650 E Harbor Dr S · St. Petersburg, FL 33705

$285,000

4 bd · 2.0 ba · 1,831 sqft · MultiFamily public records · 73 Days on market

Built 1960 4,282 sqft lot Est $386k · 26% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.4/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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

Two unit dwelling, ready for quick sale. Located next to park, easy access to shopping, interstate, family friendly community.

Key facts

• 4,282 sq ft lot
• Built 1960
• Listed 73 days

Property features AI

Finance

• Other: Property used as residential income with 2 units; Unfurnished units
• Financial info: Gross income reported: $36,000; Annual net income reported: $24,783; Pro forma rents listed for unit types: one unit pro forma $1,600; the other unit pro forma $1,400
• HOA & community: No HOA

Exterior

• Parking: No specific parking details provided
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Public utilities
• Home design: Duplex (residential income property); One building with two units; Two levels
• Construction: Block construction; Shingle and other roof materials; Slab foundation; Built area: approximately 1,999 total building area
• Exterior features: Patio; Fenced yard; Storage structure on property; Asphalt road access; Lot dimensions approximately 55 x 79 feet

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms total; Two 2-bedroom units (one 2-bed/1-bath unit and another 2-bed/1-bath unit)
• Flooring: Tile flooring
• Bathrooms: Each unit includes 1 bathroom
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Open floor plan; Window treatments (blinds)
• Laundry & utility: Common area laundry room; Washer and dryer included; Inside utility and storage rooms

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive. Per door: $187/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Recommended offer: $268k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 B — 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 soft (-0.1%/yr); 308 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,547/mo this rent would consume 58% of the median local household income ($73k/yr) (locally 1386% 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 $2k of loan paydown is wiped out by about $9k 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 73 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $285k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $267,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.24% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $386,341
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
719 20th Ave S	0.31mi	4/4.0	1,854 (+1%)	18mo	$291,500	$157	60
801 18th Ave S	0.46mi	4/2.0	1,680 (-8%)	8mo	$355,000	$211	58
875 19th Ave S Unit 1/2	0.44mi	5/3.0 (+1)	2,046 (+12%)	2mo	$335,000	$164	49
877 36th Ave S	0.73mi	3/2.0 (-1)	1,960 (+7%)	22mo	$575,000	$293	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-32,408
• Equity at exit: $42,494

10-year hold

• IRR: -8.7%
• Equity multiple: 0.54×
• Total profit: $-36,340
• Equity at exit: $24,642

Cash invested: $79,800 (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 33705

• Rents YoY: -0.1%
• Active inventory: 308
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,547 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$388 /mo · $4,657/yr
• Insurance: −$119
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$745
• Net cashflow: $374

Break-even live

Break-even rent $3,073

Max offer price $285,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,546
Total (2 units)			$3,547

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2329 7th St S Saint Petersburg, FL	3.0	3.0	1894	$2,150	$1.14	17d	1	0.09mi
773 W Harbor Dr S Saint Petersburg, FL	4.0	2.0	1495	$2,800	$1.87	24d	1	0.13mi
2825 6th St S Saint Petersburg, FL	4.0	2.0	1235	$2,590	$2.10	4d	1	0.24mi
2720 Edwards Ave S Saint Petersburg, FL	4.0	2.0	1298	$2,300	$1.77	4d	1	0.28mi
825 32nd Ave S Saint Petersburg, FL	1.0–3.0	1.0–2.5	1518	$3,840	$2.53	2d	17	0.39mi
2950 Pallanza Dr S Saint Petersburg, FL	3.0	3.0	2015	$3,250	$1.61	4d	1	0.49mi
2003 10th St S Saint Petersburg, FL	4.0	2.0	1620	$2,349	$1.45	7d	1	0.53mi
675 16th Ave S Unit 1 St. Petersburg, FL	4.0	2.0	1518	$2,750	$1.81	10d	1	0.63mi
935 17th Ave S Saint Petersburg, FL	4.0	2.0	2448	$3,195	$1.31	4d	1	0.63mi
720 Newton Ave S Saint Petersburg, FL	4.0	2.0	1320	$2,500	$1.89	7d	1	0.70mi
116 16th Ave SE Saint Petersburg, FL	3.0	2.0	1468	$3,200	$2.18	24d	1	0.79mi
750 38th Ave S Saint Petersburg, FL	3.0	1.0	1475	$1,900	$1.29	3d	1	0.85mi
1535 13th St S Saint Petersburg, FL	4.0	2.0	1716	$2,850	$1.66	24d	1	0.87mi
1137 Highland St S Saint Petersburg, FL	3.0	2.0	1400	$2,600	$1.86	2d	1	0.90mi
3876 Island Way Saint Petersburg, FL	3.0	2.5	1345	$2,500	$1.86	17d	1	0.93mi
160 Coquina Bay Dr Saint Petersburg, FL	3.0	2.5	1345	$2,400	$1.78	24d	1	0.94mi
3353 Coquina Key Dr SE Saint Petersburg, FL	3.0	2.0	2240	$4,800	$2.14	4d	1	0.95mi
1218 13th Ave S Saint Petersburg, FL	3.0	2.0	1356	$2,594	$1.91	4d	1	0.99mi
1465 15th St S Saint Petersburg, FL	3.0	1.5	1405	$2,400	$1.71	4d	1	0.99mi
3560 Beach Dr SE Saint Petersburg, FL	3.0	2.0	1388	$3,500	$2.52	4d	1	1.04mi
2524 19th St S Saint Petersburg, FL	4.0	2.0	1230	$2,495	$2.03	24d	1	1.04mi
1317 14th St S St Petersburg, FL	4.0	2.0	1236	$2,150	$1.74	24d	1	1.06mi
1349 15th St S Saint Petersburg, FL	3.0	2.0	1702	$2,700	$1.59	24d	1	1.06mi
1911 22nd Ave S St Petersburg, FL	4.0	2.0	1424	$3,000	$2.11	2d	1	1.08mi
1900 19th St S Saint Petersburg, FL	4.0	1.0	1572	$2,500	$1.59	4d	1	1.08mi
1900 19th St S Saint Petersburg, FL	4.0	1.0	2148	$2,500	$1.16	24d	1	1.08mi
2435 20th St S Unit 1 St. Petersburg, FL	4.0	2.0	1230	$2,650	$2.15	24d	1	1.13mi
2033 20th St S Saint Petersburg, FL	3.0	1.0	1752	$1,775	$1.01	4d	1	1.15mi
3601 Coquina Key Dr SE St Petersburg, FL	3.0	2.5	1680	$7,800	$4.64	24d	1	1.15mi
2310 21st St S Saint Petersburg, FL	5.0	3.0	1500	$3,460	$2.31	4d	1	1.15mi
1400 21st St S Saint Petersburg, FL	4.0	2.0	1487	$2,970	$2.00	7d	1	1.34mi
2244 21st Ave S Saint Petersburg, FL	3.0	1.0	1229	$2,250	$1.83	4d	1	1.36mi
218 Lewis Blvd SE Saint Petersburg, FL	3.0	2.0	1300	$2,300	$1.77	4d	1	1.39mi

Listing history 23 events

1. 2026-06-18
   days on market $285,000 Active 73 DOM
2. 2026-06-17
   days on market $285,000 Active 72 DOM
3. 2026-06-16
   days on market $285,000 Active 71 DOM
4. 2026-06-15
   days on market $285,000 Active 70 DOM
5. 2026-06-13
   days on market $285,000 Active 68 DOM
6. 2026-06-09
   days on market $285,000 Active 64 DOM
7. 2026-06-08
   days on market $285,000 Active 63 DOM
8. 2026-06-07
   days on market $285,000 Active 62 DOM
9. 2026-06-04
   days on market $285,000 Active 59 DOM
10. 2026-06-03
    pricedays on market $285,000 Active 58 DOM
11. 2026-06-01
    days on market $299,900 Active 56 DOM
12. 2026-05-31
    days on market $299,900 Active 55 DOM
13. 2026-04-30
    price $299,900
14. 2026-04-06
    listed $325,000 Active
15. 2026-03-26
    historical $1,500
16. 2026-03-20
    price $1,500
17. 2026-02-06
    listed $1,600
18. 2017-03-24
    soldstatus $95,000
19. 2017-03-23
    soldstatus $95,000 Sold 126-char remark

    Show marketing remark (126 chars)

    Two unit dwelling, ready for quick sale. Located next to park, easy access to shopping, interstate, family friendly community.

20. 2017-01-12
    status Pending 126-char remark

    Show marketing remark (126 chars)

    Two unit dwelling, ready for quick sale. Located next to park, easy access to shopping, interstate, family friendly community.

21. 2016-12-29
    listed $109,500 Active 126-char remark

    Show marketing remark (126 chars)

    Two unit dwelling, ready for quick sale. Located next to park, easy access to shopping, interstate, family friendly community.

22. 1999-08-04
    soldstatus $38,000
23. 1985-10-01
    soldstatus $39,000

ⓘ 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: $4,657 · $388/mo
• Projected year-2 tax: $4,657 · $388/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,564
• − Mortgage interest: −$15,964
• − Property taxes: −$4,657
• − Insurance: −$6,544
• − Repairs & maintenance: −$3,405
• − Management: −$3,405
• − Depreciation: −$8,291
• Taxable income: $298
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $4,419/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): 27,939
• Household income: $73,027
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1386.0

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 0.64)
• Race & ethnicity: Black 44% White 41% Two or more races 10% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% 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: ▼ -540.28%
• Current HPI: 388.3086
• Rent YoY: ▼ -0.13%
• 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

+669.0% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $299,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Listed $325,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Rental Removed $1,500 RentEngineListings
• 2026-03-20 Price Changed $1,500 RentEngineListings
• 2026-02-06 Listed for Rent $1,600 RentEngineListings
• 2017-03-24 Sold (Public Records) $95,000 Public Records
• 2017-03-23 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2017-01-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-12-29 Listed $109,500 Stellar MLS as Distributed by MLS Grid
• 1999-08-04 Sold (Public Records) $38,000 Public Records
• 1985-10-01 Sold (Public Records) $39,000 Public Records

Property tax history

+16.3%/yr

Latest (2025): $4,657 · +12.0% YoY. Source: county tax records.