944 15th Ave S · St. Petersburg, FL 33705

$895,000

15 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 171 Days on market

Built 1925 6,782 sqft lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

Key facts

• Common utility room
• 6,782 sq ft lot
• Built 1925

Tags

• NEW ROOFS ON ALL BUILDINGS
• INTERIOR AND EXTERIOR PAINT
• ZONED FOR UP TO 9 UNITS
• COMMON UTILITY ROOM

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/1.6-bath units multifamily listed at $895k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $372/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $895k).
• Recommended offer: $788k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Market conditions: Rents soft (-0.1%/yr); 308 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $10,113/mo this rent would consume 166% of the median local household income ($73k/yr) (locally 1386% 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 $6k of loan paydown is wiped out by about $27k 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 171 days — a 12% lower offer ($788k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $100k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $775k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $787,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.13% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.4

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: -6.2%
• Equity multiple: 0.78×
• Total profit: $-56,052
• Equity at exit: $133,447

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-10,284
• Equity at exit: $77,383

Cash invested: $250,600 (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 33705

• Rents YoY: -0.1%
• Active inventory: 308
• Price-to-rent: 36.9×

Monthly cashflow live

• Estimated rent: $10,113 medium
• Mortgage (P&I): −$4,693
• Tax from tax record: −$1,062 /mo · $12,749/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,124
• Net cashflow: $1,860

Break-even live

Break-even rent $7,758

Max offer price $895,000

Occupancy floor 77%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	3	1.6	$10,115
Total (5 units)			$10,113

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2025-09-18
   status Pending
2. 2025-05-28
   price $895,000
3. 2025-04-04
   historical $2,000
4. 2025-03-31
   listed $995,000 Active
5. 2025-03-14
   listed $2,000
6. 2023-09-08
   soldstatus $775,000 Closed 802-char remark

   Show marketing remark (802 chars)

   RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

7. 2023-06-08
   status Pending 802-char remark

   Show marketing remark (802 chars)

   RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

8. 2023-04-24
   price $890,000 802-char remark

   Show marketing remark (802 chars)

   RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

9. 2023-03-20
   price $899,000 802-char remark

   Show marketing remark (802 chars)

   RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

10. 2023-03-01
    price $939,000 802-char remark

    Show marketing remark (802 chars)

    RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

11. 2023-01-06
    price $969,000 802-char remark

    Show marketing remark (802 chars)

    RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

12. 2022-10-03
    price $970,000 802-char remark

    Show marketing remark (802 chars)

    RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

13. 2022-08-24
    listed $985,000 Active 802-char remark

    Show marketing remark (802 chars)

    RENTS updated and have been raised. 9k a month in rent. Bring offers New ROOFS on all 3 Buildings , foundation stabilization all 3 Buildings with lifetime warranty, Very Rare 5 unit Multi-Family Investment Property , only minutes from Downtown St. Pete and Tropicana Field. Property has recently been renovated and updated. New waterproof flooring in all units. Updates to plumbing and electrical all units painted inside and exteriors of all buildings. Rents have been brought up close to current market value with an excellent CAP rate with potential for additional growth. All units are separately metered for Electric and Water. Do not let this opportunity get away. Please DO NOT DISTURB TENANTS. .. .Showing by appointment only please TEXT listing Agent with all questions and to set up showings.

14. 2021-06-04
    soldstatus $485,000
15. 2021-03-26
    soldstatus $485,000 Closed 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

16. 2021-02-27
    status Pending 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

17. 2021-02-19
    status Active 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

18. 2021-01-24
    status Pending 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

19. 2021-01-24
    historical 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

20. 2021-01-23
    status Active 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

21. 2020-12-17
    historical 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

22. 2020-12-14
    price $519,000 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

23. 2020-12-08
    price $539,000 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

24. 2020-12-06
    price $569,000 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

25. 2020-11-23
    listed $599,000 Active 293-char remark

    Show marketing remark (293 chars)

    Rare, Legal 5 Unit Multi-family Investment property, consisting of 2 Duplexes and 1 Single Family on 1 lot. Property is well maintained and all units are separately metered for Electric and Water. Fully rented with long-term tenants. Please DO NOT DISTURB TENANTS, Showing by appointment only.

26. 2004-03-29
    soldstatus $85,000

ⓘ 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: $12,749 · $1,062/mo
• Projected year-2 tax: $12,749 · $1,062/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $121,356
• − Mortgage interest: −$50,134
• − Property taxes: −$12,749
• − Insurance: −$4,475
• − Repairs & maintenance: −$9,708
• − Management: −$9,708
• − Depreciation: −$26,036
• Taxable income: $8,545
• Est. tax owed @ 24.0%: −$2,051
• After-tax cash flow: $20,275/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): 27,939
• Household income: $73,027
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1386.0

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 0.64)
• Race & ethnicity: Black 44% White 41% Two or more races 10% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -540.28%
• Current HPI: 388.3086
• Rent YoY: ▼ -0.13%
• 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

+952.9% since first listed

26 events — show timeline

• 2025-09-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $895,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-04 Rental Removed $2,000 BUILDIUM
• 2025-03-31 Listed $995,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-14 Listed for Rent $2,000 BUILDIUM
• 2023-09-08 Sold (MLS) $775,000 Stellar MLS as Distributed by MLS Grid
• 2023-06-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-04-24 Price Changed $890,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-20 Price Changed $899,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-01 Price Changed $939,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-06 Price Changed $969,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-03 Price Changed $970,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-24 Listed $985,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-04 Sold (Public Records) $485,000 Public Records
• 2021-03-26 Sold (MLS) $485,000 Stellar MLS as Distributed by MLS Grid
• 2021-02-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-02-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-01-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-01-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-01-23 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-12-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-12-14 Price Changed $519,000 Stellar MLS as Distributed by MLS Grid
• 2020-12-08 Price Changed $539,000 Stellar MLS as Distributed by MLS Grid
• 2020-12-06 Price Changed $569,000 Stellar MLS as Distributed by MLS Grid
• 2020-11-23 Listed $599,000 Stellar MLS as Distributed by MLS Grid
• 2004-03-29 Sold (Public Records) $85,000 Public Records

Property tax history

+13.6%/yr

Latest (2025): $12,749 · +10.7% YoY. Source: county tax records.