Listing Details for MLS # TB8437866
626 31st Street S, St Petersburg, Fl 33712

Residential Property - Single Family Residence in St Petersburg

Listing Price: $269,900Days on Market: 14

Description of Property

Turnkey Investment Opportunity | Cash-Flowing Single-Family Home in St. Petersburg's Thriving Grand Central | Palmetto Park District Immediate Income. Zero Hassle. Prime Location. Discover a rare, tenant-occupied investment property that combines strong cash flow with recent capital improvements and an established, reliable tenant. This well-maintained 4-bedroom, 1-bathroom single-family home is your gateway to hassle-free passive income in one of St. Petersburg's most desirable and rapidly evolving neighborhoods. Investment at a Glance Monthly Rental Income: $2,372 | Annual Income: $28,464 This property is currently tenant-occupied with a Sec. 8 voucher holder with an annual lease, ensuring government-backed rental payment security and immediate cash flow from day one. No vacancy, no turnover costs, no waiting—just instant returns. Recent Major Capital Improvements Your investment is protected with comprehensive recent updates that minimize future capital expenditures and maximize long-term value: *Newer Roof – Long-term protection and structural integrity *Updated HVAC System – Energy-efficient climate control *Newer Water Heater – Reliable hot water supply These major system upgrades provide peace of mind and reduce maintenance concerns, allowing you to enjoy predictable cash flow without the burden of immediate capital outlays. Why This Investment Stands Out Established Tenancy: Quality tenant already in place with a proven rental history—no tenant placement costs or learning curve. Low Maintenance Profile: Recent updates to all major systems mean fewer repair calls and lower operational expenses. Strong Market Fundamentals: St. Petersburg's 33712 area continues to show consistent property value appreciation, supported by urban revitalization, an expanding job market, and growing cultural attractions. Location, Location, Location Situated in the heart of the vibrant Grand Central District, this property benefits from one of St. Petersburg's most exciting neighborhood transformations. This eclectic area seamlessly blends historic charm with modern urban energy, featuring: Walkable Arts & Culture Scene – Galleries, murals, and creative spaces Trendy Dining & Entertainment – Chef-driven restaurants, craft breweries, and unique boutiques St. Pete Paddle and Social Club – Just blocks away! State-of-the-art indoor facility with 14 pickleball courts, 2 Padel courts, 6 table tennis tables, plus restaurant and bar Jim and Heather Gills YMCA Expansion – Major upgrades, including relocated athletic fields with artificial turf, expanded parking with a 600-space covered garage, and updated amenities Upcoming Whitney Village – Exciting pedestrian-only development featuring 380 apartments, 50 residential units, and 32,000 sq. ft. of retail space—creating a vibrant new community hub Unbeatable Connectivity: 10 minutes to Beach Drive and Downtown St. Pete 20 minutes to award-winning Gulf Coast beaches Under 30 minutes to Tampa International Airport The Bottom Line This is more than just a rental property—it's a fully optimized income-generating asset in a high-growth market. With $2,372 in monthly cash flow, major systems already updated, an established tenant providing stability, and a location positioned in the path of St. Petersburg's continued revitalization, this home represents an exceptional opportunity to acquire a quality investment that performs from day one.The average asking price for a 4 bedroom/1 bath single family residence in this Zip code is $319,950. This single family residence is listed at about 84% of the average asking price. This is the only 4 bedroom/1 bath single family residence between $200,000 and $300,000 currently listed for sale in this Zip code.