2462 Brazilia Dr #16 · Clearwater, FL 33763

$99,900

2 bd · 1.0 ba · 1,100 sqft · Condo public records · 62 Days on market

Built 1969 $464/mo HOA · 28% of rent

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Why this score? — see what drove the B- 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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

move in condition * * ground floor end unit * * washer & dryer * * 3 ceiling fans * * new range * * stainless steel sink in kitchen * * verticals thru-out * * light cabinets in kitchen * * air handler replaced 3 years ago * * FURNITURE NEGOTIABLE * * pets allowed * * endof street location makes for a very quiet location * * 27 holes of free golf for owners???

Key facts

• Woodworking workshop
• Bbq pit
• End unit

Tags

• FIRST FLOOR OPPORTUNITY
• END UNIT
• BBQ PIT
• HEATED POOL
• WOODWORKING WORKSHOP
• STATE-OF-THE-ART CARDIO GYM

Property features AI

Finance

• Other: Property is homesteaded; Property type: Residential condominium; Lot approx. 3.43 acres
• Financial info: Total monthly fees $464; total annual fees $5,568; Lease restrictions apply
• HOA & community: Has HOA with monthly condo fee of $464 (includes cable TV, internet, pool, maintenance - structure and grounds, pest control, recreational facilities, sewer, trash, water); Association approval required; Community amenities: clubhouse, fitness center, pool, tennis courts, racquetball, golf, dog park, sidewalks, irrigation with reclaimed water, deed restrictions, association recreation (lease), buyer approval required; Senior community; Pets allowed (max ~100 lb)

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected
• Home design: Residential condominium; One story; Faces southwest; Floor 1
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of Alsace Lorraine building (08)
• Exterior features: Exterior lighting; Sidewalks; Asphalt/paved road access

Interior

• Kitchen: Range; Range hood
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning
• Interior features: Ceiling fans; Living room and dining room combo; 6 total rooms
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 soft (-2.6%/yr); 288 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $55k; list at $100k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% 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 $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.69% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.54%
• DSCR: 1.51
• GRM: 4.9

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: -3.7%
• Equity multiple: 0.87×
• Total profit: $-3,745
• Equity at exit: $14,895

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $731
• 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 33763

• Rents YoY: -2.6%
• Active inventory: 288
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$524
• Tax from tax record: −$34 /mo · $406/yr
• Insurance: −$42
• HOA: −$464
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $269

Break-even live

Break-even rent $1,346

Max offer price $99,900

Occupancy floor 79%

Sensitivity live

Price	-10% $326	-5% $297	+0% $269	+5% $241	+10% $212
Rent	-10% $136	-5% $202	+0% $269	+5% $336	+10% $402
Rate	-1.0pp $319	-0.5pp $294	base $269	+0.5pp $243	+1.0pp $217

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2451 Canadian Way Clearwater, FL	2.0	1.0–2.0	1250	$1,598	$1.28	8d	2	0.04mi
2450 Canadian Way #26 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	24d	1	0.05mi
2463 Brazilia Dr #61 Clearwater, FL	2.0	1.0	1100	$1,450	$1.32	24d	1	0.11mi
2464 Australia Way E #24 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.12mi
2458 Columbia Dr #64 Clearwater, FL	1.0	1.0	825	$1,275	$1.55	24d	1	0.13mi
2448 Columbia Dr #72 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.13mi
2433 Brazilia Dr #49 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	24d	1	0.15mi
2428 Columbia Dr #68 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	4d	1	0.15mi
2434 Australia Way E #50 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	2d	1	0.15mi
2429 Ecuadorian Way #65 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	5d	1	0.17mi
2466 Ecuadorian Way #32 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.20mi
2456 Ecuadorian Way #42 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	5d	1	0.21mi
2455 Finlandia Ln #67 Clearwater, FL	2.0	2.0	1100	$1,495	$1.36	11d	1	0.22mi
2020 World Parkway Blvd #54 Clearwater, FL	2.0	2.0	1400	$1,795	$1.28	11d	1	0.23mi
2040 World Parkway Blvd #34 Clearwater, FL	2.0	2.0	1400	$1,650	$1.18	24d	1	0.24mi
2402 Ecuadorian Way Clearwater, FL	2.0	2.0	1400	$1,800	$1.29	24d	2	0.26mi
2380 World Parkway Blvd #56 Clearwater, FL	1.0	2.0	1244	$1,200	$0.96	4d	1	0.26mi
2402 Ecuadorian Way #28 Clearwater, FL	2.0	2.0	1400	$1,900	$1.36	5d	1	0.26mi
2071 Australia Way W #29 Clearwater, FL	2.0	2.0	1100	$1,525	$1.39	24d	1	0.27mi
2578 Sea Wind Way Clearwater, FL	2.0	2.5	1252	$2,100	$1.68	24d	1	0.28mi
2378 Ecuadorian Way #38 Clearwater, FL	2.0	2.0	1400	$1,800	$1.29	2d	1	0.30mi
2042 Australia Way W Clearwater, FL	1.0	1.0	825	$1,350	$1.64	11d	1	0.31mi
2361 Ecuadorian Way #45 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	4d	1	0.32mi
2358 Ecuadorian Way #56 Clearwater, FL	2.0	2.0	1100	$1,500	$1.36	3d	1	0.35mi
2359 Finlandia Ln Clearwater, FL	2.0	2.0–20.0	1100	$1,400	$1.27	18d	2	0.36mi
2310 Denmark St Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	15d	1	0.39mi
2311 Brisbane St #65 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	13d	1	0.40mi
2405 Franciscan Dr #23 Clearwater, FL	2.0	2.0	1400	$1,875	$1.34	21d	1	0.43mi
2331 Finlandia Ln #53 Clearwater, FL	1.0	1.0	825	$1,345	$1.63	3d	1	0.44mi
2400 Franciscan Dr #44 Clearwater, FL	1.0	1.0	735	$1,200	$1.63	24d	1	0.45mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	8d	1	0.51mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	3d	1	0.51mi
25350 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	875	$1,732	$1.98	2d	28	0.53mi
2284 Philippine Dr #59 Clearwater, FL	2.0	2.0	1100	$1,795	$1.63	22d	1	0.53mi
2031 Glass Loop Clearwater, FL	1.0–3.0	1.0–2.0	1058	$2,402	$2.27	2d	34	0.56mi
2256 Philippine Dr Clearwater, FL	2.0	2.0	1400	$1,550	$1.11	24d	1	0.60mi
2363 Israeli Dr #67 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.64mi
2460 Persian Dr #44 Clearwater, FL	2.0	2.0	1100	$1,800	$1.64	5d	1	0.66mi
2262 Swedish Dr #10 Clearwater, FL	2.0	2.0	1115	$2,000	$1.79	24d	1	0.73mi
2471 Sumatran Way Clearwater, FL	2.0	2.0	1400	$1,500	$1.07	18d	2	0.75mi

HOA detail condo

• Monthly dues: $464 · $5,568/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-08
   status Pending
2. 2026-03-06
   listed $99,900 Active
3. 2008-08-18
   soldstatus $55,000
4. 2008-08-13
   soldstatus $55,000 379-char remark

   Show marketing remark (379 chars)

   move in condition * * ground floor end unit * * washer & dryer * * 3 ceiling fans * * new range * * stainless steel sink in kitchen * * verticals thru-out * * light cabinets in kitchen * * air handler replaced 3 years ago * * FURNITURE NEGOTIABLE * * pets allowed * * endof street location makes for a very quiet location * * 27 holes of free golf for owners???

5. 2007-12-10
   listed $79,900 379-char remark

   Show marketing remark (379 chars)

   move in condition * * ground floor end unit * * washer & dryer * * 3 ceiling fans * * new range * * stainless steel sink in kitchen * * verticals thru-out * * light cabinets in kitchen * * air handler replaced 3 years ago * * FURNITURE NEGOTIABLE * * pets allowed * * endof street location makes for a very quiet location * * 27 holes of free golf for owners???

6. 2007-03-21
   listed $109,900
7. 2000-08-03
   soldstatus $38,000
8. 1997-02-21
   soldstatus $29,500

ⓘ 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: $406 · $34/mo
• Projected year-2 tax: $829 · $69/mo
• Expected delta: +$423/yr (+$35/mo · 104.3%)

ⓘ 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: $20,237
• − Mortgage interest: −$5,596
• − Property taxes: −$406
• − Insurance: −$500
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − HOA: −$5,568
• − Depreciation: −$2,906
• Taxable income: $2,024
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $2,742/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

• County: Pinellas County · 939,478 people
• City population: 170,933
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,146
• Household income: $54,794
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 753.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 81% English-only · Spanish 10% Other Indo-European 3% Russian/Polish/Slavic 1%

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: ▼ -439.90%
• Current HPI: 265.3099
• Rent YoY: ▼ -2.63%
• 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

+238.6% since first listed

8 events — show timeline

• 2026-05-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2008-08-18 Sold (Public Records) $55,000 Public Records
• 2008-08-13 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2007-12-10 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2007-03-21 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2000-08-03 Sold (Public Records) $38,000 Public Records
• 1997-02-21 Sold (Public Records) $29,500 Public Records

Property tax history

-6.6%/yr

Latest (2025): $406 · +5.2% YoY. Source: county tax records.