St. Pete CBS 3/2 w/ 1,200 SF

1959 CBS, 1,200 SF, 3/2, slab, 7,915 SF lot. 2024 AC — new. Roof needs replacement. Full cosmetic gut needed. No garage. Located in Disston Heights, western St. Pete 33709. Market is running: 4.2 months inventory, 8 median DOM, 99.3% sold to list as of March 2026.

Property Assets:

• 2024 AC is done. $6,000 to $8,000 in scope already handled. The remaining cap-ex is roof plus cosmetics.
• Disston Heights moves product. 8 median DOM and 99.3% sold to list. This market doesn’t sit.
• 1,200 SF is the sweet spot. Highest volume size band in 33709 per RPR closed sales data.
• 7,915 SF lot. Above average for St. Pete.

Repairs (Estimate):

• Roof: Full replacement, 1959 vintage. Budget $10,000 to $13,000.
• Kitchen: Full gut — shaker cabs, quartz, stainless, island if layout allows. Budget $12,000 to $15,000.
• Bathrooms (2): Full remodel — tile showers, new vanities, fixtures. Budget $8,000 to $12,000.
• Flooring: LVP throughout (~1,200 SF). Budget $4,500 to $6,000.
• Interior Paint: Budget $2,500 to $3,500.
• Exterior Paint: Budget $2,500 to $3,500.
• Electrical: Verify panel — Zinsco and Federal Pacific must be replaced for insurance. Budget $1,500 to $2,500 for swap; more if wiring needs work.
• Plumbing: Camera scope cast iron sewer lines during diligence. Collapsed slab line = $8K to $20K. Budget $1,500 to $3,500 for selective repairs.
• Landscaping, permits, contingency

🟣 Comparable Sales 

1. 4496 58th St N, Kenneth City | 3/2 | 1,175 SF | $380,000 Closed ($323/SF) — Oct 2025. 0.56 mi E. Professionally renovated CBS, 1-car garage. 37 DOM. Closest direct comp to finished product — nearly identical size, same era, same market tier.
2. 3701 60th St N | 3/2 | 1,304 SF | $370,000 Closed ($284/SF) — Feb 2026. 0.33 mi SE. Fully updated. 177 DOM with $10K concessions. Larger SF pulls per-foot down. Floor comp for a renovated 3/2.
3. 5840 41st Ave N | 2/1 | 1,056 SF | $320,000 Closed ($303/SF) — Dec 2025. 0.42 mi E. New roof and AC, move-in ready. Sold in 3 days. Best reference for how fast updated product moves in this zip.
4. 5851 44th Ave N | 2/1 | 920 SF | $312,500 Closed ($340/SF) — Feb 2026. 0.48 mi E. Partial refresh, 95 DOM, $3K concession. Even inferior product clears $300K here.

🟡 ARV & Rental Analysis

$380K comp at 1,175 SF ($323/SF) is the direct target. Subject at 1,200 SF renovated to the same standard lands within $5K to $10K. Applying $305 to $320/SF gives $366K to $384K. A strong finish pushes toward $395K to $400K. No garage is a $5K to $10K discount relative to the Kenneth City comp. Conservative underwriting is $375K.

Estimated ARV: $375,000 to $395,000

Projected Rent: $2,400 to $2,600/mo