2763 63rd Ter N · Lealman, FL 33702

$380,000

4 bd · 4.0 ba · 1,992 sqft · MultiFamily public records · 9 Days on market

Built 1987 8,416 sqft lot Est $345k · 10% over

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Why this score? — see what drove the D+ 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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Under contract-accepting backup offers. Duplex. Great starter investment home. Owner will put new roof upon obtaining a contract. Some TLC and you will have one of the best properties in the area with 2 bedroom, 2 bath units.

Key facts

• 8,416 sq ft lot
• Built 1987
• Listed 9 days

Property features AI

Finance

• Other: Total living area reported from public records: 1,992 (square feet)
• Financial info: Annual net income reported: $45,600; Pro forma rent for each 2-bedroom unit: $1,900
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Duplex residential income property; One building on the lot; Zoned RM-7.5
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.19-acre lot (approx. 71 x 140)
• Exterior features: Other exterior features (not specified)

Interior

• Bedrooms: Total of 4 bedrooms; Contains two 2-bedroom units within the duplex configuration
• Bathrooms: Each 2-bedroom unit has 2 bathrooms
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: No notable interior features listed
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive. Per door: $270/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $380k).
• Cap rate 8.0% 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+, schools F, 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.
• Market conditions: Rents soft (-2.2%/yr); 385 active listings in the ZIP; 11 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 $3,899/mo this rent would consume 69% of the median local household income ($67k/yr) (locally 1000% 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 $3k of loan paydown is wiped out by about $11k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.
• Current owner paid $72k; list at $380k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $380,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.03% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $344,616
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2763 63rd Ter N	0.00mi	4/4.0	1,992 (0%)	1mo	$345,000	$173	100

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.64×
• Total profit: $-38,646
• Equity at exit: $56,659

10-year hold

• IRR: -5.6%
• Equity multiple: 0.68×
• Total profit: $-33,554
• Equity at exit: $32,855

Cash invested: $106,400 (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 33702

• Rents YoY: -2.2%
• Active inventory: 385
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,899 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$390 /mo · $4,677/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $539

Break-even live

Break-even rent $3,216

Max offer price $380,000

Occupancy floor 81%

Sensitivity live

Price	-10% $754	-5% $647	+0% $539	+5% $432	+10% $324
Rent	-10% $231	-5% $385	+0% $539	+5% $693	+10% $847
Rate	-1.0pp $731	-0.5pp $636	base $539	+0.5pp $441	+1.0pp $341

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,898
Total (2 units)			$3,899

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6379 29th St N Saint Petersburg, FL	3.0	2.0	1323	$2,869	$2.17	25d	1	0.08mi
2612 68th Ave N Saint Petersburg, FL	5.0	2.0	1438	$3,000	$2.09	25d	1	0.28mi
5246 Neil Dr Saint Petersburg, FL	3.0	3.0	1713	$3,450	$2.01	22d	1	0.72mi
6630 17th Ln N Saint Petersburg, FL	3.0	1.0	1324	$2,489	$1.88	15d	1	0.82mi
1770 63rd Ave N Saint Petersburg, FL	3.0	2.0	1782	$3,300	$1.85	8d	1	0.83mi
3725 57th Ave N Saint Petersburg, FL	3.0	2.0	1800	$3,200	$1.78	5d	1	0.92mi
1770 73rd Ave N Saint Petersburg, FL	4.0	2.0	1484	$4,500	$3.03	5d	1	1.00mi
4057 71st Ter N Pinellas Park, FL	3.0	2.5	1420	$2,650	$1.87	5d	1	1.21mi
1416 55th Ave N St Petersburg, FL	3.0	2.0	1300	$4,600	$3.54	25d	1	1.22mi
3110 Grand Ave Pinellas Park, FL	1.0–3.0	1.0–2.0	1104	$3,038	$2.75	2d	34	1.31mi
1155 53rd Ave N Saint Petersburg, FL	3.0	2.0	1790	$3,500	$1.96	5d	1	1.40mi

Listing history 9 events

1. 2026-05-19
   listed $380,000 Active
2. 2026-03-31
   historical
3. 2026-02-23
   status Active
4. 2026-01-09
   status Pending
5. 2026-01-02
   status Active
6. 2025-12-15
   status Pending
7. 2025-12-03
   listed $424,900 Active
8. 1994-10-31
   soldstatus $72,500
9. 1987-09-10
   soldstatus $87,000

ⓘ 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: $4,677 · $390/mo
• Projected year-2 tax: $4,677 · $390/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 3/10 Moderate FEMA zone X (unshaded) · 12% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,788
• − Mortgage interest: −$21,286
• − Property taxes: −$4,677
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − Depreciation: −$11,055
• Taxable income: $384
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $6,380/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): 31,294
• Household income: $67,463
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1000.0

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 12% Two or more races 10% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, Jamaica
• Languages at home: 83% English-only · Spanish 8% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -516.17%
• Current HPI: 347.1781
• Rent YoY: ▼ -2.22%
• 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

+336.8% since first listed

9 events — show timeline

• 2026-05-19 Listed $380,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-03 Listed $424,900 Stellar MLS as Distributed by MLS Grid
• 1994-10-31 Sold (Public Records) $72,500 Public Records
• 1987-09-10 Sold (Public Records) $87,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $4,677 · +6.5% YoY. Source: county tax records.