421 10th Ave N · St. Petersburg, FL 33701

$925,000

8 bd · 4.0 ba · 2,403 sqft · MultiFamily public records · 516 Days on market

Built 1922 4,800 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 +15.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.3/10.0
• 1% rule +3.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Under contract-accepting backup offers. Desirable location! Welcome to Osceola apartments. Built in 1925 this multi family property located in the beautiful Historic Uptown neighborhood features a total of 6 income apartments. NOT in flood zone. NO HOA. The front building is home to four units; the two up stairs units at 600 sq ft are two bedrooms one bath apartments include a back screened porch and the two ground level 550 sq ft units are 1 bedroom and 1 bath, with a screened front porches and screened back porches. The second building has 2 floors, the ground level unit offers a 1 bedroom with 1 bath and the second level includes a 800 sq ft two bedroom one bathroom apartment and a garag

Key facts

• Shared courtyard
• 4,800 sq ft lot
• Garage

Tags

• MULTI-FAMILY PROPERTY
• ORIGINAL HARDWOOD FLOORING
• SHARED COURTYARD

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive. Per door: $104/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $811k (12.3% below list).
• Recommended offer: $811k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.6% in St. Petersburg — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Woodlawn Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 267 students, 73% FRL); St. Petersburg High School (math 31% / reading 61%, grade D-, #220 of 667 statewide, top 33%, 1,723 students, 39% FRL).
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-14 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.6%/yr); 345 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $8,108/mo this rent would consume 132% of the median local household income ($74k/yr) (locally 2230% 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 $6k of loan paydown is wiped out by about $28k 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 516 days — a 12% lower offer ($814k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $810,800 (12.3% below list)

Questions for the listing agent

1. It's been on market 516 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 9.5

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: -16.5%
• Equity multiple: 0.43×
• Total profit: $-147,339
• Equity at exit: $137,921

10-year hold

• IRR: -14.4%
• Equity multiple: 0.28×
• Total profit: $-186,594
• Equity at exit: $79,977

Cash invested: $259,000 (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 33701

• Rents YoY: -3.6%
• Active inventory: 345
• Price-to-rent: 38.0×

Monthly cashflow live

• Estimated rent: $8,108 high
• Mortgage (P&I): −$4,851
• Tax from tax record: −$754 /mo · $9,048/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,703
• Net cashflow: $415

Break-even live

Break-even rent $7,583

Max offer price $925,000

Occupancy floor 90%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$8,108
Total (4 units)			$8,108

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-17
   status Pending
2. 2024-07-23
   listed $925,000 Active
3. 2024-01-29
   status Pending
4. 2024-01-18
   price $995,000
5. 2023-10-26
   status Active
6. 2023-04-05
   status Pending
7. 2023-04-05
   price $1,025,000
8. 2023-03-27
   price $800,000
9. 2023-03-26
   listed $700,000 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: $9,048 · $754/mo
• Projected year-2 tax: $9,048 · $754/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,296
• − Mortgage interest: −$51,814
• − Property taxes: −$9,048
• − Insurance: −$4,625
• − Repairs & maintenance: −$7,784
• − Management: −$7,784
• − Depreciation: −$26,909
• Taxable loss: −$10,668
• Est. tax savings @ 24.0%: +$2,560
• After-tax cash flow: $7,541/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 — St. Petersburg

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Petersburg, FL
• County: Pinellas County · 939,478 people
• City population: 249,151
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 18,823
• Household income: $73,542
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2230.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 10% Black 10% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -425.52%
• Current HPI: 486.3846
• Rent YoY: ▼ -3.56%
• 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

+32.1% since first listed

9 events — show timeline

• 2026-03-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-07-23 Listed $925,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-01-18 Price Changed $995,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-04-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-04-05 Price Changed $1,025,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-27 Price Changed $800,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-26 Listed $700,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2025): $9,048 · +12.4% YoY. Source: county tax records.