5593 40th Ave N #418 · Kenneth City, FL 33709

$100,000

2 bd · 2.0 ba · 875 sqft · Condo public records · 56 Days on market

Built 1963 $489/mo HOA · 27% of rent

---

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 +29.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

You will just love this great community and convenient location. This condo is already furnished and ready for you to move into. It is very well kept and has a newly remodeled master bathroom and newer windows. You can enjoy everything from the calming tranquility of the view from your own screened porch or you can enjoy the recreation building that has a library and billiards or even play shuffleboard. This condo has everything you need including its own washer and dryer. Come and take a look. You won'tbe disapointed.

Key facts

• Florida room
• Lvp flooring
• Tranquil views

Tags

• LVP FLOORING
• FLORIDA ROOM
• TRANQUIL VIEWS
• CLEARVIEW OAKS COMMUNITY

Property features AI

Finance

• Other: Unfurnished
• Financial info: Total annual fees $5,868
• HOA & community: Monthly condo fee of $489 (includes cable TV, insurance, internet, structural and grounds maintenance, sewer, trash, and water); Association amenities include clubhouse and shuffleboard court; Buyer approval required; Senior community; Cats and dogs allowed

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected
• Home design: Condominium; One story; East-facing; Unit on 2nd floor
• Construction: Block construction; Other roof type; Slab foundation; Building 15
• Exterior features: Paved road access

Interior

• Kitchen: Built-in oven; Cooktop
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Florida room
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 6.7% in Kenneth City — 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 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: schools C-, 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.
• Market conditions: Rents flat; 309 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 41% 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 $691 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 56 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $26k; list at $100k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: 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 $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1963 — 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: 1.82% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.13%
• DSCR: 1.67
• GRM: 4.6

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: 2.8%
• Equity multiple: 1.11×
• Total profit: $2,940
• Equity at exit: $14,910

10-year hold

• IRR: 9.7%
• Equity multiple: 1.66×
• Total profit: $18,385
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,820 high
• Mortgage (P&I): −$524
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$42
• HOA: −$489
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $353

Break-even live

Break-even rent $1,373

Max offer price $100,000

Occupancy floor 76%

Sensitivity live

Price	-10% $410	-5% $381	+0% $353	+5% $325	+10% $296
Rent	-10% $209	-5% $281	+0% $353	+5% $425	+10% $497
Rate	-1.0pp $403	-0.5pp $378	base $353	+0.5pp $327	+1.0pp $301

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4000 58th St N Kenneth City, FL	2.0	1.0	900	$1,649	$1.83	15d	4	0.16mi
5870 38th Ave N #40 Saint Petersburg, FL	2.0	1.0	985	$1,800	$1.83	17d	1	0.31mi
6190 36th Ave N Saint Petersburg, FL	2.0	1.0	1008	$2,500	$2.48	5d	1	0.71mi
2819 53rd St N Saint Petersburg, FL	2.0	1.0	900	$1,995	$2.22	5d	1	0.83mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,375	$1.72	4d	4	0.85mi
5457 59th St N Unit NA St. Petersburg, FL	2.0	1.0	800	$2,400	$3.00	25d	1	0.92mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	4d	6	0.93mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,538	$1.54	3d	2	0.96mi
6423 34th Ter N Saint Petersburg, FL	3.0	1.0	900	$2,200	$2.44	5d	1	0.98mi
5540 59th St N Saint Petersburg, FL	2.0	1.0	824	$2,100	$2.55	5d	1	0.99mi
5870 56th Ave N Kenneth City, FL	2.0	1.0–2.0	850	$1,595	$1.88	4d	7	1.04mi
3910 44th St N Unit C9 Saint Petersburg, FL	2.0	1.0	965	$1,395	$1.45	14d	1	1.04mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	25d	1	1.08mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	15d	1	1.21mi
5701 21st Ave N Saint Petersburg, FL	1.0–2.0	1.0	775	$1,899	$2.45	8d	3	1.21mi
5860 22nd Ave N Apt 5 St. Petersburg, FL	2.0	1.0	800	$1,300	$1.62	25d	1	1.23mi
5900 22nd Ave N Saint Petersburg, FL	3.0	1.0	1100	$1,950	$1.77	5d	1	1.23mi
5900 22nd Ave N Unit 14 St. Petersburg, FL	2.0	1.0	1000	$1,650	$1.65	15d	1	1.23mi
5900 22nd Ave N Unit 1 St. Petersburg, FL	3.0	2.0	1100	$1,999	$1.82	18d	1	1.23mi
2176 Winchester Rd N #2 Saint Petersburg, FL	3.0	2.0	1080	$2,250	$2.08	15d	1	1.25mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	1.27mi
4082 38th Ave N Saint Petersburg, FL	2.0	1.0	775	$2,400	$3.10	5d	1	1.27mi
6215 58th Ave N Saint Petersburg, FL	2.0	1.0	850	$1,900	$2.24	5d	1	1.28mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	900	$1,825	$2.03	5d	1	1.30mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	890	$1,825	$2.05	25d	1	1.30mi
6080 22nd Ave N #5 Saint Petersburg, FL	2.0	2.0	890	$1,725	$1.94	25d	1	1.30mi
5541 Lown St N Apt S St. Petersburg, FL	2.0	1.0	850	$1,600	$1.88	8d	1	1.30mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	25d	1	1.31mi
4083 30th Ave N Saint Petersburg, FL	2.0	1.0	924	$1,750	$1.89	18d	1	1.42mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	25d	1	1.43mi
3947 Mohr Ave N Unit 1 St. Petersburg, FL	2.0	1.0	767	$1,450	$1.89	15d	1	1.43mi
2871 67th St N Saint Petersburg, FL	3.0	1.0	1075	$2,500	$2.33	25d	1	1.45mi
4719 21st Ave N Saint Petersburg, FL	2.0	1.0	672	$1,800	$2.68	25d	1	1.45mi
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	25d	1	1.47mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	25d	1	1.48mi

HOA detail condo

• Monthly dues: $489 · $5,868/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $100,000 Active 56 DOM
2. 2026-06-17
   days on market $100,000 Active 55 DOM
3. 2026-06-16
   days on market $100,000 Active 54 DOM
4. 2026-06-15
   days on market $100,000 Active 53 DOM
5. 2026-06-13
   days on market $100,000 Active 51 DOM
6. 2026-06-09
   days on market $100,000 Active 47 DOM
7. 2026-06-08
   days on market $100,000 Active 46 DOM
8. 2026-06-07
   days on market $100,000 Active 45 DOM
9. 2026-06-04
   days on market $100,000 Active 42 DOM
10. 2026-06-03
    days on market $100,000 Active 41 DOM
11. 2026-06-01
    days on market $100,000 Active 39 DOM
12. 2026-05-31
    days on market $100,000 Active 38 DOM
13. 2026-04-23
    listed $100,000 Active
14. 2013-07-12
    soldstatus $26,000
15. 2013-07-10
    soldstatus $26,000 524-char remark

    Show marketing remark (524 chars)

    You will just love this great community and convenient location. This condo is already furnished and ready for you to move into. It is very well kept and has a newly remodeled master bathroom and newer windows. You can enjoy everything from the calming tranquility of the view from your own screened porch or you can enjoy the recreation building that has a library and billiards or even play shuffleboard. This condo has everything you need including its own washer and dryer. Come and take a look. You won'tbe disapointed.

16. 2012-10-28
    listed $29,900 524-char remark

    Show marketing remark (524 chars)

    You will just love this great community and convenient location. This condo is already furnished and ready for you to move into. It is very well kept and has a newly remodeled master bathroom and newer windows. You can enjoy everything from the calming tranquility of the view from your own screened porch or you can enjoy the recreation building that has a library and billiards or even play shuffleboard. This condo has everything you need including its own washer and dryer. Come and take a look. You won'tbe disapointed.

17. 2002-02-15
    soldstatus $32,000

ⓘ 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: $356 · $30/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$474/yr (+$39/mo · 133.0%)

ⓘ 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 · 25 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: $21,840
• − Mortgage interest: −$5,602
• − Property taxes: −$356
• − Insurance: −$500
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − HOA: −$5,868
• − Depreciation: −$2,909
• Taxable income: $3,110
• Est. tax owed @ 24.0%: −$747
• After-tax cash flow: $3,490/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

+212.5% since first listed

5 events — show timeline

• 2026-04-23 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2013-07-12 Sold (Public Records) $26,000 Public Records
• 2013-07-10 Sold (MLS) $26,000 Stellar MLS as Distributed by MLS Grid
• 2012-10-28 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 2002-02-15 Sold (Public Records) $32,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $356 · +6.9% YoY. Source: county tax records.