5920 18th St N #6 · Lealman, FL 33714

$64,998

1 bd · 1.0 ba · 585 sqft · Condo public records · 3 Days on market

Built 1967 $411/mo HOA · 30% of rent

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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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

RENTAL UNIT!!! current tenant paying $1000 and his lease ends on October 1, 2006. Unit located on the first floor. Welcome to a unique opportunity in a coveted 55+ community, nestled in the heart of Pinellas County. This one-bedroom condo is located in the exclusive rental-approved building within the community, allowing for tenants aged 55 and over. Currently tenant-occupied, this unit is a blank canvas for a complete remodel, presenting an exciting investment opportunity. While the unit requires a refresh, the tenant is reliable, paying rent on time, ensuring immediate income. Pets allowed with appropriate documentation. Enjoy resort-style amenities: an on-site lake, a clubhouse with a s

Key facts

• Pickleball
• Scenic walking paths
• On site lake

Tags

• RESORT STYLE AMENITIES
• ON SITE LAKE
• CLUBHOUSE WITH SAUNA
• PICKLEBALL
• GRILL AREA
• SCENIC WALKING PATHS

Property features AI

Finance

• Other: Unfurnished unit; Home warranty not included; Directions: Take 62 Ave N to Town Apartments, turn south and go straight and left
• Financial info: Total monthly condo/HOA fees $411; Total annual fees $4,932; Lease restrictions apply
• HOA & community: Monthly condo fee $411 (includes cable TV, pool, gas, insurance, internet, structure and grounds maintenance, security, sewer, trash, water); Association name: GAIL and Town Apartments; Association approval required; Condo fees paid monthly; Community features include pool and sidewalks; Senior community; pets not allowed

Exterior

• Parking: Carport with 1 space
• Security: Community security included in association
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Natural gas available
• Home design: Condominium; Residential property; Two levels (one story listed for building total, unit on second floor); Faces East
• Construction: Block and other construction materials; Shingle roof; Block foundation; Building identified as #5920; Built as part of an existing multi-unit complex
• Exterior features: In-ground pool; Heated spa; Exterior lighting; Sidewalks

Interior

• Kitchen: Refrigerator included
• Bedrooms: 1 bedroom (located on second floor)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room/dining room combo; Lighting (exterior lighting noted in interior/exterior context)
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 10.3% vs local median 4.7% in 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 (#83 in FL, #1,394 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment 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: John M. Sexton Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 449 students, 71% FRL); Meadowlawn Middle School (math 29% / reading 30%, grade F, #469 of 571 statewide, top 84%, 832 students, 69% FRL); Northeast High School (math 35% / reading 47%, grade F, #289 of 667 statewide, top 44%, 1,736 students, 50% FRL) — zoned schools average 63% FRL vs 48% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 51% district-wide (-12 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.1%/yr); 165 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 35% of the median local income ($47k/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 $450 of loan paydown is wiped out by about $2k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $21k; list at $65k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,998

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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 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: 2.12% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.38%
• DSCR: 1.64
• GRM: 3.9

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-412
• Equity at exit: $9,691

10-year hold

• IRR: 3.0%
• Equity multiple: 1.17×
• Total profit: $3,024
• Equity at exit: $5,620

Cash invested: $18,199 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$341
• Tax from tax record: −$94 /mo · $1,129/yr
• Insurance: −$27
• HOA: −$411
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $218

Break-even live

Break-even rent $1,105

Max offer price $64,998

Occupancy floor 79%

Sensitivity live

Price	-10% $255	-5% $236	+0% $218	+5% $200	+10% $181
Rent	-10% $109	-5% $163	+0% $218	+5% $273	+10% $327
Rate	-1.0pp $251	-0.5pp $235	base $218	+0.5pp $201	+1.0pp $184

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 18th St N St Petersburg, FL	1.0–2.0	1.0–2.0	727	$1,300	$1.79	25d	2	0.06mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	25d	1	0.98mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	5d	1	0.99mi
3109 54th Ave N Saint Petersburg, FL	1.0	1.0	400	$1,025	$2.56	23d	1	1.11mi
3109 54th Ave N Unit 1/2 St. Petersburg, FL	1.0	1.0	400	$1,025	$2.56	19d	1	1.11mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	25d	1	1.14mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	4d	1	1.14mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	25d	1	1.25mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	9d	2	1.27mi
1001 77th Ave N #308 Saint Petersburg, FL	1.0	1.0	650	$1,325	$2.04	6d	1	1.33mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$2,375	$2.46	3d	13	1.37mi
1051 79th Ave N #107 Saint Petersburg, FL	1.0	1.5	720	$1,495	$2.08	19d	1	1.43mi
500 75th Ave N Saint Petersburg, FL	1.0	1.0	602	$1,195	$1.99	25d	1	1.44mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	18d	1	1.44mi
2807 41st Ave N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,600	$3.56	25d	1	1.44mi
600 76th Ave N Saint Petersburg, FL	1.0–2.0	1.0–1.5	775	$1,449	$1.87	6d	10	1.45mi
8212 11th St N Unit D Saint Petersburg, FL	1.0	1.0	630	$1,200	$1.90	25d	1	1.49mi

HOA detail condo

• Monthly dues: $411 · $4,932/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $64,998 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $64,998 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: $1,129 · $94/mo
• Projected year-2 tax: $1,129 · $94/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $16,573
• − Mortgage interest: −$3,641
• − Property taxes: −$1,129
• − Insurance: −$325
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − HOA: −$4,932
• − Depreciation: −$1,891
• Taxable income: $2,004
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $2,136/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 — Lealman

• Score: 81/100
• State rank: #83
• US rank: #1394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lealman, 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

+124.1% since first listed

7 events — show timeline

• 2026-06-18 Listed $64,998 Stellar MLS as Distributed by MLS Grid
• 2005-04-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-01-27 Listed $49,900 Stellar MLS as Distributed by MLS Grid
• 1996-12-09 Sold (Public Records) $21,000 Public Records
• 1993-05-13 Sold (Public Records) $31,200 Public Records
• 1991-04-19 Sold (Public Records) $28,900 Public Records
• 1986-11-13 Sold (Public Records) $29,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,129 · +4.5% YoY. Source: county tax records.