4774 Lake Blvd Unit 9B · Pinellas Park, FL 33762

$79,900

2 bd · 1.0 ba · 805 sqft · Condo · 79 Days on market

Built 1976 $641/mo HOA · 35% 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 +27.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

A well-designed condo for active adults (55+ plus)in St. Petersburg offers the perfect blend of comfort, convenience, and lifestyle, featuring easy access to a community pool and a layout that embraces indoor-outdoor living. One floor living with sliding glass doors that floor seamlessly into a Florida room. Enjoy the community pool, lots of greenspace, and close proximity to shopping, dining, and the Gulf beaches.

Key facts

• Greenspace
• Florida room
• $641 HOA

Tags

• INDOOR-OUTDOOR LIVING
• FLORIDA ROOM
• GREENSPACE
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.0% in Pinellas Park — 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 78/100 on livability (#170 in FL, #2,546 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools 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 soft (-1.1%/yr); 102 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 79 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.26% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 3.7

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-2,856
• Equity at exit: $11,913

10-year hold

• IRR: -1.7%
• Equity multiple: 0.91×
• Total profit: $-1,977
• Equity at exit: $6,908

Cash invested: $22,372 (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 33762

• Rents YoY: -1.1%
• Active inventory: 102
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,808 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$641
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $235

Break-even live

Break-even rent $1,510

Max offer price $79,900

Occupancy floor 82%

Sensitivity live

Price	-10% $290	-5% $263	+0% $235	+5% $207	+10% $180
Rent	-10% $92	-5% $164	+0% $235	+5% $306	+10% $378
Rate	-1.0pp $275	-0.5pp $255	base $235	+0.5pp $214	+1.0pp $193

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9911 Dahlia St #38 Pinellas Park, FL	2.0	1.0	850	$1,300	$1.53	8d	1	0.35mi
9505 49th St N Pinellas Park, FL	1.0–3.0	1.0–2.0	1049	$2,297	$2.19	3d	19	0.50mi
10321 Larchmont Pl N Pinellas Park, FL	2.0	1.0	840	$1,700	$2.02	25d	1	0.58mi
10770 US Highway 19 N #605 Pinellas Park, FL	2.0	2.0	1000	$1,800	$1.80	25d	1	0.63mi
4973 91st Ave Unit 12 (C) Pinellas Park, FL	2.0	2.0	875	$1,475	$1.69	15d	1	0.78mi
4973 91st Ave Unit C Pinellas Park, FL	2.0	2.0	875	$1,475	$1.69	15d	1	0.78mi
4701 88th Ave N Pinellas Park, FL	1.0–2.0	1.0–2.0	855	$1,853	$2.17	11d	20	0.87mi
5501 110th Ave N Pinellas Park, FL	1.0–3.0	1.0–2.0	1001	$1,958	$1.96	2d	12	0.90mi
5641 94th Ter N Pinellas Park, FL	3.0	2.0	1066	$2,200	$2.06	8d	1	0.90mi
8851 US Highway 19 N Pinellas Park, FL	1.0–3.0	1.0–2.0	993	$2,295	$2.31	3d	23	1.04mi
4940 87th Ave Unit C Pinellas Park, FL	2.0	1.0	700	$2,600	$3.71	25d	1	1.06mi
4355 84th Ave N Pinellas Park, FL	1.0	1.0	700	$1,550	$2.21	3d	10	1.19mi
8400 49th St N Pinellas Park, FL	1.0–2.0	1.0–2.0	707	$1,749	$2.47	2d	22	1.19mi
5865 92nd Ave N Pinellas Park, FL	3.0	2.0	1062	$2,400	$2.26	18d	1	1.22mi
6132 100th Cir N Pinellas Park, FL	3.0	1.0	901	$1,995	$2.21	25d	1	1.32mi
8311 56th Way Unit 2 Pinellas Park, FL	1.0	1.0	750	$2,200	$2.93	25d	1	1.48mi

HOA detail condo

• Monthly dues: $641 · $7,692/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 418-char remark
2. 2026-06-18
   listed $79,900 Active 79 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,694
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − HOA: −$7,692
• − Depreciation: −$2,324
• Taxable income: $2,133
• Est. tax owed @ 24.0%: −$512
• After-tax cash flow: $2,308/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 — Pinellas Park

• Score: 78/100
• State rank: #170
• US rank: #2546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pinellas Park, FL
• County: Pinellas County · 939,478 people
• City population: 50,533
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 5,063
• Household income: $87,461
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 105.0

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 (76%)
• Race & ethnicity: White 76% Two or more races 11% Hispanic / Latino 10% Asian 5% Black 5%
• Hispanic origin (detail): Puerto Rican 1% Cuban 2%
• Common ancestry: Italian 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica, South Korea
• Languages at home: 83% English-only · Other Indo-European 6% Spanish 6% French/Haitian/Cajun 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: ▼ -212.83%
• Current HPI: 264.2599
• Rent YoY: ▼ -1.11%
• 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