6269 Palma Del Mar Blvd S #216 · St. Petersburg, FL 33715

$210,000

2 bd · 2.0 ba · 890 sqft · Condo public records · 89 Days on market

Built 1980 $797/mo HOA · 28% of rent

---

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 +17.7/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

It’s time to live the island life in Palma Del Mar overlooking the Isla Del Sol Yacht & Country Club golf course. With peek of Boca Ciega bay. Palma is a beautiful resort-style community with heated pool & spa, a fishing pier, kayak and bike storage, recreation and fitness rooms. For days out, you can follow the biking trail to Fort Desoto stopping at several restaurants along the way. For a car ride enjoy easy interstate access to downtown St Peterburg and Tampa. Bountiful storage space with two exterior storage closets and a primary bedroom walk in. Unit 216 is a corner unit on the 2nd floor with no neighbors above and connects directly to your garage parking spot. The H

Key facts

• $797 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Furnished; Association fee required and collected monthly
• Financial info: Total annual HOA fees $9,564; Lease restrictions apply
• HOA & community: HOA (PBM) with monthly fee of $797; Condo fees include cable TV, internet, pool, fitness center, maintenance (structure & grounds), insurance, sewer, trash, common area taxes, escrow reserves fund; Association approval required; Condo land included; Pets allowed (max 30 lb); Community amenities: clubhouse, community mailbox, fitness center, golf, pool, sidewalks, reclaimed water irrigation, deed restrictions

Exterior

• Parking: Covered parking; Guest parking; Basement parking; 1-car garage
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Residential property; Two levels; Unit on 2nd floor; Faces south
• Construction: Block construction; Tile roof; Slab foundation; Built as part of PALMA DEL MAR III
• Exterior features: Balcony; Sliding doors; Storage; Private maintained asphalt road

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan; Living room/dining room combo; Balcony; Sliding doors; Storage
• Laundry & utility: Indoor laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (21.7% below list).
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $164k (21.7% below list) — sets the bar for cash-flow.
• Cap rate 7.3% 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 C — 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: Gulfport Montessori Elementary School (math 35% / reading 33%, grade F, #1,744 of 2,144 statewide, top 82%, 435 students, 86% FRL); Bay Point Middle School (math 38% / reading 38%, grade F, #388 of 571 statewide, top 69%, 770 students, 69% FRL); Lakewood High School (math 27% / reading 44%, grade F, #367 of 667 statewide, top 57%, 915 students, 59% FRL) — zoned schools average 71% FRL vs 48% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-15 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: 285 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 34% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $-325 appreciation (-0.1% local appreciation)).
• 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 89 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $210k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $164,342 (21.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.37% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.60×
• Total profit: $-23,422
• Equity at exit: $59,356

10-year hold

• IRR: -2.1%
• Equity multiple: 0.78×
• Total profit: $-12,880
• Equity at exit: $70,068

Cash invested: $58,800 (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 33715

• Home prices YoY: -0.1%
• Active inventory: 285
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,877 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$119 /mo · $1,424/yr
• Insurance: −$88
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$797
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $-258

Break-even live

Break-even rent $3,204

Max offer price $164,342

Occupancy floor —

Sensitivity live

Price	-10% $-140	-5% $-199	+0% $-258	+5% $-318	+10% $-377
Rent	-10% $-486	-5% $-372	+0% $-258	+5% $-145	+10% $-31
Rate	-1.0pp $-153	-0.5pp $-205	base $-258	+0.5pp $-313	+1.0pp $-368

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6269 Palma del Mar Blvd S #501 Saint Petersburg, FL	1.0	1.5	780	$2,000	$2.56	6d	1	0.01mi
6269 Palma del Mar Blvd S #308 Saint Petersburg, FL	2.0	2.0	1050	$2,495	$2.38	6d	1	0.01mi
6269 Palma del Mar Blvd S #104 Saint Petersburg, FL	2.0	2.0	890	$2,500	$2.81	6d	1	0.01mi
6269 Palma del Mar Blvd S #302 Saint Petersburg, FL	2.0	2.0	1050	$2,395	$2.28	6d	1	0.01mi
6268 Palma del Mar Blvd S #102 Saint Petersburg, FL	2.0	2.0	890	$2,500	$2.81	26d	1	0.05mi
6268 Palma del Mar Blvd S Saint Petersburg, FL	2.0	2.0	1050	$1,795	$1.71	26d	1	0.05mi
6268 Palma del Mar Blvd S #306 Saint Petersburg, FL	2.0	2.0	1050	$2,750	$2.62	26d	1	0.05mi
6268 Palma Del Mar Blvd S Unit 1546126P St. Petersburg, FL	1.0	1.0	796	$3,226	$4.05	16d	1	0.05mi
6268 Palma del Mar Blvd S #111 Saint Petersburg, FL	2.0	2.0	915	$3,000	$3.28	26d	1	0.05mi
6322 Palma del Mar Blvd S #216 Saint Petersburg, FL	2.0	2.0	890	$2,395	$2.69	9d	1	0.08mi
6322 Palma del Mar Blvd S #216 Saint Petersburg, FL	2.0	2.0	890	$2,395	$2.69	19d	1	0.08mi
6219 Palma del Mar Blvd S #105 Saint Petersburg, FL	2.0	2.0	890	$2,400	$2.70	26d	1	0.08mi
6219 Palma del Mar Blvd S #305 Saint Petersburg, FL	1.0	1.5	780	$2,200	$2.82	26d	1	0.08mi
6219 Palma del Mar Blvd S #112 Saint Petersburg, FL	2.0	2.0	890	$2,100	$2.36	26d	1	0.08mi
6219 Palma del Mar Blvd S #210 Saint Petersburg, FL	2.0	2.0	915	$2,250	$2.46	26d	1	0.08mi
6219 Palma del Mar Blvd S #206 Saint Petersburg, FL	2.0	2.0	915	$2,600	$2.84	26d	1	0.08mi
6343 Palma del Mar Blvd S #228 Saint Petersburg, FL	2.0	2.0	890	$2,395	$2.69	26d	1	0.09mi
6343 Palma del Mar Blvd S #226 Saint Petersburg, FL	2.0	2.0	890	$2,235	$2.51	19d	1	0.09mi
6218 Palma del Mar Blvd S #405 St Petersburg, FL	1.0	1.5	780	$2,000	$2.56	6d	1	0.10mi
6218 Palma Del Mar Blvd S Unit 1546234P St. Petersburg, FL	2.0	2.0	882	$3,590	$4.07	16d	1	0.10mi
6218 Palma del Mar Blvd S #401 Saint Petersburg, FL	1.0	1.5	780	$3,810	$4.88	26d	1	0.10mi
6218 Palma del Mar Blvd S #507 Saint Petersburg, FL	1.0	1.5	780	$3,360	$4.31	26d	1	0.10mi
6372 Palma Del Mar Blvd S Unit 1545876P St. Petersburg, FL	2.0	2.0	882	$2,258	$2.56	16d	1	0.14mi
6372 Palma Del Mar Blvd S Unit 1546269P St. Petersburg, FL	1.0	1.0	721	$2,581	$3.58	16d	1	0.14mi
6382 Palma del Mar Blvd S #222 Saint Petersburg, FL	2.0	2.0	890	$2,200	$2.47	26d	1	0.14mi
6121 Palma del Mar Blvd S #228 Saint Petersburg, FL	2.0	2.0	980	$2,500	$2.55	6d	1	0.15mi
6158 Palma del Mar Blvd S #401 Saint Petersburg, FL	1.0	1.5	780	$2,200	$2.82	26d	1	0.18mi
6158 Palma del Mar Blvd S #205 Saint Petersburg, FL	2.0	2.0	890	$2,400	$2.70	26d	1	0.18mi
6365 Bahia del Mar Blvd St Petersburg, FL	1.0–2.0	1.5–2.0	827	$2,500	$3.02	19d	3	0.22mi
6059 Bahia del Mar Blvd #241 Saint Petersburg, FL	2.0	2.0	1070	$5,170	$4.83	19d	1	0.23mi
6361 Bahia del Mar Blvd St Petersburg, FL	1.0–2.0	1.5–2.0	835	$5,800	$6.95	5d	3	0.25mi
6104 Palma del Mar Blvd S #604 St Petersburg, FL	2.0	2.0	1050	$4,500	$4.29	6d	1	0.25mi
6077 Bahia del Mar Blvd St Petersburg, FL	2.0	2.0	1107	$2,198	$1.98	14d	2	0.25mi
6357 Bahia del Mar Blvd St Petersburg, FL	1.0–2.0	1.5–2.0	915	$7,000	$7.65	26d	2	0.29mi
6151 Bahia del Mar Blvd St Petersburg, FL	2.0	2.0	1107	$4,540	$4.10	26d	3	0.32mi
6281 Bahia del Mar Blvd #208 Saint Petersburg, FL	2.0	2.0	890	$2,100	$2.36	26d	1	0.32mi
6294 Bahia del Mar Cir St Petersburg, FL	2.0	2.0	945	$4,142	$4.38	26d	3	0.34mi
6295 Bahia del Mar Cir St Petersburg, FL	1.0–2.0	1.0–2.0	915	$7,110	$7.77	26d	6	0.34mi
6273 Bahia del Mar Blvd #216 Saint Petersburg, FL	2.0	2.0	915	$5,700	$6.23	26d	1	0.35mi
6191 Bahia del Mar Blvd #205 Saint Petersburg, FL	2.0	2.0	1070	$3,400	$3.18	26d	1	0.42mi

HOA detail condo

• Monthly dues: $797 · $9,564/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-22
   days on market $210,000 Active 89 DOM
2. 2026-06-18
   days on market $210,000 Active 86 DOM
3. 2026-06-17
   days on market $210,000 Active 85 DOM
4. 2026-06-16
   days on market $210,000 Active 84 DOM
5. 2026-06-15
   price $210,000 Active 83 DOM
6. 2026-06-15
   days on market $249,000 Active 83 DOM
7. 2026-06-13
   days on market $249,000 Active 81 DOM
8. 2026-06-09
   days on market $249,000 Active 77 DOM
9. 2026-06-08
   days on market $249,000 Active 76 DOM
10. 2026-06-07
    days on market $249,000 Active 75 DOM
11. 2026-06-04
    days on market $249,000 Active 72 DOM
12. 2026-06-03
    days on market $249,000 Active 71 DOM
13. 2026-06-01
    days on market $249,000 Active 69 DOM
14. 2026-05-31
    days on market $249,000 Active 68 DOM
15. 2026-05-13
    price $249,000
16. 2026-04-21
    price $259,000
17. 2026-03-24
    listed $279,000 Active
18. 1996-10-07
    soldstatus $70,000
19. 1981-03-01
    soldstatus $70,900

ⓘ 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: $1,424 · $119/mo
• Projected year-2 tax: $1,743 · $145/mo
• Expected delta: +$319/yr (+$27/mo · 22.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,519
• − Mortgage interest: −$11,763
• − Property taxes: −$1,424
• − Insurance: −$6,169
• − Repairs & maintenance: −$2,762
• − Management: −$2,762
• − HOA: −$9,564
• − Depreciation: −$6,109
• Taxable loss: −$6,033
• Est. tax savings @ 24.0%: +$1,448
• After-tax cash flow: $-1,654/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): 8,032
• Household income: $102,782
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 106.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Hungarian 3% Lithuanian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Arabic 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: ▼ -0.15%
• Current HPI: 264.9727
• Rent YoY: —
• 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

+251.2% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $249,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $259,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-24 Listed $279,000 Stellar MLS as Distributed by MLS Grid
• 1996-10-07 Sold (Public Records) $70,000 Public Records
• 1981-03-01 Sold (Public Records) $70,900 Public Records

Property tax history

-4.1%/yr

Latest (2025): $1,424 · +6.8% YoY. Source: county tax records.