6000 20th St N #127 · Lealman, FL 33714

$50,000

1 bd · 1.0 ba · 625 sqft · Condo public records · 291 Days on market

Built 1966 $481/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

Sellers have reduced the price to reflect the need for some finishing touches. This property offers the perfect opportunity for you to add your personal style and build instant equity. Updates include new vinyl plank flooring throughout with a fresh coat of paint. St. Pete's Best Kept Secret! Really Nice 1BR/1Bth 2nd Floor Condominium in "MANOR" Building. Beautifully maintained with pride of ownership. Laminate and tile flooring! Fully applianced kitchen. HVAC 2008 years old. Spacious Florida Room with newer windows. Assigned parking right out back. Front entry has beautiful gardens for your relaxing enjoyment. Monthly maintenance fee of $471.00 includes gas, water & sewer,

Key facts

• Owners meeting room
• Assigned parking
• Heated swimming pool

Tags

• FULLY APPLIANCED KITCHEN
• SPACIOUS FLORIDA ROOM
• ASSIGNED PARKING
• HEATED SWIMMING POOL
• RECREATION CENTER
• OWNERS MEETING ROOM

Property features AI

Finance

• Other: Buyer approval required for association membership
• Financial info: Total annual HOA fees: $5,772; Unit is sold partially furnished
• HOA & community: Monthly condo fee: $481; Association name: Glory Cepeda; Association fee required and collected monthly; Condo fees include cable TV, pool, internet, maintenance (structure and grounds), management, security, sewer, trash, water, pest control, private road upkeep, escrow reserves and more; Community features: clubhouse, pool, shuffleboard court, sidewalks, wheelchair access, association-owned recreation; golf carts allowed; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Guest parking
• Security: Community includes security as part of association services
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Condominium; Residential property; 3-story building; Unit faces east; Building name: MANOR; Entry level: second floor
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a multi-story building
• Exterior features: Rain gutters; Sidewalks; Heated community pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 1 bedroom (on 2nd floor)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric and natural gas); Central air conditioning
• Interior features: Ceiling fans; Elevator in building
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 35% of the median local income ($47k/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 $346 of loan paydown is wiped out by about $2k 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 291 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $50k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; HOA is 34% of rent.
• 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 $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.80% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.19%
• DSCR: 1.90
• GRM: 3.0

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: 1.22×
• Total profit: $3,139
• Equity at exit: $7,455

10-year hold

• IRR: 9.5%
• Equity multiple: 1.54×
• Total profit: $7,591
• Equity at exit: $4,323

Cash invested: $14,000 (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 33714

• Home prices YoY: -30.9%
• Rents YoY: -2.1%
• Active inventory: 165
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$262
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$21
• HOA: −$481
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $235

Break-even live

Break-even rent $1,101

Max offer price $50,000

Occupancy floor 78%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 18th St N St Petersburg, FL	1.0–2.0	1.0–2.0	727	$1,300	$1.79	24d	2	0.14mi
3109 54th Ave N Saint Petersburg, FL	1.0	1.0	400	$1,025	$2.56	22d	1	0.99mi
3109 54th Ave N Unit 1/2 St. Petersburg, FL	1.0	1.0	400	$1,025	$2.56	18d	1	0.99mi
4481 Crestwood Dr N Saint Petersburg, FL	2.0	1.0	720	$1,950	$2.71	4d	1	1.02mi
660 62nd Ave N #1204 Saint Petersburg, FL	1.0	1.0	656	$1,400	$2.13	24d	1	1.10mi
209 NW Jefferson Cir N Unit 15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	24d	1	1.26mi
209 NW Jefferson Cir N Unit JEFFERSON209-15 St. Petersburg, FL	2.0	1.0	740	$1,275	$1.72	3d	1	1.26mi
5364 4th St N St. Petersburg, FL	1.0	1.0	570	$1,150	$2.02	24d	1	1.36mi
550 50th Ave N Saint Petersburg, FL	2.0	1.0	765	$1,700	$2.22	7d	2	1.37mi
2807 41st Ave N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,600	$3.56	24d	1	1.38mi
1001 77th Ave N #308 Saint Petersburg, FL	1.0	1.0	650	$1,325	$2.04	4d	1	1.39mi
3725 18th St N Saint Petersburg, FL	2.0	1.0	700	$1,795	$2.56	16d	1	1.45mi
3600 49th Ave N Saint Petersburg, FL	1.0–2.0	1.0	680	$1,150	$1.69	3d	8	1.46mi
3715 66th Ave N Unit B Pinellas Park, FL	2.0	1.0	750	$1,475	$1.97	22d	1	1.46mi
4163 31st St N unit Unit D Saint Petersburg, FL	1.0	1.0	600	$1,490	$2.48	14d	1	1.47mi
3791 58th Ave N Unit 3 St. Petersburg, FL	1.0	1.0	500	$1,430	$2.86	18d	1	1.47mi
375 54th Ter N St. Petersburg, FL	1.0–2.0	1.0–2.0	966	$2,375	$2.46	2d	13	1.49mi
1051 79th Ave N #107 Saint Petersburg, FL	1.0	1.5	720	$1,495	$2.08	18d	1	1.49mi

HOA detail condo

• Monthly dues: $481 · $5,772/yr
• Likely covers: watersewergasparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $50,000 Active 291 DOM
2. 2026-06-17
   days on market $50,000 Active 290 DOM
3. 2026-06-16
   days on market $50,000 Active 289 DOM
4. 2026-06-15
   days on market $50,000 Active 288 DOM
5. 2026-06-13
   days on market $50,000 Active 286 DOM
6. 2026-06-09
   days on market $50,000 Active 282 DOM
7. 2026-06-08
   days on market $50,000 Active 281 DOM
8. 2026-06-07
   days on market $50,000 Active 280 DOM
9. 2026-06-04
   days on market $50,000 Active 277 DOM
10. 2026-06-03
    days on market $50,000 Active 276 DOM
11. 2026-06-01
    days on market $50,000 Active 274 DOM
12. 2026-05-31
    remarks 685-char remark
13. 2026-05-31
    pricedays on market $50,000 Active 273 DOM
14. 2026-04-23
    status Active
15. 2026-04-14
    status Pending
16. 2026-02-28
    price $60,000
17. 2026-02-28
    status Active
18. 2026-02-21
    status Pending
19. 2026-01-24
    price $68,000
20. 2025-11-11
    price $72,500
21. 2025-08-15
    listed $75,000 Active
22. 2008-04-24
    soldstatus $27,900
23. 1991-11-04
    soldstatus $30,000
24. 1989-08-30
    soldstatus $29,000
25. 1988-10-27
    soldstatus $29,000

ⓘ 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: $1,273 · $106/mo
• Projected year-2 tax: $1,273 · $106/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,795
• − Mortgage interest: −$2,801
• − Property taxes: −$1,273
• − Insurance: −$250
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − HOA: −$5,772
• − Depreciation: −$1,455
• Taxable income: $2,557
• Est. tax owed @ 24.0%: −$614
• After-tax cash flow: $2,212/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

+106.9% since first listed

12 events — show timeline

• 2026-04-23 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-28 Price Changed $60,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-24 Price Changed $68,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-11 Price Changed $72,500 Stellar MLS as Distributed by MLS Grid
• 2025-08-15 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2008-04-24 Sold (Public Records) $27,900 Public Records
• 1991-11-04 Sold (Public Records) $30,000 Public Records
• 1989-08-30 Sold (Public Records) $29,000 Public Records
• 1988-10-27 Sold (Public Records) $29,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,273 · +2.5% YoY. Source: county tax records.