7240 DR MARTIN LUTHER KING JR STREET S, ST PETERSBURG, FL, 33705
Pending285 days on marketListed Nov 9, 2025MLS #TB8446538
About this home
7240 DR MARTIN LUTHER KING JR STREET S
There are homes… and then there are landmarks. And here, in the timeless beauty of St. Petersburg’s treasured Pinellas Point, stands one of the most captivating waterfront estates on Tampa Bay. Built in 1925, this grand Spanish-Style estate is one of the originals - an enduring piece of our city’s history that has been thoughtfully preserved and masterfully updated for today’s modern coastal lifestyle. Inside, more than 4,400 square feet of refined living space unfolds with grace and purpose. Five bedrooms, six full baths, a formal library, and a stately wood-burning fireplace create an atmosphere of warmth, elegance, and architectural authenticity. The home has been beautifully refreshed with new flooring, interior paint, updated windows and doors, and efficient ductless HVAC systems throughout. Modern convenience meets timeless craftsmanship. Step outside and the world opens up - lush tropical gardens, a sparkling swimming pool, and unbelievable, unobstructed views of Tampa Bay and the iconic Sunshine Skyway Bridge. A custom dock and deck with boat cradle lift extend gracefully into the bay, inviting sunset cruises and early-morning adventures. The property spans over half an acre of gated privacy with custom fencing, an electronic entry gate, an irrigation system on reclaimed water, and a detached three-car garage. This is more than a home - it is a legacy. A rare waterfront estate where history, architecture, and natural beauty converge to tell one magnificent story… and where the next chapter begins.
Facts & features
The home at a glance
5
Bedrooms
6
Bathrooms
4,456
Sqft
0.58 ac
Lot size
3
Garage
1925
Year built
Two
Levels
$594
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$16,738 /mo · 10% down Conventional, 30-yr fixed at 6%
The assumptions
Above the FHA loan limit for our service areas, so Conventional is the default. VA buyers: switch below — $0 down.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
FHA isn’t available at this price — the loan would exceed the $541,287 FHA limit for our service areas.
Estimated payment
$16,738/mo
Includes estimated PMI — it drops off once you reach 20% equity. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs St Petersburg actives
$594 vs $333
Days on market
285 vs 57 typical
Where $594/sqft sits among the 400 St Petersburg actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Greater Pinellas Point
Drive times from this address
Estimated driving times, typical traffic. Data © OpenStreetMap contributors.
Get to know St Petersburg. See the full St Petersburg guide →
Greater Pinellas Point — neighborhood snapshot
Population
17,370
Median age
45
Median income
$64,146
Median home value
$299,751
Avg household
2
Households w/ children
1,896
For the school run
Pinellas County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The St Petersburg market
$380K → $402K
St Petersburg median sold, yr/yr
95.8%
Sale-to-list ratio (12 mo)
224 of 400
St Petersburg actives have cut their price
Median sold price, St Petersburg, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 815% above the ST PETERSBURG 33705 median. See the full St Petersburg market guide →
Paper trail
This home's history
Reality check
What actually sold near 7240 DR MARTIN LUTHER KING JR STREET S
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Apr ’26$2,550,000
6620 COLONY DRIVE S
5 bd · 5.5 ba · 4,884 sqft · $522/sqft · 139 DOM
Sold · Feb ’26$1,345,000
1226 SERPENTINE DRIVE S
4 bd · 3.5 ba · 3,746 sqft · $359/sqft · 67 DOM
Sold · Jun ’26$1,040,000
380 COLONY POINT ROAD S
4 bd · 4.5 ba · 3,477 sqft · $299/sqft · 122 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
John Carpenter
CFO/Broker · CENTURY 21 Edge
Tours, negotiation, and every question about 7240 DR MARTIN LUTHER KING JR STREET S — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 7240 DR MARTIN LUTHER KING JR STREET S — before you fall in love.
See it in person
Schedule a tour
Live availability from John's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
7240 DR MARTIN LUTHER KING JR STREET S FAQs
What would the monthly payment be for 7240 DR MARTIN LUTHER KING JR STREET S?+
With 10% down on a 30-year Conventional loan at 6%, the all-in payment lands around $16,738/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
What are the property taxes on 7240 DR MARTIN LUTHER KING JR STREET S?+
The most recent tax bill on record (2024) was $15,490. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
How does the price compare to other homes in St Petersburg?+
At $2,649,000, this home is listed about 516% above the St Petersburg median of $430,000. The market section on this page shows how the area is trending.
Which schools are assigned to 7240 DR MARTIN LUTHER KING JR STREET S?+
Maximo Elementary School (elementary), Bay Point Middle School (middle), Lakewood High School (high) — Pinellas County School District. Always verify school assignments with the district before relying on them.
The brief
Four things that matter here
01Positioned at the premium end
$2,649,000 runs 815% above the ST PETERSBURG 33705 median — but at 4,456 sqft it's also nearly 3 times the size of the typical St Petersburg listing.
02Waterfront living
This home sits directly on the water — the single scarcest feature in Florida inventory and the strongest long-term value anchor.
03Time on market is leverage
285 days on market against a St Petersburg median of 57 — sellers in this position are usually ready to negotiate.
04The price has already moved
Listed at $2,995,000, now $2,649,000 — a $346K cut. The full history is in the market section below.
Keep looking
Similar homes nearby
Listing courtesy of NEXTHOME SOUTH POINTE · Kent Rodahaver. MLS #TB8446538.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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