2563 13th Ave S, Saint Petersburg, FL 33712 — 23.5% Cash-on-Cash

About this property

A move-in ready single-family property in Saint Petersburg, FL, this 3-bedroom, 2-bath home spans 1,338 square feet on a 3,223-square-foot lot.

The listing highlights several upgrades that matter to a buy-and-hold investor: granite countertops and updated cabinetry in the kitchen, a primary bath with a tiled walk-in shower and granite vanity, and tile flooring through the main living areas. These aren't cosmetic gestures — they reduce near-term capital expenditure risk, which matters when you're underwriting cash flow from day one.

The property carries a non-owner-occupied status in public records, suggesting it has functioned as a rental before. The lot is compact at 3,223 square feet, limiting outdoor liability but also landscaping costs. No HOA fees apply.

One flag worth registering: 215 days on market is long, and the listing has absorbed a $10,000 price cut. The seller is cash-buyers-only, which narrows the buyer pool but also signals motivated pricing. The tax-assessed value sits at $284,270 — roughly $35K above the ask — which is an unusual inversion that may reflect assessment timing rather than market reality, but it's a data point to understand before closing.

The investment case

At $249,000 with an estimated $2,712 monthly rent, this property generates $977 in monthly cash flow after a $1,735 total payment — a 23.5% cash-on-cash return that runs nearly three times the Saint Petersburg city average of 4.6%.

List Price

$249,000

Monthly Payment (PITI+HOA)

$1,735

Principal & Interest

$1,276

Property Tax

$376

Insurance

$83

HOA

$0

PMI

$0

Est. Monthly Rent

$2,712

Estimated rent based on automated valuation of comparable listings.

Cash-on-Cash Return

23.5%

Cap Rate

12.7%

Monthly Cash Flow

$977

Gross Rent Multiplier

7.7

DSCR

2.1

The numbers here are genuinely unusual for this market. A 12.7% cap rate on a single-family in Saint Petersburg is well above what most ZIP 33712 listings produce, and the 23.5% cash-on-cash return is the highest in the ZIP against an 8.8% ZIP average. The city average sits at 4.6%, making this property's return roughly five times the broader Saint Petersburg baseline.

The debt service coverage ratio of 2.1 means rental income covers the mortgage payment more than twice over — a cushion that gives an investor meaningful room if rent comes in below estimate or vacancy runs longer than expected. The gross rent multiplier of 7.7 is low, indicating the purchase price is modest relative to annual rent potential.

Net operating income is projected at $2,629 per month. Monthly costs break down to $1,276 in principal and interest at the prevailing 6.52% 30-year fixed rate, $376 in property taxes, and $83 in insurance. No PMI, no HOA. The effective property tax rate of 1.81% is the one line item that deserves attention — it's not negligible, and at $376 monthly it's the second-largest cost after the mortgage.

Figures exclude depreciation tax benefits, which vary by individual tax situation.

The cash-flow math is strong at asking price; the cash-buyers-only requirement means the financing assumptions above are illustrative for comparison, but the underlying yield holds regardless of how the deal is structured.

5-year return outlook

The projected 42.2% total 5-year ROI breaks into three components, with cash flow doing the majority of the work.

Cash flow accounts for 23.5 percentage points of the 42.2% total return — the dominant driver by a wide margin. Mortgage paydown contributes 4.7 points, a steady but modest equity build. Appreciation adds an estimated 14.0 points, based on an approximately 2.8% annual appreciation rate for Saint Petersburg — this figure is an estimate, not a market-data-derived certainty, and should be treated as a soft assumption rather than a hard projection.

The practical implication: this deal doesn't depend on appreciation to pencil. Even if property values in 33712 flatline over five years, the cash flow and paydown components alone produce a return that outpaces most alternative investments. That's a structurally sound setup — appreciation is upside, not a load-bearing assumption.

The risk to the five-year case is rent softness. If the $2,712 monthly estimate runs 10-15% high, cash flow compresses materially and the total ROI picture shifts. With zero rental comps currently available in ZIP 33712 for 3-bedroom properties, that estimate carries more uncertainty than a market with deep comp data would.

How it compares to nearby for-sale listings

Five active 3-bedroom listings in ZIP 33712 provide a pricing frame, with a median of $324,000 against this property's $249,000 ask.

At $249,000, this property is priced $75,000 below the for-sale comp median of $324,000 — a 23% discount. On a per-square-foot basis, the picture sharpens further: at roughly $186/sqft across 1,338 square feet, this property undercuts comps that range from $170/sqft to $377/sqft depending on condition and location within the ZIP.

The comp set is worth examining on days-on-market as well. The two highest-priced listings — $375,000 and $449,000 — have been on market for 9 and 16 days respectively, suggesting demand exists at the upper end of the ZIP. The $170,000 listing at 34 days and the $194,999 listing at 38 days occupy the distressed or condition-impaired tier. At 215 days, this property sits in its own category: priced in the middle of the range but lingering far longer than any comp.

That DOM gap is the question the comps raise. It's not explained by price alone — the property is below median. The cash-buyers-only restriction is the most plausible structural explanation, since it eliminates the majority of potential buyers who would rely on conventional financing.

Rental demand in this zip

Estimated monthly rent for this property is $2,712, but zero active rental comps exist in ZIP 33712 for 3-bedroom properties, which limits the precision of that figure.

The absence of comparable rentals in the ZIP is a real underwriting constraint. The $2,712 rent estimate is a modeled figure, not a market-tested one, and investors should treat it accordingly. That doesn't make the estimate wrong — it means the confidence interval is wider than it would be in a ZIP with 10 or 15 active comps to anchor against.

What the financial structure does provide is downside framing. At the projected rent, monthly cash flow is $977 and the DSCR is 2.1. If actual achievable rent comes in at $2,400 — roughly 12% below estimate — cash flow drops to around $665 but the property still covers its costs with room to spare. A more severe 20% haircut to $2,170 would compress cash flow to roughly $435, still positive but no longer the headline number.

The property's interior condition — updated baths, granite finishes, tile throughout — supports a premium rent positioning relative to older or unimproved stock in the area. That's a qualitative offset to the missing comp data, though it doesn't substitute for market validation.

Investors should budget for a 30-60 day lease-up period and consider setting initial rent slightly below the estimate to reduce vacancy risk while the market provides feedback.

Who this property suits + risks to weigh

This property fits a cash-heavy investor who can close without financing and wants immediate, high-yield cash flow rather than a value-add project.

Best fit

The cash-buyers-only requirement is a hard filter — this isn't a deal for anyone relying on a mortgage. For an investor with liquidity, that restriction is actually an advantage: it has kept most buyers out for 215 days, and the seller has already cut the price once. There's negotiating room here that a competitive, financed market wouldn't offer.

The yield profile suits a landlord who wants stabilized income from day one. The property is described as move-in ready with updated systems and finishes, meaning the typical value-add playbook of buying distressed and renovating doesn't apply — and isn't needed. The 23.5% cash-on-cash return is achievable without any additional capital deployment.

Risks to weigh

The rent estimate is the single largest uncertainty. With no active rental comps in ZIP 33712 for this bedroom count, the $2,712 figure is a projection, and the entire cash-flow thesis rests on it. A buyer should do independent rent research before closing, not after.

The 215-day DOM and cash-only restriction together suggest the property has a limited buyer pool — which is fine at closing but could matter at resale. Liquidity risk on exit is real if the next buyer faces the same financing constraints.

The tax-assessed value of $284,270 exceeds the asking price of $249,000. This can sometimes foreshadow a tax reassessment post-sale that pushes the $376 monthly tax line higher. It's worth modeling a scenario where taxes step up toward the assessed value.

No flood insurance is required under current FEMA maps, which removes one cost variable that affects many St. Petersburg properties — a genuine positive in a market where flood exposure is a meaningful underwriting factor.