5460 Lemon Tree Ln N · Pinellas Park, FL 33782

$139,900

2 bd · 2.0 ba · 1,440 sqft · Condo public records · 1 Days on market

Built 1972 $383/mo HOA · 18% 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 +18.2/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

Key facts

• 4,000 sq ft lot
• Garage
• Built 1972

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 7.4% vs local median 4.0% in Pinellas Park — 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 78/100 on livability (#170 in FL, #2,546 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools D-, amenities 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 falling (-5.3%/yr); 200 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 38% of the median local income ($66k/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 $967 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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: property tax is 2.9% of price.
• 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 $139,900

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.49% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• GRM: 5.6

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: -15.2%
• Equity multiple: 0.48×
• Total profit: $-20,379
• Equity at exit: $20,860

10-year hold

• IRR: -17.3%
• Equity multiple: 0.25×
• Total profit: $-29,475
• Equity at exit: $12,096

Cash invested: $39,172 (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 33782

• Rents YoY: -5.3%
• Active inventory: 200
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$734
• Tax from tax record: −$342 /mo · $4,105/yr
• Insurance: −$58
• HOA: −$383
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $126

Break-even live

Break-even rent $1,920

Max offer price $139,900

Occupancy floor 89%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10770 US Highway 19 N #605 Pinellas Park, FL	2.0	2.0	1000	$1,800	$1.80	24d	1	0.33mi
5358 97th Ter N Pinellas Park, FL	3.0	2.0	1158	$2,360	$2.04	4d	1	0.34mi
5641 94th Ter N Pinellas Park, FL	3.0	2.0	1066	$2,200	$2.06	8d	1	0.40mi
5501 110th Ave N Pinellas Park, FL	1.0–3.0	1.0–2.0	1001	$1,958	$1.96	2d	12	0.53mi
6132 100th Cir N Pinellas Park, FL	3.0	1.0	901	$1,995	$2.21	24d	1	0.65mi
5691 92nd Ave N Pinellas Park, FL	3.0	2.0	1152	$2,300	$2.00	4d	1	0.66mi
5865 92nd Ave N Pinellas Park, FL	3.0	2.0	1062	$2,400	$2.26	18d	1	0.72mi
9505 49th St N Pinellas Park, FL	1.0–3.0	1.0–2.0	1049	$2,297	$2.19	2d	19	0.72mi
5561 90th Ave N Pinellas Park, FL	3.0	2.0	1379	$2,385	$1.73	4d	1	0.76mi
4973 91st Ave Unit 12 (C) Pinellas Park, FL	2.0	2.0	875	$1,475	$1.69	15d	1	0.80mi
4973 91st Ave Unit C Pinellas Park, FL	2.0	2.0	875	$1,475	$1.69	14d	1	0.80mi
5577 89th Ave N Pinellas Park, FL	3.0	1.0	1340	$2,170	$1.62	4d	1	0.80mi
4420 96th Ave N Pinellas Park, FL	2.0	2.0	1586	$1,850	$1.17	4d	1	0.99mi
4701 88th Ave N Pinellas Park, FL	1.0–2.0	1.0–2.0	855	$1,853	$2.17	11d	20	1.09mi
6388 93rd Ter Pinellas Park, FL	2.0	2.0	1245	$2,095	$1.68	14d	1	1.11mi
8851 US Highway 19 N Pinellas Park, FL	1.0–3.0	1.0–2.0	993	$2,295	$2.31	2d	23	1.40mi

HOA detail condo

• Monthly dues: $383 · $4,596/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2025-08-05
   status Pending
2. 2025-08-04
   listed $139,900 Active
3. 2020-11-03
   soldstatus $171,900
4. 2020-11-02
   soldstatus $171,900 Sold 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

5. 2020-09-10
   status Pending 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

6. 2020-08-17
   status Active 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

7. 2020-07-31
   status Pending 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

8. 2020-07-15
   price $169,900 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

9. 2020-07-15
   price $169,000 620-char remark

   Show marketing remark (620 chars)

   Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

10. 2020-07-15
    status Active 620-char remark

    Show marketing remark (620 chars)

    Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

11. 2020-05-27
    listed $180,000 Active 620-char remark

    Show marketing remark (620 chars)

    Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

12. 2020-05-27
    historical 620-char remark

    Show marketing remark (620 chars)

    Own one of the largest Single Family Residences in Springwood with all the conveniences of a Condo/Villa! This FURNISHED and spacious home has an open floor plan, two bedrooms, two full baths, formal dining room, large eat in kitchen, and a bonus room! Plenty of storage space in the oversized closets or in your attached garage. Enjoy peace and quiet in this active 55+ community. The clubhouse and community features a heated pool, kitchen, work out room, reading room, auditorium with stage, reading area, cards, ping pong, and billiards. Easy access to beaches, downtown, and airports. Schedule a private tour today.

13. 2010-04-12
    soldstatus $89,000
14. 2001-08-30
    soldstatus $73,500
15. 1998-11-12
    soldstatus $60,500

ⓘ 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: $4,105 · $342/mo
• Projected year-2 tax: $4,105 · $342/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 ≥107°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,955
• − Mortgage interest: −$7,837
• − Property taxes: −$4,105
• − Insurance: −$700
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − HOA: −$4,596
• − Depreciation: −$4,070
• Taxable loss: −$344
• Est. tax savings @ 24.0%: +$83
• After-tax cash flow: $1,593/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 — Pinellas Park

• Score: 78/100
• State rank: #170
• US rank: #2546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pinellas Park, FL
• County: Pinellas County · 939,478 people
• City population: 50,533
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 22,461
• Household income: $66,461
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 486.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 12% Asian 12% Two or more races 8% Black 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 9% Vietnamese 7% Other Indo-European 2%

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: ▼ -250.17%
• Current HPI: 314.1689
• Rent YoY: ▼ -5.28%
• 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

+131.2% since first listed

15 events — show timeline

• 2025-08-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-04 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2020-11-03 Sold (Public Records) $171,900 Public Records
• 2020-11-02 Sold (MLS) $171,900 Stellar MLS as Distributed by MLS Grid
• 2020-09-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-08-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-07-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-07-15 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2020-07-15 Price Changed $169,000 Stellar MLS as Distributed by MLS Grid
• 2020-07-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-05-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-05-27 Listed $180,000 Stellar MLS as Distributed by MLS Grid
• 2010-04-12 Sold (Public Records) $89,000 Public Records
• 2001-08-30 Sold (Public Records) $73,500 Public Records
• 1998-11-12 Sold (Public Records) $60,500 Public Records

Property tax history

+8.6%/yr

Latest (2025): $4,105 · -10.1% YoY. Source: county tax records.