1059 5th St N · St. Petersburg, FL 33701

$499,000

6 bd · 3.0 ba · 1,664 sqft · MultiFamily public records · 8 Days on market

Built 1915 1,721 sqft lot

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Why this score? — see what drove the C+ 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Historic Uptown St. Petersburg Duplex. Fresh Exterior paint, 1st and 2nd floor's are neat and clean, & have been updated. The Duplex is Centrally located within the city and simply Minutes from St. Anthony's Hospital, Crescent Lake, I-275 access, many coffee houses, pub's, and more. Along with the eclectic and vibrant St. Petersburg downtown waterfront, St. Petersburg Pier and many restaurants and eateries. .. Please provide a 24 hr. notice to view as a courtesy to our residents.

Key facts

• Extra storage space
• Shared laundry room
• On street parking

Tags

• TRADITIONAL DUPLEX BUILDING
• SHARED LAUNDRY ROOM
• EXTRA STORAGE SPACE
• SHARED FENCED IN YARD
• ON STREET PARKING
• CLOSE TO CRESCENT LAKE

Property features AI

Finance

• Other: Living area reported as 1,820 square feet (building area 1,976 sq ft)
• Financial info: Gross income reported: $49,440; Annual net income reported: $33,156; Lease restrictions applicable; Pro forma rents: $2,320 for the 2-bedroom unit, $1,800 for the 1-bedroom unit
• HOA & community: No HOA association indicated; Pets allowed

Exterior

• Parking: Curb parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential income duplex; One building
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.04-acre lot
• Exterior features: Front porch; Sidewalk

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms total; Unit mix: one 2-bedroom unit (occupied), one 1-bedroom unit (vacancy)
• Flooring: Tile flooring
• Bathrooms: Unit mix: 2 bathrooms in the 2-bedroom unit, 1 bathroom in the 1-bedroom unit
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features; Inside utility
• Laundry & utility: Washer inside (laundry room)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $676/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $499k).
• Cap rate 9.5% 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 C — 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.
• Market conditions: Rents falling (-3.6%/yr); 345 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $6,148/mo this rent would consume 100% of the median local household income ($74k/yr) (locally 2230% 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 $15k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $381k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $499,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 6.8

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-12,665
• Equity at exit: $74,403

10-year hold

• IRR: 3.5%
• Equity multiple: 1.22×
• Total profit: $30,708
• Equity at exit: $43,144

Cash invested: $139,720 (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 33701

• Rents YoY: -3.6%
• Active inventory: 345
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $6,148 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$681 /mo · $8,167/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,291
• Net cashflow: $1,352

Break-even live

Break-even rent $4,437

Max offer price $499,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$6,148
Total (2 units)			$6,148

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-13
   statusdays on market $499,000 Pending 8 DOM
2. 2026-06-09
   days on market $499,000 Active 5 DOM
3. 2026-06-08
   days on market $499,000 Active 4 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $499,000 Active 3 DOM

ⓘ 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: $8,167 · $681/mo
• Projected year-2 tax: $8,167 · $681/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 6 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,776
• − Mortgage interest: −$27,952
• − Property taxes: −$8,167
• − Insurance: −$2,495
• − Repairs & maintenance: −$5,902
• − Management: −$5,902
• − Depreciation: −$14,516
• Taxable income: $8,842
• Est. tax owed @ 24.0%: −$2,122
• After-tax cash flow: $14,097/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): 18,823
• Household income: $73,542
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2230.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 10% Black 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -425.52%
• Current HPI: 486.3846
• Rent YoY: ▼ -3.56%
• 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

+2751.4% since first listed

26 events — show timeline

• 2026-06-04 Listed $499,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-11 Price Changed $2,300 RENT.
• 2021-12-02 Sold (Public Records) $381,000 Public Records
• 2021-11-30 Sold (MLS) $381,000 Stellar MLS as Distributed by MLS Grid
• 2021-11-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-11-01 Listed $350,000 Stellar MLS as Distributed by MLS Grid
• 2015-03-11 Sold (Public Records) $141,000 Public Records
• 2015-03-06 Sold (MLS) $141,000 Stellar MLS as Distributed by MLS Grid
• 2015-03-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-02-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-12-24 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2014-12-24 Price Changed $15,000 Stellar MLS as Distributed by MLS Grid
• 2014-12-24 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2014-12-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2014-12-23 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2006-05-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-05-01 Listed $269,000 Stellar MLS as Distributed by MLS Grid
• 2006-04-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-03-09 Listed $289,000 Stellar MLS as Distributed by MLS Grid
• 2005-05-13 Sold (Public Records) $175,000 Public Records
• 2005-05-07 Sold (MLS) $175,000 Stellar MLS as Distributed by MLS Grid
• 2004-12-28 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2004-12-28 Listed $179,900 Stellar MLS as Distributed by MLS Grid
• 2003-12-01 Sold (Public Records) $75,000 Public Records
• 1996-10-03 Sold (Public Records) $46,900 Public Records
• 1990-10-10 Sold (Public Records) $17,500 Public Records

Property tax history

+13.6%/yr

Latest (2025): $8,167 · +2.1% YoY. Source: county tax records.