5810 21st St N #15 · Lealman, FL 33714

$78,500

1 bd · 1.0 ba · 560 sqft · Condo public records · 314 Days on market

Built 1966 $445/mo HOA · 32% of rent

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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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• 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

Welcome to the Town Apts community located in X zone, which is presently NOT A FLOOD ZONE. This unit tucked in the west END OF THE COMPLEX, on the second floor, 2nd from the mid stairway features DOUBLE-PANE WINDOWS, UPDATED kitchen cabinets, FLORIDA ROOM in the back, CENTRALLY AIR-CONDITIONED Florida room in addition to all other rooms, gas stove, laminate and ceramic tile flooring, CARPORT, and more. The room sizes are approximate, and Florida room might be additional square footage not reflecting in total square footage in the public records; buyer is advised to measure all and verify. The LOW MONTHLY FEE in the amount of $430 includes presently water/sewer, trash removal, basic CABLE, I

Key facts

• Laminate flooring
• Carport
• Gas stove

Tags

• UPDATED KITCHEN CABINETS
• GAS STOVE
• LAMINATE FLOORING
• CERAMIC TILE FLOORING
• CARPORT
• LAUNDRY FACILITY ROOM

Property features AI

Finance

• Other: Condo land included; Common-area pool (gunite, heated, in-ground)
• HOA & community: HOA with monthly condo fee ($445); Association amenities include clubhouse, pool, laundry, security, shuffleboard court and storage; Association fee covers pool, electricity, gas, sewer, water, trash, grounds maintenance and escrow reserves; Senior community; buyer approval required; pets not allowed; Total annual fees approximately $5,340

Exterior

• Parking: Assigned parking; Guest parking; Carport (1 space)
• Security: Community security
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Sewer connected; Water connected
• Home design: Condominium; Residential property; One story; Faces north; Building I
• Construction: Block and other construction materials; Shingle roof; Slab foundation; Built as part of a multi-unit building
• Exterior features: Awnings; Rain gutters; Sidewalk; Storage; Landscaped grounds with mature trees; Near public transit; Unincorporated area; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Dining area (L-shaped); Double-pane windows; Smoke detectors
• Laundry & utility: On-site common laundry room; Laundry room with outside access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $78k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $543 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 314 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $78k implies a 461% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $69,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 314 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.78% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 4.7

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: -7.2%
• Equity multiple: 0.75×
• Total profit: $-5,575
• Equity at exit: $11,705

10-year hold

• IRR: -4.8%
• Equity multiple: 0.75×
• Total profit: $-5,504
• Equity at exit: $6,787

Cash invested: $21,980 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$412
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$33
• HOA: −$445
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $173

Break-even live

Break-even rent $1,182

Max offer price $78,500

Occupancy floor 83%

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: $19,625
• Closing costs: $2,355
• 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	24d	2	0.21mi
3109 54th Ave N Saint Petersburg, FL	1.0	1.0	400	$1,025	$2.56	21d	1	0.89mi
3109 54th Ave N Unit 1/2 St. Petersburg, FL	1.0	1.0	400	$1,025	$2.56	17d	1	0.89mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	3d	1	0.90mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	23d	1	1.18mi
2807 41st Ave N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,600	$3.56	24d	1	1.23mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	13d	1	1.32mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	16d	1	1.32mi
3600 49th Ave N Saint Petersburg, FL	1.0–2.0	1.0	680	$1,150	$1.69	3d	8	1.34mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	24d	1	1.35mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	2d	1	1.35mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	7d	2	1.37mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	24d	1	1.39mi
3791 58th Ave N Unit 3 St. Petersburg, FL	1.0	1.0	500	$1,430	$2.86	17d	1	1.40mi
3715 66th Ave N Unit B Pinellas Park, FL	2.0	1.0	750	$1,475	$1.97	21d	1	1.45mi
2730 37th Ave N Unit B St. Petersburg, FL	1.0	1.0	560	$1,590	$2.84	24d	1	1.46mi
3700 Haines Rd N St Petersburg, FL	1.0–2.0	1.0	675	$1,700	$2.52	14d	2	1.49mi

HOA detail condo

• Monthly dues: $445 · $5,340/yr
• Likely covers: watersewertrashgascable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $78,500 Active 314 DOM
2. 2026-06-17
   days on market $78,500 Active 313 DOM
3. 2026-06-16
   days on market $78,500 Active 312 DOM
4. 2026-06-15
   days on market $78,500 Active 311 DOM
5. 2026-06-13
   days on market $78,500 Active 309 DOM
6. 2026-06-09
   days on market $78,500 Active 305 DOM
7. 2026-06-08
   days on market $78,500 Active 304 DOM
8. 2026-06-07
   days on market $78,500 Active 303 DOM
9. 2026-06-04
   days on market $78,500 Active 300 DOM
10. 2026-06-03
    days on market $78,500 Active 299 DOM
11. 2026-06-01
    days on market $78,500 Active 297 DOM
12. 2026-05-31
    days on market $78,500 Active 296 DOM
13. 2026-02-01
    status Active
14. 2026-01-31
    historical
15. 2026-01-01
    status Active
16. 2025-12-30
    historical
17. 2025-11-13
    price $78,500
18. 2025-10-31
    status Active
19. 2025-10-30
    historical
20. 2025-08-05
    listed $89,000 Active
21. 2021-05-04
    price $99,500
22. 2021-05-04
    price $85,000
23. 2019-06-19
    price $66,900
24. 2019-01-29
    listed $55,300 Active
25. 2017-01-05
    historical
26. 2016-12-10
    listed $34,995 Active
27. 2016-08-31
    historical
28. 2016-02-22
    listed $35,000 Active
29. 2015-12-15
    historical
30. 2015-07-10
    price $35,000
31. 2015-06-16
    price $33,000
32. 2015-02-11
    listed $29,900 Active
33. 1998-04-03
    soldstatus $14,000

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $652 · $54/mo
• Expected delta: +$118/yr (+$10/mo · 22.1%)

ⓘ 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) · 22% 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: $16,805
• − Mortgage interest: −$4,397
• − Property taxes: −$534
• − Insurance: −$392
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − HOA: −$5,340
• − Depreciation: −$2,284
• Taxable income: $1,170
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $1,790/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

+460.7% since first listed

21 events — show timeline

• 2026-02-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $78,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-31 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-10-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-05 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2021-05-04 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2021-05-04 Price Changed $99,500 Stellar MLS as Distributed by MLS Grid
• 2019-06-19 Price Changed $66,900 Stellar MLS as Distributed by MLS Grid
• 2019-01-29 Listed $55,300 Stellar MLS as Distributed by MLS Grid
• 2017-01-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-12-10 Listed $34,995 Stellar MLS as Distributed by MLS Grid
• 2016-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-02-22 Listed $35,000 Stellar MLS as Distributed by MLS Grid
• 2015-12-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-07-10 Price Changed $35,000 Stellar MLS as Distributed by MLS Grid
• 2015-06-16 Price Changed $33,000 Stellar MLS as Distributed by MLS Grid
• 2015-02-11 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 1998-04-03 Sold (Public Records) $14,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $534 · -2.5% YoY. Source: county tax records.