16105 1st St E · Redington Beach, FL 33708

$425,000

2 bd · 1.5 ba · 1,460 sqft · SingleFamily public records · 95 Days on market

Built 1957 5,998 sqft lot Est $596k · 29% under ↓ 4% since listing

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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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. LOCATION, LOCATION, LOCATION! Just one block from the sugar-sand beaches of Redington Beach, this solid block home offers an incredible opportunity to create your own coastal retreat. Featuring 2 bedrooms, 2 bathrooms, a spacious living room and family room, plus a screened rear porch, the layout provides flexibility with room to reimagine. The home has been professionally remediated and is ready for its new owner, providing a solid starting point for your vision. With plenty of space for a pool, the possibilities are endless—repair, renovate, or rebuild to suit your needs. Whether you’re seeking a short-term rental, vacation getaway, or p

Key facts

• Screened rear porch
• Space for a pool
• Investment potential

Tags

• SCREENED REAR PORCH
• PROFESSIONALLY REMEDIATED
• SPACE FOR A POOL
• INVESTMENT POTENTIAL
• PRIME LOCATION

Property features AI

Finance

• Other: Property listed as unfurnished
• HOA & community: No HOA/association

Exterior

• Parking: Carport (1 space)
• Utilities: Electricity available; Water available; Sewer available; Private sewer
• Home design: Single-family residence; One-story; Faces west; Residential property
• Construction: Block construction; Concrete and tile roof; Slab foundation; Built on one level
• Exterior features: Rear screened porch; Asphalt road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Terrazzo flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $55 ($655/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 $395k (7.1% below list).
• Recommended offer: $387k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 1.6% in Redington Beach — 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 67/100 on livability (#558 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, cost of living 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.
• Zoned schools: Bauder Elementary School (math 80% / reading 73%, grade A, #185 of 2,144 statewide, top 9%, 644 students, 28% FRL); Seminole Middle School (math 55% / reading 53%, grade B-, #196 of 571 statewide, top 36%, 824 students, 49% FRL); Seminole High School (math 26% / reading 47%, grade F, #351 of 667 statewide, top 54%, 1,546 students, 39% FRL).
• Market conditions: Rents soft (-1.8%/yr); 573 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,948/mo this rent would consume 57% of the median local household income ($82k/yr) (locally 734% 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 $3k of loan paydown is wiped out by about $13k 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 95 days — a 9% lower offer ($387k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $386,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.93% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $595,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16033 Redington Dr	0.24mi	3/2.0 (+1)	1,401 (-4%)	1mo	$942,500	$673	74
205 163rd Ave	0.18mi	2/1.5	1,380 (-6%)	10mo	$325,000	$236	74
16104 Redington Dr	0.11mi	2/1.0	1,358 (-7%)	10mo	$305,000	$225	73
15814 3rd St E	0.25mi	2/2.0	1,530 (+5%)	7mo	$430,000	$281	73
16343 Redington Dr	0.39mi	2/2.0	1,512 (+4%)	5mo	$815,000	$539	70
16304 3rd St E	0.21mi	3/2.5 (+1)	1,556 (+7%)	5mo	$385,000	$247	66
16214 Redington Dr	0.17mi	3/1.5 (+1)	1,292 (-12%)	4mo	$600,000	$464	64
16006 Redington Dr	0.14mi	3/2.0 (+1)	1,280 (-12%)	2mo	$585,000	$457	64
15909 1st St E	0.18mi	3/2.0 (+1)	1,540 (+6%)	14mo	$370,000	$240	64
16212 1st St E	0.13mi	3/2.5 (+1)	1,629 (+12%)	9mo	$430,000	$264	58
16312 Redington Dr	0.27mi	3/2.0 (+1)	1,300 (-11%)	15mo	$530,000	$408	50
16018 Redington Dr	0.19mi	3/2.0 (+1)	1,270 (-13%)	16mo	$695,000	$547	49

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.35×
• Total profit: $-76,821
• Equity at exit: $63,369

10-year hold

• IRR: -19.7%
• Equity multiple: 0.10×
• Total profit: $-106,569
• Equity at exit: $36,746

Cash invested: $119,000 (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 33708

• Rents YoY: -1.8%
• Active inventory: 573
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,948 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$232 /mo · $2,782/yr
• Insurance: −$177
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$829
• Net cashflow: $55

Break-even live

Break-even rent $3,879

Max offer price $425,000

Occupancy floor 94%

Sensitivity live

Price	-10% $295	-5% $175	+0% $55	+5% $-66	+10% $-186
Rent	-10% $-257	-5% $-101	+0% $55	+5% $211	+10% $367
Rate	-1.0pp $269	-0.5pp $163	base $55	+0.5pp $-56	+1.0pp $-168

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16109 3rd St E Redington Beach, FL	3.0	2.0	1772	$5,500	$3.10	6d	1	0.06mi
104 163rd Ave Redington Beach, FL	2.0	2.0	1108	$3,200	$2.89	19d	1	0.17mi
16308 Gulf Blvd #408 Redington Beach, FL	2.0	2.0	1065	$5,000	$4.69	6d	1	0.24mi
10 158th Ave Redington Beach, FL	2.0	2.0	1700	$2,975	$1.75	26d	1	0.34mi
16330 Gulf Blvd #304 Redington Beach, FL	2.0	2.0	1375	$6,999	$5.09	6d	1	0.34mi
16613 Gulf Blvd North Redington Beach, FL	3.0	2.0	1243	$5,000	$4.02	26d	1	0.39mi
16450 Gulf Blvd #564 North Redington Beach, FL	3.0	2.0	1460	$9,500	$6.51	6d	1	0.40mi
16500 Gulf Blvd #355 North Redington Beach, FL	3.0	2.0	1460	$9,000	$6.16	6d	1	0.44mi
16550 Gulf Blvd #643 North Redington Beach, FL	2.0	2.0	1230	$8,000	$6.50	26d	1	0.48mi
16550 Gulf Blvd #545 North Redington Beach, FL	2.0	2.0	1230	$4,500	$3.66	16d	1	0.48mi
16700 Gulf Blvd #624 North Redington Beach, FL	2.0	2.0	1190	$7,000	$5.88	26d	1	0.57mi
16700 Gulf Blvd #423 North Redington Beach, FL	3.0	2.0	1435	$9,500	$6.62	26d	1	0.57mi
15565 Gulf Blvd Redington Beach, FL	3.0	2.5	1678	$3,600	$2.15	9d	1	0.58mi
15462 Gulf Blvd #501 Madeira Beach, FL	2.0	2.0	1100	$3,800	$3.45	4d	1	0.71mi
15462 Gulf Blvd #508 Madeira Beach, FL	2.0	2.5	1100	$3,800	$3.45	6d	1	0.71mi
15400 Gulf Blvd Unit 1546427P Madeira Beach, FL	2.0	2.0	1184	$3,742	$3.16	16d	1	0.75mi
15398 2nd St E Madeira Beach, FL	2.0	2.0	1296	$2,795	$2.16	18d	1	0.78mi
17045 Dolphin Dr North Redington Beach, FL	2.0	2.5	1176	$4,000	$3.40	6d	1	0.79mi
17035 Gulf Blvd #104 North Redington Beach, FL	2.0	2.0	900	$3,000	$3.33	22d	1	0.80mi
535 173rd Ave E North Redington Beach, FL	2.0	2.0	1189	$3,895	$3.28	6d	1	0.88mi
5434 Oakhurst Dr Seminole, FL	3.0	2.0	1719	$6,000	$3.49	26d	1	0.88mi
17105 Gulf Blvd North Redington Beach, FL	1.0–2.0	1.0–2.0	999	$2,440	$2.44	0d	10	0.91mi
573 Boca Ciega Point Blvd N Saint Petersburg, FL	2.0	2.0	1400	$3,650	$2.61	26d	1	0.97mi
4750 Cove Cir #302 Saint Petersburg, FL	2.0	2.0	1040	$2,500	$2.40	26d	1	1.01mi
4775 Cove Cir #202 Saint Petersburg, FL	2.0	2.0	1050	$1,850	$1.76	26d	1	1.09mi
4775 Cove Cir #508 Saint Petersburg, FL	2.0	2.0	1050	$2,000	$1.90	25d	1	1.09mi
4775 Cove Cir #1102 Saint Petersburg, FL	2.0	2.0	1050	$1,700	$1.62	9d	1	1.09mi
4775 Cove Cir #1202 Saint Petersburg, FL	2.0	2.0	1050	$3,500	$3.33	26d	1	1.09mi
17400 Gulf Blvd Redington Shores, FL	2.0	2.0	1325	$4,000	$3.02	26d	1	1.11mi
14950 Gulf Blvd #402 Madeira Beach, FL	2.0	2.0	1225	$5,000	$4.08	26d	1	1.13mi
17408 Gulf Blvd Redington Shores, FL	2.0	2.0	1450	$3,200	$2.21	5d	2	1.15mi
4650 Cove Cir #402 Saint Petersburg, FL	2.0	2.0	970	$3,500	$3.61	26d	1	1.15mi
17408 Gulf Blvd #1003 Redington Shores, FL	2.0	2.0	1450	$3,500	$2.41	26d	1	1.15mi
4650 Cove Cir #611 Saint Petersburg, FL	2.0	2.0	970	$2,500	$2.58	6d	1	1.15mi
401 150th Ave #266 Madeira Beach, FL	2.0	2.0	1270	$3,800	$2.99	6d	1	1.16mi
4525 Cove Cir #608 Saint Petersburg, FL	2.0	2.0	1060	$1,950	$1.84	0d	1	1.17mi
401 150th Ave Madeira Beach, FL	2.0	2.0	1280	$3,350	$2.62	26d	2	1.17mi
1 Boca Ciega Point Blvd #115 Saint Petersburg, FL	2.0	2.0	920	$1,900	$2.07	4d	1	1.18mi
4575 Cove Cir #703 Saint Petersburg, FL	2.0	2.0	1040	$2,200	$2.12	6d	1	1.20mi
11235 Kapok Grand Cir Saint Petersburg, FL	2.0	2.5	1524	$2,900	$1.90	26d	1	1.28mi

Listing history 3 events

1. 2026-04-21
   status Pending
2. 2026-02-25
   price $425,000
3. 2026-01-16
   listed $445,000 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: $2,782 · $232/mo
• Projected year-2 tax: $3,528 · $294/mo
• Expected delta: +$745/yr (+$62/mo · 26.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥108°F today · 29 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,375
• − Mortgage interest: −$23,807
• − Property taxes: −$2,782
• − Insurance: −$7,244
• − Repairs & maintenance: −$3,790
• − Management: −$3,790
• − Depreciation: −$12,364
• Taxable loss: −$6,401
• Est. tax savings @ 24.0%: +$1,536
• After-tax cash flow: $2,192/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 — Redington Beach

• Score: 67/100
• State rank: #558
• US rank: #10672

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redington Beach, FL
• County: Pinellas County · 939,478 people
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 15,060
• Household income: $82,500
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 734.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 3%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 3% Vietnamese 2% Russian/Polish/Slavic 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: ▼ -663.41%
• Current HPI: 317.0675
• Rent YoY: ▼ -1.77%
• 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

-4.5% since first listed

3 events — show timeline

• 2026-04-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $425,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-16 Listed $445,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2025): $2,782 · -4.9% YoY. Source: county tax records.