Bellecrest Heights 2/1 Full Rehab with Rear Garage, Flood Zone X

Built in 1945, this 929 sq. ft. frame bungalow sits on a 6,373 SF lot in Bellecrest Heights. 2 bed / 1 bath single-story with alley access, a 1-car rear garage, crawlspace foundation, shingle roof, and wall/window cooling. The property needs a full cosmetic and mechanical rehab: roof, HVAC, kitchen, bath, windows, flooring, interior and exterior paint, and site cleanup. No HOA. Flood Zone X.

House Assets:

• No HOA.
• Flood Zone X. Lower flood exposure than many St. Petersburg pockets.
• Bellecrest Heights / west St. Pete location in 33707, with proximity to Gulfport, Pasadena, and the beaches corridor.
• Alley access with 1-car rear garage.

Repairs Needed (Estimate):

• Roof: Full replacement.
• HVAC: Budget full cooling replacement or full central install.
• Kitchen: Full gut and rebuild. Investor-grade shaker cabinets, stone tops, sink, fixtures, and appliances.
• Bathroom: Full gut and rebuild.
• Windows and Exterior Doors: Older. Budget replacement for function, insuranceability, and resale.
• Flooring: Full flooring package throughout.
• Interior Paint: Full walls, ceilings, trim, and drywall prep.
• Exterior Paint / Trim / Porch: Full exterior refresh plus porch and siding trim repair as needed.
• Garage / Alley Side: Cleanup, trim, doors, and exterior repair allowance.
• Landscaping / Cleanup: Overgrowth, haul-off, tree trim, re-bed, and general site cleanup.
• Permits / Dumpster / Contingency: Full rehab carry.

🟣 Comparable Sales

1. 5007 2nd Ave S | 2/1 | 768 SF | $279,900 Closed 5/5/25 ($364/SF). Same immediate pocket, about 0.20 miles from subject. Renovated 2/1 with roof 2019, AC 2021, ductwork 2022, paint, fencing, and shed work. Best direct neighborhood comp, but subject is +161 SF.
2. 4650 Emerson Ave S | 2/1 | 978 SF | $322,500 Closed 3/20/26 ($330/SF). About 0.26 miles east. Similar size and vintage with 1-car garage utility. Listing described it as fully refreshed inside and out. Strong renovated 2/1 comp, but subject is -49 SF and inferior on finish.
3. 5200 6th Ave S | 2/1 | 1,088 SF | $325,000 Closed 3/2/26 ($299/SF). About 0.26 miles southwest. 1971 block home on a 7,336 SF corner lot. Marketed as move-in ready with a clean 4-point. Good support comp, but subject is -159 SF and inferior due to age, construction type, and overall utility.
4. 4327 4th Ave S | 2/1 | 1,021 SF | $355,000 Closed 1/8/26 ($348/SF). About 0.52 miles east. Fully upgraded move-in-ready 2/1 with 2023 roof, HVAC, water heater, doors, windows, and insulation per listing history. Strong renovated ceiling comp, but subject is -92 SF and inferior on systems and finish level.
5. 5048 5th Ave S | 3/2 | 1,068 SF | $299,000 Closed 10/20/25 ($280/SF). About 0.09 miles from subject on the same street. Renovated and very close, but functionally superior as a true 3/2. Subject is -139 SF, -1 bed, -1 bath.
6. 5045 2nd Ave S | 2/1 | 754 SF | $230,000 Closed 7/16/25 ($305/SF). About 0.21 miles from subject. Smaller move-in-ready 2/1 with 2018 roof, newer windows, and newer appliances. Useful lower bracket support. Subject is +175 SF.

🟡 ARV & Rental Analysis

This comp set separates into two usable tiers. Smaller finished 2/1 product in the same immediate pocket closed from $230,000 to $279,900. Better renovated 2/1 homes just outside the immediate pocket closed from $322,500 to $355,000, but those homes were generally larger, had stronger major-system updates, or both. The same-street 3/2 sale at 5048 5th Ave S helps bracket the neighborhood, but it is not a direct substitute for a 929 SF 2/1.

For subject at 929 SF, 2/1, 1945 frame, alley-access lot, fully renovated to a clean investor-grade finish, the best support comes from 5007 2nd, 4650 Emerson, 5200 6th, and 4327 4th.

Estimated ARV: $315,000 to $335,000 +/-

Projected Rent: $2,000 to $2,200/mo +/-