2011 58th Ave N #5 · Lealman, FL 33714

$79,000

2 bd · 1.0 ba · 870 sqft · Condo public records · 79 Days on market

Built 1966 $639/mo HOA · 35% 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 +29.0/30.0
• 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

NEW PRICE! Reduced to cover kitchen updates! Cute 2 bedroom 1 bath 1st floor Condo in the wonderful Town Apartments North 55+ Community in St. Pete. This condo has beautiful new vinly flooring, and fresh paint throughout. Updated bathroom and large bright Florida Room in back along with a reserved parking space. 1st floor unit makes it for easy walk in with groceries, and packages. Located near the back of the complex makes for a quiet and peaceful spot! Short walk out back to your designated parking spot and to laundry room (each building has its own laundry). There is also a community storage space. Monthly maintenance fee of $639 includes water & sewer, gas , cable, trash removal

Key facts

• Large library
• Owners meeting room
• Florida room

Tags

• FLORIDA ROOM
• RESERVED PARKING SPACE
• HEATED SWIMMING POOL
• RECREATION CENTER
• OWNERS MEETING ROOM
• LARGE LIBRARY

Property features AI

Finance

• Other: Community features include clubhouse, community mailbox, pool, and sidewalks; Directions: From 16th St N to 62nd Ave N west to entrance (there are two entrances in)
• Financial info: Total annual HOA fees $7,668; Lease restrictions apply
• HOA & community: Monthly HOA fee of $639; HOA includes cable TV, pool, escrow reserves, gas, insurance, structure and grounds maintenance, management, private road maintenance, recreational facilities, sewer, trash, and water; Association amenities: Clubhouse, Laundry, Maintenance, Pool, Recreation facilities, Shuffleboard court; Association approval required; Senior community; Pets not allowed; Buyer approval required for community

Exterior

• Parking: Private maintained road access; Asphalt road surface
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Sewer connected; Water connected
• Home design: Residential condominium; Second-floor building with units on one level; South-facing
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a multi-unit building (building #5)
• Exterior features: Sidewalk; Storage; Gunite in-ground pool

Interior

• Kitchen: Cooktop; Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Thermostat; Blinds
• Laundry & utility: Laundry in building / community laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $74k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,842/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 $546 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 79 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $79k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 35% 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 $74,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.33% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 3.6

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-568
• Equity at exit: $11,779

10-year hold

• IRR: 2.1%
• Equity multiple: 1.11×
• Total profit: $2,515
• Equity at exit: $6,830

Cash invested: $22,120 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$639
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $270

Break-even live

Break-even rent $1,500

Max offer price $79,000

Occupancy floor 80%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	24d	2	0.15mi
5920 18th St N #14 Saint Petersburg, FL	2.0	2.0	950	$1,400	$1.47	24d	1	0.19mi
5850 18th St N #23 Saint Petersburg, FL	2.0	2.0	870	$1,400	$1.61	17d	1	0.20mi
5924 15th Way N Saint Petersburg, FL	3.0	2.0	1104	$3,200	$2.90	4d	1	0.41mi
2275 62nd Ave N #203 St Petersburg, FL	2.0	2.0	940	$1,975	$2.10	24d	1	0.42mi
2734 62nd Ave N Apt 3 St. Petersburg, FL	2.0	1.5	833	$1,895	$2.27	24d	1	0.61mi
2600 52nd Ave N Unit B St. Petersburg, FL	2.0	2.0	857	$2,275	$2.65	2d	1	0.64mi
2600 52nd Ave N Unit A St. Petersburg, FL	2.0	2.0	1018	$2,225	$2.19	2d	1	0.64mi
2715 63rd Ter N Unit B St. Petersburg, FL	2.0	2.0	1030	$1,900	$1.84	24d	1	0.65mi
1145 54th Ave N Saint Petersburg, FL	2.0	1.0	810	$1,850	$2.28	24d	1	0.69mi
4660 24th St N Saint Petersburg, FL	3.0	1.0	600	$2,250	$3.75	24d	1	0.76mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	3d	1	0.88mi
7260 17th Way N Saint Petersburg, FL	3.0	1.0	912	$3,650	$4.00	4d	1	0.91mi
3114 58th Ave N Saint Petersburg, FL	2.0	1.0	800	$1,950	$2.44	3d	1	0.95mi
5200 28th St N Unit 628 St. Petersburg, FL	2.0	1.0	872	$2,200	$2.52	24d	1	0.96mi
5200 28th St N Unit 402 St. Petersburg, FL	2.0	2.0	850	$1,995	$2.35	16d	1	0.96mi
3132 56th Ave N Saint Petersburg, FL	3.0	2.0	1063	$2,850	$2.68	24d	1	0.96mi
6910 Dr Martin Luther King Jr St N Saint Petersburg, FL	2.0	1.0	780	$1,850	$2.37	24d	1	1.09mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	23d	1	1.12mi
4104 1/2 Haines Rd N Unit 1 St. Petersburg, FL	2.0	1.0	1000	$1,850	$1.85	24d	1	1.17mi
5519 Commonwealth Ave N Saint Petersburg, FL	2.0	1.0	852	$2,900	$3.40	4d	1	1.21mi
2519 39th Ave N Saint Petersburg, FL	3.0	2.0	1005	$2,750	$2.74	24d	1	1.26mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	24d	1	1.29mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	2d	1	1.29mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	7d	2	1.31mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	16d	1	1.31mi
3584 54th Ave N Saint Petersburg, FL	3.0	1.0	1012	$1,950	$1.93	4d	1	1.32mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	24d	1	1.33mi
426 Palm Ave N Unit 9 St. Petersburg, FL	2.0	1.0	850	$1,500	$1.76	24d	1	1.33mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	13d	1	1.36mi
3580 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	3d	1	1.38mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	13d	1	1.39mi
3560 49th Ave N St. Petersburg, FL	2.0	1.0	790	$1,425	$1.80	11d	1	1.39mi
3600 49th Ave N Saint Petersburg, FL	1.0–2.0	1.0	680	$1,600	$2.35	3d	8	1.39mi
4129 32nd St N Unit B St. Petersburg, FL	3.0	1.0	1000	$2,150	$2.15	24d	1	1.40mi
440 50th Ave N Saint Petersburg, FL	1.0	1.0	825	$2,100	$2.55	24d	1	1.40mi
547 46th Ave N Saint Petersburg, FL	2.0	1.0	837	$2,000	$2.39	7d	1	1.40mi
220 Southeast Blvd N St. Petersburg, FL	2.0	1.0	850	$2,000	$2.35	16d	1	1.46mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$3,323	$3.44	2d	13	1.46mi
3700 Haines Rd N St Petersburg, FL	1.0–2.0	1.0	675	$1,950	$2.89	14d	2	1.46mi

HOA detail condo

• Monthly dues: $639 · $7,668/yr
• Likely covers: watersewertrashgascable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $79,000 Active 79 DOM
2. 2026-06-17
   days on market $79,000 Active 78 DOM
3. 2026-06-16
   days on market $79,000 Active 77 DOM
4. 2026-06-15
   days on market $79,000 Active 76 DOM
5. 2026-06-13
   days on market $79,000 Active 74 DOM
6. 2026-06-09
   days on market $79,000 Active 70 DOM
7. 2026-06-08
   days on market $79,000 Active 69 DOM
8. 2026-06-07
   days on market $79,000 Active 68 DOM
9. 2026-06-04
   days on market $79,000 Active 65 DOM
10. 2026-06-03
    days on market $79,000 Active 64 DOM
11. 2026-06-01
    days on market $79,000 Active 62 DOM
12. 2026-05-31
    days on market $79,000 Active 61 DOM
13. 2026-05-04
    price $82,000
14. 2026-04-12
    price $85,000
15. 2026-03-31
    listed $89,000 Active
16. 2003-05-05
    soldstatus $37,900
17. 2001-03-19
    soldstatus $28,000
18. 1986-10-02
    soldstatus $35,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 16% 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: $22,104
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − HOA: −$7,668
• − Depreciation: −$2,298
• Taxable income: $2,596
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $2,620/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

+129.7% since first listed

6 events — show timeline

• 2026-05-04 Price Changed $82,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2003-05-05 Sold (Public Records) $37,900 Public Records
• 2001-03-19 Sold (Public Records) $28,000 Public Records
• 1986-10-02 Sold (Public Records) $35,700 Public Records

Property tax history

-14.1%/yr

Latest (2025): $67 · +7.0% YoY. Source: county tax records.