2753 53rd Ave N · Lealman, FL 33714

$449,000

6 bd · 3.0 ba · 1,255 sqft · MultiFamily public records · 111 Days on market

Built 1950 3,737 sqft lot

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Why this score? — see what drove the D+ 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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

Key facts

• Exterior paint
• Landscaping
• Shaker cabinets

Tags

• MULTI-FAMILY APARTMENT COMPLEX
• NEW ROOF
• EXTERIOR PAINT
• LANDSCAPING
• NEW LUXURY VINYL FLOORING
• SHAKER CABINETS

Property features AI

Finance

• Financial info: Annual net income reported: $33,264.20; Pro forma rents: two 1-bedroom units at $1,600 each, one studio unit at $1,500
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential income property (triplex); One building on the lot; R-4 zoning
• Construction: Frame construction; Other-type roof; Pillar/post/pier foundation; Built on a 50 x 75 lot (approximately 0.09 acres)
• Exterior features: Fenced yard; Sidewalk on property

Interior

• Kitchen: Kitchen included in each unit
• Bedrooms: Total of 2 bedrooms in the property (configured as two 1-bedroom units and one studio unit)
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Electric heating; Ductless heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Open floorplan; Window treatments
• Laundry & utility: No laundry facilities on-site (None listed)

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive. Per door: $146/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $447k (0.5% below list).
• Recommended offer: $409k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 1 comparable units currently listed for rent nearby; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $4,467/mo this rent would consume 113% of the median local household income ($47k/yr) (locally 915% 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 $3k of loan paydown is wiped out by about $13k 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 111 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 23y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $310k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $408,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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 1950 — 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. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 8.4

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: -13.2%
• Equity multiple: 0.54×
• Total profit: $-57,886
• Equity at exit: $66,947

10-year hold

• IRR: -9.7%
• Equity multiple: 0.48×
• Total profit: $-64,825
• Equity at exit: $38,821

Cash invested: $125,720 (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: 24.6×

Monthly cashflow live

• Estimated rent: $4,467 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$549 /mo · $6,590/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$938
• Net cashflow: $438

Break-even live

Break-even rent $3,912

Max offer price $449,000

Occupancy floor 85%

Sensitivity live

Price	-10% $692	-5% $565	+0% $438	+5% $311	+10% $184
Rent	-10% $85	-5% $262	+0% $438	+5% $615	+10% $791
Rate	-1.0pp $664	-0.5pp $552	base $438	+0.5pp $322	+1.0pp $203

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,042
1× unit	1	1	$1,425
Total (3 units)			$4,467

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2612 68th Ave N Saint Petersburg, FL	5.0	2.0	1438	$3,000	$2.09	25d	1	0.89mi

Listing history 45 events

1. 2026-06-18
   days on market $449,000 Active 111 DOM
2. 2026-06-17
   days on market $449,000 Active 110 DOM
3. 2026-06-16
   days on market $449,000 Active 109 DOM
4. 2026-06-15
   days on market $449,000 Active 108 DOM
5. 2026-06-13
   pricedays on market $449,000 Active 106 DOM
6. 2026-06-09
   days on market $475,000 Active 102 DOM
7. 2026-06-08
   days on market $475,000 Active 101 DOM
8. 2026-06-07
   days on market $475,000 Active 100 DOM
9. 2026-06-04
   days on market $475,000 Active 97 DOM
10. 2026-06-03
    days on market $475,000 Active 96 DOM
11. 2026-06-01
    days on market $475,000 Active 94 DOM
12. 2026-05-31
    days on market $475,000 Active 93 DOM
13. 2026-04-30
    price $475,000
14. 2026-02-27
    listed $499,000 Active
15. 2024-08-23
    soldstatus $310,000 Closed 251-char remark

    Show marketing remark (251 chars)

    One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

16. 2024-06-19
    status Pending 251-char remark

    Show marketing remark (251 chars)

    One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

17. 2024-06-12
    price $350,000 251-char remark

    Show marketing remark (251 chars)

    One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

18. 2024-05-01
    price $399,900 251-char remark

    Show marketing remark (251 chars)

    One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

19. 2024-03-29
    listed $424,900 Active 251-char remark

    Show marketing remark (251 chars)

    One or more photo(s) has been virtually staged. Just Reduced! Don't miss this amazing opportunity to own an Income Producing Triplex in Great location! Well maintained. Newer Roof and ACs. Fenced yard. Parking Spaces for each Unit. Turnkey property.

20. 2024-02-29
    historical
21. 2023-03-03
    price $438,000
22. 2023-01-31
    listed $448,000 Active
23. 2021-07-16
    soldstatus $253,750
24. 2021-07-09
    soldstatus $253,750 Closed
25. 2021-06-08
    status Pending
26. 2021-03-16
    listed $265,000 Active
27. 2021-01-22
    historical
28. 2020-12-22
    listed $1,489,000 Active
29. 2016-03-30
    soldstatus $75,000
30. 2016-02-24
    soldstatus $42,500
31. 2014-06-18
    soldstatus $50,000
32. 2014-05-22
    soldstatus $50,000
33. 2011-03-19
    historical
34. 2010-09-29
    listed $70,000
35. 2010-01-08
    listed $99,000
36. 2009-07-08
    listed $119,750
37. 2008-05-20
    listed $155,000
38. 2007-02-23
    listed $165,900
39. 2006-10-20
    listed $165,900
40. 2004-12-21
    soldstatus $112,000
41. 2004-12-10
    soldstatus $112,000
42. 2004-11-13
    historical
43. 2004-09-20
    listed $115,000
44. 2003-12-18
    listed $115,000
45. 2003-04-09
    soldstatus $77,500

ⓘ 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: $6,590 · $549/mo
• Projected year-2 tax: $6,590 · $549/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 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 · 27 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: $53,604
• − Mortgage interest: −$25,151
• − Property taxes: −$6,590
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,288
• − Management: −$4,288
• − Depreciation: −$13,062
• Taxable loss: −$2,020
• Est. tax savings @ 24.0%: +$485
• After-tax cash flow: $5,742/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 — 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

+512.9% since first listed

33 events — show timeline

• 2026-04-30 Price Changed $475,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Listed $499,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-23 Sold (MLS) $310,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-06-12 Price Changed $350,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-01 Price Changed $399,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-29 Listed $424,900 Stellar MLS as Distributed by MLS Grid
• 2024-02-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-03-03 Price Changed $438,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-31 Listed $448,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-16 Sold (Public Records) $253,750 Public Records
• 2021-07-09 Sold (MLS) $253,750 Stellar MLS as Distributed by MLS Grid
• 2021-06-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-03-16 Listed $265,000 Stellar MLS as Distributed by MLS Grid
• 2021-01-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-12-22 Listed $1,489,000 Stellar MLS as Distributed by MLS Grid
• 2016-03-30 Sold (Public Records) $75,000 Public Records
• 2016-02-24 Sold (Public Records) $42,500 Public Records
• 2014-06-18 Sold (Public Records) $50,000 Public Records
• 2014-05-22 Sold (Public Records) $50,000 Public Records
• 2011-03-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-09-29 Listed $70,000 Stellar MLS as Distributed by MLS Grid
• 2010-01-08 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2009-07-08 Listed $119,750 Stellar MLS as Distributed by MLS Grid
• 2008-05-20 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2007-02-23 Listed $165,900 Stellar MLS as Distributed by MLS Grid
• 2006-10-20 Listed $165,900 Stellar MLS as Distributed by MLS Grid
• 2004-12-21 Sold (Public Records) $112,000 Public Records
• 2004-12-10 Sold (MLS) $112,000 Stellar MLS as Distributed by MLS Grid
• 2004-11-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-09-20 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2003-12-18 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2003-04-09 Sold (Public Records) $77,500 Public Records

Property tax history

+16.7%/yr

Latest (2025): $6,590 · +7.6% YoY. Source: county tax records.