10598 106th Ave · Seminole, FL 33773

$598,000

16 bd · 2.0 ba · 900 sqft · MultiFamily public records · 103 Days on market

Built 1957 0.27 ac lot

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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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.1/10.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Property has two buildings with two units in each building. One building has attached garage for each unit. Units can be rented with or without use of the garages, providing the owner/investor an opportunity for storage or increased rent. All units are tenant occupied.

Key facts

• 11
• Off street parking
• Two attached garages

Tags

• TWO SEPARATE BLOCK BUILDINGS
• 11
• 622 SQ FT LOT
• TWO ATTACHED GARAGES
• SEPARATE ELECTRIC METERS
• OFF STREET PARKING

Property features AI

Finance

• Other: Pets allowed; Property zoned R-4
• Financial info: Gross annual income reported; Annual net income reported; Gross lease terms for existing leases
• HOA & community: No association

Exterior

• Parking: Driveway and open parking; Attached garage with 2 garage spaces
• Utilities: Public water; Public sewer; Electricity available and connected; Water available and connected; Sewer available and connected; Broadband/high‑speed internet available
• Home design: Residential income property (quadruplex); Two buildings on site; Single‑story units; Homestead exemption on property
• Construction: Block and stucco construction; Membrane roof; Slab foundation; Built as completed condition
• Exterior features: Covered front porch; Fence; Paved lot; Asphalt road access; Publicly maintained road

Interior

• Kitchen: Cooktop; Range; Microwave; Freezer
• Bedrooms: Four bedrooms
• Flooring: Tile
• Bathrooms: One bathroom per 1‑bedroom unit (quadruplex configuration)
• Heating & cooling: Central heating; Electric heating; Ductless heating units; Central air; Wall/window air conditioning units
• Interior features: Kitchen open to family room; Thermostat
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry room inside; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $598k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive. Per door: $182/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $598k).
• Recommended offer: $544k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.6% in Seminole — 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 88/100 on livability (#5 in FL, #174 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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: Starkey Elementary School (math 63% / reading 58%, grade B-, #664 of 2,144 statewide, top 32%, 657 students, 54% FRL); Osceola Middle School (math 48% / reading 45%, grade D+, #297 of 571 statewide, top 52%, 1,009 students, 52% FRL); Richard O Jacobson Technical High School At Seminole (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 578 students, 45% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents falling (-3.4%/yr); 119 active listings in the ZIP; solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $6,026/mo this rent would consume 94% of the median local household income ($77k/yr) (locally 314% 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 $4k of loan paydown is wiped out by about $18k 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 103 days — a 9% lower offer ($544k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y 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 $450k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $544,180 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.01% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 8.3

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: -11.6%
• Equity multiple: 0.59×
• Total profit: $-68,282
• Equity at exit: $89,164

10-year hold

• IRR: -7.4%
• Equity multiple: 0.59×
• Total profit: $-68,030
• Equity at exit: $51,704

Cash invested: $167,440 (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 33773

• Rents YoY: -3.4%
• Active inventory: 119
• Price-to-rent: 33.1×

Monthly cashflow live

• Estimated rent: $6,026 high
• Mortgage (P&I): −$3,136
• Tax from tax record: −$649 /mo · $7,791/yr
• Insurance: −$249
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,265
• Net cashflow: $726

Break-even live

Break-even rent $5,107

Max offer price $598,000

Occupancy floor 83%

Sensitivity live

Price	-10% $1,065	-5% $895	+0% $726	+5% $557	+10% $388
Rent	-10% $250	-5% $488	+0% $726	+5% $964	+10% $1,202
Rate	-1.0pp $1,027	-0.5pp $878	base $726	+0.5pp $571	+1.0pp $414

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,024
Total (4 units)			$6,026

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: $149,500
• Closing costs: $17,940
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-22
   days on market $598,000 Active 103 DOM
2. 2026-06-18
   days on market $598,000 Active 100 DOM
3. 2026-06-17
   days on market $598,000 Active 99 DOM
4. 2026-06-16
   days on market $598,000 Active 98 DOM
5. 2026-06-15
   days on market $598,000 Active 97 DOM
6. 2026-06-13
   days on market $598,000 Active 95 DOM
7. 2026-06-09
   days on market $598,000 Active 91 DOM
8. 2026-06-08
   days on market $598,000 Active 90 DOM
9. 2026-06-07
   days on market $598,000 Active 89 DOM
10. 2026-06-04
    days on market $598,000 Active 86 DOM
11. 2026-06-03
    days on market $598,000 Active 85 DOM
12. 2026-06-01
    days on market $598,000 Active 83 DOM
13. 2026-05-31
    days on market $598,000 Active 82 DOM
14. 2026-04-10
    historical $1,145
15. 2026-04-02
    price $598,000
16. 2026-03-10
    listed $615,000 Active
17. 2026-01-30
    price $1,145
18. 2025-12-26
    listed $1,300
19. 2025-12-12
    historical $1,300
20. 2025-12-05
    listed $1,300
21. 2022-03-09
    historical
22. 2022-02-08
    price $585,000
23. 2022-01-01
    listed $600,000 Active
24. 2021-07-18
    soldstatus $450,000 Closed 269-char remark

    Show marketing remark (269 chars)

    Property has two buildings with two units in each building. One building has attached garage for each unit. Units can be rented with or without use of the garages, providing the owner/investor an opportunity for storage or increased rent. All units are tenant occupied.

25. 2021-07-16
    soldstatus $450,000
26. 2021-06-14
    status Pending 269-char remark

    Show marketing remark (269 chars)

    Property has two buildings with two units in each building. One building has attached garage for each unit. Units can be rented with or without use of the garages, providing the owner/investor an opportunity for storage or increased rent. All units are tenant occupied.

27. 2021-05-13
    listed $495,000 Active 269-char remark

    Show marketing remark (269 chars)

    Property has two buildings with two units in each building. One building has attached garage for each unit. Units can be rented with or without use of the garages, providing the owner/investor an opportunity for storage or increased rent. All units are tenant occupied.

28. 2017-12-30
    soldstatus $214,000 Sold
29. 2017-12-29
    soldstatus $214,000
30. 2017-12-02
    status Pending
31. 2017-12-01
    status Active
32. 2017-11-20
    status Pending
33. 2017-11-16
    listed $217,000 Active
34. 2015-08-31
    historical
35. 2015-02-27
    listed $189,900 Active
36. 2013-06-05
    listed $189,000
37. 2008-04-22
    listed $224,900
38. 2007-08-15
    listed $224,900
39. 2006-06-10
    listed $334,900
40. 2005-08-01
    soldstatus $215,000
41. 2005-08-01
    listed $234,500
42. 2005-07-19
    soldstatus $219,000
43. 1999-12-30
    soldstatus $115,000
44. 1986-12-09
    soldstatus $75,500
45. 1983-09-01
    soldstatus $70,000

ⓘ 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: $7,791 · $649/mo
• Projected year-2 tax: $7,791 · $649/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 6/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,312
• − Mortgage interest: −$33,497
• − Property taxes: −$7,791
• − Insurance: −$2,990
• − Repairs & maintenance: −$5,785
• − Management: −$5,785
• − Depreciation: −$17,396
• Taxable loss: −$932
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $8,938/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 — Seminole

• Score: 88/100
• State rank: #5
• US rank: #174

Category grades

Amenities A- Commute A+ Cost of living A- Crime B Employment B Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pinellas County · 939,478 people
• City population: 42,315
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 16,741
• Household income: $76,867
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 314.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 8% Hispanic / Latino 8% Asian 7% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 12% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · Spanish 5% Vietnamese 3% Other Indo-European 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: ▼ -367.92%
• Current HPI: 319.4536
• Rent YoY: ▼ -3.37%
• 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

-98.4% since first listed

32 events — show timeline

• 2026-04-10 Rental Removed $1,145 SHOWMOJO
• 2026-04-02 Price Changed $598,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Listed $615,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $1,145 SHOWMOJO
• 2025-12-26 Listed for Rent $1,300 SHOWMOJO
• 2025-12-12 Rental Removed $1,300 SHOWMOJO
• 2025-12-05 Listed for Rent $1,300 SHOWMOJO
• 2022-03-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-02-08 Price Changed $585,000 Stellar MLS as Distributed by MLS Grid
• 2022-01-01 Listed $600,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-18 Sold (MLS) $450,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-16 Sold (Public Records) $450,000 Public Records
• 2021-06-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-05-13 Listed $495,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-30 Sold (MLS) $214,000 Stellar MLS as Distributed by MLS Grid
• 2017-12-29 Sold (Public Records) $214,000 Public Records
• 2017-12-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-12-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-11-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-11-16 Listed $217,000 Stellar MLS as Distributed by MLS Grid
• 2015-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-02-27 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2013-06-05 Listed $189,000 Stellar MLS as Distributed by MLS Grid
• 2008-04-22 Listed $224,900 Stellar MLS as Distributed by MLS Grid
• 2007-08-15 Listed $224,900 Stellar MLS as Distributed by MLS Grid
• 2006-06-10 Listed $334,900 Stellar MLS as Distributed by MLS Grid
• 2005-08-01 Listed $234,500 Stellar MLS as Distributed by MLS Grid
• 2005-08-01 Sold (MLS) $215,000 Stellar MLS as Distributed by MLS Grid
• 2005-07-19 Sold (Public Records) $219,000 Public Records
• 1999-12-30 Sold (Public Records) $115,000 Public Records
• 1986-12-09 Sold (Public Records) $75,500 Public Records
• 1983-09-01 Sold (Public Records) $70,000 Public Records

Property tax history

+13.5%/yr

Latest (2025): $7,791 · -0.8% YoY. Source: county tax records.