1235 S Highland Ave Unit 5-703 · Clearwater, FL 33756

$99,900

1 bd · 1.0 ba · 659 sqft · Condo public records · 24 Days on market

Built 1970 $355/mo HOA · 25% of rent

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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 +17.5/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to low-maintenance living in this fully furnished, move-in-ready 1-bedroom, 1-bathroom top-floor condo located in the desirable 55+ community of Kalmia. With no upstairs neighbors and a peaceful view, this home offers comfort, privacy, and convenience all in one. Enjoy peace of mind with major updates already taken care of: a newer roof, A/C, and water heater were all replaced in August 2022 and include a transferable warranty. The floors were also updated in 2020, creating a clean and modern feel throughout. This community provides a relaxed Florida lifestyle with amenities that include a heated pool, clubhouse, shuffleboard courts, laundry facilities, and beautifully landscaped grounds. The HOA covers exterior maintenance, cable, water, sewer, and trash—just one monthly payment for stress-free living. You get your very own parking spot. (#60) and a Storgae locker (#8) Perfectly positioned in central Clearwater, you're just minutes from top attractions including Clearwater Beach, Coachman Park, The Clearwater Marine Aquarium, Eagle Lake Park, and a variety of local restaurants and shops. Whether you're looking for a full-time residence or seasonal retreat, this fully furnished condo offers exceptional value in a vibrant and welcoming community.

Key facts

• Clubhouse
• Updated mechanicals
• Top-floor unit

Tags

• TOP-FLOOR UNIT
• UPDATED MECHANICALS
• ASSIGNED PARKING SPOT
• PRIVATE STORAGE LOCKER
• HEATED POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Association: Resource Property Management/Scott Fisher
• Financial info: Total annual fees: $4,260; Monthly fees: $355; Lease restrictions apply
• HOA & community: HOA with monthly condo fee of $355; Association manages pool, clubhouse, recreational facilities, maintenance (structure and grounds), cable TV, sewer, water, trash, insurance, common area taxes and reserves; Association approval required; Association Recreation - Owned; Clubhouse; Pool; Sidewalks; Deed restrictions; Buyer approval required; Senior community; No pets allowed

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Cable available; Electricity available; Phone available
• Home design: Condominium; Residential property; One level; Faces west; Located on 7th floor
• Construction: Block, concrete and stucco construction; Shingle roof; Slab foundation; Building name: KALMIA
• Exterior features: Exterior lighting; City limits; Private lot; Paved road

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Stone counters; Elevator not present
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $76 ($917/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% 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: Plumb Elementary School (math 56% / reading 54%, grade C, #872 of 2,144 statewide, top 42%, 622 students, 56% FRL); Oak Grove Middle School (math 41% / reading 38%, grade F, #373 of 571 statewide, top 66%, 843 students, 66% FRL); Clearwater High School (math 30% / reading 36%, grade F, #406 of 667 statewide, top 61%, 1,664 students, 59% FRL).
• Market conditions: Rents soft (-2.2%/yr); 369 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $691 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 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 5.9

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: -16.0%
• Equity multiple: 0.46×
• Total profit: $-15,241
• Equity at exit: $14,895

10-year hold

• IRR: -18.3%
• Equity multiple: 0.21×
• Total profit: $-22,112
• Equity at exit: $8,638

Cash invested: $27,972 (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: 369
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$355
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $76

Break-even live

Break-even rent $1,323

Max offer price $99,900

Occupancy floor 90%

Sensitivity live

Price	-10% $145	-5% $111	+0% $76	+5% $42	+10% $7
Rent	-10% $-36	-5% $20	+0% $76	+5% $133	+10% $189
Rate	-1.0pp $127	-0.5pp $102	base $76	+0.5pp $51	+1.0pp $24

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 Jeffords St Clearwater, FL	1.0–2.0	1.0	645	$1,195	$1.85	26d	1	0.19mi
1784 Magnolia Dr Clearwater, FL	—	1.0	600	$1,800	$3.00	0d	1	0.69mi
1784 Magnolia Dr Unit B Clearwater, FL	—	1.0	600	$1,800	$3.00	26d	1	0.69mi
407 S Jupiter Ave Unit 7 Clearwater, FL	—	1.0	550	$1,095	$1.99	6d	1	0.86mi
600 S Betty Ln Apt 7 Clearwater, FL	1.0	1.0	680	$1,225	$1.80	26d	1	0.87mi
612 Sally Ln S Unit 14 Clearwater, FL	1.0	1.0	750	$1,500	$2.00	26d	1	0.87mi
1477 Pierce St Clearwater, FL	2.0	1.0	650	$1,575	$2.42	26d	1	0.90mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,500	$1.80	26d	5	0.93mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,450	$1.74	4d	6	0.93mi
711 S Lincoln Ave Clearwater, FL	1.0–2.0	1.0	860	$1,249	$1.45	0d	7	0.94mi
1224 S Missouri Ave #903 Clearwater, FL	1.0	1.0	730	$2,250	$3.08	26d	1	0.98mi
1119 Tuskawilla Dr Clearwater, FL	3.0	1.0–2.0	603	$1,183	$1.96	0d	25	1.03mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	5d	1	1.04mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	6d	1	1.04mi
27 N San Remo Ave Unit A Clearwater, FL	2.0	1.0	625	$1,297	$2.08	5d	1	1.12mi
1265 Pierce St Unit 1 Clearwater, FL	1.0	1.0	650	$1,495	$2.30	0d	1	1.14mi
1458 Grove St Clearwater, FL	1.0	1.0	625	$1,295	$2.07	24d	1	1.16mi
1278 Jade Pl Unit n/a Clearwater, FL	1.0	1.0	500	$1,350	$2.70	26d	1	1.16mi
1278 Jade Pl Unit n/a Clearwater, FL	1.0	1.0	500	$1,350	$2.70	0d	1	1.16mi
1265 Jade Pl Clearwater, FL	1.0	1.0	450	$1,500	$3.33	24d	1	1.17mi
1463 Drew St Unit B Clearwater, FL	1.0	1.0	500	$1,095	$2.19	26d	1	1.18mi
309 S Arcturas Ave #6 Clearwater, FL	1.0	1.0	650	$1,200	$1.85	0d	1	1.18mi
309 S Arcturas Ave #6 Clearwater, FL	1.0	1.0	650	$1,200	$1.85	5d	1	1.18mi
119 N Evergreen Ave Unit 203 Clearwater, FL	1.0	1.0	500	$1,150	$2.30	26d	1	1.23mi
941 Lakeview Rd Clearwater, FL	1.0	1.0	550	$1,199	$2.18	20d	1	1.24mi
1260 Cleveland St Clearwater, FL	1.0	1.0	617	$1,432	$2.32	5d	2	1.26mi
412 S Aurora Ave Unit 5 Clearwater, FL	—	1.0	400	$950	$2.38	24d	1	1.27mi
1233 Grove St Clearwater, FL	1.0	1.0	540	$1,350	$2.50	26d	1	1.32mi
1538 S Martin Luther King Jr Ave Clearwater, FL	2.0	1.0	650	$1,625	$2.50	26d	1	1.34mi
912 Pine St Clearwater, FL	2.0	1.0	480	$1,199	$2.50	6d	1	1.34mi
313 N Jupiter Ave Clearwater, FL	2.0	1.0	700	$1,495	$2.14	10d	1	1.36mi
811 Lotus Path Unit 2 Clearwater, FL	2.0	1.0	700	$1,699	$2.43	26d	1	1.36mi
2025 Rogers St Clearwater, FL	1.0–3.0	1.0–2.0	985	$1,549	$1.57	13d	10	1.36mi
1221 Drew St Clearwater, FL	1.0	1.0	777	$1,600	$2.06	24d	1	1.40mi
1221 Drew St Unit A21 Clearwater, FL	2.0	1.0	705	$1,300	$1.84	5d	1	1.40mi
124 N Jefferson Ave Unit 2 Clearwater, FL	1.0	1.0	750	$1,395	$1.86	26d	1	1.44mi
124 N Jefferson Ave Unit 5 Clearwater, FL	1.0	1.0	750	$1,345	$1.79	26d	1	1.44mi
411 S Nimbus Ave Unit 3 Clearwater, FL	1.0	1.0	700	$1,395	$1.99	20d	1	1.45mi
807 Turner St Unit 5 Clearwater, FL	—	1.0	560	$1,200	$2.14	20d	1	1.47mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Likely covers: watersewertrashcablelandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-22
   days on market $99,900 Active 24 DOM
2. 2026-06-22
   days on market $99,900 Active 23 DOM
3. 2026-06-18
   days on market $99,900 Active 20 DOM
4. 2026-06-17
   days on market $99,900 Active 19 DOM
5. 2026-06-16
   days on market $99,900 Active 18 DOM
6. 2026-06-15
   days on market $99,900 Active 17 DOM
7. 2026-06-13
   days on market $99,900 Active 15 DOM
8. 2026-06-09
   days on market $99,900 Active 11 DOM
9. 2026-06-08
   days on market $99,900 Active 10 DOM
10. 2026-06-07
    days on market $99,900 Active 9 DOM
11. 2026-06-04
    days on market $99,900 Active 6 DOM
12. 2026-06-03
    days on market $99,900 Active 5 DOM
13. 2026-06-02
    days on market $99,900 Active 4 DOM
14. 2026-06-01
    days on market $99,900 Active 3 DOM
15. 2026-05-31
    days on market $99,900 Active 2 DOM

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

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: $17,040
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − HOA: −$4,260
• − Depreciation: −$2,906
• Taxable loss: −$446
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $1,024/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

+250.5% since first listed

8 events — show timeline

• 2026-05-29 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-22 Sold (Public Records) $97,000 Public Records
• 2025-09-05 Sold (MLS) $97,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-15 Listed $97,000 Stellar MLS as Distributed by MLS Grid
• 2007-03-16 Sold (Public Records) $65,000 Public Records
• 1996-04-11 Sold (Public Records) $27,900 Public Records
• 1989-03-09 Sold (Public Records) $28,500 Public Records

Property tax history

-11.3%/yr

Latest (2025): $110 · +20.4% YoY. Source: county tax records.