1123 29th St S · St. Petersburg, FL 33712

$200,000

2 bd · 1.0 ba · 891 sqft · SingleFamily public records · 18 Days on market

Built 1924 6,508 sqft lot Est $278k · 28% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Alert or Perfect Starter Project! Take a look at this single-family home offering 2 bedrooms, 1 bathroom, and 891 square feet of potential living space. Situated on an expansive 6,490 sq. ft. lot, this property features an incredible backyard with plenty of space for extensions, outdoor entertaining, or creating your own private tropical oasis. The exterior features durable stucco siding and the convenience of a covered carport. Located in the heart of St. Petersburg, you are just a short drive from the vibrant downtown scene, beautiful Gulf beaches, shopping, dining, and local parks. With a little sweat equity, this property can truly shine as an excellent rental addition to your

Key facts

• Expansive lot
• Covered carport
• 6,508 sq ft lot

Tags

• COVERED CARPORT
• DURABLE STUCCO SIDING
• EXPANSIVE LOT
• SHORT DRIVE TO DOWNTOWN
• SHORT DRIVE TO GULF BEACHES
• SHORT DRIVE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (2.3% below list).
• Recommended offer: $195k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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 (-0.8%/yr); 204 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 39% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,323 (2.3% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $277,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2584 14th Ave S	0.30mi	2/1.0	914 (+3%)	3mo	$285,000	$312	80
2401 17th Ave S	0.55mi	3/1.0 (+1)	912 (+2%)	1mo	$90,000	$99	64
3127 Oakley Ave S	0.31mi	3/1.0 (+1)	950 (+7%)	6mo	$245,000	$258	64
2331 16th Ave S	0.56mi	3/1.0 (+1)	872 (-2%)	6mo	$245,000	$281	60
3336 Carlisle Ave S	0.71mi	2/1.0	928 (+4%)	4mo	$240,000	$259	57
3230 4th Ave S	0.62mi	2/1.0	838 (-6%)	11mo	$290,000	$346	52
2528 4th Ave S	0.65mi	2/1.0	810 (-9%)	5mo	$350,000	$432	51
3237 4th Ave S	0.65mi	2/1.0	816 (-8%)	8mo	$291,000	$357	49
1742 31st St S	0.43mi	3/1.5 (+1)	988 (+11%)	9mo	$264,855	$268	48
2027 13th Ave S	0.74mi	3/1.0 (+1)	958 (+8%)	6mo	$210,000	$219	43
2921 3rd Ave S	0.66mi	2/1.0	761 (-15%)	12mo	$550,000	$723	35
1300 37th St S	0.65mi	3/1.0 (+1)	758 (-15%)	9mo	$245,000	$323	32

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: -10.5%
• Equity multiple: 0.63×
• Total profit: $-20,795
• Equity at exit: $29,821

10-year hold

• IRR: -5.7%
• Equity multiple: 0.68×
• Total profit: $-18,013
• Equity at exit: $17,292

Cash invested: $56,000 (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 33712

• Rents YoY: -0.8%
• Active inventory: 204
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$138 /mo · $1,657/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $273

Break-even live

Break-even rent $1,608

Max offer price $200,000

Occupancy floor 81%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1361 29th St S Saint Petersburg, FL	3.0	1.0	819	$2,400	$2.93	24d	1	0.18mi
3091 15th Ave S St. Petersburg, FL	3.0	2.0	1000	$2,195	$2.19	24d	1	0.25mi
1147 32nd St S Saint Petersburg, FL	2.0	1.0	780	$1,350	$1.73	15d	1	0.25mi
3089 15th Ave S Saint Petersburg, FL	3.0	2.0	1000	$2,195	$2.19	4d	1	0.25mi
1227 Fargo St S Unit 1 St. Petersburg, FL	2.0	1.0	780	$1,600	$2.05	24d	1	0.31mi
2547 14th Ave S Saint Petersburg, FL	2.0	1.0	726	$2,800	$3.86	4d	1	0.35mi
626 31st St S Saint Petersburg, FL	3.0	1.0	1040	$2,200	$2.12	3d	1	0.39mi
560 26th St S Saint Petersburg, FL	3.0	1.0	979	$2,407	$2.46	24d	1	0.51mi
2601 18th Ave S Unit B St. Petersburg, FL	1.0	1.0	600	$1,100	$1.83	24d	1	0.52mi
1827 Auburn St S Saint Petersburg, FL	3.0	1.0	1056	$1,855	$1.76	4d	1	0.56mi
1901 31st St S Unit 1/2 St. Petersburg, FL	2.0	1.0	721	$1,950	$2.70	4d	1	0.58mi
3535 14th Ave S Saint Petersburg, FL	3.0	1.0	768	$1,650	$2.15	4d	1	0.59mi
3145 4th Ave S St. Petersburg, FL	2.0	1.5	938	$2,020	$2.15	24d	1	0.60mi
2231 15th Ave S Saint Petersburg, FL	2.0	1.0	768	$1,900	$2.47	4d	1	0.61mi
2810 2nd Ave S Unit B St. Petersburg, FL	2.0	1.0	950	$2,795	$2.94	15d	1	0.68mi
3246 20th Ave S Saint Petersburg, FL	2.0	1.0	864	$1,795	$2.08	24d	1	0.70mi
1930 Walton St S Saint Petersburg, FL	3.0	1.0	814	$2,000	$2.46	4d	1	0.71mi
3460 4th Ave S Unit 3 St. Petersburg, FL	2.0	1.0	544	$1,800	$3.31	24d	1	0.73mi
3460 4th Ave S Unit 1 St. Petersburg, FL	1.0	1.0	544	$1,550	$2.85	24d	1	0.73mi
3421 4th Ave S Saint Petersburg, FL	2.0	1.5	938	$1,805	$1.92	4d	1	0.73mi
1665 37th St S Saint Petersburg, FL	3.0	1.0	867	$1,850	$2.13	11d	1	0.74mi
2900 1st Ave S Unit A St. Petersburg, FL	2.0	1.0	1000	$2,295	$2.29	24d	1	0.75mi
1204 21st St S St. Petersburg, FL	1.0	1.0	584	$1,325	$2.27	15d	1	0.75mi
2030 12th Ave S St. Petersburg, FL	1.0	1.0	622	$1,325	$2.13	13d	1	0.76mi
2710 22nd Ave S Saint Petersburg, FL	3.0	1.0	1083	$2,450	$2.26	4d	1	0.76mi
2606 1st Ave S Saint Petersburg, FL	1.0	1.0	600	$1,600	$2.67	24d	1	0.79mi
2020 14th Ave S Unit A St. Petersburg, FL	2.0	2.0	1000	$1,920	$1.92	8d	1	0.80mi
2028 14th Ave S Unit A St. Petersburg, FL	2.0	2.0	1000	$1,920	$1.92	24d	1	0.80mi
3100 Central Ave Saint Petersburg, FL	1.0–2.0	1.0–2.0	880	$2,660	$3.02	2d	10	0.82mi
2425 22nd Ave S Saint Petersburg, FL	1.0	1.0	698	$1,525	$2.18	24d	1	0.83mi
201 35th St S Saint Petersburg, FL	2.0	1.0	850	$1,680	$1.98	2d	1	0.84mi
1642 39th St S Saint Petersburg, FL	3.0	1.0	975	$1,995	$2.05	20d	1	0.86mi
3936 9th Ave S Saint Petersburg, FL	2.0	1.0	696	$1,895	$2.72	8d	1	0.86mi
1920 14th Ave S Saint Petersburg, FL	3.0	2.0	1073	$1,865	$1.74	24d	1	0.86mi
2010 22nd St S Saint Petersburg, FL	3.0	1.0	1036	$1,695	$1.64	4d	1	0.86mi
3550 2nd Ave S St. Petersburg, FL	2.0	1.0	720	$2,800	$3.89	24d	1	0.87mi
1036 19th St S Saint Petersburg, FL	2.0	1.0	575	$1,500	$2.61	24d	1	0.88mi
2423 Auburn St S Saint Petersburg, FL	3.0	2.0	1057	$1,650	$1.56	24d	1	0.91mi
2425 Auburn St S Saint Petersburg, FL	3.0	2.0	1092	$2,195	$2.01	4d	1	0.91mi
2000 Queensboro Ave S Unit A St. Petersburg, FL	2.0	1.0	616	$1,450	$2.35	24d	1	0.92mi

Listing history 15 events

1. 2026-06-18
   days on market $200,000 Active 18 DOM
2. 2026-06-17
   days on market $200,000 Active 17 DOM
3. 2026-06-16
   days on market $200,000 Active 16 DOM
4. 2026-06-15
   days on market $200,000 Active 15 DOM
5. 2026-06-13
   days on market $200,000 Active 13 DOM
6. 2026-06-09
   days on market $200,000 Active 9 DOM
7. 2026-06-08
   days on market $200,000 Active 8 DOM
8. 2026-06-07
   days on market $200,000 Active 7 DOM
9. 2026-06-04
   days on market $200,000 Active 4 DOM
10. 2026-06-03
    days on market $200,000 Active 3 DOM
11. 2026-06-02
    days on market $200,000 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    pricedays on marketlisting id $200,000 Active 1 DOM
14. 2026-05-31
    days on market $170,000 Active 19 DOM
15. 2026-05-12
    listed $170,000 Active

ⓘ 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: $1,657 · $138/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$3/yr ($0/mo · 0.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 22 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: $23,439
• − Mortgage interest: −$11,203
• − Property taxes: −$1,657
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$5,818
• Taxable income: $11
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $3,272/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): 27,142
• Household income: $60,450
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1928.0

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 Black (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 1% Slovak 1% Estonian 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 92% English-only · French/Haitian/Cajun 3% Spanish 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: ▼ -275.45%
• Current HPI: 412.7251
• Rent YoY: ▼ -0.77%
• 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

1 event — show timeline

• 2026-05-12 Listed $170,000 FSBO.com

Property tax history

+14.4%/yr

Latest (2025): $1,657 · +7.5% YoY. Source: county tax records.