1846 2nd Ave N · St. Petersburg, FL 33713

$750,000

24 bd · 3.0 ba · 1,988 sqft · MultiFamily public records · 124 Days on market

Built 1921 4,805 sqft lot

---

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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Historic Kenwood Quadruplex Investment | Walk to Grand Central & Downtown. Located at 1846 2nd Ave N, St. Petersburg, FL 33713, this rare 1921 Craftsman Quadruplex in highly sought-after Historic Kenwood offers the perfect blend of historic charm and income-producing potential. Featuring 3 one-bedroom/one-bath units and 1 three-bedroom/one-bath unit, totaling 2,622 sq ft, this multi-family property sits on a generous 60x80 lot with a 2-car garage and always, plenty of street parking. Positioned in Flood Zone X (non-evacuation zone) with new impact windows, new premium vinyl siding, and central A/C in all 4 units — no wall or window units, this is a turnkey opportunity with upsid

Key facts

• Zoned multi-family
• New impact windows
• 4,805 sq ft lot

Tags

• HISTORIC KENWOOD QUADRUPLEX
• NEW IMPACT WINDOWS
• NEW PREMIUM VINYL SIDING
• CENTRAL A/C IN ALL UNITS
• ZONED MULTI-FAMILY
• INDIVIDUALLY METERED FOR GAS

Property features AI

Finance

• Financial info: Gross income reported: $74,700; Annual net income reported: $57,455; Annual expenses reported: $17,255; Total monthly expenses reported: $1,438; Tenants pay electricity, gas, sewer and trash collection; Pro forma rents indicated: $1,900 for the 3-bed unit; $1,375 for each 1-bed unit
• HOA & community: No association reported

Exterior

• Parking: Curb and on-street parking; 2-car attached garage
• Utilities: Public water; Public sewer; Public utilities
• Home design: Residential income property (quadruplex); Two levels; Two total buildings on the property
• Construction: Vinyl siding with frame construction; Shingle roof; Crawlspace foundation; Built/condition details not specified
• Exterior features: Private mailbox; Corner lot; Located in a historic district; Asphalt and brick road frontage

Interior

• Kitchen: Range; Refrigerator; Gas water heater
• Bedrooms: 6 bedrooms total; One 3-bedroom unit and three 1-bedroom units (multi-unit property)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: Multiple full bathrooms served across units (each listed unit has 1 bathroom)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Double-pane, insulated and storm windows
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $605/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $750k).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: Woodlawn Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 267 students, 73% FRL); St. Petersburg High School (math 31% / reading 61%, grade D-, #220 of 667 statewide, top 33%, 1,723 students, 39% FRL).
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-14 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 307 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $9,163/mo this rent would consume 147% of the median local household income ($75k/yr) (locally 1076% 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 $5k of loan paydown is wiped out by about $22k 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 124 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $750k implies a 1530% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $660,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.84%
• DSCR: 1.62
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $11,643
• Equity at exit: $111,827

10-year hold

• IRR: 8.7%
• Equity multiple: 1.60×
• Total profit: $126,200
• Equity at exit: $64,846

Cash invested: $210,000 (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 33713

• Rents YoY: 0.7%
• Active inventory: 307
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $9,163 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$571 /mo · $6,855/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,924
• Net cashflow: $2,422

Break-even live

Break-even rent $6,097

Max offer price $750,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$9,164
Total (4 units)			$9,163

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $750,000 Active 124 DOM
2. 2026-06-17
   days on market $750,000 Active 123 DOM
3. 2026-06-16
   days on market $750,000 Active 122 DOM
4. 2026-06-15
   days on market $750,000 Active 121 DOM
5. 2026-06-13
   days on market $750,000 Active 119 DOM
6. 2026-06-09
   days on market $750,000 Active 115 DOM
7. 2026-06-08
   days on market $750,000 Active 114 DOM
8. 2026-06-07
   days on market $750,000 Active 113 DOM
9. 2026-06-04
   days on market $750,000 Active 110 DOM
10. 2026-06-03
    days on market $750,000 Active 109 DOM
11. 2026-06-01
    days on market $750,000 Active 107 DOM
12. 2026-05-31
    days on market $750,000 Active 106 DOM
13. 2026-02-14
    listed $750,000 Active
14. 1997-07-30
    soldstatus $46,000
15. 1997-01-23
    soldstatus $34,000

ⓘ 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: $6,855 · $571/mo
• Projected year-2 tax: $6,855 · $571/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $109,956
• − Mortgage interest: −$42,012
• − Property taxes: −$6,855
• − Insurance: −$3,750
• − Repairs & maintenance: −$8,796
• − Management: −$8,796
• − Depreciation: −$21,818
• Taxable income: $17,929
• Est. tax owed @ 24.0%: −$4,303
• After-tax cash flow: $24,761/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): 31,729
• Household income: $74,707
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1076.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 9% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 9% Other Asian/Pacific 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: ▼ -439.69%
• Current HPI: 478.8317
• Rent YoY: ▲ 0.67%
• 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

+2105.9% since first listed

3 events — show timeline

• 2026-02-14 Listed $750,000 Stellar MLS as Distributed by MLS Grid
• 1997-07-30 Sold (Public Records) $46,000 Public Records
• 1997-01-23 Sold (Public Records) $34,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $6,855 · +15.2% YoY. Source: county tax records.