1900 59th Ave N #106 · Lealman, FL 33714

$89,000

2 bd · 2.0 ba · 910 sqft · Condo public records · 37 Days on market

Built 1968 $671/mo HOA · 38% 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 +25.7/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks

Under contract-accepting backup offers. Town Apartments, Oasis Building, 55+. Easy-Access Ground Floor Condo in a 55+ Community. This 2-bed, 2-bath first-floor unit offers a straightforward, low-maintenance lifestyle. With a clean interior and a functional layout, it’s a practical choice for those looking to settle into a community with everything you need within reach. With this Convenient Layout, A true "walk-through" floor plan, it allows you to enter your front door and walk straight through the kitchen to your assigned carport parking at the rear. The additional sunroom is air-conditioned, offering an extra year-round living space. All windows have been updated to hurri

Key facts

• Laminate floors
• Ceramic tiling
• Functional layout

Tags

• EASY ACCESS GROUND FLOOR
• FUNCTIONAL LAYOUT
• AIR CONDITIONED SUNROOM
• HURRICANE RATED GLASS
• LAMINATE FLOORS
• CERAMIC TILING

Property features AI

Finance

• Other: Association name: Associa Gulf Coast/Gloria Cepeda
• Financial info: Total annual condo fees approximately $8,052
• HOA & community: Monthly condo fee of $671 (includes cable, pool, maintenance, management, pest control, security, sewer, trash, water and other common services); Association recreation owned with clubhouse and pool; Shuffleboard court; Golf carts allowed; Sidewalks and private road maintenance; Buyer approval required; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Carport with 1 space
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Internet available; Sewer connected; Water connected
• Home design: Condominium; Residential property; One level (first floor unit); Faces north
• Construction: Block construction; Shingle roof; Slab foundation; Building name: OASIS; Total stories in building: 3
• Exterior features: Awnings; Exterior lighting; Rain gutters; Sidewalks; Near public transit; Mature landscaping; Asphalt road

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Building elevator
• Interior features: Ceiling fans
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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+, 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.
• Zoned schools: John M. Sexton Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 449 students, 71% FRL); Northeast High School (math 35% / reading 47%, grade F, #289 of 667 statewide, top 44%, 1,736 students, 50% FRL).
• Market conditions: Rents soft (-2.1%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 45% of the median local income ($47k/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 $615 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 37 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1968 — 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. 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?
7. 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?
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: 2.00% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 4.2

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: -6.5%
• Equity multiple: 0.77×
• Total profit: $-5,682
• Equity at exit: $13,270

10-year hold

• IRR: -4.8%
• Equity multiple: 0.76×
• Total profit: $-6,052
• Equity at exit: $7,695

Cash invested: $24,920 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$467
• Tax from tax record: −$15 /mo · $183/yr
• Insurance: −$37
• HOA: −$671
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $213

Break-even live

Break-even rent $1,506

Max offer price $89,000

Occupancy floor 83%

Sensitivity live

Price	-10% $263	-5% $238	+0% $213	+5% $86	+10% $55
Rent	-10% $73	-5% $143	+0% $213	+5% $283	+10% $353
Rate	-1.0pp $258	-0.5pp $236	base $213	+0.5pp $190	+1.0pp $166

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 18th St N St Petersburg, FL	1.0–2.0	1.0–2.0	727	$1,400	$1.92	25d	2	0.07mi
5920 18th St N #14 Saint Petersburg, FL	2.0	2.0	950	$1,400	$1.47	25d	1	0.10mi
5850 18th St N #23 Saint Petersburg, FL	2.0	2.0	870	$1,400	$1.61	19d	1	0.10mi
5924 15th Way N Saint Petersburg, FL	3.0	2.0	1104	$3,200	$2.90	5d	1	0.35mi
2275 62nd Ave N #203 St Petersburg, FL	2.0	2.0	940	$1,975	$2.10	25d	1	0.43mi
2734 62nd Ave N Apt 3 St. Petersburg, FL	2.0	1.5	833	$1,895	$2.27	25d	1	0.65mi
1145 54th Ave N Saint Petersburg, FL	2.0	1.0	810	$1,850	$2.28	25d	1	0.67mi
2715 63rd Ter N Unit B St. Petersburg, FL	2.0	2.0	1030	$1,900	$1.84	25d	1	0.67mi
2600 52nd Ave N Unit B St. Petersburg, FL	2.0	2.0	857	$2,275	$2.65	3d	1	0.74mi
2600 52nd Ave N Unit A St. Petersburg, FL	2.0	2.0	1018	$2,225	$2.19	3d	1	0.74mi
7260 17th Way N Saint Petersburg, FL	3.0	1.0	912	$3,650	$4.00	5d	1	0.83mi
4660 24th St N Saint Petersburg, FL	3.0	1.0	600	$2,250	$3.75	25d	1	0.84mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	5d	1	0.94mi
6910 Dr Martin Luther King Jr St N Saint Petersburg, FL	2.0	1.0	780	$1,850	$2.37	25d	1	1.00mi
3114 58th Ave N Saint Petersburg, FL	2.0	1.0	800	$1,950	$2.44	5d	1	1.01mi
3132 56th Ave N Saint Petersburg, FL	3.0	2.0	1063	$2,850	$2.68	25d	1	1.03mi
5200 28th St N Unit 628 St. Petersburg, FL	2.0	1.0	872	$2,200	$2.52	25d	1	1.04mi
5200 28th St N Unit 402 St. Petersburg, FL	2.0	2.0	850	$1,995	$2.35	17d	1	1.04mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	25d	1	1.05mi
5519 Commonwealth Ave N Saint Petersburg, FL	2.0	1.0	852	$2,900	$3.40	5d	1	1.16mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	4d	1	1.21mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	25d	1	1.21mi
4104 1/2 Haines Rd N Unit 1 St. Petersburg, FL	2.0	1.0	1000	$1,850	$1.85	25d	1	1.21mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	8d	2	1.28mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	25d	1	1.28mi
426 Palm Ave N Unit 9 St. Petersburg, FL	2.0	1.0	850	$1,500	$1.76	25d	1	1.29mi
2519 39th Ave N Saint Petersburg, FL	3.0	2.0	1005	$2,750	$2.74	25d	1	1.35mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	17d	1	1.37mi
440 50th Ave N Saint Petersburg, FL	1.0	1.0	825	$2,100	$2.55	25d	1	1.37mi
547 46th Ave N Saint Petersburg, FL	2.0	1.0	837	$2,000	$2.39	8d	1	1.39mi
220 Southeast Blvd N St. Petersburg, FL	2.0	1.0	850	$2,000	$2.35	17d	1	1.39mi
3584 54th Ave N Saint Petersburg, FL	3.0	1.0	1012	$1,950	$1.93	5d	1	1.40mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$3,323	$3.44	3d	13	1.41mi
1001 77th Ave N #308 Saint Petersburg, FL	1.0	1.0	650	$1,325	$2.04	5d	1	1.42mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	15d	1	1.45mi
613 44th Ave N Saint Petersburg, FL	2.0	1.0	1124	$2,250	$2.00	5d	1	1.46mi
3580 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	5d	1	1.47mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	15d	1	1.48mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	13d	1	1.48mi
3600 49th Ave N Saint Petersburg, FL	1.0–2.0	1.0	680	$1,600	$2.35	4d	8	1.48mi

HOA detail condo

• Monthly dues: $671 · $8,052/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-13
   statusdays on market $89,000 Pending 37 DOM
2. 2026-06-09
   days on market $89,000 Active 33 DOM
3. 2026-06-08
   days on market $89,000 Active 32 DOM
4. 2026-06-07
   days on market $89,000 Active 31 DOM
5. 2026-06-04
   days on market $89,000 Active 28 DOM
6. 2026-06-03
   days on market $89,000 Active 27 DOM
7. 2026-06-01
   days on market $89,000 Active 25 DOM
8. 2026-05-31
   days on market $89,000 Active 24 DOM
9. 2026-05-07
   listed $89,000 Active
10. 2004-08-27
    soldstatus $64,500
11. 2003-08-06
    soldstatus $55,500
12. 2002-05-09
    soldstatus $52,500
13. 1999-12-22
    soldstatus $43,000
14. 1996-12-24
    soldstatus $42,500

ⓘ 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: $183 · $15/mo
• Projected year-2 tax: $739 · $62/mo
• Expected delta: +$556/yr (+$46/mo · 303.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $21,312
• − Mortgage interest: −$4,985
• − Property taxes: −$183
• − Insurance: −$445
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − HOA: −$8,052
• − Depreciation: −$2,589
• Taxable income: $1,647
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $2,160/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

+109.4% since first listed

6 events — show timeline

• 2026-05-07 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2004-08-27 Sold (Public Records) $64,500 Public Records
• 2003-08-06 Sold (Public Records) $55,500 Public Records
• 2002-05-09 Sold (Public Records) $52,500 Public Records
• 1999-12-22 Sold (Public Records) $43,000 Public Records
• 1996-12-24 Sold (Public Records) $42,500 Public Records

Property tax history

-9.8%/yr

Latest (2025): $183 · +16.7% YoY. Source: county tax records.