1257 Drew St #15 · Clearwater, FL 33755

$99,000

1 bd · 1.0 ba · 640 sqft · Condo public records · 408 Days on market

Built 1964 $456/mo HOA · 32% of rent

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.6/30.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FIRE SALE!! Good Investment Condo or keep for your self. This co-op condo is conveniently located in a quiet area of Clearwater convenient to getting downtown, St. Pete College and Clearwater Beach. It sits across from Clearwater Public Golf Course and is also on 3 bus line stops. Laundry facilities on property. Monthly maintenance fee includes land lease, building insurance, maintenance, garbage and water. Pay for electric and internet and move in. Owner financing is an option, with 25% down, if cash or conventional loan is not available. Seller is very motivated. Condo is being sold As-Is, unfurnished. Furniture does not convey but could be negotiated outside of contract if wanted. Good investment - Buy 2 condos-#3 and #15 are both for sale by the same owner.

Key facts

• New stove
• New vanity
• Large picture window

Tags

• UPDATED KITCHEN
• NEW REFRIGERATOR
• NEW STOVE
• NEW VANITY
• FRESHLY PAINTED LIVING ROOM
• LARGE PICTURE WINDOW

Property features AI

Finance

• Other: Lease/restrictions apply
• Financial info: Total monthly fees shown as $456.12; total annual fees $5,473.44
• HOA & community: Monthly HOA fee of $456.12; fee includes cable TV, insurance, maintenance (structure and grounds), sewer, trash and water; Association required with buyer approval; Association name: Holiday Isles / Kathy Taylor; Buyer approval required; pets allowed (cats OK, size limits)

Exterior

• Parking: Guest parking in front of the building
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Sewer connected; Water connected
• Home design: Condominium; 2-story building; unit on 2nd floor; Faces west; Completed condition
• Construction: Block, brick and stucco construction; Shingle roof; Block foundation; Built as part of Kenwood Garden Apts.
• Exterior features: Storage; Other exterior features

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom (located on 2nd floor)
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room/dining room combo; Total of 5 rooms
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $41 ($496/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.9% in Clearwater — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#60 in FL, #988 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Belleair Elementary School (math 54% / reading 45%, grade D, #1,088 of 2,144 statewide, top 53%, 472 students, 81% FRL); Clearwater High School (math 30% / reading 36%, grade F, #406 of 667 statewide, top 61%, 1,664 students, 59% FRL) — zoned schools average 70% FRL vs 48% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.2%/yr); 261 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 408 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $16k; list at $99k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 408 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.79%
• DSCR: 1.08
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.37×
• Total profit: $-17,353
• Equity at exit: $14,761

10-year hold

• IRR: -25.8%
• Equity multiple: 0.03×
• Total profit: $-26,911
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33755

• Rents YoY: -2.2%
• Active inventory: 261
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$519
• Tax from tax record: −$80 /mo · $958/yr
• Insurance: −$41
• HOA: −$456
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $41

Break-even live

Break-even rent $1,388

Max offer price $99,000

Occupancy floor 92%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1221 Drew St Unit A21 Clearwater, FL	2.0	1.0	705	$1,300	$1.84	2d	1	0.07mi
1221 Drew St Clearwater, FL	1.0	1.0	777	$1,600	$2.06	22d	1	0.07mi
1233 Grove St Clearwater, FL	1.0	1.0	540	$1,350	$2.50	24d	1	0.11mi
124 N Jefferson Ave Unit 5 Clearwater, FL	1.0	1.0	750	$1,345	$1.79	24d	1	0.14mi
124 N Jefferson Ave Unit 2 Clearwater, FL	1.0	1.0	750	$1,395	$1.86	24d	1	0.14mi
1260 Cleveland St Clearwater, FL	1.0	1.0	617	$1,432	$2.32	2d	2	0.15mi
1278 Jade Pl Unit n/a Clearwater, FL	1.0	1.0	500	$1,350	$2.70	24d	1	0.24mi
1265 Jade Pl Clearwater, FL	1.0	1.0	450	$1,500	$3.33	22d	1	0.25mi
119 N Evergreen Ave Unit 203 Clearwater, FL	1.0	1.0	500	$1,150	$2.30	24d	1	0.28mi
1100 Cleveland St Clearwater, FL	1.0–2.0	1.0–2.5	1168	$1,785	$1.53	3d	15	0.40mi
1103 Drew St Clearwater, FL	1.0	1.0	580	$1,250	$2.16	7d	1	0.40mi
135 N Martin Luther King Jr Ave Clearwater, FL	1.0	1.0	650	$1,195	$1.84	18d	1	0.40mi
27 N San Remo Ave Unit A Clearwater, FL	2.0	1.0	625	$1,297	$2.08	3d	1	0.49mi
1458 Grove St Clearwater, FL	1.0	1.0	625	$1,295	$2.07	22d	1	0.50mi
1463 Drew St Unit B Clearwater, FL	1.0	1.0	500	$1,095	$2.19	24d	1	0.51mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	4d	1	0.52mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	3d	1	0.52mi
949 Cleveland St Clearwater, FL	1.0–2.0	1.0–2.0	820	$1,595	$1.95	2d	50	0.54mi
949 Cleveland St Unit C309 Clearwater, FL	1.0	1.0	748	$2,345	$3.14	14d	1	0.54mi
404 Pennsylvania Ave Clearwater, FL	1.0	1.0	748	$1,275	$1.70	15d	1	0.55mi
906 Jones St Apt A Clearwater, FL	1.0	1.0	700	$1,200	$1.71	7d	1	0.58mi
905 Jones St Clearwater, FL	2.0	1.0	660	$1,700	$2.58	11d	1	0.58mi
1477 Pierce St Clearwater, FL	2.0	1.0	650	$1,575	$2.42	24d	1	0.61mi
600 S Betty Ln Apt 7 Clearwater, FL	1.0	1.0	680	$1,225	$1.80	24d	1	0.62mi
711 S Lincoln Ave Clearwater, FL	1.0–2.0	1.0	860	$1,274	$1.48	2d	8	0.64mi
1389 Hibiscus St Unit Guest House Clearwater, FL	—	1.0	400	$1,295	$3.24	14d	1	0.65mi
612 Sally Ln S Unit 14 Clearwater, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.68mi
801 Chestnut St Clearwater, FL	1.0	1.0	433	$1,460	$3.37	3d	17	0.81mi
912 Pine St Clearwater, FL	2.0	1.0	480	$1,199	$2.50	4d	1	0.82mi
807 Turner St Unit 5 Clearwater, FL	—	1.0	560	$1,200	$2.14	18d	1	0.86mi
912 Engman St Clearwater, FL	2.0	1.0	625	$1,600	$2.56	24d	1	0.91mi
1109 Grant St Clearwater, FL	2.0	1.0	550	$1,295	$2.35	4d	1	0.92mi
1109 1/2 Grant St Clearwater, FL	2.0	1.0	550	$1,295	$2.35	19d	1	0.92mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,500	$1.80	24d	5	1.02mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,450	$1.74	2d	6	1.02mi
1224 S Missouri Ave #903 Clearwater, FL	1.0	1.0	730	$2,250	$3.08	24d	1	1.02mi
811 Lotus Path Unit 2 Clearwater, FL	2.0	1.0	700	$1,699	$2.43	24d	1	1.13mi
1731 Overbrook Ave Clearwater, FL	2.0	1.0	702	$1,245	$1.77	24d	1	1.14mi
306 Turner St #1 Clearwater, FL	1.0	1.0	600	$1,275	$2.12	18d	1	1.15mi
1705 Apache Trl Clearwater, FL	1.0–2.0	1.0	432	$1,075	$2.49	1d	1	1.19mi

HOA detail condo

• Monthly dues: $456 · $5,472/yr
• Likely covers: watertrashelectricinternetinsurance
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $99,000 Active 408 DOM
2. 2026-06-17
   days on market $99,000 Active 407 DOM
3. 2026-06-16
   days on market $99,000 Active 406 DOM
4. 2026-06-15
   days on market $99,000 Active 405 DOM
5. 2026-06-13
   days on market $99,000 Active 403 DOM
6. 2026-06-09
   days on market $99,000 Active 399 DOM
7. 2026-06-08
   days on market $99,000 Active 398 DOM
8. 2026-06-07
   days on market $99,000 Active 397 DOM
9. 2026-06-04
   days on market $99,000 Active 394 DOM
10. 2026-06-03
    days on market $99,000 Active 393 DOM
11. 2026-06-01
    days on market $99,000 Active 391 DOM
12. 2026-05-31
    days on market $99,000 Active 390 DOM
13. 2025-05-06
    listed $99,000 Active
14. 2024-04-15
    historical
15. 2024-01-18
    price $117,000
16. 2023-10-20
    listed $120,000 Active
17. 2010-09-22
    soldstatus $16,500 771-char remark

    Show marketing remark (771 chars)

    FIRE SALE!! Good Investment Condo or keep for your self. This co-op condo is conveniently located in a quiet area of Clearwater convenient to getting downtown, St. Pete College and Clearwater Beach. It sits across from Clearwater Public Golf Course and is also on 3 bus line stops. Laundry facilities on property. Monthly maintenance fee includes land lease, building insurance, maintenance, garbage and water. Pay for electric and internet and move in. Owner financing is an option, with 25% down, if cash or conventional loan is not available. Seller is very motivated. Condo is being sold As-Is, unfurnished. Furniture does not convey but could be negotiated outside of contract if wanted. Good investment - Buy 2 condos-#3 and #15 are both for sale by the same owner.

18. 2010-06-22
    listed $26,000 771-char remark

    Show marketing remark (771 chars)

    FIRE SALE!! Good Investment Condo or keep for your self. This co-op condo is conveniently located in a quiet area of Clearwater convenient to getting downtown, St. Pete College and Clearwater Beach. It sits across from Clearwater Public Golf Course and is also on 3 bus line stops. Laundry facilities on property. Monthly maintenance fee includes land lease, building insurance, maintenance, garbage and water. Pay for electric and internet and move in. Owner financing is an option, with 25% down, if cash or conventional loan is not available. Seller is very motivated. Condo is being sold As-Is, unfurnished. Furniture does not convey but could be negotiated outside of contract if wanted. Good investment - Buy 2 condos-#3 and #15 are both for sale by the same owner.

19. 2009-08-04
    listed $39,900
20. 2006-11-15
    listed $69,900
21. 2006-03-20
    historical
22. 2005-11-03
    listed $59,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $958 · $80/mo
• Projected year-2 tax: $958 · $80/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,280
• − Mortgage interest: −$5,546
• − Property taxes: −$958
• − Insurance: −$495
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − HOA: −$5,472
• − Depreciation: −$2,880
• Taxable loss: −$835
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $697/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Clearwater

• Score: 82/100
• State rank: #60
• US rank: #988

Category grades

Amenities B Commute A+ Cost of living A- Crime B+ Employment C- Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearwater, FL
• County: Pinellas County · 939,478 people
• City population: 170,933
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,476
• Household income: $62,886
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1511.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 54% Black 22% Hispanic / Latino 17% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 2% Italian 2% Arab 1%
• Foreign-born: 15% · Canada
• Languages at home: 78% English-only · Spanish 13% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -472.62%
• Current HPI: 351.4973
• Rent YoY: ▼ -2.20%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+67.8% since first listed

10 events — show timeline

• 2025-05-06 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-01-18 Price Changed $117,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-20 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2010-09-22 Sold (MLS) $16,500 Stellar MLS as Distributed by MLS Grid
• 2010-06-22 Listed $26,000 Stellar MLS as Distributed by MLS Grid
• 2009-08-04 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2006-11-15 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2006-03-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-11-03 Listed $59,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.6%/yr

Latest (2025): $958 · -0.7% YoY. Source: county tax records.