5900 21st St N #10 · Lealman, FL 33714

$75,000

2 bd · 1.0 ba · 970 sqft · Condo public records · 253 Days on market

Built 1966 $634/mo HOA · 34% of rent

---

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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• 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 MLS

Lovely 2nd floor 2/1, bright and airy, with enclosed back porch. Community pool and ammenities. This is an over 55 complex. No Rentals or pets. Purchase this property for as little as 3% down! This is a Fannie Mae HomePath property.

Key facts

• End unit
• Corner unit
• $634 HOA

Tags

• CORNER UNIT
• END UNIT

Property features AI

Finance

• Other: Third-party listing contact available
• Financial info: Total monthly fees listed as $634; Total annual fees listed as $7,608; Lease restrictions apply
• HOA & community: Has HOA; monthly fee required; HOA includes cable, internet, structure and grounds maintenance, pool, recreational facilities, sewer, trash, and water; Clubhouse and pool on-site; Association approval required; Pets allowed (max 30 lbs)

Exterior

• Parking: Assigned covered parking; 1-car carport
• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; Single-story living; Faces south; Located on second floor of building F
• Construction: Block construction; Shingle roof; Other foundation
• Exterior features: Enclosed patio/porch; Exterior lighting; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: 2 bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Window treatments
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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+, schools F, 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.
• Market conditions: Rents soft (-2.1%/yr); 165 active listings in the ZIP; 39 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).
• At $1,843/mo this rent would consume 47% 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 $519 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

• It's been on market 253 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $34k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $75k implies a 582% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; HOA is 34% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.46% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.18%
• DSCR: 1.50
• GRM: 3.4

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: -6.3%
• Equity multiple: 0.78×
• Total profit: $-4,610
• Equity at exit: $11,183

10-year hold

• IRR: -7.3%
• Equity multiple: 0.67×
• Total profit: $-6,876
• Equity at exit: $6,485

Cash invested: $21,000 (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 33714

• Home prices YoY: -30.9%
• Rents YoY: -2.1%
• Active inventory: 165
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$393
• Tax from tax record: −$202 /mo · $2,421/yr
• Insurance: −$31
• HOA: −$634
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $196

Break-even live

Break-even rent $1,595

Max offer price $75,000

Occupancy floor 84%

Sensitivity live

Price	-10% $238	-5% $217	+0% $196	+5% $174	+10% $153
Rent	-10% $50	-5% $123	+0% $196	+5% $268	+10% $341
Rate	-1.0pp $233	-0.5pp $215	base $196	+0.5pp $176	+1.0pp $156

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 39 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	$1,400	$1.92	25d	2	0.19mi
5920 18th St N #14 Saint Petersburg, FL	2.0	2.0	950	$1,400	$1.47	25d	1	0.21mi
5850 18th St N #23 Saint Petersburg, FL	2.0	2.0	870	$1,400	$1.61	18d	1	0.21mi
2275 62nd Ave N #203 St Petersburg, FL	2.0	2.0	940	$1,975	$2.10	25d	1	0.33mi
5924 15th Way N Saint Petersburg, FL	3.0	2.0	1104	$3,200	$2.90	5d	1	0.47mi
2734 62nd Ave N Apt 3 St. Petersburg, FL	2.0	1.5	833	$1,895	$2.27	25d	1	0.53mi
2715 63rd Ter N Unit B St. Petersburg, FL	2.0	2.0	1030	$1,900	$1.84	25d	1	0.56mi
2600 52nd Ave N Unit B St. Petersburg, FL	2.0	2.0	857	$2,275	$2.65	3d	1	0.65mi
2600 52nd Ave N Unit A St. Petersburg, FL	2.0	2.0	1018	$2,225	$2.19	3d	1	0.65mi
1145 54th Ave N Saint Petersburg, FL	2.0	1.0	810	$1,850	$2.28	25d	1	0.77mi
4660 24th St N Saint Petersburg, FL	3.0	1.0	600	$2,250	$3.75	25d	1	0.80mi
7260 17th Way N Saint Petersburg, FL	3.0	1.0	912	$3,650	$4.00	5d	1	0.86mi
3114 58th Ave N Saint Petersburg, FL	2.0	1.0	800	$1,950	$2.44	4d	1	0.89mi
3132 56th Ave N Saint Petersburg, FL	3.0	2.0	1063	$2,850	$2.68	25d	1	0.91mi
5200 28th St N Unit 628 St. Petersburg, FL	2.0	1.0	872	$2,200	$2.52	25d	1	0.94mi
5200 28th St N Unit 402 St. Petersburg, FL	2.0	2.0	850	$1,995	$2.35	17d	1	0.94mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	4d	1	0.97mi
6910 Dr Martin Luther King Jr St N Saint Petersburg, FL	2.0	1.0	780	$1,850	$2.37	25d	1	1.10mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	24d	1	1.17mi
4104 1/2 Haines Rd N Unit 1 St. Petersburg, FL	2.0	1.0	1000	$1,850	$1.85	25d	1	1.26mi
3584 54th Ave N Saint Petersburg, FL	3.0	1.0	1012	$1,950	$1.93	5d	1	1.28mi
5519 Commonwealth Ave N Saint Petersburg, FL	2.0	1.0	852	$2,900	$3.40	5d	1	1.28mi
2519 39th Ave N Saint Petersburg, FL	3.0	2.0	1005	$2,750	$2.74	25d	1	1.31mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	25d	1	1.33mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	3d	1	1.33mi
3580 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	4d	1	1.36mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	14d	1	1.37mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	12d	1	1.37mi
3600 49th Ave N Saint Petersburg, FL	1.0–2.0	1.0	680	$1,600	$2.35	4d	8	1.37mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	14d	1	1.37mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	17d	1	1.39mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	8d	2	1.39mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	25d	1	1.40mi
426 Palm Ave N Unit 9 St. Petersburg, FL	2.0	1.0	850	$1,500	$1.76	25d	1	1.41mi
4129 32nd St N Unit B St. Petersburg, FL	3.0	1.0	1000	$2,150	$2.15	25d	1	1.41mi
3715 66th Ave N Unit B Pinellas Park, FL	2.0	1.0	750	$1,475	$1.97	22d	1	1.42mi
1001 77th Ave N #308 Saint Petersburg, FL	1.0	1.0	650	$1,325	$2.04	5d	1	1.48mi
440 50th Ave N Saint Petersburg, FL	1.0	1.0	825	$2,100	$2.55	25d	1	1.49mi
547 46th Ave N Saint Petersburg, FL	2.0	1.0	837	$2,000	$2.39	8d	1	1.49mi

HOA detail condo

• Monthly dues: $634 · $7,608/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $75,000 Active 253 DOM
2. 2026-06-17
   days on market $75,000 Active 252 DOM
3. 2026-06-16
   days on market $75,000 Active 251 DOM
4. 2026-06-15
   days on market $75,000 Active 250 DOM
5. 2026-06-13
   days on market $75,000 Active 248 DOM
6. 2026-06-09
   days on market $75,000 Active 244 DOM
7. 2026-06-08
   days on market $75,000 Active 243 DOM
8. 2026-06-07
   days on market $75,000 Active 242 DOM
9. 2026-06-04
   days on market $75,000 Active 239 DOM
10. 2026-06-03
    days on market $75,000 Active 238 DOM
11. 2026-06-01
    days on market $75,000 Active 236 DOM
12. 2026-05-31
    days on market $75,000 Active 235 DOM
13. 2026-02-21
    price $75,000
14. 2026-01-01
    price $95,000
15. 2025-10-08
    listed $109,000 Active
16. 2011-03-08
    soldstatus $11,000 232-char remark

    Show marketing remark (232 chars)

    Lovely 2nd floor 2/1, bright and airy, with enclosed back porch. Community pool and ammenities. This is an over 55 complex. No Rentals or pets. Purchase this property for as little as 3% down! This is a Fannie Mae HomePath property.

17. 2011-01-06
    listed $12,900 232-char remark

    Show marketing remark (232 chars)

    Lovely 2nd floor 2/1, bright and airy, with enclosed back porch. Community pool and ammenities. This is an over 55 complex. No Rentals or pets. Purchase this property for as little as 3% down! This is a Fannie Mae HomePath property.

18. 2010-12-27
    listed $19,900
19. 2010-11-23
    listed $19,900
20. 2010-05-25
    listed $29,900
21. 2008-05-27
    soldstatus $71,000
22. 2007-01-03
    soldstatus $59,000
23. 1986-04-01
    soldstatus $40,000

ⓘ 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: $2,421 · $202/mo
• Projected year-2 tax: $2,421 · $202/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) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $22,116
• − Mortgage interest: −$4,201
• − Property taxes: −$2,421
• − Insurance: −$375
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − HOA: −$7,608
• − Depreciation: −$2,182
• Taxable income: $1,790
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $1,918/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

+87.5% since first listed

11 events — show timeline

• 2026-02-21 Price Changed $75,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-01 Price Changed $95,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-08 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 2011-03-08 Sold (MLS) $11,000 Stellar MLS as Distributed by MLS Grid
• 2011-01-06 Listed $12,900 Stellar MLS as Distributed by MLS Grid
• 2010-12-27 Listed $19,900 Stellar MLS as Distributed by MLS Grid
• 2010-11-23 Listed $19,900 Stellar MLS as Distributed by MLS Grid
• 2010-05-25 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 2008-05-27 Sold (Public Records) $71,000 Public Records
• 2007-01-03 Sold (Public Records) $59,000 Public Records
• 1986-04-01 Sold (Public Records) $40,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $2,421 · +3776.1% YoY. Source: county tax records.