6400 46th Ave N #214 · Kenneth City, FL 33709

$85,000

1 bd · 1.0 ba · 870 sqft · Condo public records · 55 Days on market

Built 1978 $558/mo HOA · 34% of rent

---

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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 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 MLS

Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

Key facts

• Open concept
• New hvac
• New flooring

Tags

• NEW WINDOWS
• NEW HVAC
• NEW FLOORING
• EXTRA SITTING ROOM
• OPEN CONCEPT
• NATURAL LIGHT

Property features AI

Finance

• Other: Furnished; Directions: Property located in Willow Lake Building 5 off 46th Ave N in Kenneth City
• Financial info: Total annual association fees approximately $6,703.08; Lease restrictions apply
• HOA & community: Monthly HOA fee of $558.59; HOA covers cable TV, internet, pool, maintenance (structure), sewer, trash and water; Association amenities include pool, laundry, recreation facilities and cable TV; Association approval required; Pets allowed with restrictions (cats and dogs OK; breed restrictions; max pet weight 35 lbs); Senior community

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available and connected; Water connected; Sewer available; Trash and internet included in association (see HOA)
• Home design: Residential condominium; One level; Faces north
• Construction: Concrete construction; Built-Up, Membrane, and Shingle roofing; Slab foundation; Built 3-story community (unit on one level)
• Exterior features: Exterior lighting; On waterfront (pond) with water view

Interior

• Kitchen: Refrigerator; Other appliance(s)
• Bedrooms: 1 bedroom
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Thermostat; Lighting (interior/exterior)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.7% in Kenneth City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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.
• Zoned schools: Westgate Elementary School (math 59% / reading 50%, grade C, #892 of 2,144 statewide, top 44%, 541 students, 70% FRL); Dixie M. Hollins High School (math 30% / reading 40%, grade F, #379 of 667 statewide, top 58%, 1,822 students, 56% FRL) — zoned schools average 63% FRL vs 48% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 309 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 37% 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 $588 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 55 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $85k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.94% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 4.3

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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-7,531
• Equity at exit: $12,674

10-year hold

• IRR: -4.6%
• Equity multiple: 0.74×
• Total profit: $-6,160
• Equity at exit: $7,349

Cash invested: $23,800 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$446
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$35
• HOA: −$558
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $143

Break-even live

Break-even rent $1,470

Max offer price $85,000

Occupancy floor 86%

Sensitivity live

Price	-10% $192	-5% $168	+0% $143	+5% $119	+10% $95
Rent	-10% $13	-5% $78	+0% $143	+5% $209	+10% $274
Rate	-1.0pp $186	-0.5pp $165	base $143	+0.5pp $121	+1.0pp $99

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	0.22mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,350	$1.91	4d	6	0.31mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	0.50mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,300	$1.46	2d	10	0.53mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	0.55mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	15d	1	0.58mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	0.61mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	0.61mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,300	$1.30	3d	2	0.62mi
6190 36th Ave N Saint Petersburg, FL	2.0	1.0	1008	$2,500	$2.48	5d	1	0.65mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	5d	1	0.66mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	5d	1	0.75mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.75mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,100	$1.38	3d	4	0.79mi
4000 58th St N Kenneth City, FL	2.0	1.0	900	$1,649	$1.83	15d	4	0.79mi
5870 38th Ave N #40 Saint Petersburg, FL	2.0	1.0	985	$1,800	$1.83	17d	1	0.80mi
7317 46th Ave N Unit 4 St. Petersburg, FL	1.0	1.0	528	$1,200	$2.27	14d	1	0.90mi
6215 58th Ave N Saint Petersburg, FL	2.0	1.0	850	$1,900	$2.24	5d	1	0.92mi
5457 59th St N Unit NA St. Petersburg, FL	2.0	1.0	800	$2,400	$3.00	24d	1	0.92mi
5411 70th Ln N Saint Petersburg, FL	2.0	1.0	600	$1,800	$3.00	24d	1	0.94mi
5540 59th St N Saint Petersburg, FL	2.0	1.0	824	$2,100	$2.55	5d	1	0.96mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,225	$1.48	8d	1	1.08mi
3855 39th Ave N St Petersburg, FL	2.0	2.5	1100	$1,850	$1.68	22d	1	1.08mi
5870 56th Ave N Kenneth City, FL	2.0	1.0–2.0	850	$1,595	$1.88	4d	7	1.09mi
3000 70th Ln N Saint Petersburg, FL	2.0	1.0	875	$1,600	$1.83	22d	1	1.10mi
7238 55th Ave N Saint Petersburg, FL	2.0	2.0	1085	$1,899	$1.75	18d	1	1.11mi
7249 Parkside Villas Dr N Saint Petersburg, FL	2.0	2.0	956	$1,950	$2.04	24d	1	1.11mi
6366 71st St N Pinellas Park, FL	2.0	2.0	970	$2,200	$2.27	24d	1	1.42mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,400	$2.24	24d	1	1.46mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,300	$2.08	2d	1	1.46mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	900	$1,825	$2.03	5d	1	1.49mi
6080 22nd Ave N #5 Saint Petersburg, FL	2.0	2.0	890	$1,725	$1.94	24d	1	1.49mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	890	$1,825	$2.05	24d	1	1.49mi

HOA detail condo

• Monthly dues: $558 · $6,696/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $85,000 Active 55 DOM
2. 2026-06-17
   days on market $85,000 Active 54 DOM
3. 2026-06-16
   days on market $85,000 Active 53 DOM
4. 2026-06-15
   days on market $85,000 Active 52 DOM
5. 2026-06-13
   days on market $85,000 Active 50 DOM
6. 2026-06-09
   days on market $85,000 Active 46 DOM
7. 2026-06-08
   days on market $85,000 Active 45 DOM
8. 2026-06-07
   days on market $85,000 Active 44 DOM
9. 2026-06-04
   days on market $85,000 Active 41 DOM
10. 2026-06-03
    days on market $85,000 Active 40 DOM
11. 2026-06-01
    days on market $85,000 Active 38 DOM
12. 2026-05-31
    days on market $85,000 Active 37 DOM
13. 2026-05-18
    price $85,000
14. 2026-04-24
    listed $95,000 Active
15. 2016-12-14
    soldstatus $34,900 Sold 144-char remark

    Show marketing remark (144 chars)

    Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

16. 2016-12-02
    status Pending 144-char remark

    Show marketing remark (144 chars)

    Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

17. 2016-10-11
    price $34,900 144-char remark

    Show marketing remark (144 chars)

    Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

18. 2016-10-11
    price $34,000 144-char remark

    Show marketing remark (144 chars)

    Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

19. 2016-09-09
    listed $36,900 Active 144-char remark

    Show marketing remark (144 chars)

    Condo in 55+ community of Willow Lake, around a central lake! This second floor 1 bedroom, 1 bath unit is very roomy with open kitchen floorpan.

20. 2016-05-04
    historical
21. 2016-03-16
    status Active
22. 2016-03-04
    historical Contingent - Inspections
23. 2016-01-26
    status Active
24. 2015-10-29
    historical Contingent - Inspections
25. 2015-10-13
    price $33,350
26. 2015-10-13
    price $32,500
27. 2015-10-12
    listed $34,500 Active
28. 1995-10-24
    soldstatus $25,000

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,815
• − Mortgage interest: −$4,761
• − Property taxes: −$1,462
• − Insurance: −$425
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$6,696
• − Depreciation: −$2,473
• Taxable income: $828
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $1,523/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

+240.0% since first listed

16 events — show timeline

• 2026-05-18 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Listed $95,000 Stellar MLS as Distributed by MLS Grid
• 2016-12-14 Sold (MLS) $34,900 Stellar MLS as Distributed by MLS Grid
• 2016-12-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-10-11 Price Changed $34,900 Stellar MLS as Distributed by MLS Grid
• 2016-10-11 Price Changed $34,000 Stellar MLS as Distributed by MLS Grid
• 2016-09-09 Listed $36,900 Stellar MLS as Distributed by MLS Grid
• 2016-05-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-03-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-03-04 Contingent — Stellar MLS as Distributed by MLS Grid
• 2016-01-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2015-10-29 Contingent — Stellar MLS as Distributed by MLS Grid
• 2015-10-13 Price Changed $32,500 Stellar MLS as Distributed by MLS Grid
• 2015-10-13 Price Changed $33,350 Stellar MLS as Distributed by MLS Grid
• 2015-10-12 Listed $34,500 Stellar MLS as Distributed by MLS Grid
• 1995-10-24 Sold (Public Records) $25,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,462 · +1.4% YoY. Source: county tax records.