5664 40th Ter N #430 · Kenneth City, FL 33709

$89,000

1 bd · 1.0 ba · 652 sqft · Condo public records · 137 Days on market

Built 1963 $480/mo HOA · 33% of rent

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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 +19.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready 2nd floor condo. Well maintained unit. 55+ Community features Clubhouse with nice Library and Shuffleboard Courts. Conveniently located only minutes to shopping and Bus Line. Pets allowed.

Key facts

• New pedestal sink
• Built in shelving
• Kitchen ceiling fan

Tags

• MATURE LANDSCAPING
• SERENE POND
• BUILT IN SHELVING
• KITCHEN CEILING FAN
• NEW PEDESTAL SINK
• CEDAR LINED CLOSETS

Property features AI

Finance

• Other: Furnished: negotiable
• Financial info: Total monthly fees $480; total annual fees $5,760
• HOA & community: Monthly condo/HOA fee: $480 (includes cable TV, internet, structure and grounds maintenance, recreational facilities, sewer, trash, water); Association amenities: clubhouse, laundry, shuffleboard court; Buyer approval required; Senior community; Pets allowed with breed restrictions and max weight ~25 lbs

Exterior

• Parking: Assigned parking (can park in spot #430); Private maintained road; Asphalt/paved road access
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; Residential property; 2 stories total; Unit located on 2nd floor; Faces north
• Construction: Concrete construction; Other roof type; Slab foundation; Built as part of a multi-unit building (building number 16)
• Exterior features: Sidewalk; On-site storage; Patio/porch: none

Interior

• Kitchen: Range; Refrigerator; Water filtration system
• Bedrooms: 1 bedroom (unit is upstairs on the 2nd floor)
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Ceiling fans; Thermostat; Window treatments; Blinds
• Laundry & utility: Washer in unit; Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 83/100 on livability (#47 in FL, #874 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities D.
• 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; 311 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 33% 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 $615 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 137 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1963 — 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. 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: 1.65% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-10,447
• Equity at exit: $13,270

10-year hold

• IRR: -8.1%
• Equity multiple: 0.56×
• Total profit: $-10,890
• Equity at exit: $7,695

Cash invested: $24,920 (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: 311
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$467
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$37
• HOA: −$480
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $104

Break-even live

Break-even rent $1,337

Max offer price $89,000

Occupancy floor 88%

Sensitivity live

Price	-10% $154	-5% $129	+0% $104	+5% $78	+10% $53
Rent	-10% $-12	-5% $46	+0% $104	+5% $162	+10% $220
Rate	-1.0pp $148	-0.5pp $126	base $104	+0.5pp $80	+1.0pp $57

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5680 28th Ave N Unit 1 St. Petersburg, FL	1.0	1.0	450	$1,500	$3.33	25d	1	0.81mi
5323 59th Cir W Kenneth City, FL	1.0–2.0	1.0	800	$1,100	$1.38	4d	4	0.83mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,350	$1.91	4d	6	0.87mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,300	$1.30	3d	2	0.92mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	25d	1	1.02mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	15d	1	1.15mi
5701 21st Ave N Saint Petersburg, FL	1.0–2.0	1.0	775	$1,449	$1.87	9d	3	1.21mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,300	$1.46	3d	10	1.22mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	25d	1	1.37mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	25d	1	1.42mi
4719 21st Ave N Saint Petersburg, FL	2.0	1.0	672	$1,800	$2.68	25d	1	1.48mi

HOA detail condo

• Monthly dues: $480 · $5,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $89,000 Active 137 DOM
2. 2026-06-17
   days on market $89,000 Active 136 DOM
3. 2026-06-16
   days on market $89,000 Active 135 DOM
4. 2026-06-15
   days on market $89,000 Active 134 DOM
5. 2026-06-13
   days on market $89,000 Active 132 DOM
6. 2026-06-09
   days on market $89,000 Active 128 DOM
7. 2026-06-08
   days on market $89,000 Active 127 DOM
8. 2026-06-07
   days on market $89,000 Active 126 DOM
9. 2026-06-04
   days on market $89,000 Active 123 DOM
10. 2026-06-03
    days on market $89,000 Active 122 DOM
11. 2026-06-01
    days on market $89,000 Active 120 DOM
12. 2026-05-31
    days on market $89,000 Active 119 DOM
13. 2026-05-22
    price $89,000
14. 2026-04-26
    price $90,000
15. 2026-03-14
    price $91,000
16. 2026-02-01
    listed $92,000 Active
17. 2026-01-15
    historical
18. 2025-11-17
    price $98,500
19. 2025-10-28
    price $100,500
20. 2025-09-26
    price $103,500
21. 2025-08-13
    listed $104,500 Active
22. 2022-10-28
    soldstatus $95,000
23. 2022-10-26
    soldstatus $95,000 Closed 202-char remark

    Show marketing remark (202 chars)

    Move-In Ready 2nd floor condo. Well maintained unit. 55+ Community features Clubhouse with nice Library and Shuffleboard Courts. Conveniently located only minutes to shopping and Bus Line. Pets allowed.

24. 2022-09-30
    status Pending 202-char remark

    Show marketing remark (202 chars)

    Move-In Ready 2nd floor condo. Well maintained unit. 55+ Community features Clubhouse with nice Library and Shuffleboard Courts. Conveniently located only minutes to shopping and Bus Line. Pets allowed.

25. 2022-09-01
    listed $99,900 Active 202-char remark

    Show marketing remark (202 chars)

    Move-In Ready 2nd floor condo. Well maintained unit. 55+ Community features Clubhouse with nice Library and Shuffleboard Courts. Conveniently located only minutes to shopping and Bus Line. Pets allowed.

26. 2021-08-09
    soldstatus $55,000 Closed
27. 2021-08-09
    soldstatus $55,000
28. 2021-07-27
    status Pending
29. 2021-07-16
    price $61,000
30. 2021-06-30
    status Active
31. 2021-06-14
    status Pending
32. 2021-06-07
    listed $64,900 Active
33. 2014-02-19
    soldstatus $22,500
34. 2014-02-18
    soldstatus $22,000
35. 2013-11-05
    listed $29,500
36. 2005-01-11
    soldstatus $32,000
37. 2000-01-10
    soldstatus $18,900
38. 1990-10-18
    soldstatus $20,000
39. 1985-02-01
    soldstatus $24,900
40. 1982-03-01
    soldstatus $22,000

ⓘ 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: $873 · $73/mo
• Projected year-2 tax: $873 · $73/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 · 25 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: $17,622
• − Mortgage interest: −$4,985
• − Property taxes: −$873
• − Insurance: −$445
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − HOA: −$5,760
• − Depreciation: −$2,589
• Taxable income: $150
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $1,206/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 — Kenneth City

• Score: 83/100
• State rank: #47
• US rank: #874

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenneth City, FL
• County: Pinellas County · 939,478 people
• 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

+304.5% since first listed

28 events — show timeline

• 2026-05-22 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-26 Price Changed $90,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Price Changed $91,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-01 Listed $92,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-17 Price Changed $98,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-28 Price Changed $100,500 Stellar MLS as Distributed by MLS Grid
• 2025-09-26 Price Changed $103,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-13 Listed $104,500 Stellar MLS as Distributed by MLS Grid
• 2022-10-28 Sold (Public Records) $95,000 Public Records
• 2022-10-26 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-09-01 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2021-08-09 Sold (Public Records) $55,000 Public Records
• 2021-08-09 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-07-16 Price Changed $61,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2021-06-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-06-07 Listed $64,900 Stellar MLS as Distributed by MLS Grid
• 2014-02-19 Sold (Public Records) $22,500 Public Records
• 2014-02-18 Sold (MLS) $22,000 Stellar MLS as Distributed by MLS Grid
• 2013-11-05 Listed $29,500 Stellar MLS as Distributed by MLS Grid
• 2005-01-11 Sold (Public Records) $32,000 Public Records
• 2000-01-10 Sold (Public Records) $18,900 Public Records
• 1990-10-18 Sold (Public Records) $20,000 Public Records
• 1985-02-01 Sold (Public Records) $24,900 Public Records
• 1982-03-01 Sold (Public Records) $22,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $873 · +2.6% YoY. Source: county tax records.