6950 46th Ave N #1 · West Lealman, FL 33709

$110,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 11 Days on market

Built 1979 6.98 ac lot $300/mo HOA · 17% of rent ↓ 15% since listing

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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
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated Seller!! Welcome to this charming and conveniently located mobile home in a 55+ park, Victory Estates. This community offers a peaceful setting while being just minutes from shopping, dining, Bay Pines, and entertainment options. You’re also a short drive from beautiful Gulf beaches, parks, and vibrant downtown St. Pete. This well-maintained home offers comfortable living with an open layout that maximizes space and natural light. Enjoy easy access with no stairs, making daily living a breeze. Ideal for a primary residence, seasonal getaway, don’t miss your chance to own a slice of Florida living at an affordable price!

Key facts

• Open layout
• Peaceful setting
• 6.98 acre lot

Tags

• OPEN LAYOUT
• SHORT DRIVE GULF BEACHES
• PEACEFUL SETTING

Property features AI

Finance

• Other: Total lot approximately 6.98 acres; Living area reported as 960 (source: public records); Building area reported as 1,776 (source: public records)
• HOA & community: Has HOA — $300 monthly; Community clubhouse; Community pool; Buyer approval required; Senior community; No pets allowed

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Broadband/high-speed internet available
• Home design: Manufactured home (double wide); One story; Northeast facing; Entry level: One
• Construction: Metal siding; Metal roof; Crawlspace foundation; Built as a manufactured double wide
• Exterior features: Awning(s); Asphalt road access

Interior

• Kitchen: Built-in oven; Range; Range hood; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Walk-in closet(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.3% 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; 40 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 40% 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 $761 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 + 1.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.62% ✓
• Cap rate: 11.33%
• Cash-on-cash: 18.00%
• DSCR: 1.80
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $72,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4173 72nd St N #30	0.30mi	2/2.0	912 (-5%)	4mo	$68,000	$75	74

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 · 0.99% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $8,200
• Equity at exit: $16,401

10-year hold

• IRR: 14.3%
• Equity multiple: 2.03×
• Total profit: $31,646
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,787 high
• Mortgage (P&I): −$577
• Tax from tax record: −$27 /mo · $327/yr
• Insurance: −$46
• HOA: −$300
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $462

Break-even live

Break-even rent $1,202

Max offer price $110,000

Occupancy floor 69%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	24d	1	0.03mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	0.20mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	0.25mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	0.26mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.29mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.29mi
7317 46th Ave N Unit 4 St. Petersburg, FL	1.0	1.0	528	$1,200	$2.27	14d	1	0.37mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	0.42mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	0.45mi
3855 39th Ave N St Petersburg, FL	2.0	2.5	1100	$1,850	$1.68	22d	1	0.59mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	15d	1	0.61mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	3d	6	0.63mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	0.66mi
5411 70th Ln N Saint Petersburg, FL	2.0	1.0	600	$1,800	$3.00	24d	1	0.67mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	0.75mi
7140 55th Ave N Saint Petersburg, FL	3.0	2.0	1085	$2,000	$1.84	22d	1	0.75mi
7249 Parkside Villas Dr N Saint Petersburg, FL	2.0	2.0	956	$1,950	$2.04	24d	1	0.77mi
7238 55th Ave N Saint Petersburg, FL	2.0	2.0	1085	$1,899	$1.75	18d	1	0.78mi
6423 34th Ter N Saint Petersburg, FL	3.0	1.0	900	$2,200	$2.44	4d	1	0.81mi
3000 70th Ln N Saint Petersburg, FL	2.0	1.0	875	$1,600	$1.83	22d	1	0.88mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,595	$1.93	8d	1	0.88mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,400	$2.24	24d	1	0.98mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,300	$2.08	2d	1	0.98mi
8002 48th Ave N Saint Petersburg, FL	1.0	1.0	1050	$2,000	$1.90	3d	1	1.01mi
2871 67th St N Saint Petersburg, FL	3.0	1.0	1075	$2,500	$2.33	24d	1	1.01mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,538	$1.54	3d	2	1.02mi
6190 36th Ave N Saint Petersburg, FL	2.0	1.0	1008	$2,500	$2.48	4d	1	1.03mi
5217 81st St N #22 Saint Petersburg, FL	2.0	1.0	1010	$1,700	$1.68	24d	1	1.12mi
5521 80th St N #312 Saint Petersburg, FL	1.0	1.0	1055	$1,500	$1.42	4d	1	1.14mi
5357 81st St N #14 Saint Petersburg, FL	2.0	2.0	1110	$1,550	$1.40	24d	1	1.14mi
5287 81st St N #26 Saint Petersburg, FL	2.0	2.0	1010	$1,500	$1.49	4d	1	1.15mi
6215 58th Ave N Saint Petersburg, FL	2.0	1.0	850	$1,900	$2.24	4d	1	1.19mi
6366 71st St N Pinellas Park, FL	2.0	2.0	970	$2,200	$2.27	24d	1	1.22mi
5530 80th St N Unit C204 Saint Petersburg, FL	1.0	1.0	880	$1,450	$1.65	24d	1	1.23mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,375	$1.72	3d	4	1.24mi
5725 80th St N #210 Saint Petersburg, FL	2.0	2.0	1125	$1,900	$1.69	24d	1	1.25mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	1.25mi
5870 38th Ave N #40 Saint Petersburg, FL	2.0	1.0	985	$1,800	$1.83	17d	1	1.31mi
5750 80th St N St Petersburg, FL	1.0–2.0	1.0–1.5	987	$1,800	$1.82	24d	2	1.31mi
5980 80th St N #205 St Petersburg, FL	2.0	2.0	1100	$1,950	$1.77	4d	1	1.32mi

HOA detail

• Monthly dues: $300 · $3,600/yr

Listing history 5 events

1. 2026-05-11
   status Pending
2. 2026-04-30
   listed $110,000 Active
3. 2026-01-31
   historical
4. 2026-01-07
   price $118,000
5. 2025-12-01
   listed $130,000 Active

ⓘ 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: $327 · $27/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$586/yr (+$49/mo · 179.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $21,447
• − Mortgage interest: −$6,162
• − Property taxes: −$327
• − Insurance: −$550
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − HOA: −$3,600
• − Depreciation: −$3,200
• Taxable income: $4,177
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $4,541/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 — 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
• 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

-15.4% since first listed

5 events — show timeline

• 2026-05-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-01 Listed $130,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-6.5%/yr

Latest (2025): $327 · +9.7% YoY. Source: county tax records.