St. Pete Block 4/1 Flip

Built in 1968, this concrete block single-family home is a 4 bed / 1 bath with 1,137 sq. ft. of living area on a 5,502 sq. ft. lot in South St. Petersburg. The property will be vacant at closing, is located in Flood Zone X, and needs a full renovation. Highest and best use is to complete a full interior/exterior rehab, clean up the garage conversion, and add a second bathroom to create a more marketable 4/2 resale product.

House Assets:

• Flood Zone X. A major St. Pete selling feature, helping reduce buyer insurance concerns compared with nearby flood-zone inventory.
• Concrete block construction. Preferred Florida construction type for durability, storm resistance, and buyer confidence.
• 4-bedroom layout. The converted garage gives the home bedroom utility that many competing renovated homes in this price band do not have.
• Add-a-bath upside. Adding a second bathroom is the key value-add move and should materially improve resale demand.
• Vacant at close. No tenant coordination required, allowing rehab to begin immediately after closing.

Repairs Needed (Estimated):

• Second bathroom addition: Add full bath, plumbing rough-in, framing, finishes, vanity, toilet, tile, and fixtures.
• Existing bathroom: Full gut to match retail finish level.
• Kitchen: Full gut with shaker cabinets, quartz or granite counters, stainless appliances, sink/faucet, lighting, and backsplash.
• Flooring: Install LVP throughout the living areas and bedrooms.
• Interior drywall, ceilings, paint, trim: Repair walls/ceilings, full paint, doors, trim, hardware, and fixtures.
• Roof/HVAC: Verify age and condition; budget for replacement or major service to support retail resale.
• Electrical/plumbing: Update panel/fixtures as needed, support new bathroom, verify water heater and drain lines.
• Windows/doors: Update selectively or fully depending condition and resale target.
• Exterior/curb appeal: Exterior paint, trim/soffit/fascia repairs, pressure wash, landscaping, and yard cleanup.

🟣 Comparable Sales

1. 2534 22nd St S | 3/2 | 1,156 SF | $366,000 Closed Jan 2026 ($317/SF). Strong near-size ARV anchor. Fully updated block/stucco home with remodeled kitchen, LVP flooring, updated systems, no garage, and a semi-main-road location. Supports mid-$300Ks resale for renovated 2-bath product close to the subject’s size.
2. 2231 Lamparilla Way S | 4/2 | 1,502 SF | $435,000 Closed Jan 2026 ($290/SF). Fully renovated 4/2 block home with a larger footprint and large lot. Superior size and finish, but useful as the top-end ceiling for renovated 4/2 product.
3. 2322 21st St S | 3/1 | 993 SF | $355,000 Closed Aug 2025 ($358/SF). Renovated block home on a large lot. Inferior bath count and smaller footprint, but it shows strong buyer demand for updated homes in this pocket.
4. 2326 Auburn St S | 3/2 | 1,101 SF | $325,000 Closed Dec 2025 ($295/SF). Renovated 3/2 sale close to the subject. Slightly smaller and one fewer bedroom than the target 4/2 layout, giving solid lower-to-mid ARV support.
5. 2827 16th Ave S | 4/2 | 1,296 SF | $405,000 Active ($312/SF). Active listing only, but useful as current market ceiling support for a fully remodeled 4/2 near the subject’s size.
6. 2710 22nd Ave S | 1 Bath | 1,083 SF | $258,000 Closed Oct 2025 ($238/SF). Lower support/floor comp for smaller one-bath product. Not ARV support for a renovated 4/2.

🟡 ARV & Rental Analysis

Estimated ARV: $360,000 to $380,000 +/-

Projected Rent: $2,300 to $2,600/mo +/-