1405 E North St · Tampa, FL 33604

$275,000

3 bd · 1.0 ba · 904 sqft · SingleFamily public records · 269 Days on market

Built 1948 8,400 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 +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located near downtown Tampa, nestled in the sought-after community of Old Seminole Heights, the location is perfect. The streets have homes with space in between, and trees that are many decades old. Locally owned restaurants are a hallmark of the areas known as The Heights, featuring establishments such as The Old Heights Bistro, The Independent, Rooster & the Till, and many more. Deciding which one to choose may be the hardest decision until you get to their menus. Parks along the Hillsborough River with kayak launches, covered picnic tables, and walking paths, as well as sports parks, like the McDugald Park sand volleyball courts and ball field. If you work in downtown Tampa, avoid the hassle and get to work without using the often congested interstates. This 3-bedroom 1-bath bungalow with hardwood floors throughout boasts a front porch and a spacious backyard. The home received a new roof in 2025. The refrigerator and oven are new 2025. Transferable termite warranty, home was tented in May 2023 and then inspected again just prior to listing. The shed in the backyard has electricity, and there’s a concrete pad next to it, perfect to set up as a backyard relaxation spot. Since the shed has electricity, a mini fridge for chilled drinks on a hot afternoon, c’est la vie!

Key facts

• Spacious backyard
• New roof
• 8,400 sq ft lot

Tags

• CONVENIENT TO DOWNTOWN TAMPA
• SOUGHT AFTER COMMUNITY
• MANY DECADES OLD TREES
• SPACIOUS BACKYARD
• NEW ROOF
• TRANSFERABLE TERMITE WARRANTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $22 ($261/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (25.0% below list).
• Recommended offer: $206k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#142 in FL, #2,135 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 371 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• This rent runs 42% of the median local income ($59k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $57k; list at $275k implies a 382% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $206,215 (25.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.37×
• Total profit: $-48,348
• Equity at exit: $41,003

10-year hold

• IRR: -15.4%
• Equity multiple: 0.21×
• Total profit: $-60,531
• Equity at exit: $23,777

Cash invested: $77,000 (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 33604

• Home prices YoY: -31.3%
• Rents YoY: 0.5%
• Active inventory: 371
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,062 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $22

Break-even live

Break-even rent $2,035

Max offer price $275,000

Occupancy floor 94%

Sensitivity live

Price	-10% $177	-5% $100	+0% $22	+5% $-56	+10% $-134
Rent	-10% $-141	-5% $-60	+0% $22	+5% $103	+10% $185
Rate	-1.0pp $160	-0.5pp $92	base $22	+0.5pp $-50	+1.0pp $-122

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 E Diana St Unit 1384017P Tampa, FL	3.0	2.0	1065	$3,223	$3.03	6d	1	0.13mi
1221 E Flora St Tampa, FL	2.0	1.0	931	$2,175	$2.34	19d	1	0.51mi
900 E Sligh Ave Tampa, FL	2.0	1.0–2.0	888	$2,630	$2.96	0d	35	0.55mi
1215 E Mohawk Ave Tampa, FL	2.0	1.0	840	$1,800	$2.14	12d	1	0.59mi
6712 N Harer St Tampa, FL	2.0	1.0	720	$1,525	$2.12	25d	1	0.59mi
6712 N Harer St Unit 2 Tampa, FL	2.0	1.0	720	$1,425	$1.98	6d	1	0.59mi
6712 N Harer St Unit 2 Tampa, FL	2.0	1.0	720	$1,425	$1.98	0d	1	0.59mi
1517 E Giddens Ave Tampa, FL	2.0	2.0	792	$1,850	$2.34	25d	1	0.72mi
706 E Flora St Tampa, FL	3.0	1.0	832	$2,200	$2.64	0d	1	0.78mi
310 E Lambright St Unit 310-1 Tampa, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.78mi
310 E Lambright St Unit 310-3 Tampa, FL	2.0	1.0	800	$1,650	$2.06	13d	1	0.78mi
5541 N 22nd St Tampa, FL	1.0–2.0	1.0–2.0	798	$1,950	$2.44	0d	27	0.79mi
1601 E Marks Dr Tampa, FL	2.0	1.0	700	$1,490	$2.13	25d	1	0.84mi
816 E Frierson Ave Tampa, FL	3.0	1.0	864	$2,250	$2.60	25d	1	0.87mi
1607 E Maple Ave Tampa, FL	3.0	2.0	1061	$1,500	$1.41	25d	1	0.92mi
1607 E Maple Ave Tampa, FL	3.0	2.0	1061	$1,500	$1.41	23d	1	0.92mi
5706 N Suwanee Ave Unit 1271940P Tampa, FL	2.0	1.0	914	$2,739	$3.00	0d	1	0.98mi
7903 N 13th St Tampa, FL	2.0	1.0	648	$1,199	$1.85	6d	1	1.00mi
3001 E Jean St Tampa, FL	3.0	2.0	999	$1,695	$1.70	25d	1	1.08mi
1709 E Idell St Unit B Tampa, FL	3.0	1.0	857	$1,500	$1.75	4d	1	1.08mi
8004 N Alaska St Tampa, FL	2.0	1.0	844	$1,595	$1.89	25d	1	1.09mi
118 W Sligh Ave Unit Main Tampa, FL	2.0	1.0	865	$2,750	$3.18	17d	1	1.10mi
7707 N Huntley Ave Unit 7707-5 Tampa, FL	2.0	1.0	655	$1,325	$2.02	25d	1	1.11mi
128 W North St Tampa, FL	2.0	1.0	610	$1,743	$2.86	6d	1	1.11mi
7005 N Duncan Ave Unit A Tampa, FL	2.0	1.0	814	$2,000	$2.46	21d	1	1.14mi
7717 N Huntley Ave Tampa, FL	2.0	1.0	692	$1,425	$2.06	4d	1	1.14mi
1809 E Sitka St Tampa, FL	3.0	2.0	1115	$1,840	$1.65	16d	1	1.14mi
8105 N Klondyke St Unit A- Tampa, FL	2.0	1.0	720	$1,200	$1.67	4d	1	1.15mi
7006 N Duncan Ave Unit A Tampa, FL	2.0	2.0	1000	$2,300	$2.30	0d	1	1.16mi
8105 N 12th St Tampa, FL	2.0	1.0	874	$1,650	$1.89	25d	1	1.16mi
8117 N Mulberry St Unit B Tampa, FL	3.0	1.0	800	$2,750	$3.44	23d	1	1.19mi
8117 N Mulberry St Unit B Tampa, FL	3.0	1.0	800	$1,987	$2.48	6d	1	1.19mi
8118 N Alaska St Tampa, FL	2.0	1.0	700	$1,500	$2.14	4d	1	1.24mi
3022 Deleuil Ave Tampa, FL	3.0	2.0	1053	$1,850	$1.76	20d	1	1.26mi
8210 N 13th St Tampa, FL	2.0	1.0	995	$1,895	$1.90	6d	1	1.27mi
203 W Crest Ave Tampa, FL	2.0	1.0	900	$2,100	$2.33	25d	1	1.29mi
8213 N 17th St Tampa, FL	3.0	1.0	880	$1,800	$2.05	25d	1	1.29mi
503 W Idlewild Ave Tampa, FL	2.0	2.0	968	$2,200	$2.27	18d	1	1.31mi
8218 N Elmer St Unit B Tampa, FL	2.0	1.0	756	$1,400	$1.85	25d	1	1.32mi
8304 N Mulberry St Tampa, FL	3.0	1.0	858	$1,650	$1.92	6d	1	1.32mi

Listing history 26 events

1. 2026-06-21
   days on market $275,000 Active 269 DOM
2. 2026-06-18
   days on market $275,000 Active 266 DOM
3. 2026-06-17
   days on market $275,000 Active 265 DOM
4. 2026-06-16
   days on market $275,000 Active 264 DOM
5. 2026-06-15
   days on market $275,000 Active 263 DOM
6. 2026-06-13
   days on market $275,000 Active 261 DOM
7. 2026-06-13
   days on market $275,000 Active 260 DOM
8. 2026-06-09
   days on market $275,000 Active 257 DOM
9. 2026-06-08
   days on market $275,000 Active 256 DOM
10. 2026-06-07
    days on market $275,000 Active 255 DOM
11. 2026-06-04
    days on market $275,000 Active 252 DOM
12. 2026-06-03
    days on market $275,000 Active 251 DOM
13. 2026-06-02
    days on market $275,000 Active 250 DOM
14. 2026-06-01
    days on market $275,000 Active 249 DOM
15. 2026-05-31
    days on market $275,000 Active 248 DOM
16. 2025-12-26
    status Active 1321-char remark

    Show marketing remark (1321 chars)

    Conveniently located near downtown Tampa, nestled in the sought-after community of Old Seminole Heights, the location is perfect. The streets have homes with space in between, and trees that are many decades old. Locally owned restaurants are a hallmark of the areas known as The Heights, featuring establishments such as The Old Heights Bistro, The Independent, Rooster & the Till, and many more. Deciding which one to choose may be the hardest decision until you get to their menus. Parks along the Hillsborough River with kayak launches, covered picnic tables, and walking paths, as well as sports parks, like the McDugald Park sand volleyball courts and ball field. If you work in downtown Tampa, avoid the hassle and get to work without using the often congested interstates. This 3-bedroom 1-bath bungalow with hardwood floors throughout boasts a front porch and a spacious backyard. The home received a new roof in 2025. The refrigerator and oven are new 2025. Transferable termite warranty, home was tented in May 2023 and then inspected again just prior to listing. The shed in the backyard has electricity, and there’s a concrete pad next to it, perfect to set up as a backyard relaxation spot. Since the shed has electricity, a mini fridge for chilled drinks on a hot afternoon, c’est la vie!

17. 2025-12-19
    status Pending 1321-char remark

    Show marketing remark (1321 chars)

    Conveniently located near downtown Tampa, nestled in the sought-after community of Old Seminole Heights, the location is perfect. The streets have homes with space in between, and trees that are many decades old. Locally owned restaurants are a hallmark of the areas known as The Heights, featuring establishments such as The Old Heights Bistro, The Independent, Rooster & the Till, and many more. Deciding which one to choose may be the hardest decision until you get to their menus. Parks along the Hillsborough River with kayak launches, covered picnic tables, and walking paths, as well as sports parks, like the McDugald Park sand volleyball courts and ball field. If you work in downtown Tampa, avoid the hassle and get to work without using the often congested interstates. This 3-bedroom 1-bath bungalow with hardwood floors throughout boasts a front porch and a spacious backyard. The home received a new roof in 2025. The refrigerator and oven are new 2025. Transferable termite warranty, home was tented in May 2023 and then inspected again just prior to listing. The shed in the backyard has electricity, and there’s a concrete pad next to it, perfect to set up as a backyard relaxation spot. Since the shed has electricity, a mini fridge for chilled drinks on a hot afternoon, c’est la vie!

18. 2025-09-18
    listed $275,000 Active 1321-char remark

    Show marketing remark (1321 chars)

    Conveniently located near downtown Tampa, nestled in the sought-after community of Old Seminole Heights, the location is perfect. The streets have homes with space in between, and trees that are many decades old. Locally owned restaurants are a hallmark of the areas known as The Heights, featuring establishments such as The Old Heights Bistro, The Independent, Rooster & the Till, and many more. Deciding which one to choose may be the hardest decision until you get to their menus. Parks along the Hillsborough River with kayak launches, covered picnic tables, and walking paths, as well as sports parks, like the McDugald Park sand volleyball courts and ball field. If you work in downtown Tampa, avoid the hassle and get to work without using the often congested interstates. This 3-bedroom 1-bath bungalow with hardwood floors throughout boasts a front porch and a spacious backyard. The home received a new roof in 2025. The refrigerator and oven are new 2025. Transferable termite warranty, home was tented in May 2023 and then inspected again just prior to listing. The shed in the backyard has electricity, and there’s a concrete pad next to it, perfect to set up as a backyard relaxation spot. Since the shed has electricity, a mini fridge for chilled drinks on a hot afternoon, c’est la vie!

19. 2009-03-26
    soldstatus $57,000 452-char remark

    Show marketing remark (452 chars)

    Bank Owned! What a cute home with an over-sized lot. This home offers good curb appeal, cute kitchen, gorgeous front window, ceiling fans, 3 bedrooms, front porch, screened patio, over-sized driveway and storage shed. Seller Requirements: Proof of funds at time of offer or mortgage pre-approval letter, Sold "AS-IS with Right to Inspect", $1000 deposit using certified funds. Purchaser will be required to activate utilities for inspections.

20. 2008-12-18
    listed $65,600 452-char remark

    Show marketing remark (452 chars)

    Bank Owned! What a cute home with an over-sized lot. This home offers good curb appeal, cute kitchen, gorgeous front window, ceiling fans, 3 bedrooms, front porch, screened patio, over-sized driveway and storage shed. Seller Requirements: Proof of funds at time of offer or mortgage pre-approval letter, Sold "AS-IS with Right to Inspect", $1000 deposit using certified funds. Purchaser will be required to activate utilities for inspections.

21. 2006-04-11
    soldstatus $152,000
22. 2006-04-06
    soldstatus $152,000
23. 2006-02-23
    listed $149,900
24. 2004-02-27
    soldstatus $115,000
25. 1987-05-01
    soldstatus $46,000
26. 1979-10-01
    soldstatus $26,500

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$1,675/yr (+$140/mo · 275.5%)

ⓘ 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 ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $24,746
• − Mortgage interest: −$15,404
• − Property taxes: −$608
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − Depreciation: −$8,000
• Taxable loss: −$4,601
• Est. tax savings @ 24.0%: +$1,104
• After-tax cash flow: $1,365/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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Tampa

• Score: 79/100
• State rank: #142
• US rank: #2135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tampa, FL
• County: Hillsborough County · 1,540,968 people
• City population: 523,346
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 40,055
• Household income: $58,766
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 2581.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 38% White 35% Two or more races 22% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Cuban 13% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 18% · Canada, Vietnam, Jamaica
• Languages at home: 66% English-only · Spanish 30% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -200.24%
• Current HPI: 439.7084
• Rent YoY: ▲ 0.52%
• 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

+937.7% since first listed

11 events — show timeline

• 2025-12-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2009-03-26 Sold (MLS) $57,000 Stellar MLS as Distributed by MLS Grid
• 2008-12-18 Listed $65,600 Stellar MLS as Distributed by MLS Grid
• 2006-04-11 Sold (Public Records) $152,000 Public Records
• 2006-04-06 Sold (MLS) $152,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-23 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2004-02-27 Sold (Public Records) $115,000 Public Records
• 1987-05-01 Sold (Public Records) $46,000 Public Records
• 1979-10-01 Sold (Public Records) $26,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $608 · +5.8% YoY. Source: county tax records.