1909 19th St S, Saint Petersburg, FL 33712 — 23.5% Cash-on-Cash

About this property

1909 19th St S is a single-family property in Saint Petersburg, FL 33712 — a three-bedroom, one-bath layout spanning 1,224 square feet on a 7,479-square-foot lot.

The interior is organized around a living area that opens into a separate dining space, keeping the floor plan functional without wasted square footage. The kitchen sits adjacent to the main living areas, a practical arrangement for a rental tenant. Bedrooms are sized to make full use of the 1,224-square-foot footprint.

The lot at 7,479 square feet gives the property meaningful outdoor space relative to its building size. The listing notes proximity to major roadways, downtown St. Petersburg, and Gulf beaches — all confirmed in the listing description rather than inferred.

After 38 days on market, the listing has already absorbed a $5,000 price reduction from its original ask. The tax-assessed value sits at $106,025 against a $194,999 list price — a gap that reflects either recent appreciation or an assessor lag, but either way signals the property isn't being sold at distressed pricing. It's currently non-owner occupied, which means no tenant displacement risk on acquisition.

The investment case

The numbers here are unusually strong for a sub-$200K acquisition: a 23.5% cash-on-cash return against a city average of 4.6%, and $763 in monthly cash flow after all carrying costs.

List Price

$194,999

Monthly Payment (PITI+HOA)

$1,358

Principal & Interest

$999

Property Tax

$294

Insurance

$65

HOA

$0

PMI

$0

Est. Monthly Rent

$2,121

Estimated rent based on automated valuation of comparable listings.

Cash-on-Cash Return

23.5%

Cap Rate

12.7%

Monthly Cash Flow

$763

Gross Rent Multiplier

7.7

DSCR

2.1

At a $194,999 purchase price with 20% down and a 6.52% 30-year fixed rate, total monthly carrying costs come to $1,358 — principal and interest at $999, property tax at $294, and insurance at $65. No HOA, no PMI. Estimated monthly rent of $2,121 leaves $763 in monthly cash flow before depreciation and maintenance reserves.

The cap rate of 12.7% and net operating income of $2,056/month are the metrics that stand out most for a cash buyer or a leveraged buyer stress-testing the deal. A debt service coverage ratio of 2.1 means the property generates more than twice what's needed to cover the mortgage — meaningful cushion if rent softens or vacancy extends.

The gross rent multiplier of 7.7 is low. At the city median listing price of $375,000, a comparable GRM calculation would require substantially higher rents to match this deal's income-to-price ratio. This property is priced at roughly 52% of the city median while targeting a rent that's plausible for the zip.

The 23.5% cash-on-cash return is 2.7x the ZIP 33712 average of 8.8% and more than 5x the city-wide average of 4.6%. That gap doesn't happen by accident — it reflects a below-median acquisition price combined with a rent estimate that holds up relative to the area. Figures exclude depreciation tax benefits, which vary by individual tax situation.

5-year return outlook

The projected 42.1% total five-year ROI breaks into three components, with cash flow doing most of the work.

Cash flow contributes 23.5 percentage points of the 42.1% total — the dominant driver by a wide margin. Mortgage paydown adds 4.7 points as principal reduces over the holding period. Appreciation contributes an estimated 14.0 points, based on an estimated annual appreciation rate of approximately 2.8% for the Saint Petersburg market.

Because that appreciation figure is an estimate rather than a data-verified trailing average, it's the component with the most uncertainty. A buyer who stress-tests the deal at zero appreciation still clears a 28.2% five-year return from cash flow and paydown alone — a floor that holds up well against most alternative assets at this price point.

The cash flow component's dominance is what separates this deal structurally from appreciation-dependent plays. Properties priced near the city median of $375,000 typically rely more heavily on price gains to justify the investment; here, the income yield is strong enough to carry the return even in a flat market.

With cash flow accounting for over half the projected five-year return, this deal's performance is less sensitive to market timing than most Saint Petersburg listings at higher price points.

How it compares to nearby for-sale listings

Five active for-sale listings in ZIP 33712 with three bedrooms provide a pricing anchor — and 1909 19th St S sits well below the group's median.

The for-sale comp median in the zip is $350,000. At $194,999, this property is priced 44% below that median. Even the lowest comp in the set — a 1,001-square-foot property at $170,000 — is smaller, and the next closest is $324,000 on 1,040 square feet.

On a price-per-square-foot basis, this property comes in at roughly $159/sqft. The $375,000 comp at 1,200 square feet works out to $313/sqft; the $449,000 listing at 1,192 square feet is $377/sqft. The discount is substantial and consistent across the comp set.

Days on market across comps range from 9 to 87 days. At 38 days with a $5,000 price reduction already taken, this listing is mid-range in terms of market time — not a distressed quick-flip situation, but not sitting ignored either. The price cut suggests the seller has some motivation, which is relevant context for a buyer considering an offer below ask.

The comp set also skews toward two-bath properties; this listing has one bath, which likely accounts for part of the price gap. That's a real limitation for some tenant profiles, but it doesn't change the income math at the current ask.

Rental demand in this zip

Rental comp data for three-bedroom properties in ZIP 33712 is limited, which introduces uncertainty into the rent estimate underpinning this deal's cash flow.

The estimated monthly rent of $2,121 is the figure driving the $763 cash flow and 23.5% cash-on-cash return. With zero comparable rentals identified in ZIP 33712 for this bedroom count, that estimate can't be cross-validated against active market listings in the immediate area.

That's the most significant data gap in this deal's underwriting. A buyer should independently pull current rental listings in the 33712 and adjacent zips before closing on the rent assumption. If actual achievable rent comes in at $1,800 instead of $2,121, monthly cash flow drops to roughly $442 and the CoC return falls closer to 14% — still well above the city average, but a materially different deal.

On the other hand, the property is non-owner occupied, which suggests it has been used as a rental. If a current lease or rental history is available through the seller, that's the most direct validation available. The 1,224-square-foot three-bedroom layout in a market with access to beaches and downtown is a tenant-friendly profile; the single-bath constraint is the most likely friction point in leasing.

The rent estimate is plausible but unverified by local comps — confirming achievable rent before acquisition is the single most important diligence step on this deal.

Who this property suits + risks to weigh

This property fits a cash-flow-focused investor who wants strong yield at a low entry price and can absorb the risk of a single-bath layout and an unverified rent estimate.

Best fit

The deal's profile — sub-$200K acquisition, 12.7% cap rate, 2.1 DSCR — is well-suited to a buy-and-hold investor prioritizing income over appreciation. The low price point means a smaller down payment and faster capital recovery. At 23.5% CoC, the deal also works for an investor building a multi-property portfolio where each asset needs to carry itself from day one.

The non-owner-occupied status is a practical advantage: the property is already positioned as a rental, and there's no owner to relocate before leasing. A landlord comfortable managing a single-bath, three-bedroom property in a working-class rental market will find the numbers compelling.

Risks to weigh

The single bathroom is the clearest structural limitation. It narrows the tenant pool and could extend vacancy periods, particularly if competing rentals in the area offer two baths at similar price points. A single bath also reduces resale flexibility if the investor eventually wants to exit to an owner-occupant buyer.

The rent estimate of $2,121/month has no local comp support — zero comparable rentals were identified in ZIP 33712. That's not a deal-killer, but it means the cash flow projections rest on an assumption rather than observed market data. The $5,000 price reduction after 38 days on market is a minor flag worth noting; it's not alarming, but it suggests the original ask wasn't clearing the market.

The tax-assessed value of $106,025 against a $194,999 purchase price may trigger a reassessment after sale, potentially increasing the property tax line above the $294/month currently modeled. Florida's Save Our Homes cap applies to homestead properties; a non-homestead rental doesn't benefit from that protection.