1900 59th Ave N · Lealman, FL 33714

$105,000

1 bd · 1.0 ba · 620 sqft · Other · 40 Days on market

Built 1978 Average 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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Convenient Location, Great Floorplan, Affordable Living! This spacious condo is located near shopping and within easy driving distance to the beach and downtown St. Petersburg. The roomy floorplan includes one bathroom and a Florida room. The living room looks out at the lake and the parking spot is steps out the back door. The updated windows help with electric bills and hurricanes. The low monthly maintenance includes gas for your stove and the heated pool and shuffleboard courts, and much more!

Key facts

• Shuffleboard courts
• Updated windows
• Florida room

Tags

• SPACIOUS CONDO
• FLORIDA ROOM
• LAKE VIEW
• UPDATED WINDOWS
• HEATED POOL
• SHUFFLEBOARD COURTS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $105k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.7% in 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 (#83 in FL, #1,394 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools F, employment 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 soft (-2.1%/yr); 165 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 36% of the median local income ($47k/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 40 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.94%
• DSCR: 1.71
• GRM: 6.2

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $3,741
• Equity at exit: $15,656

10-year hold

• IRR: 9.9%
• Equity multiple: 1.66×
• Total profit: $19,372
• 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 33714

• Home prices YoY: -30.9%
• Rents YoY: -2.1%
• Active inventory: 165
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $391

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 67%

Sensitivity live

Price	-10% $463	-5% $427	+0% $391	+5% $354	+10% $318
Rent	-10% $279	-5% $335	+0% $391	+5% $446	+10% $502
Rate	-1.0pp $443	-0.5pp $417	base $391	+0.5pp $363	+1.0pp $336

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 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 18th St N St Petersburg, FL	1.0–2.0	1.0–2.0	727	$1,300	$1.79	25d	2	0.01mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	5d	1	0.92mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	25d	1	0.99mi
3109 54th Ave N Saint Petersburg, FL	1.0	1.0	400	$1,025	$2.56	23d	1	1.08mi
3109 54th Ave N Unit 1/2 St. Petersburg, FL	1.0	1.0	400	$1,025	$2.56	19d	1	1.08mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	25d	1	1.15mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	4d	1	1.15mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	25d	1	1.23mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	9d	2	1.23mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$2,375	$2.46	3d	13	1.35mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	18d	1	1.37mi
2807 41st Ave N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,600	$3.56	25d	1	1.38mi
1001 77th Ave N #308 Saint Petersburg, FL	1.0	1.0	650	$1,325	$2.04	5d	1	1.39mi
363 48th Ave N Saint Petersburg, FL	1.0	1.0	750	$1,900	$2.53	25d	1	1.47mi
3700 Haines Rd N St Petersburg, FL	1.0–2.0	1.0	675	$1,700	$2.52	16d	2	1.47mi
500 75th Ave N Saint Petersburg, FL	1.0	1.0	602	$1,195	$1.99	25d	1	1.48mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	15d	1	1.49mi
1051 79th Ave N #107 Saint Petersburg, FL	1.0	1.5	720	$1,495	$2.08	19d	1	1.49mi
600 76th Ave N Saint Petersburg, FL	1.0–2.0	1.0–1.5	775	$1,449	$1.87	5d	10	1.50mi

Listing history 14 events

1. 2026-06-22
   days on market $105,000 Active 40 DOM
2. 2026-06-18
   days on market $105,000 Active 37 DOM
3. 2026-06-17
   pricedays on market $105,000 Active 36 DOM
4. 2026-06-16
   days on market $115,000 Active 35 DOM
5. 2026-06-15
   days on market $115,000 Active 34 DOM
6. 2026-06-13
   days on market $115,000 Active 32 DOM
7. 2026-06-09
   days on market $115,000 Active 28 DOM
8. 2026-06-08
   days on market $115,000 Active 27 DOM
9. 2026-06-07
   days on market $115,000 Active 26 DOM
10. 2026-06-04
    days on market $115,000 Active 23 DOM
11. 2026-06-03
    days on market $115,000 Active 22 DOM
12. 2026-06-01
    days on market $115,000 Active 20 DOM
13. 2026-05-31
    days on market $115,000 Active 19 DOM
14. 2026-05-12
    listed $115,000 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 5/10 Major FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $16,955
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$3,055
• Taxable income: $3,206
• Est. tax owed @ 24.0%: −$769
• After-tax cash flow: $3,917/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

Average 55/100 Cosmetic rehab

This spacious condo is in good condition with minimal repairs needed. It offers a good floorplan and is located in a convenient location. Upgrades to the exterior, interior, and kitchen can significantly increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Updating the kitchen appliances — Modern appliances can make the kitchen more appealing and functional.
• Both Upgrading the flooring — New flooring can improve the overall look and feel of the home.
• Both Reorganizing the interior layout — A fresh layout can make the home more functional and appealing to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Updating the kitchen appliances — Modern appliances can make the kitchen more appealing and functional. ↑
• Both Upgrading the flooring — New flooring can improve the overall look and feel of the home. ↑
• Both Reorganizing the interior layout — A fresh layout can make the home more functional and appealing to potential buyers/tenants. ↑

ⓘ 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 — Lealman

• Score: 81/100
• State rank: #83
• US rank: #1394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 20,103
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,227
• Household income: $47,487
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 915.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Hispanic / Latino 13% Two or more races 12% Black 10% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 6% Dominican 1%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 11% Russian/Polish/Slavic 4% Vietnamese 3%

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: ▼ -179.12%
• Current HPI: 399.6253
• Rent YoY: ▼ -2.08%
• 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

• 2026-05-12 Listed $115,000 FSBO.com