market

Built 1954 5,110 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 +1.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

ANOTHER GREAT INCOME PROPERTY THAT HAS A GREAT INCOME OPPORTUNITY IN A AREA THAT IS GROWING AND HAS A STRONG RENTAL DEMAND. THIS IS A BLOCK BUILDING THAT HAS WASHER AND DRYER HOOK-UP. NORTH BUILDING HAS 2 UNITS AND THE SOUTH BUILDING HAS A UPSTAIRS STUDIO WITH AN ATTACHED GARAGE . THIS TRIPLEX IS MINUTES AWAY FROM A VIBRANT DOWN TOWN, SHOPS, MAJOR-HIGHS, AND A BEAUTIFUL PIER WITH A RELAXING WATER VIEW.

Key facts

• Upstairs studio
• Attached garage
• Central air and heat

Tags

• WASHER AND DRYER HOOK-UP
• CENTRAL AIR AND HEAT
• UPSTAIRS STUDIO
• ATTACHED GARAGE
• MINUTES AWAY FROM DOWNTOWN
• RELAXING WATER VIEW

Property features AI

Finance

• Other: Total living area reported as 1,431 square feet; Property type listed as Residential Income; Property subtype: Triplex; CDD present
• Financial info: Annual net income reported: $43,200
• HOA & community: Has HOA (no association fees); Senior community; Pets allowed

Exterior

• Parking: Attached garage (1 garage space total)
• Utilities: Private water; Public sewer; Public utilities
• Home design: Residential income property (Triplex); Two buildings on the property
• Construction: Block construction; Shingle roof; Slab foundation; Built on approximately 0.12 acre lot (56 x 90)
• Exterior features: Other exterior features; Asphalt road access

Interior

• Bedrooms: Total of 3 bedrooms (includes units across the triplex)
• Bathrooms: Each unit includes 1 bathroom
• Heating & cooling: Ductless heating; Wall/window cooling units
• Interior features: Ceiling fans
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $707/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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.
• Market conditions: Rents falling (-3.6%/yr); 345 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $6,527/mo this rent would consume 107% of the median local household income ($74k/yr) (locally 2230% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 $119k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $46k; list at $425k implies a 834% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.69%
• DSCR: 2.14
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.40×
• Total profit: $47,277
• Equity at exit: $63,369

10-year hold

• IRR: 16.9%
• Equity multiple: 2.19×
• Total profit: $141,872
• Equity at exit: $36,746

Cash invested: $119,000 (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 33701

• Rents YoY: -3.6%
• Active inventory: 345
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $6,527 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$203 /mo · $2,430/yr
• Insurance: −$177
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,371
• Net cashflow: $2,121

Break-even live

Break-even rent $3,842

Max offer price $425,000

Occupancy floor 62%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$6,528
Total (3 units)			$6,527

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $425,000 Active 245 DOM
2. 2026-06-17
   days on market $425,000 Active 244 DOM
3. 2026-06-16
   days on market $425,000 Active 243 DOM
4. 2026-06-15
   days on market $425,000 Active 242 DOM
5. 2026-06-13
   days on market $425,000 Active 240 DOM
6. 2026-06-09
   days on market $425,000 Active 236 DOM
7. 2026-06-08
   days on market $425,000 Active 235 DOM
8. 2026-06-07
   days on market $425,000 Active 234 DOM
9. 2026-06-04
   days on market $425,000 Active 231 DOM
10. 2026-06-03
    days on market $425,000 Active 230 DOM
11. 2026-06-01
    days on market $425,000 Active 228 DOM
12. 2026-05-31
    days on market $425,000 Active 227 DOM
13. 2026-03-07
    status Active
14. 2026-03-06
    historical
15. 2026-02-16
    status Active
16. 2026-01-20
    status Pending
17. 2026-01-20
    status Active
18. 2026-01-20
    status Pending
19. 2025-09-17
    listed $425,000 Active
20. 1998-01-27
    soldstatus $45,500
21. 1998-01-27
    soldstatus $45,500

ⓘ 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: $2,430 · $203/mo
• Projected year-2 tax: $3,528 · $294/mo
• Expected delta: +$1,097/yr (+$91/mo · 45.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,324
• − Mortgage interest: −$23,807
• − Property taxes: −$2,430
• − Insurance: −$7,244
• − Repairs & maintenance: −$6,266
• − Management: −$6,266
• − Depreciation: −$12,364
• Taxable income: $19,948
• Est. tax owed @ 24.0%: −$4,788
• After-tax cash flow: $20,670/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): 18,823
• Household income: $73,542
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2230.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 10% Black 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -425.52%
• Current HPI: 486.3846
• Rent YoY: ▼ -3.56%
• 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

+834.1% since first listed

9 events — show timeline

• 2026-03-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-17 Listed $425,000 Stellar MLS as Distributed by MLS Grid
• 1998-01-27 Sold (Public Records) $45,500 Public Records
• 1998-01-27 Sold (Public Records) $45,500 Public Records

Property tax history

+15.8%/yr

Latest (2025): $2,430 · +17.7% YoY. Source: county tax records.