1900 59th Ave N #210 · Lealman, FL 33714

$109,000

2 bd · 2.0 ba · 1,410 sqft · Condo public records · 158 Days on market

Built 1968 $845/mo HOA · 34% 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 +30.0/30.0
• 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

One or more photo(s) has been virtually staged. Welcome to this spacious 2-bedroom, 2-bath, 1,410 sq. ft. end-unit condo in the desirable 55+ Oasis Building at Town Apartments. One of the largest floor plans in the community, conveniently located next to the elevator and laundry room. Enjoy the covered front porch with tranquil pond views. Inside, the living area features carpet with laminate flooring in the dining space, and both bedrooms were updated with laminate flooring in 2021. The kitchen offers tile flooring, stainless steel appliances, granite countertops, and a gas stove, plus a versatile bonus room ideal for an office, media, or hobby space. Residents enjoy a Rec Hall Clubhouse w

Key facts

• Bonus room
• Gas stove
• Granite countertops

Tags

• TRANQUIL POND VIEWS
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• GAS STOVE
• BONUS ROOM
• POOL AND PATIO

Property features AI

Finance

• Other:
• Financial info: Total annual association fees $10,140
• HOA & community: Monthly condo fee of $845 (includes cable TV, gas, internet, grounds maintenance, sewer, trash, water and other services); Association amenities include clubhouse and laundry; Community features: clubhouse, pool, sidewalks, golf carts allowed, association recreation (lease); Senior community; Pets allowed

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected
• Home design: Condominium; 2 total stories; Unit on 2nd floor; Faces west
• Construction: Block and stucco construction; Shingle roof; Block foundation; Built as part of Town Apts No 17 Condo Oasis Bl
• Exterior features: Awnings

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Building has an elevator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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+, 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.
• Zoned schools: John M. Sexton Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 449 students, 71% FRL); Northeast High School (math 35% / reading 47%, grade F, #289 of 667 statewide, top 44%, 1,736 students, 50% FRL).
• Market conditions: Rents soft (-2.1%/yr); 165 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $2,457/mo this rent would consume 62% 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 $754 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.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $41k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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: 2.25% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.35%
• DSCR: 1.77
• GRM: 3.7

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: 3.4%
• Equity multiple: 1.12×
• Total profit: $3,742
• Equity at exit: $16,252

10-year hold

• IRR: 7.6%
• Equity multiple: 1.45×
• Total profit: $13,644
• Equity at exit: $9,424

Cash invested: $30,520 (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: 3.7×

Monthly cashflow live

• Estimated rent: $2,457 high
• Mortgage (P&I): −$572
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$45
• HOA: −$845
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $441

Break-even live

Break-even rent $1,898

Max offer price $109,000

Occupancy floor 77%

Sensitivity live

Price	-10% $503	-5% $472	+0% $441	+5% $410	+10% $380
Rent	-10% $247	-5% $344	+0% $441	+5% $538	+10% $635
Rate	-1.0pp $496	-0.5pp $469	base $441	+0.5pp $413	+1.0pp $384

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5920 18th St N #14 Saint Petersburg, FL	2.0	2.0	950	$1,400	$1.47	25d	1	0.07mi
1770 63rd Ave N Saint Petersburg, FL	3.0	2.0	1782	$3,300	$1.85	8d	1	0.24mi
5924 15th Way N Saint Petersburg, FL	3.0	2.0	1104	$3,200	$2.90	5d	1	0.29mi
6630 17th Ln N Saint Petersburg, FL	3.0	1.0	1324	$2,489	$1.88	15d	1	0.41mi
1412 56th Ave N Saint Petersburg, FL	2.0	1.0	1156	$2,195	$1.90	4d	1	0.42mi
1416 55th Ave N St Petersburg, FL	3.0	2.0	1300	$4,600	$3.54	25d	1	0.45mi
2275 62nd Ave N #203 St Petersburg, FL	2.0	2.0	940	$1,975	$2.10	25d	1	0.48mi
1155 53rd Ave N Saint Petersburg, FL	3.0	2.0	1790	$3,500	$1.96	4d	1	0.63mi
6900 16th St N Saint Petersburg, FL	3.0	1.0	1150	$2,095	$1.82	5d	1	0.65mi
2715 63rd Ter N Unit B St. Petersburg, FL	2.0	2.0	1030	$1,900	$1.84	25d	1	0.73mi
7111 16th St N Saint Petersburg, FL	3.0	1.0	1130	$2,695	$2.38	5d	1	0.77mi
2600 52nd Ave N Unit A St. Petersburg, FL	2.0	2.0	1018	$2,225	$2.19	3d	1	0.78mi
7260 17th Way N Saint Petersburg, FL	3.0	1.0	912	$3,650	$4.00	5d	1	0.82mi
5210 Doctor Martin Luther King Junior St N St. Petersburg, FL	3.0	2.0	1318	$3,600	$2.73	14d	1	0.82mi
5801 Magnolia St N Saint Petersburg, FL	2.0	2.0	1147	$2,250	$1.96	5d	1	0.83mi
6379 29th St N Saint Petersburg, FL	3.0	2.0	1323	$2,869	$2.17	25d	1	0.86mi
5246 Neil Dr Saint Petersburg, FL	3.0	3.0	1713	$3,450	$2.01	22d	1	1.05mi
4628 Dr Martin Luther King Jr St N Saint Petersburg, FL	3.0	2.0	1421	$2,950	$2.08	25d	1	1.08mi
3132 56th Ave N Saint Petersburg, FL	3.0	2.0	1063	$2,850	$2.68	25d	1	1.09mi
7325 10th St N Saint Petersburg, FL	3.0	2.0	1762	$3,300	$1.87	24d	1	1.14mi
7325 10th St N Saint Petersburg, FL	3.0	2.0	1762	$3,300	$1.87	22d	1	1.14mi
5185 6th Way N St Petersburg, FL	3.0	2.5	1480	$3,150	$2.13	5d	1	1.15mi
617 52nd Ave N Saint Petersburg, FL	3.0	2.5	1481	$3,250	$2.19	5d	1	1.15mi
4104 1/2 Haines Rd N Unit 1 St. Petersburg, FL	2.0	1.0	1000	$1,850	$1.85	25d	1	1.19mi
628 51st Ave N Saint Petersburg, FL	3.0	2.5	1480	$2,800	$1.89	4d	1	1.20mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$3,323	$3.44	3d	13	1.35mi
2519 39th Ave N Saint Petersburg, FL	3.0	2.0	1005	$2,750	$2.74	25d	1	1.37mi
613 44th Ave N Saint Petersburg, FL	2.0	1.0	1124	$2,250	$2.00	5d	1	1.41mi
3584 54th Ave N Saint Petersburg, FL	3.0	1.0	1012	$1,950	$1.93	5d	1	1.45mi
600 76th Ave N Saint Petersburg, FL	1.0–2.0	1.0–1.5	775	$1,849	$2.39	5d	10	1.50mi
3651 Haines Rd N Saint Petersburg, FL	2.0	1.0	950	$1,800	$1.89	12d	1	1.50mi

HOA detail condo

• Monthly dues: $845 · $10,140/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-04
   status $109,000 Pending 158 DOM
2. 2026-06-03
   days on market $109,000 Active 158 DOM
3. 2026-06-01
   days on market $109,000 Active 156 DOM
4. 2026-05-31
   days on market $109,000 Active 155 DOM
5. 2026-05-14
   price $109,000
6. 2026-04-06
   price $119,999
7. 2026-03-19
   price $134,999
8. 2026-01-16
   price $140,000
9. 2025-12-27
   listed $150,000 Active
10. 2025-12-10
    historical
11. 2025-11-07
    price $184,500
12. 2025-09-02
    listed $189,500 Active
13. 2010-01-29
    soldstatus $110,000
14. 2004-01-16
    soldstatus $85,000
15. 2000-07-31
    soldstatus $56,000
16. 1988-05-13
    soldstatus $43,000

ⓘ 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: $448 · $37/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$457/yr (+$38/mo · 101.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $29,479
• − Mortgage interest: −$6,106
• − Property taxes: −$448
• − Insurance: −$545
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − HOA: −$10,140
• − Depreciation: −$3,171
• Taxable income: $4,353
• Est. tax owed @ 24.0%: −$1,045
• After-tax cash flow: $4,251/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

+153.5% since first listed

12 events — show timeline

• 2026-05-14 Price Changed $109,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $119,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $134,999 Stellar MLS as Distributed by MLS Grid
• 2026-01-16 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-27 Listed $150,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-07 Price Changed $184,500 Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Listed $189,500 Stellar MLS as Distributed by MLS Grid
• 2010-01-29 Sold (Public Records) $110,000 Public Records
• 2004-01-16 Sold (Public Records) $85,000 Public Records
• 2000-07-31 Sold (Public Records) $56,000 Public Records
• 1988-05-13 Sold (Public Records) $43,000 Public Records

Property tax history

-5.9%/yr

Latest (2025): $448 · +8.6% YoY. Source: county tax records.