2353 Shelley St #19 · Clearwater, FL 33765

$125,000

1 bd · 1.0 ba · 585 sqft · Condo public records · 28 Days on market

Built 1966 $315/mo HOA · 23% of rent

---

Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON MARKET!! 1 BED/1 BATH CONDO IN CENTRAL CLEARWATER WITH NO AGE RESTRICTIONS. FULLY FURNISHED, JUST BRING TOOTH BRUSH. LOW MONTHLY DUES, CLOSE TO SHOPS , RESTAURANTS, BALL PARK AND LOCAL BEACHES.

Key facts

• Small enclosed patio
• Large pantry closet
• Low condo fees

Tags

• LOW CONDO FEES
• LARGE PANTRY CLOSET
• SMALL ENCLOSED PATIO

Property features AI

Finance

• Other: No lease restrictions indicated; Unfurnished
• Financial info: Total monthly fees $315; total annual fees $3,780
• HOA & community: Monthly condo fee of $315 (includes water, sewer, trash, insurance, management, maintenance of structure and grounds, escrow reserves fund); Association: Prestige Property Management Services; Association approval required; Community features include community mailbox, deed restrictions, no truck/RV/motorcycle parking, buyer approval required

Exterior

• Parking: No specific parking details provided
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected
• Home design: Residential condominium; One story; Faces north; Unit on 2nd floor
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of Building Number 2
• Exterior features: Concrete road frontage

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating reported; Wall/window unit(s) for cooling
• Interior features: Ceiling fans; Living room/dining room combo; Drapes, rods and shades on windows
• Laundry & utility: No laundry in unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-40 ($-476/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (5.6% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (5.6% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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: 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 falling (-4.6%/yr); 83 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $864 of loan paydown is wiped out by about $4k 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 28 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,993 (5.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.11% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 7.5

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: -22.9%
• Equity multiple: 0.24×
• Total profit: $-26,652
• Equity at exit: $18,638

10-year hold

• IRR: -33.5%
• Equity multiple: -0.18×
• Total profit: $-41,383
• Equity at exit: $10,808

Cash invested: $35,000 (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 33765

• Home prices YoY: -31.8%
• Rents YoY: -4.6%
• Active inventory: 83
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$656
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$52
• HOA: −$315
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-40

Break-even live

Break-even rent $1,435

Max offer price $117,993

Occupancy floor 98%

Sensitivity live

Price	-10% $31	-5% $-4	+0% $-40	+5% $-75	+10% $-110
Rent	-10% $-149	-5% $-94	+0% $-40	+5% $15	+10% $70
Rate	-1.0pp $23	-0.5pp $-8	base $-40	+0.5pp $-72	+1.0pp $-105

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2353 Shelley St #11 Clearwater, FL	1.0	1.0	585	$1,150	$1.97	25d	1	0.03mi
2366 Shelley St #12 Clearwater, FL	1.0	1.0	585	$1,550	$2.65	25d	1	0.08mi
2366 Shelley St Clearwater, FL	1.0	1.0	585	$1,425	$2.44	15d	2	0.08mi
2317 Nash St Unit Priv Clearwater, FL	1.0	1.0	350	$1,695	$4.84	25d	1	0.20mi
25 N Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	780	$1,503	$1.93	3d	12	0.41mi
101 S Old Coachman Rd Clearwater, FL	3.0	1.0–2.0	983	$1,927	$1.96	4d	16	0.51mi
308 Gunn Ave Unit 308 Clearwater, FL	1.0	1.0	650	$1,400	$2.15	18d	1	0.65mi
300 Gunn Ave Unit 9 Clearwater, FL	1.0	1.0	525	$1,130	$2.15	25d	1	0.66mi
300 Gunn Ave Unit 7 Clearwater, FL	1.0	1.0	525	$1,150	$2.19	11d	1	0.66mi
411 S Nimbus Ave Unit 3 Clearwater, FL	1.0	1.0	700	$1,395	$1.99	18d	1	0.76mi
2025 Rogers St Clearwater, FL	1.0–3.0	1.0–2.0	985	$1,549	$1.57	11d	10	0.79mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	4d	1	0.94mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	25d	1	0.94mi
412 S Aurora Ave Unit 5 Clearwater, FL	—	1.0	400	$950	$2.38	22d	1	0.96mi
2690 Drew St Clearwater, FL	1.0–3.0	1.0–2.0	974	$1,225	$1.26	2d	12	1.01mi
2060 Marilyn St #207 Clearwater, FL	1.0	1.0	750	$1,350	$1.80	18d	1	1.07mi
2060 Marilyn St #127 Clearwater, FL	1.0	1.0	750	$1,350	$1.80	25d	1	1.09mi
2501 Harn Blvd Unit H27 Clearwater, FL	1.0	1.0	500	$1,300	$2.60	25d	1	1.11mi
309 S Arcturas Ave #6 Clearwater, FL	1.0	1.0	650	$1,200	$1.85	3d	1	1.11mi
1433 S Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	748	$1,250	$1.67	20d	2	1.16mi
2729 Seville Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1057	$1,695	$1.60	2d	33	1.16mi
2481 NE Coachman Rd Clearwater, FL	1.0–2.0	1.0–2.0	762	$1,424	$1.87	2d	14	1.25mi
19135 US Highway 19 N Clearwater, FL	1.0–4.0	1.0–2.5	1139	$1,278	$1.12	2d	30	1.28mi
2100 Nursery Rd Clearwater, FL	1.0–2.0	1.0–2.0	910	$1,330	$1.46	4d	10	1.34mi
2225 Nursery Rd Clearwater, FL	2.0	1.0–2.0	802	$1,552	$1.94	25d	1	1.41mi
2159 Nursery Rd Clearwater, FL	1.0–3.0	1.0–2.0	870	$1,335	$1.53	2d	10	1.41mi
1784 Magnolia Dr Unit B Clearwater, FL	—	1.0	600	$1,800	$3.00	25d	1	1.45mi
2909 Gulf To Bay Blvd Clearwater, FL	1.0–2.0	1.0–2.0	931	$1,279	$1.37	4d	9	1.48mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 28 DOM
2. 2026-06-17
   days on market $125,000 Active 27 DOM
3. 2026-06-16
   days on market $125,000 Active 26 DOM
4. 2026-06-15
   days on market $125,000 Active 25 DOM
5. 2026-06-13
   days on market $125,000 Active 23 DOM
6. 2026-06-09
   days on market $125,000 Active 19 DOM
7. 2026-06-08
   days on market $125,000 Active 18 DOM
8. 2026-06-07
   days on market $125,000 Active 17 DOM
9. 2026-06-04
   days on market $125,000 Active 14 DOM
10. 2026-06-03
    days on market $125,000 Active 13 DOM
11. 2026-06-02
    days on market $125,000 Active 12 DOM
12. 2026-06-01
    days on market $125,000 Active 11 DOM
13. 2026-05-31
    days on market $125,000 Active 10 DOM
14. 2026-05-21
    listed $125,000 Active
15. 2010-06-09
    soldstatus $25,000
16. 2010-06-08
    soldstatus $25,000 201-char remark

    Show marketing remark (201 chars)

    BACK ON MARKET!! 1 BED/1 BATH CONDO IN CENTRAL CLEARWATER WITH NO AGE RESTRICTIONS. FULLY FURNISHED, JUST BRING TOOTH BRUSH. LOW MONTHLY DUES, CLOSE TO SHOPS , RESTAURANTS, BALL PARK AND LOCAL BEACHES.

17. 2010-03-11
    listed $29,900 201-char remark

    Show marketing remark (201 chars)

    BACK ON MARKET!! 1 BED/1 BATH CONDO IN CENTRAL CLEARWATER WITH NO AGE RESTRICTIONS. FULLY FURNISHED, JUST BRING TOOTH BRUSH. LOW MONTHLY DUES, CLOSE TO SHOPS , RESTAURANTS, BALL PARK AND LOCAL BEACHES.

18. 1981-11-01
    soldstatus $25,500

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $1,329 · $111/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 · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,613
• − Mortgage interest: −$7,002
• − Property taxes: −$1,329
• − Insurance: −$625
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − HOA: −$3,780
• − Depreciation: −$3,636
• Taxable loss: −$2,418
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $104/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): 13,808
• Household income: $69,199
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 604.0

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 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 19% Two or more races 13% Black 8% Asian 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 3% Slovak 2% Italian 2%
• Foreign-born: 22% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% Other Indo-European 6% Vietnamese 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: ▼ -146.56%
• Current HPI: 314.4864
• Rent YoY: ▼ -4.61%
• 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

+390.2% since first listed

5 events — show timeline

• 2026-05-21 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2010-06-09 Sold (Public Records) $25,000 Public Records
• 2010-06-08 Sold (MLS) $25,000 Stellar MLS as Distributed by MLS Grid
• 2010-03-11 Listed $29,900 Stellar MLS as Distributed by MLS Grid
• 1981-11-01 Sold (Public Records) $25,500 Public Records

Property tax history

+10.5%/yr

Latest (2025): $1,329 · +14.3% YoY. Source: county tax records.