7803 46th Ave N #43 · West Lealman, FL 33709

$90,000

2 bd · 1.0 ba · 636 sqft · Manufactured public records · 105 Days on market

Built 1967 $195/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Melody Gardens is a resident-owned cooperative community, meaning when you purchase the home you also acquire a share of ownership in the park itself. This ownership structure helps keep the monthly maintenance fee extremely low—currently just $195—which includes water, sewer, trash, and lawn care. Because the residents collectively own the land and manage the community, it creates a well-maintained neighborhood with a strong sense of pride and long-term stability. Welcome to this charming 2-bedroom, 1.5-bath mobile home offers comfortable, affordable Florida living with a functional layout and plenty of natural light. This home comes furnished with everything you see inside!

Key facts

• Shuffleboard courts
• Clubhouse
• Community pool

Tags

• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• SPACIOUS LIVING AREA
• COMMUNITY POOL
• CLUBHOUSE
• SHUFFLEBOARD COURTS

Property features AI

Finance

• Other: Unfurnished; Directions: GPS
• Financial info: Total annual fees $2,340; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $195); HOA includes pool, spa/hot tub, laundry, shuffleboard court, common area taxes, escrow reserves, grounds maintenance, management, private road maintenance, recreational facilities, sewer, trash and water; Association approval required; Community features: clubhouse, deed restrictions, golf carts allowed, reclaimed water irrigation, pool, special community restrictions; Senior community; Pets not allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Electricity connected; Water connected; Public sewer; No water source listed
• Home design: Residential mobile home (single wide); One story; Faces east; Entry level: 1
• Construction: Metal siding; Membrane and metal roof; Crawlspace foundation with pillar/post/pier
• Exterior features: Enclosed porch; Porch; Screened porch; Private mailbox; Asphalt road access

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Kitchen/family room combo; Open floorplan
• Laundry & utility: Laundry closet

🏢 Co-op / cooperative unit. The $90,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 1.8% in West 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 (#84 in FL, #1,396 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities 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.
• Market conditions: Rents flat; 309 active listings in the ZIP; 16 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 36% 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 $622 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 + 1.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $19k; list at $90k implies a 374% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 12.91%
• Cash-on-cash: 23.62%
• DSCR: 2.05
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $95,400
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5320 W Pine St N	0.43mi	1/1.0 (-1)	619 (-3%)	10mo	$87,000	$141	62
5245 E Park St N	0.37mi	2/1.0	672 (+6%)	17mo	$105,000	$156	59
4235 72nd Way N #99	0.54mi	2/1.5	588 (-8%)	3mo	$88,000	$150	58
5214 Yellow Pine St N	0.32mi	2/1.0	564 (-11%)	14mo	$104,300	$185	54
4100 72nd Way N #56	0.58mi	1/1.0 (-1)	552 (-13%)	13mo	$59,000	$107	35

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 · 0.99% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.55×
• Total profit: $13,920
• Equity at exit: $13,419

10-year hold

• IRR: 21.2%
• Equity multiple: 2.61×
• Total profit: $40,650
• Equity at exit: $7,782

Cash invested: $25,200 (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: $1,619 high
• Mortgage (P&I): −$472
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$38
• HOA: −$195
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $496

Break-even live

Break-even rent $991

Max offer price $90,000

Occupancy floor 64%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7317 46th Ave N Unit 4 St. Petersburg, FL	1.0	1.0	528	$1,200	$2.27	14d	1	0.40mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	0.51mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.58mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.58mi
5140 70th St N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,200	$2.67	24d	1	0.66mi
5411 70th Ln N Saint Petersburg, FL	2.0	1.0	600	$1,800	$3.00	24d	1	0.76mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,300	$2.08	2d	1	0.78mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,400	$2.24	24d	1	0.78mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	0.80mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	0.84mi
8800 Bay Pines Blvd #320 Saint Petersburg, FL	1.0	1.0	506	$2,200	$4.35	4d	1	1.00mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	1.18mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	1.20mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,595	$1.93	8d	1	1.27mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	15d	1	1.27mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	3d	6	1.38mi

HOA detail

• Monthly dues: $195 · $2,340/yr
• Likely covers: watersewertrashlandscaping

Listing history 19 events

1. 2026-06-18
   days on market $90,000 Active 105 DOM
2. 2026-06-17
   days on market $90,000 Active 104 DOM
3. 2026-06-16
   days on market $90,000 Active 103 DOM
4. 2026-06-15
   days on market $90,000 Active 102 DOM
5. 2026-06-13
   days on market $90,000 Active 100 DOM
6. 2026-06-09
   days on market $90,000 Active 96 DOM
7. 2026-06-08
   days on market $90,000 Active 95 DOM
8. 2026-06-07
   days on market $90,000 Active 94 DOM
9. 2026-06-04
   days on market $90,000 Active 91 DOM
10. 2026-06-03
    days on market $90,000 Active 90 DOM
11. 2026-06-01
    days on market $90,000 Active 88 DOM
12. 2026-05-31
    days on market $90,000 Active 87 DOM
13. 2026-03-05
    listed $90,000 Active
14. 2026-01-06
    historical
15. 2025-07-10
    listed $100,000 Active
16. 2025-07-01
    historical
17. 2025-04-30
    price $100,000
18. 2025-03-08
    listed $110,000 Active
19. 1999-03-01
    soldstatus $19,000

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $939 · $78/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 18 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: $19,424
• − Mortgage interest: −$5,041
• − Property taxes: −$939
• − Insurance: −$450
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$2,340
• − Depreciation: −$2,618
• Taxable income: $4,927
• Est. tax owed @ 24.0%: −$1,183
• After-tax cash flow: $4,769/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 — West Lealman

• Score: 81/100
• State rank: #84
• US rank: #1396

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment D+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 25,371
• 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

+373.7% since first listed

7 events — show timeline

• 2026-03-05 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-10 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-30 Price Changed $100,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-08 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 1999-03-01 Sold (Public Records) $19,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $939 · +4.5% YoY. Source: county tax records.