7777 46th Ave N #74 · West Lealman, FL 33709

$109,900

2 bd · 2.0 ba · 1,008 sqft · Manufactured public records · 68 Days on market

Built 1983 11 ac lot Est $90k · 23% over $300/mo HOA · 15% of rent ↓ 25% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Inviting & Spacious 2 bedroom, 2 bath, Split plan Doublewide, with Sunny Florida Room to enjoy! Located on private perimeter, with wonderful spacious backyard, to relax & entertain. All light & bright, spacious interior, just waiting for you to arrive and enjoy! Updated Double Roof Over 5/21, along with new insulated vapor barrier, under home. Impressive large kitchen, ready for your fun parties! This 5 Star, 55+ Resident Owned, Fun & Active Lake Rich Pool Community, is only minutes to the beaches, shopping, bike trails, airports, VA Medical, golf courses, and all you would want! Cash only! Asking only $145,900, includes the share! Low $300. per mo. maintenance fee, covers your water, garbage, sewer, yard, cable tv, and internet. Say Hello to your new lifestyle of relaxation & Recreation.

Key facts

• Move-in ready
• 11.19 acre lot
• Built 1983

Tags

• MOVE-IN READY
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 1.8% in West 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 (#84 in FL, #1,396 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, employment 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 flat; 309 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% of the median local income ($54k/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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.81% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.45%
• DSCR: 1.87
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $89,712
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7777 46th Ave N #36	0.00mi	2/2.0	960 (-5%)	1mo	$50,000	$52	91
7777 46th Ave N #33	0.00mi	2/2.0	960 (-5%)	6mo	$95,000	$99	87
5254 Yellow Pine St N	0.41mi	3/1.5 (+1)	1,056 (+5%)	11mo	$149,000	$141	56
5131 81st St N	0.43mi	2/2.0	960 (-5%)	20mo	$85,000	$89	55
4173 72nd St N #30	0.58mi	2/2.0	912 (-10%)	4mo	$68,000	$75	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.99% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.33×
• Total profit: $10,231
• Equity at exit: $16,386

10-year hold

• IRR: 15.8%
• Equity multiple: 2.14×
• Total profit: $35,164
• Equity at exit: $9,502

Cash invested: $30,772 (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 33709

• Rents YoY: 1.0%
• Active inventory: 309
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$576
• Tax from tax record: −$151 /mo · $1,815/yr
• Insurance: −$46
• HOA: −$300
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $499

Break-even live

Break-even rent $1,359

Max offer price $109,900

Occupancy floor 70%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4653 78th Ln N St Petersburg, FL	3.0	2.0	1312	$2,695	$2.05	24d	1	0.03mi
8002 48th Ave N Saint Petersburg, FL	1.0	1.0	1050	$2,000	$1.90	3d	1	0.21mi
5217 81st St N #22 Saint Petersburg, FL	2.0	1.0	1010	$1,700	$1.68	24d	1	0.42mi
5287 81st St N #26 Saint Petersburg, FL	2.0	2.0	1010	$1,500	$1.49	4d	1	0.48mi
5357 81st St N #14 Saint Petersburg, FL	2.0	2.0	1110	$1,550	$1.40	24d	1	0.49mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	0.51mi
4930 72nd St N Saint Petersburg, FL	2.0	1.0	1352	$1,950	$1.44	4d	1	0.53mi
5521 80th St N #312 Saint Petersburg, FL	1.0	1.0	1055	$1,500	$1.42	4d	1	0.56mi
3855 39th Ave N St Petersburg, FL	2.0	2.5	1100	$1,850	$1.68	22d	1	0.58mi
5530 80th St N Unit C204 Saint Petersburg, FL	1.0	1.0	880	$1,450	$1.65	24d	1	0.61mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.65mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.65mi
5725 80th St N #210 Saint Petersburg, FL	2.0	2.0	1125	$1,900	$1.69	24d	1	0.73mi
3451 79th St N Saint Petersburg, FL	2.0	2.0	1150	$2,500	$2.17	24d	1	0.74mi
5750 80th St N St Petersburg, FL	1.0–2.0	1.0–1.5	987	$1,800	$1.82	24d	2	0.74mi
7249 Parkside Villas Dr N Saint Petersburg, FL	2.0	2.0	956	$1,950	$2.04	24d	1	0.75mi
3501 Boca Ciega Dr N Saint Petersburg, FL	2.0	2.0	1144	$3,400	$2.97	4d	1	0.77mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	0.78mi
7238 55th Ave N Saint Petersburg, FL	2.0	2.0	1085	$1,899	$1.75	18d	1	0.78mi
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	24d	1	0.82mi
7140 55th Ave N Saint Petersburg, FL	3.0	2.0	1085	$2,000	$1.84	22d	1	0.84mi
5980 80th St N #205 St Petersburg, FL	2.0	2.0	1100	$1,950	$1.77	4d	1	0.85mi
5410 70th Way N Saint Petersburg, FL	3.0	1.0	1354	$2,100	$1.55	3d	1	0.88mi
5410 70th Way N Saint Petersburg, FL	3.0	1.0	1160	$2,100	$1.81	4d	1	0.88mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	0.91mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	0.92mi
5136 68th St N Unit B St. Petersburg, FL	3.0	1.0	1302	$1,900	$1.46	4d	1	0.92mi
9071 47th Ave N St. Petersburg, FL	2.0	2.0	1100	$2,000	$1.82	24d	1	1.20mi
3000 70th Ln N Saint Petersburg, FL	2.0	1.0	875	$1,600	$1.83	22d	1	1.20mi
8086 28th Ave N Saint Petersburg, FL	2.0	1.0	848	$2,200	$2.59	24d	1	1.21mi
6366 71st St N Pinellas Park, FL	2.0	2.0	970	$2,200	$2.27	24d	1	1.23mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,595	$1.93	7d	1	1.24mi
6468 Bonnie Bay Cir N Pinellas Park, FL	2.0	2.0	970	$1,800	$1.86	14d	1	1.25mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	1.28mi
6398 Woodland Blvd Unit 1366035P Pinellas Park, FL	3.0	2.0	1367	$5,922	$4.33	16d	1	1.28mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	1.32mi
2500 Park St N Saint Petersburg, FL	2.0	1.0	1022	$2,700	$2.64	24d	1	1.37mi
8036 25th Ave N Saint Petersburg, FL	3.0	2.0	1250	$2,600	$2.08	4d	1	1.37mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	3d	6	1.41mi
2413 Park St N Saint Petersburg, FL	2.0	1.0	1006	$2,339	$2.33	3d	1	1.42mi

HOA detail

• Monthly dues: $300 · $3,600/yr
• Likely covers: watersewertrashinternetcablepool

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-04-16
   price $109,900
3. 2026-03-15
   price $114,900
4. 2026-02-13
   listed $119,000 Active
5. 2025-02-05
   soldstatus $145,000 Closed 830-char remark

   Show marketing remark (830 chars)

   Inviting & Spacious 2 bedroom, 2 bath, Split plan Doublewide, with Sunny Florida Room to enjoy! Located on private perimeter, with wonderful spacious backyard, to relax & entertain. All light & bright, spacious interior, just waiting for you to arrive and enjoy! Updated Double Roof Over 5/21, along with new insulated vapor barrier, under home. Impressive large kitchen, ready for your fun parties! This 5 Star, 55+ Resident Owned, Fun & Active Lake Rich Pool Community, is only minutes to the beaches, shopping, bike trails, airports, VA Medical, golf courses, and all you would want! Cash only! Asking only $145,900, includes the share! Low $300. per mo. maintenance fee, covers your water, garbage, sewer, yard, cable tv, and internet. Say Hello to your new lifestyle of relaxation & Recreation.

6. 2025-01-10
   status Pending 830-char remark

   Show marketing remark (830 chars)

   Inviting & Spacious 2 bedroom, 2 bath, Split plan Doublewide, with Sunny Florida Room to enjoy! Located on private perimeter, with wonderful spacious backyard, to relax & entertain. All light & bright, spacious interior, just waiting for you to arrive and enjoy! Updated Double Roof Over 5/21, along with new insulated vapor barrier, under home. Impressive large kitchen, ready for your fun parties! This 5 Star, 55+ Resident Owned, Fun & Active Lake Rich Pool Community, is only minutes to the beaches, shopping, bike trails, airports, VA Medical, golf courses, and all you would want! Cash only! Asking only $145,900, includes the share! Low $300. per mo. maintenance fee, covers your water, garbage, sewer, yard, cable tv, and internet. Say Hello to your new lifestyle of relaxation & Recreation.

7. 2024-12-15
   listed $145,900 Active 830-char remark

   Show marketing remark (830 chars)

   Inviting & Spacious 2 bedroom, 2 bath, Split plan Doublewide, with Sunny Florida Room to enjoy! Located on private perimeter, with wonderful spacious backyard, to relax & entertain. All light & bright, spacious interior, just waiting for you to arrive and enjoy! Updated Double Roof Over 5/21, along with new insulated vapor barrier, under home. Impressive large kitchen, ready for your fun parties! This 5 Star, 55+ Resident Owned, Fun & Active Lake Rich Pool Community, is only minutes to the beaches, shopping, bike trails, airports, VA Medical, golf courses, and all you would want! Cash only! Asking only $145,900, includes the share! Low $300. per mo. maintenance fee, covers your water, garbage, sewer, yard, cable tv, and internet. Say Hello to your new lifestyle of relaxation & Recreation.

ⓘ 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: $1,815 · $151/mo
• Projected year-2 tax: $1,815 · $151/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 · 24 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: $23,879
• − Mortgage interest: −$6,156
• − Property taxes: −$1,815
• − Insurance: −$550
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − HOA: −$3,600
• − Depreciation: −$3,197
• Taxable income: $4,741
• Est. tax owed @ 24.0%: −$1,138
• After-tax cash flow: $4,847/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 — West Lealman

• Score: 81/100
• State rank: #84
• US rank: #1396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 25,371
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 25,050
• Household income: $53,501
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 712.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 10% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Vietnamese 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: ▼ -416.74%
• Current HPI: 391.368
• Rent YoY: ▲ 0.99%
• 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

-24.7% since first listed

7 events — show timeline

• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $109,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-15 Price Changed $114,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-05 Sold (MLS) $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-12-15 Listed $145,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $1,815 · +28.0% YoY. Source: county tax records.