5880 38th Ave N #308 · St. Petersburg, FL 33710

$77,900

1 bd · 1.0 ba · 854 sqft · Condo public records · 30 Days on market

Built 1971 $600/mo HOA · 36% of rent

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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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this excellent opportunity to own in a well-maintained community. Located in the heart of St Petersburg, this 55+ building is financially sound and cared for. The unit is a large 854 sq ft, 1 bedroom 1 bathroom with Florida room overlooking the courtyard. Lots of light from both the front East facing windows as well as the rear with Western exposure. The living area is spacious and accommodate a variety of furniture configurations. This 3rd floor condo is steps from the elevator and laundry room. It comes with a storage closet as well near the laundry. There is also an assigned space for your vehicle. HOA covers Water, Sewer, Trash, Lawn Maintenance, Cable TV and High-Speed

Key facts

• Laundry room
• Florida room
• Storage closet

Tags

• FLORIDA ROOM
• OVERLOOKING THE COURTYARD
• STORAGE CLOSET
• STEPS FROM THE ELEVATOR
• LAUNDRY ROOM

Property features AI

Finance

• Other: Furnished status negotiable
• Financial info: Total monthly fees $600 (total annual fees $7,200) — includes HOA amount; Lease restrictions apply; Association approval required
• HOA & community: HOA required; monthly association fee of $545; Association covers cable TV, internet, maintenance (structure and grounds), management, sewer, trash, water, escrow reserves; Association amenities include laundry and storage; Buyer approval required; Community mailbox; Special community restrictions; Senior community; Cats and dogs allowed (pets OK)

Exterior

• Parking: 1 carport space
• Utilities: Cable connected; Electricity connected; Water connected; Public sewer; Broadband/High-speed internet available
• Home design: Residential condominium; 3 total stories; unit located on 3rd floor; One-level living; East-facing
• Construction: Block construction; Built-up roof; Block foundation
• Exterior features: Rain gutters; Sidewalk; Storage

Interior

• Kitchen: Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Living room/Dining room combo; Thermostat; Elevator in building
• Laundry & utility: Common area laundry room; Laundry facilities included in association amenities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $78k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• 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 soft (-0.5%/yr); 313 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k 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 30 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $78k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% 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 $76,731 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 2.15% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 3.9

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-1,891
• Equity at exit: $11,615

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $508
• Equity at exit: $6,735

Cash invested: $21,812 (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 33710

• Rents YoY: -0.5%
• Active inventory: 313
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$409
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$32
• HOA: −$600
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $240

Break-even live

Break-even rent $1,374

Max offer price $77,900

Occupancy floor 81%

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: $19,475
• Closing costs: $2,337
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5870 38th Ave N #40 Saint Petersburg, FL	2.0	1.0	985	$1,800	$1.83	16d	1	0.02mi
4000 58th St N Kenneth City, FL	2.0	1.0	900	$1,649	$1.83	14d	4	0.23mi
6190 36th Ave N Saint Petersburg, FL	2.0	1.0	1008	$2,500	$2.48	4d	1	0.40mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,350	$1.91	3d	6	0.69mi
2819 53rd St N Saint Petersburg, FL	2.0	1.0	900	$1,995	$2.22	4d	1	0.76mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	0.88mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	14d	1	0.93mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,100	$1.38	3d	4	0.98mi
5900 22nd Ave N Unit 14 St. Petersburg, FL	2.0	1.0	1000	$1,650	$1.65	14d	1	1.01mi
5860 22nd Ave N Apt 5 St. Petersburg, FL	2.0	1.0	800	$1,300	$1.62	24d	1	1.01mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,300	$1.30	2d	2	1.02mi
5701 21st Ave N Saint Petersburg, FL	1.0–2.0	1.0	775	$1,449	$1.87	7d	3	1.02mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	890	$1,825	$2.05	24d	1	1.03mi
6080 22nd Ave N #3 Saint Petersburg, FL	2.0	2.0	900	$1,825	$2.03	4d	1	1.03mi
6080 22nd Ave N #5 Saint Petersburg, FL	2.0	2.0	890	$1,725	$1.94	24d	1	1.03mi
5457 59th St N Unit NA St. Petersburg, FL	2.0	1.0	800	$2,400	$3.00	24d	1	1.08mi
5540 59th St N Saint Petersburg, FL	2.0	1.0	824	$2,100	$2.55	4d	1	1.15mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,300	$1.46	1d	10	1.22mi
5870 56th Ave N Kenneth City, FL	2.0	1.0–2.0	850	$1,595	$1.88	3d	7	1.23mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	1.28mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	1.29mi
3910 44th St N Unit C9 Saint Petersburg, FL	2.0	1.0	965	$1,395	$1.45	13d	1	1.29mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	1.34mi
6215 58th Ave N Saint Petersburg, FL	2.0	1.0	850	$1,900	$2.24	4d	1	1.37mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,225	$1.48	7d	1	1.38mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	1.39mi
3000 70th Ln N Saint Petersburg, FL	2.0	1.0	875	$1,600	$1.83	21d	1	1.43mi
4719 21st Ave N Saint Petersburg, FL	2.0	1.0	672	$1,800	$2.68	24d	1	1.43mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	1.44mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: watersewertrashcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-07
   status $77,900 Pending 30 DOM
2. 2026-06-04
   days on market $77,900 Active 30 DOM
3. 2026-06-03
   pricedays on market $77,900 Active 29 DOM
4. 2026-06-01
   days on market $85,000 Active 27 DOM
5. 2026-05-31
   days on market $85,000 Active 26 DOM
6. 2026-05-05
   listed $87,900 Active
7. 2003-11-17
   soldstatus $36,900
8. 1998-10-16
   soldstatus $23,000
9. 1994-03-02
   soldstatus $15,500

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $647 · $54/mo
• Expected delta: +$116/yr (+$10/mo · 21.9%)

ⓘ 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 (shaded) · 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: $20,130
• − Mortgage interest: −$4,364
• − Property taxes: −$531
• − Insurance: −$390
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$7,200
• − Depreciation: −$2,266
• Taxable income: $2,159
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $2,362/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): 33,796
• Household income: $78,611
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 542.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -547.31%
• Current HPI: 405.0731
• Rent YoY: ▼ -0.48%
• 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

+467.1% since first listed

4 events — show timeline

• 2026-05-05 Listed $87,900 Stellar MLS as Distributed by MLS Grid
• 2003-11-17 Sold (Public Records) $36,900 Public Records
• 1998-10-16 Sold (Public Records) $23,000 Public Records
• 1994-03-02 Sold (Public Records) $15,500 Public Records