5665 40th Ave N #407 · Kenneth City, FL 33709

$105,000

2 bd · 1.0 ba · 875 sqft · Condo public records · 244 Days on market

Built 1963 $511/mo HOA · 28% of rent

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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 +25.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Clearview Oaks! Discover this beautifully maintained 2-bedroom, 1-bath, second-floor condo in one of St. Pete’s most charming 55+ communities. This move-in-ready home offers comfort, convenience, and peace of mind — located in Flood Zone X (no flood insurance required) and sitting 20 feet above sea level in Evacuation Zone E. Step inside to a bright, inviting space with laminate flooring throughout — no carpet anywhere! The open living and dining areas flow together seamlessly, perfect for relaxing or entertaining guests. The kitchen is compact yet efficient, featuring plenty of cabinet space and a sliding doors to the screened balcony where washer and dryer ar

Key facts

• Pond view
• Screened balcony
• Community storage

Tags

• 20 FEET ABOVE SEA LEVEL
• SCREENED BALCONY
• OVERSIZED SCREENED-IN PATIO
• POND VIEW
• COMMUNITY STORAGE
• CLUBHOUSE WITH SOCIAL EVENTS

Property features AI

Finance

• Other: Homestead exemption applied
• Financial info: Total monthly fees $511; total annual fees $6,132; Lease restrictions apply
• HOA & community: Monthly condo fee $511 (includes cable TV, internet, insurance, common area taxes, escrow reserves, structure and grounds maintenance, private road, sewer, trash, water); Association name: Kelly Vickers; Community features include clubhouse, community mailbox, street lights, deed restrictions, buyer approval required; Senior community; Pets allowed (maximum weight 25 lbs)

Exterior

• Parking: Unassigned/unnumbered parking (park in an unmarked/unassigned spot)
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Water connected
• Home design: Condominium; Residential property; One story (single level); Faces northwest; Located on 2nd floor
• Construction: Block and stucco construction; Other roof type; Slab foundation; Building/complex includes unit number 5665
• Exterior features: Rear porch (screened); Balcony; Rain gutters; Near public transit; Trees/landscaped

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open concept living/dining (living room/dining room combo); Blinds on windows
• Laundry & utility: Washer and Dryer inside unit; Inside utility/Great Room area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.7% in Kenneth City — 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 83/100 on livability (#47 in FL, #874 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities D.
• 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 41% 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 $726 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 244 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $14k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $105k implies a 425% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 244 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.72% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.58%
• DSCR: 1.47
• GRM: 4.8

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,801
• Equity at exit: $15,656

10-year hold

• IRR: 2.7%
• Equity multiple: 1.17×
• Total profit: $5,016
• Equity at exit: $9,078

Cash invested: $29,400 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$551
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$44
• HOA: −$511
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $259

Break-even live

Break-even rent $1,482

Max offer price $105,000

Occupancy floor 81%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4000 58th St N Kenneth City, FL	2.0	1.0	900	$1,649	$1.83	14d	4	0.10mi
5870 38th Ave N #40 Saint Petersburg, FL	2.0	1.0	985	$1,800	$1.83	16d	1	0.26mi
6190 36th Ave N Saint Petersburg, FL	2.0	1.0	1008	$2,500	$2.48	4d	1	0.66mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,375	$1.72	3d	4	0.83mi
2819 53rd St N Saint Petersburg, FL	2.0	1.0	900	$1,995	$2.22	4d	1	0.85mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	3d	6	0.87mi
5457 59th St N Unit NA St. Petersburg, FL	2.0	1.0	800	$2,400	$3.00	24d	1	0.90mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,538	$1.54	2d	2	0.92mi
6423 34th Ter N Saint Petersburg, FL	3.0	1.0	900	$2,200	$2.44	4d	1	0.92mi
5540 59th St N Saint Petersburg, FL	2.0	1.0	824	$2,100	$2.55	4d	1	0.97mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	1.02mi
5870 56th Ave N Kenneth City, FL	2.0	1.0–2.0	850	$1,595	$1.88	3d	7	1.03mi
3910 44th St N Unit C9 Saint Petersburg, FL	2.0	1.0	965	$1,395	$1.45	14d	1	1.10mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	14d	1	1.15mi
5701 21st Ave N Saint Petersburg, FL	1.0–2.0	1.0	775	$1,899	$2.45	7d	3	1.21mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	1d	10	1.22mi
5860 22nd Ave N Apt 5 St. Petersburg, FL	2.0	1.0	800	$1,300	$1.62	24d	1	1.22mi
5900 22nd Ave N Saint Petersburg, FL	3.0	1.0	1100	$1,950	$1.77	4d	1	1.22mi
5900 22nd Ave N Unit 14 St. Petersburg, FL	2.0	1.0	1000	$1,650	$1.65	14d	1	1.22mi
5900 22nd Ave N Unit 1 St. Petersburg, FL	3.0	2.0	1100	$1,999	$1.82	17d	1	1.22mi
2176 Winchester Rd N #2 Saint Petersburg, FL	3.0	2.0	1080	$2,250	$2.08	14d	1	1.24mi
6215 58th Ave N Saint Petersburg, FL	2.0	1.0	850	$1,900	$2.24	4d	1	1.25mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	1.26mi
6080 22nd Ave N #5 Saint Petersburg, FL	2.0	2.0	890	$1,725	$1.94	24d	1	1.28mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	890	$1,825	$2.05	24d	1	1.28mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	900	$1,825	$2.03	4d	1	1.28mi
4082 38th Ave N Saint Petersburg, FL	2.0	1.0	775	$2,400	$3.10	4d	1	1.33mi
5541 Lown St N Apt S St. Petersburg, FL	2.0	1.0	850	$1,600	$1.88	7d	1	1.35mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	1.37mi
2871 67th St N Saint Petersburg, FL	3.0	1.0	1075	$2,500	$2.33	24d	1	1.39mi
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	24d	1	1.41mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	1.42mi
4083 30th Ave N Saint Petersburg, FL	2.0	1.0	924	$1,750	$1.89	17d	1	1.48mi
4719 21st Ave N Saint Petersburg, FL	2.0	1.0	672	$1,800	$2.68	24d	1	1.48mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	1.49mi
3947 Mohr Ave N Unit 1 St. Petersburg, FL	2.0	1.0	767	$1,450	$1.89	14d	1	1.49mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	1.49mi

HOA detail condo

• Monthly dues: $511 · $6,132/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $105,000 Active 244 DOM
2. 2026-06-17
   days on market $105,000 Active 243 DOM
3. 2026-06-16
   days on market $105,000 Active 242 DOM
4. 2026-06-15
   days on market $105,000 Active 241 DOM
5. 2026-06-13
   days on market $105,000 Active 239 DOM
6. 2026-06-09
   days on market $105,000 Active 235 DOM
7. 2026-06-08
   days on market $105,000 Active 234 DOM
8. 2026-06-07
   days on market $105,000 Active 233 DOM
9. 2026-06-04
   days on market $105,000 Active 230 DOM
10. 2026-06-03
    days on market $105,000 Active 229 DOM
11. 2026-06-01
    days on market $105,000 Active 227 DOM
12. 2026-05-31
    days on market $105,000 Active 226 DOM
13. 2026-04-14
    price $105,000
14. 2025-10-17
    listed $119,000 Active
15. 2017-12-10
    historical
16. 2017-11-02
    status Active
17. 2017-10-08
    status Pending
18. 2017-06-28
    price $59,500
19. 2017-06-13
    listed $63,000 Active
20. 2007-10-03
    listed $86,000
21. 2006-11-27
    listed $106,900
22. 2006-03-17
    listed $124,900
23. 1999-09-17
    soldstatus $20,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$83/yr (+$7/mo · 10.5%)

ⓘ 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 · 25 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: $21,725
• − Mortgage interest: −$5,882
• − Property taxes: −$789
• − Insurance: −$525
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − HOA: −$6,132
• − Depreciation: −$3,055
• Taxable income: $1,867
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $2,661/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 — Kenneth City

• Score: 83/100
• State rank: #47
• US rank: #874

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenneth City, 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

+425.0% since first listed

11 events — show timeline

• 2026-04-14 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-17 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-11-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-10-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-06-28 Price Changed $59,500 Stellar MLS as Distributed by MLS Grid
• 2017-06-13 Listed $63,000 Stellar MLS as Distributed by MLS Grid
• 2007-10-03 Listed $86,000 Stellar MLS as Distributed by MLS Grid
• 2006-11-27 Listed $106,900 Stellar MLS as Distributed by MLS Grid
• 2006-03-17 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 1999-09-17 Sold (Public Records) $20,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $789 · +2.1% YoY. Source: county tax records.