877 22nd Ave S · St. Petersburg, FL 33705

$99,900

6 bd · 2.0 ba · 1,330 sqft · MultiFamily public records · 56 Days on market

Built 1948 6,064 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor Special in St. Pete! Duplex priced at only $99.9K with ARV $300K+ – this one is a no-brainer for your next project. Property needs full rehab but offers huge upside potential. Two units make this an excellent BRRRR, flip, or rental cash-flow opportunity. Located minutes from downtown St. Pete, major highways, and the beaches. Don’t miss out – deals with this kind of spread are rare!

Key facts

• Two units
• Full rehab
• Duplex

Tags

• DUPLEX
• FULL REHAB
• HUGE UPSIDE POTENTIAL
• TWO UNITS
• CASH-FLOW OPPORTUNITY
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Other: Property listed as residential income with 2 total units; Unit sizes: 2-bedroom unit ~750 heated sq ft; 1-bedroom unit ~580 heated sq ft
• Financial info: Annual net income listed as $0.00; Pro forma values noted: 2-bedroom unit pro forma 1600; 1-bedroom unit pro forma 1200; Calculated list price per sq ft available (data point)
• HOA & community: No HOA or association

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Water source: see remarks; Sewer: Other; Utilities: Other
• Home design: Duplex (residential income property); Total of 1 building; Property condition listed as fixer
• Construction: Frame construction; Other-type roof; Crawlspace and other foundation details; Building area (living area) approximately 1,330 sq ft
• Exterior features: Asphalt road access; Lot dimensions approximately 47 x 125; Lot size about 0.14 acres (≈563 m²)

Interior

• Kitchen: No specific kitchen appliances or features listed
• Bedrooms: Total of 3 bedrooms; Unit mix: one 2-bedroom unit and one 1-bedroom unit
• Flooring: No flooring information provided
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior features listed
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.3% 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 D — 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; 2 comparable units currently listed for rent nearby; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $4,303/mo this rent would consume 71% 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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $96,903 (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. 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 4.31% ✓
• Cap rate: 37.27%
• Cash-on-cash: 110.63%
• DSCR: 5.92
• GRM: 1.9

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: —
• Equity multiple: 5.70×
• Total profit: $131,404
• Equity at exit: $14,895

10-year hold

• IRR: —
• Equity multiple: 10.74×
• Total profit: $272,492
• Equity at exit: $8,638

Cash invested: $27,972 (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: 3.9×

Monthly cashflow live

• Estimated rent: $4,303 high
• Mortgage (P&I): −$524
• Tax from tax record: −$255 /mo · $3,060/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$904
• Net cashflow: $2,512

Break-even live

Break-even rent $1,123

Max offer price $99,900

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,302
Total (2 units)			$4,303

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 21st St S Saint Petersburg, FL	5.0	3.0	1500	$3,460	$2.31	4d	1	0.91mi
1735 25th St S Saint Petersburg, FL	5.0	2.0	1453	$3,250	$2.24	24d	1	1.33mi

Listing history 13 events

1. 2026-06-18
   days on market $99,900 Active 56 DOM
2. 2026-06-17
   days on market $99,900 Active 55 DOM
3. 2026-06-16
   days on market $99,900 Active 54 DOM
4. 2026-06-15
   days on market $99,900 Active 53 DOM
5. 2026-06-13
   days on market $99,900 Active 51 DOM
6. 2026-06-09
   days on market $99,900 Active 47 DOM
7. 2026-06-08
   days on market $99,900 Active 46 DOM
8. 2026-06-07
   days on market $99,900 Active 45 DOM
9. 2026-06-04
   days on market $99,900 Active 42 DOM
10. 2026-06-03
    days on market $99,900 Active 41 DOM
11. 2026-06-01
    days on market $99,900 Active 39 DOM
12. 2026-05-31
    days on market $99,900 Active 38 DOM
13. 2026-04-23
    listed $99,900 Active

ⓘ 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: $3,060 · $255/mo
• Projected year-2 tax: $3,060 · $255/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 8/10 Severe FEMA zone X (shaded) · 97% 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: $51,636
• − Mortgage interest: −$5,596
• − Property taxes: −$3,060
• − Insurance: −$1,297
• − Repairs & maintenance: −$4,131
• − Management: −$4,131
• − Depreciation: −$2,906
• Taxable income: $30,515
• Est. tax owed @ 24.0%: −$7,324
• After-tax cash flow: $22,825/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

1 event — show timeline

• 2026-04-23 Listed $99,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+21.8%/yr

Latest (2025): $3,060 · +11.1% YoY. Source: county tax records.