1360 S Washington Ave · Clearwater, FL 33756

$345,000

2 bd · 2.0 ba · 1,092 sqft · MultiFamily public records · 24 Days on market

Built 1956 5,275 sqft lot Est $282k · 22% over

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Why this score? — see what drove the F 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 +13.4/30.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +4.0/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Under contract-accepting backup offers. Amazing investment opportunity. DUPLEX in Clearwater Florida. Both Units Leased (Clearwater Housing) and professionally managed. Gross CAP 12 AGI $42,000. This is your chance to own a great investment opportunity, repairs are minimal, income potential is great! Each unit is a 1/1 with living room and kitchen, shared parking and yard area. Both units occupied. Please do not distub residents. Sold AS IS

Key facts

• Shared parking
• Both units leased
• Yard area

Tags

• DUPLEX
• BOTH UNITS LEASED
• PROFESSIONALLY MANAGED
• SHARED PARKING
• YARD AREA
• SOLD AS IS

Property features AI

Finance

• Other: Property type: Residential, Single Family Residence; Total living area reported as 1,092 (source: public records); Total building area reported as 1,422; Lot size approximately 0.12 acres (50 x 103); Universal property identifier available
• Financial info: No lease restrictions; Tax information and other financial details omitted
• HOA & community: No HOA; No association approval required

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Other utilities (unspecified)
• Home design: Single family residence; Completed condition; One story; North-facing
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.12-acre (50 x 103) lot
• Exterior features: Asphalt road access

Interior

• Kitchen: Appliances listed as Other
• Bedrooms: 2 bedrooms
• Flooring: Other flooring (unspecified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Mini-split cooling units
• Interior features: No additional interior features listed; Other appliances (unspecified)
• Laundry & utility: No laundry features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $4 ($52/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (14.6% below list).
• Recommended offer: $295k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.0% 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: schools C-, 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.
• Market conditions: Rents soft (-2.2%/yr); 363 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $2,947/mo this rent would consume 57% of the median local household income ($62k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 24 days — a 2% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $280k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,700 (14.6% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.05%
• DSCR: 1.00
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $281,736
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1538 S Martin Luther King JR	0.45mi	3/2.0 (+1)	1,050 (-4%)	6mo	$271,000	$258	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.6%
• Equity multiple: 0.33×
• Total profit: $-64,257
• Equity at exit: $51,441

10-year hold

• IRR: -20.1%
• Equity multiple: 0.08×
• Total profit: $-88,943
• Equity at exit: $29,829

Cash invested: $96,600 (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 33756

• Rents YoY: -2.2%
• Active inventory: 363
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $2,947 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$371 /mo · $4,450/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $4

Break-even live

Break-even rent $2,941

Max offer price $345,000

Occupancy floor 95%

Sensitivity live

Price	-10% $200	-5% $102	+0% $4	+5% $-93	+10% $-191
Rent	-10% $-228	-5% $-112	+0% $4	+5% $121	+10% $237
Rate	-1.0pp $178	-0.5pp $92	base $4	+0.5pp $-85	+1.0pp $-176

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,946
Total (2 units)			$2,947

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1119 Tuskawilla Dr Clearwater, FL	2.0	1.0	603	$1,500	$2.49	3d	23	0.25mi
1530 S Martin Luther King Jr Ave Clearwater, FL	3.0	2.0	1025	$1,995	$1.95	12d	1	0.40mi
1530 S Martin Luther King Jr Ave Clearwater, FL	3.0	2.0	1025	$1,950	$1.90	25d	1	0.40mi
1245 S Martin Luther King Jr Ave #104 Clearwater, FL	2.0	2.0	1120	$1,495	$1.33	5d	1	0.40mi
1532 S Washington Ave Clearwater, FL	3.0	2.0	954	$1,500	$1.57	5d	1	0.41mi
1319 Boylan Ave Clearwater, FL	2.0	1.0	800	$1,550	$1.94	25d	1	0.41mi
1224 S Missouri Ave #903 Clearwater, FL	1.0	1.0	730	$2,250	$3.08	25d	1	0.46mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$2,100	$2.51	25d	5	0.46mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$2,000	$2.40	3d	6	0.46mi
629 Wildwood Way Clearwater, FL	2.0	1.0	768	$1,400	$1.82	21d	1	0.48mi
627 Wildwood Way Clearwater, FL	2.0	1.0	768	$1,400	$1.82	21d	1	0.48mi
625 Wildwood Way Clearwater, FL	2.0	1.0	768	$1,400	$1.82	21d	1	0.49mi
1574 Ewing Ave Clearwater, FL	3.0	2.0	1324	$2,700	$2.04	5d	1	0.51mi
1562 S Jefferson Ave Clearwater, FL	1.0	1.0	870	$1,250	$1.44	18d	1	0.53mi
1128 Belleair Rd Unit Home Clearwater, FL	3.0	1.0	1326	$1,695	$1.28	25d	1	0.54mi
811 Lotus Path Unit 2 Clearwater, FL	2.0	1.0	700	$1,699	$2.43	25d	1	0.58mi
1516 Carmel Ave Clearwater, FL	2.0	1.0	740	$1,650	$2.23	5d	1	0.58mi
1552 S Myrtle Ave Clearwater, FL	3.0	2.0	900	$1,950	$2.17	9d	1	0.59mi
1552 S Myrtle Ave Clearwater, FL	2.0	1.5	750	$1,750	$2.33	16d	1	0.59mi
1571 S Myrtle Ave Clearwater, FL	3.0	2.0	1202	$2,400	$2.00	25d	1	0.60mi
1353 Lakeview Rd Clearwater, FL	3.0	1.0	1360	$1,995	$1.47	25d	1	0.60mi
1523 S Fredrica Ave Clearwater, FL	3.0	2.0	1284	$2,550	$1.99	25d	1	0.60mi
915 Ewing Ave Clearwater, FL	2.0	1.0	752	$1,400	$1.86	25d	1	0.63mi
1406 Lemon St Clearwater, FL	2.0	1.5	1020	$1,990	$1.95	25d	1	0.71mi
423 Wildwood Way Belleair, FL	2.0	1.0	1277	$2,045	$1.60	5d	1	0.71mi
1007 Hawkins St Unit A Clearwater, FL	2.0	1.0	784	$1,845	$2.35	25d	1	0.73mi
713 Smith St Clearwater, FL	1.0	1.0	814	$1,595	$1.96	4d	1	0.76mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	25d	1	0.78mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	18d	1	0.78mi
701 S Madison Ave Unit 1545916P Clearwater, FL	2.0	2.0	1237	$1,935	$1.56	15d	1	0.78mi
701 S Madison Ave Clearwater, FL	2.0	2.0	965	$1,998	$2.07	4d	6	0.78mi
1632 Clearwater Largo Rd Clearwater, FL	3.0	1.0–2.0	961	$2,499	$2.60	3d	25	0.79mi
1009 Chester Dr Clearwater, FL	3.0	2.0	1105	$2,500	$2.26	13d	1	0.79mi
1310 Bayview Dr Clearwater, FL	3.0	2.0	1500	$3,300	$2.20	25d	1	0.81mi
612 Sally Ln S Unit 14 Clearwater, FL	1.0	1.0	750	$1,500	$2.00	25d	1	0.83mi
711 S Lincoln Ave Clearwater, FL	1.0–2.0	1.0	860	$1,660	$1.93	3d	8	0.86mi
1432 Lotus Path Clearwater, FL	2.0	1.0	900	$1,750	$1.94	12d	1	0.88mi
1100 Turner St Clearwater, FL	1.0	1.5	900	$1,750	$1.94	4d	2	0.89mi
1221 Court St Unit 1 Clearwater, FL	2.0	1.0	1000	$1,800	$1.80	25d	1	0.96mi
1412 Druid Rd E Clearwater, FL	3.0	1.0	1239	$1,995	$1.61	25d	1	1.00mi

Listing history 12 events

1. 2026-05-08
   status Pending
2. 2026-04-14
   listed $345,000 Active
3. 2026-01-05
   soldstatus $280,000
4. 2022-10-24
   soldstatus $228,000
5. 2022-09-01
   status Pending
6. 2022-09-01
   historical
7. 2022-08-27
   price $219,000
8. 2022-07-30
   listed $270,000 Active
9. 2000-01-20
   soldstatus $24,600
10. 1987-04-01
    soldstatus $49,000
11. 1986-08-08
    soldstatus $35,000
12. 1984-07-01
    soldstatus $20,000

ⓘ 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: $4,450 · $371/mo
• Projected year-2 tax: $4,450 · $371/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 · 24 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: $35,364
• − Mortgage interest: −$19,325
• − Property taxes: −$4,450
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,829
• − Management: −$2,829
• − Depreciation: −$10,036
• Taxable loss: −$5,831
• Est. tax savings @ 24.0%: +$1,399
• After-tax cash flow: $1,452/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): 32,201
• Household income: $61,872
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1868.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 18% Black 11% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 16% · Canada
• Languages at home: 79% English-only · Spanish 14% Other Indo-European 2% 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: ▼ -438.74%
• Current HPI: 354.6792
• Rent YoY: ▼ -2.22%
• 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

+1625.0% since first listed

12 events — show timeline

• 2026-05-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Listed $345,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Sold (Public Records) $280,000 Public Records
• 2022-10-24 Sold (Public Records) $228,000 Public Records
• 2022-09-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-09-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-08-27 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-30 Listed $270,000 Stellar MLS as Distributed by MLS Grid
• 2000-01-20 Sold (Public Records) $24,600 Public Records
• 1987-04-01 Sold (Public Records) $49,000 Public Records
• 1986-08-08 Sold (Public Records) $35,000 Public Records
• 1984-07-01 Sold (Public Records) $20,000 Public Records

Property tax history

+14.5%/yr

Latest (2025): $4,450 · +11.4% YoY. Source: county tax records.