5967 Terrace Park Dr N #104 · West Lealman, FL 33709

$114,500

2 bd · 2.0 ba · 830 sqft · Condo public records · 60 Days on market

Built 1977 $772/mo HOA · 43% of rent

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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).

• 1% rule +10.0/10.0
• Cash flow +9.8/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! Ground Floor Beautifully updated, Clean, Light & Bright 2 bedroom 2 bath Condo Freshly Painted with New Wood Laminate Flooring Throughout. New Kitchen Cabinets, Countertops & Title Flooring. New Microwave and Dishwasher, New HVAC System. Both bats are updated, new Vanities & Title Flooring. Nice Covered Screen Enclosed porch for relaxing off Master bedroom. Very Convenient Covered Parking & Laundry just steps from unit. This Fantastic Community boasts great amenities: Clubhouse, Heated Pool & Spa, Tennis Courts, Fitness, Billiard Room Etc. Convenient to Shopping, Restaurants and Beaches!

Key facts

• Ground floor condo
• 5 towns community
• Gas range

Tags

• GROUND FLOOR CONDO
• GAS RANGE
• OUTDOOR GRILLING CANOPY
• MASSIVE SWIMMING POOL
• 5 TOWNS COMMUNITY

Property features AI

Finance

• Other: Directions: From 54th Avenue N to 80th Street, the Five Towns entrance. Turn right at 58th Avenue North and follow the road which will curve to the left and become Terrace Park Drive. Bedford is the second building on the right.
• Financial info: Total annual fees: $9,264; Lease restrictions apply
• HOA & community: Has HOA (Qualified Property Management) — monthly association fee required; Monthly condo/HOA fee: $772; Association fee includes: pool, recreational facilities, maintenance (structure and grounds), sewer, water, trash, gas, escrow reserves fund; Association approval required; Community features: clubhouse, pool, association-owned recreation, deed restrictions, street lights, buyer approval required; Senior community; Dogs allowed

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Cable available; Electricity available; Natural gas connected; Sewer connected; Water connected
• Home design: Condominium; Residential property; One story; Faces north; Second-floor unit (floor 2)
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building name: BEDFORD; Built as multi-family condominium
• Exterior features: Lighting; Sidewalk; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan; Living room/dining room combo; Window treatments
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (21.5% below list).
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $90k (21.5% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 1.8% in West 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 (#84 in FL, #1,396 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities 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 flat; 309 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% 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 $792 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 60 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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: flood insurance adds $66/mo; HOA is 43% of rent.
• Climate carrying-cost: severe flood risk; 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 $89,903 (21.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.55% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 5.4

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: -29.5%
• Equity multiple: 0.05×
• Total profit: $-30,456
• Equity at exit: $17,072

10-year hold

• IRR: -58.2%
• Equity multiple: -0.55×
• Total profit: $-49,840
• Equity at exit: $9,900

Cash invested: $32,060 (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: 309
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$600
• Tax from tax record: −$56 /mo · $677/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$772
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-139

Break-even live

Break-even rent $1,953

Max offer price $89,903

Occupancy floor —

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5980 80th St N #205 St Petersburg, FL	2.0	2.0	1100	$1,950	$1.77	4d	1	0.17mi
5725 80th St N #210 Saint Petersburg, FL	2.0	2.0	1125	$1,900	$1.69	24d	1	0.17mi
5750 80th St N St Petersburg, FL	1.0–2.0	1.0–1.5	987	$1,800	$1.82	24d	2	0.26mi
5521 80th St N #312 Saint Petersburg, FL	1.0	1.0	1055	$1,500	$1.42	4d	1	0.27mi
5530 80th St N Unit C204 Saint Petersburg, FL	1.0	1.0	880	$1,450	$1.65	24d	1	0.33mi
5357 81st St N #14 Saint Petersburg, FL	2.0	2.0	1110	$1,550	$1.40	24d	1	0.38mi
5287 81st St N #26 Saint Petersburg, FL	2.0	2.0	1010	$1,500	$1.49	4d	1	0.42mi
5217 81st St N #22 Saint Petersburg, FL	2.0	1.0	1010	$1,700	$1.68	24d	1	0.47mi
7249 Parkside Villas Dr N Saint Petersburg, FL	2.0	2.0	956	$1,950	$2.04	24d	1	0.47mi
7238 55th Ave N Saint Petersburg, FL	2.0	2.0	1085	$1,899	$1.75	18d	1	0.48mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	0.54mi
7140 55th Ave N Saint Petersburg, FL	3.0	2.0	1085	$2,000	$1.84	22d	1	0.56mi
6468 Bonnie Bay Cir N Pinellas Park, FL	2.0	2.0	970	$1,800	$1.86	14d	1	0.58mi
6366 71st St N Pinellas Park, FL	2.0	2.0	970	$2,200	$2.27	24d	1	0.62mi
5411 70th Ln N Saint Petersburg, FL	2.0	1.0	600	$1,800	$3.00	24d	1	0.66mi
8002 48th Ave N Saint Petersburg, FL	1.0	1.0	1050	$2,000	$1.90	3d	1	0.71mi
7317 46th Ave N Unit 4 St. Petersburg, FL	1.0	1.0	528	$1,200	$2.27	14d	1	0.84mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	18d	1	0.87mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.87mi
5136 68th St N Unit C St. Petersburg, FL	2.0	1.0	957	$1,700	$1.78	4d	1	0.92mi
4711 Sunnydale Ln N Unit A St. Petersburg, FL	2.0	1.0	800	$1,750	$2.19	24d	1	1.00mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	1.03mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	1.08mi
4390 68th St N Saint Petersburg, FL	3.0	1.0	864	$1,950	$2.26	24d	1	1.19mi
6524 54th Ave N Unit 2 St. Petersburg, FL	2.0	1.0	840	$1,360	$1.62	24d	1	1.21mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	2d	10	1.22mi
3855 39th Ave N St Petersburg, FL	2.0	2.5	1100	$1,850	$1.68	22d	1	1.27mi
9071 47th Ave N St. Petersburg, FL	2.0	2.0	1100	$2,000	$1.82	24d	1	1.45mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,300	$2.08	2d	1	1.47mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,400	$2.24	24d	1	1.47mi
7701 Starkey Rd Largo, FL	1.0	1.0	615	$1,600	$2.60	15d	5	1.50mi

HOA detail condo

• Monthly dues: $772 · $9,264/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $114,500 Active 60 DOM
2. 2026-06-17
   days on market $114,500 Active 59 DOM
3. 2026-06-16
   days on market $114,500 Active 58 DOM
4. 2026-06-15
   days on market $114,500 Active 57 DOM
5. 2026-06-13
   statusdays on market $114,500 Active 55 DOM
6. 2026-06-08
   status $114,500 Pending 51 DOM
7. 2026-06-07
   days on market $114,500 Active 51 DOM
8. 2026-06-04
   days on market $114,500 Active 48 DOM
9. 2026-06-03
   days on market $114,500 Active 47 DOM
10. 2026-06-01
    days on market $114,500 Active 45 DOM
11. 2026-05-31
    days on market $114,500 Active 44 DOM
12. 2026-04-17
    listed $114,500 Active
13. 2018-10-16
    soldstatus $105,000
14. 2018-10-12
    soldstatus $105,000 Sold 630-char remark

    Show marketing remark (630 chars)

    WOW! Ground Floor Beautifully updated, Clean, Light & Bright 2 bedroom 2 bath Condo Freshly Painted with New Wood Laminate Flooring Throughout. New Kitchen Cabinets, Countertops & Title Flooring. New Microwave and Dishwasher, New HVAC System. Both bats are updated, new Vanities & Title Flooring. Nice Covered Screen Enclosed porch for relaxing off Master bedroom. Very Convenient Covered Parking & Laundry just steps from unit. This Fantastic Community boasts great amenities: Clubhouse, Heated Pool & Spa, Tennis Courts, Fitness, Billiard Room Etc. Convenient to Shopping, Restaurants and Beaches!

15. 2018-09-18
    status Pending 630-char remark

    Show marketing remark (630 chars)

    WOW! Ground Floor Beautifully updated, Clean, Light & Bright 2 bedroom 2 bath Condo Freshly Painted with New Wood Laminate Flooring Throughout. New Kitchen Cabinets, Countertops & Title Flooring. New Microwave and Dishwasher, New HVAC System. Both bats are updated, new Vanities & Title Flooring. Nice Covered Screen Enclosed porch for relaxing off Master bedroom. Very Convenient Covered Parking & Laundry just steps from unit. This Fantastic Community boasts great amenities: Clubhouse, Heated Pool & Spa, Tennis Courts, Fitness, Billiard Room Etc. Convenient to Shopping, Restaurants and Beaches!

16. 2018-09-12
    listed $109,900 Active 630-char remark

    Show marketing remark (630 chars)

    WOW! Ground Floor Beautifully updated, Clean, Light & Bright 2 bedroom 2 bath Condo Freshly Painted with New Wood Laminate Flooring Throughout. New Kitchen Cabinets, Countertops & Title Flooring. New Microwave and Dishwasher, New HVAC System. Both bats are updated, new Vanities & Title Flooring. Nice Covered Screen Enclosed porch for relaxing off Master bedroom. Very Convenient Covered Parking & Laundry just steps from unit. This Fantastic Community boasts great amenities: Clubhouse, Heated Pool & Spa, Tennis Courts, Fitness, Billiard Room Etc. Convenient to Shopping, Restaurants and Beaches!

17. 2018-01-23
    historical
18. 2018-01-12
    listed $88,000 Active
19. 1996-02-14
    soldstatus $30,000
20. 1986-06-16
    soldstatus $40,000
21. 1986-06-01
    soldstatus $40,000
22. 1984-10-01
    soldstatus $36,000

ⓘ 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: $677 · $56/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$273/yr (+$23/mo · 40.3%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $21,324
• − Mortgage interest: −$6,414
• − Property taxes: −$677
• − Insurance: −$1,370
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$9,264
• − Depreciation: −$3,331
• Taxable loss: −$3,144
• Est. tax savings @ 24.0%: +$755
• After-tax cash flow: $-916/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 — West Lealman

• Score: 81/100
• State rank: #84
• US rank: #1396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 25,371
• 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

+218.1% since first listed

11 events — show timeline

• 2026-04-17 Listed $114,500 Stellar MLS as Distributed by MLS Grid
• 2018-10-16 Sold (Public Records) $105,000 Public Records
• 2018-10-12 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2018-09-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-09-12 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2018-01-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-01-12 Listed $88,000 Stellar MLS as Distributed by MLS Grid
• 1996-02-14 Sold (Public Records) $30,000 Public Records
• 1986-06-16 Sold (Public Records) $40,000 Public Records
• 1986-06-01 Sold (Public Records) $40,000 Public Records
• 1984-10-01 Sold (Public Records) $36,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $677 · +8.9% YoY. Source: county tax records.