4835 21st St N · St. Petersburg, FL 33714

$349,000

4 bd · 2.0 ba · 1,201 sqft · MultiFamily public records · 17 Days on market

Built 1985

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• 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 MLS

DUPLEX FOR SALE! This duplex is looking for a new owner who can do the updates and repairs needed to make this your dream investment. Live in the first unit while enjoying the added income by renting out the second unit or the second unit would be perfect for an older teen or useful as a mother-in-law suite Each unit has 2 bedrooms and 1 bath. Screened-in front porch is a nice place to sit with your coffee and newspaper and enjoy the morning fresh air. Nice size fenced-in backyard is perfect for creating your summertime fun spot by adding a pool, patio set and grill and invite neighbors, friends and family over for a day of swimming and grilling in your new home. This has a lot of potential, come take a look! Buyers to verify all facts pertinent to their purchase decision.

Key facts

• Large driveway
• Spacious backyard
• Quiet neighborhood

Tags

• NEW ROOF
• SPACIOUS BACKYARD
• QUIET NEIGHBORHOOD
• LARGE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive. Per door: $250/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $344k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 C — 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 (-2.1%/yr); 165 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,538/mo this rent would consume 89% of the median local household income ($47k/yr) (locally 915% 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 $2k of loan paydown is wiped out by about $10k 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 17 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $98k; list at $349k implies a 258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $343,765 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.2

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: -10.1%
• Equity multiple: 0.64×
• Total profit: $-35,095
• Equity at exit: $52,037

10-year hold

• IRR: -5.4%
• Equity multiple: 0.70×
• Total profit: $-29,700
• Equity at exit: $30,175

Cash invested: $97,720 (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: 16.4×

Monthly cashflow live

• Estimated rent: $3,538 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$319 /mo · $3,833/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$743
• Net cashflow: $500

Break-even live

Break-even rent $2,905

Max offer price $349,000

Occupancy floor 81%

Sensitivity live

Price	-10% $698	-5% $599	+0% $500	+5% $401	+10% $302
Rent	-10% $220	-5% $360	+0% $500	+5% $640	+10% $779
Rate	-1.0pp $676	-0.5pp $589	base $500	+0.5pp $410	+1.0pp $318

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,538
Total (2 units)			$3,538

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1416 55th Ave N St Petersburg, FL	3.0	2.0	1300	$4,600	$3.54	25d	1	0.67mi
2519 39th Ave N Saint Petersburg, FL	3.0	2.0	1005	$2,750	$2.74	25d	1	0.68mi
5924 15th Way N Saint Petersburg, FL	3.0	2.0	1104	$3,200	$2.90	5d	1	0.83mi
4628 Dr Martin Luther King Jr St N Saint Petersburg, FL	3.0	2.0	1421	$2,950	$2.08	25d	1	0.92mi
5210 Doctor Martin Luther King Junior St N St. Petersburg, FL	3.0	2.0	1318	$3,600	$2.73	15d	1	0.95mi
4129 32nd St N Unit B St. Petersburg, FL	3.0	1.0	1000	$2,150	$2.15	25d	1	0.97mi
3301 19th St N Saint Petersburg, FL	3.0	1.0	866	$2,200	$2.54	5d	1	0.98mi
3132 56th Ave N Saint Petersburg, FL	3.0	2.0	1063	$2,850	$2.68	25d	1	1.00mi
1221 35th Ave N Saint Petersburg, FL	3.0	2.0	1074	$2,900	$2.70	19d	1	1.05mi
1329 34th Ave N Saint Petersburg, FL	4.0	2.0	1252	$3,700	$2.96	25d	1	1.06mi
3113 Union St N Saint Petersburg, FL	4.0	2.0	1156	$2,261	$1.96	5d	1	1.08mi
6630 17th Ln N Saint Petersburg, FL	3.0	1.0	1324	$2,489	$1.88	16d	1	1.13mi
6379 29th St N Saint Petersburg, FL	3.0	2.0	1323	$2,869	$2.17	25d	1	1.15mi
2912 23rd St N Saint Petersburg, FL	3.0	1.0	816	$2,180	$2.67	21d	1	1.21mi
5185 6th Way N St Petersburg, FL	3.0	2.5	1480	$3,150	$2.13	5d	1	1.24mi
628 51st Ave N Saint Petersburg, FL	3.0	2.5	1480	$2,800	$1.89	4d	1	1.24mi
617 52nd Ave N Saint Petersburg, FL	3.0	2.5	1481	$3,250	$2.19	5d	1	1.25mi
3584 54th Ave N Saint Petersburg, FL	3.0	1.0	1012	$1,950	$1.93	5d	1	1.27mi
2612 68th Ave N Saint Petersburg, FL	5.0	2.0	1438	$3,000	$2.09	25d	1	1.30mi
6900 16th St N Saint Petersburg, FL	3.0	1.0	1150	$2,095	$1.82	5d	1	1.36mi
3066 8th St N Saint Petersburg, FL	3.0	2.0	1232	$3,500	$2.84	5d	1	1.48mi
7111 16th St N Saint Petersburg, FL	3.0	1.0	1130	$2,695	$2.38	5d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $349,000 Active 17 DOM
2. 2026-06-17
   days on market $349,000 Active 16 DOM
3. 2026-06-16
   days on market $349,000 Active 15 DOM
4. 2026-06-15
   days on market $349,000 Active 14 DOM
5. 2026-06-13
   days on market $349,000 Active 12 DOM
6. 2026-06-09
   days on market $349,000 Active 8 DOM
7. 2026-06-08
   days on market $349,000 Active 7 DOM
8. 2026-06-07
   days on market $349,000 Active 6 DOM
9. 2026-06-04
   days on market $349,000 Active 3 DOM
10. 2026-06-03
    days on market $349,000 Active 2 DOM
11. 2026-06-02
    remarks 503-char remark
12. 2026-06-02
    listed $349,000 Active 1 DOM

ⓘ 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: $3,833 · $319/mo
• Projected year-2 tax: $3,833 · $319/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $42,456
• − Mortgage interest: −$19,549
• − Property taxes: −$3,833
• − Insurance: −$1,745
• − Repairs & maintenance: −$3,396
• − Management: −$3,396
• − Depreciation: −$10,153
• Taxable income: $383
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $5,908/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: 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

+794.9% since first listed

14 events — show timeline

• 2026-06-02 Listed $349,000 FSBO.com
• 2015-09-25 Sold (MLS) $97,600 Stellar MLS as Distributed by MLS Grid
• 2015-09-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-08-12 Price Changed $73,000 Stellar MLS as Distributed by MLS Grid
• 2015-08-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2015-06-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2015-05-08 Listed $84,900 Stellar MLS as Distributed by MLS Grid
• 2012-01-29 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2008-07-24 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2007-02-14 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2003-06-26 Sold (Public Records) $87,000 Public Records
• 1998-03-02 Sold (Public Records) $52,500 Public Records
• 1990-05-17 Sold (Public Records) $35,000 Public Records
• 1988-12-30 Sold (Public Records) $39,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $3,833 · +10.7% YoY. Source: county tax records.