1433 S Belcher Rd Unit B2 · Clearwater, FL 33764

$99,000

2 bd · 2.0 ba · 855 sqft · Condo public records · 135 Days on market

Built 1967 $633/mo HOA · 32% 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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to Sell at Just $99,000! Welcome to Imperial Court, where affordability meets opportunity in this well-maintained 2-bedroom, 2-bathroom first-floor condo in the heart of Largo/Clearwater. This 855-square-foot unit offers easy-care ceramic tile flooring throughout, a spacious living and dining area, and a generously sized primary suite with a private en-suite bath. The A/C was replaced in November 2024, giving buyers added peace of mind. Step outside your back door and enjoy direct access to the community pool—perfect for relaxing and soaking up the Florida sunshine. Investor Alert: Currently tenant-occupied on a month-to-month lease, with a tenant who would love to stay. Curren

Key facts

• Clearwater location
• $633 HOA
• Community pool

Tags

• CERAMIC TILE FLOORING
• OPEN LIVING AND DINING AREA
• PRIMARY BEDROOM SUITE
• PRIVATE EN-SUITE BATH
• CLEARWATER LOCATION
• EASY ACCESS TO AIRPORT

Property features AI

Finance

• Other: Unit is unfurnished
• Financial info: Total annual fees $7,596; Lease restrictions apply
• HOA & community: Monthly condo fee of $633 (includes common area taxes, pool, reserves, insurance, structure and grounds maintenance, sewer, trash, water); Association management: Patricia - Qualified Property Management; Association approval required; Community pool, sidewalks, street lights, community mailbox; Buyer approval required; No pets allowed

Exterior

• Parking: Paved road access
• Utilities: Public water; Public sewer; High-speed internet available; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; 2 total stories in building; unit on floor 2; North-facing
• Construction: Block and concrete construction; Shingle roof; Slab foundation; Building B
• Exterior features: Screened patio/porch; Outdoor lighting; Sidewalks; Sliding doors

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Split bedroom layout; Florida room
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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 (-5.2%/yr); 261 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 35% of the median local income ($67k/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 $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 135 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk; 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 135 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 1967 — 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: 1.99% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 4.2

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: -6.3%
• Equity multiple: 0.78×
• Total profit: $-6,120
• Equity at exit: $14,761

10-year hold

• IRR: -4.5%
• Equity multiple: 0.77×
• Total profit: $-6,278
• 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 33764

• Rents YoY: -5.2%
• Active inventory: 261
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$519
• Tax from tax record: −$124 /mo · $1,488/yr
• Insurance: −$41
• HOA: −$633
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $240

Break-even live

Break-even rent $1,668

Max offer price $99,000

Occupancy floor 83%

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
1433 S Belcher Rd Unit F9 Clearwater, FL	2.0	2.0	855	$2,450	$2.87	2d	1	0.02mi
1433 S Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	748	$2,450	$3.27	20d	2	0.05mi
2102 Nursery Rd Unit 2 Clearwater, FL	2.0	2.0	960	$1,555	$1.62	14d	1	0.20mi
2159 Nursery Rd Clearwater, FL	1.0–3.0	1.0–2.0	870	$1,481	$1.70	1d	10	0.22mi
2100 Nursery Rd Clearwater, FL	1.0–2.0	1.0–2.0	910	$1,750	$1.92	3d	10	0.23mi
2225 Nursery Rd Clearwater, FL	2.0	1.0–2.0	802	$1,850	$2.31	24d	1	0.24mi
1550 S Belcher Rd Clearwater, FL	1.0	1.0	825	$1,350	$1.64	4d	1	0.28mi
2236 Morningside Dr Clearwater, FL	2.0	1.5	902	$2,200	$2.44	4d	1	0.30mi
2207 Belleair Rd Unit B7 Clearwater, FL	2.0	1.0	857	$1,800	$2.10	20d	1	0.44mi
2207 Belleair Rd Unit B4 Clearwater, FL	2.0	1.0	857	$1,625	$1.90	14d	1	0.44mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	24d	1	0.55mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	4d	1	0.55mi
1330 Moreland Dr Clearwater, FL	2.0	2.0	1192	$2,125	$1.78	24d	3	0.58mi
2346 Druid Rd #1106 Clearwater, FL	2.0	2.0	1008	$1,495	$1.48	16d	1	0.95mi
1515 Flournoy Loop Unit 1511623P Clearwater, FL	1.0	1.0	796	$4,866	$6.11	2d	1	0.96mi
1515 Flournoy Loop Unit 1511622P Clearwater, FL	1.0	1.0	796	$3,057	$3.84	14d	1	0.96mi
1653 Bravo Dr Clearwater, FL	1.0	1.0	850	$2,200	$2.59	4d	1	0.99mi
2168 Druid Rd E Clearwater, FL	1.0–3.0	1.0–2.0	1049	$2,532	$2.41	3d	20	1.00mi
1564 Flournoy Cir W Unit 1515105P Clearwater, FL	2.0	2.0	990	$5,329	$5.38	14d	1	1.01mi
1551 Flournoy Cir W Clearwater, FL	1.0–3.0	1.0–2.0	916	$2,086	$2.28	2d	32	1.02mi
19029 US Highway 19 N Unit 6-10 Clearwater, FL	1.0	1.0	875	$1,300	$1.49	4d	1	1.03mi
20000 US Highway 19 N Unit 610 Clearwater, FL	1.0	1.0	800	$1,150	$1.44	24d	1	1.06mi
20000 US Highway 19 N #612 Clearwater, FL	2.0	2.0	800	$1,300	$1.62	24d	1	1.08mi
19135 US Highway 19 N Clearwater, FL	1.0–4.0	1.0–2.5	1139	$1,849	$1.62	2d	30	1.11mi
2705 Via Murano #136 Clearwater, FL	2.0	1.0	980	$2,100	$2.14	17d	1	1.13mi
2705 Via Murano #125 Clearwater, FL	1.0	1.0	890	$1,795	$2.02	24d	1	1.13mi
2025 Rogers St Clearwater, FL	1.0–3.0	1.0–2.0	985	$1,874	$1.90	10d	10	1.15mi
2723 Via Capri #834 Clearwater, FL	1.0	1.0	770	$1,875	$2.44	4d	1	1.18mi
19029 U.S. 19 Unit 1-19 Clearwater, FL	1.0	1.5	950	$2,000	$2.11	21d	1	1.19mi
19029 U.S. 19 Unit 7-8 Clearwater, FL	2.0	2.0	1060	$2,200	$2.08	17d	1	1.19mi
2721 Via Murano #324 Clearwater, FL	1.0	1.0	770	$1,750	$2.27	4d	1	1.21mi
2724 Via Murano #634 Clearwater, FL	1.0	1.0	890	$1,695	$1.90	24d	1	1.21mi
19355 US Highway 19 N Clearwater, FL	1.0–3.0	1.0–2.0	1093	$2,489	$2.28	3d	13	1.23mi
2353 Shelley St #11 Clearwater, FL	1.0	1.0	585	$1,150	$1.97	24d	1	1.24mi
2554 Oak Trl S Clearwater, FL	1.0–2.0	1.0–2.0	862	$2,131	$2.47	2d	14	1.26mi
2732 Via Murano #527 Clearwater, FL	2.0	2.0	1110	$2,800	$2.52	24d	1	1.26mi
2348 Shelley St #9 Clearwater, FL	2.0	1.0	950	$2,200	$2.32	24d	1	1.27mi
411 S Nimbus Ave Unit 3 Clearwater, FL	1.0	1.0	700	$1,395	$1.99	17d	1	1.27mi
2366 Shelley St #12 Clearwater, FL	1.0	1.0	585	$1,550	$2.65	24d	1	1.29mi
2366 Shelley St Clearwater, FL	1.0	1.0	585	$1,425	$2.44	14d	2	1.29mi

HOA detail condo

• Monthly dues: $633 · $7,596/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $99,000 Active 135 DOM
2. 2026-06-17
   days on market $99,000 Active 134 DOM
3. 2026-06-16
   days on market $99,000 Active 133 DOM
4. 2026-06-15
   days on market $99,000 Active 132 DOM
5. 2026-06-13
   days on market $99,000 Active 130 DOM
6. 2026-06-09
   days on market $99,000 Active 126 DOM
7. 2026-06-08
   days on market $99,000 Active 125 DOM
8. 2026-06-07
   days on market $99,000 Active 124 DOM
9. 2026-06-04
   days on market $99,000 Active 121 DOM
10. 2026-06-03
    days on market $99,000 Active 120 DOM
11. 2026-06-01
    days on market $99,000 Active 118 DOM
12. 2026-05-31
    days on market $99,000 Active 117 DOM
13. 2026-05-19
    price $99,000
14. 2026-02-03
    listed $109,000 Active
15. 2024-02-05
    historical
16. 2024-01-31
    historical $1,400
17. 2023-12-24
    listed $1,400
18. 2023-11-29
    price $134,900
19. 2023-09-21
    price $139,900
20. 2023-09-13
    listed $144,900 Active
21. 2022-12-08
    historical
22. 2022-10-14
    price $124,900
23. 2022-08-16
    status Active
24. 2022-07-11
    listed $129,900 Active
25. 2019-11-13
    price $69,000
26. 2019-11-13
    historical
27. 2019-10-23
    price $67,000
28. 2019-10-08
    status Active
29. 2019-09-25
    historical
30. 2019-09-25
    price $69,900
31. 2019-09-10
    listed $67,000 Active
32. 2005-01-20
    soldstatus $80,000
33. 2005-01-14
    soldstatus $80,000
34. 2004-11-16
    listed $82,900
35. 2004-09-04
    listed $84,900
36. 1993-03-29
    soldstatus $32,500
37. 1989-01-12
    soldstatus $37,000
38. 1984-04-01
    soldstatus $37,500

ⓘ 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: $1,488 · $124/mo
• Projected year-2 tax: $1,488 · $124/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 6/10 Major FEMA zone X (unshaded) · 57% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,656
• − Mortgage interest: −$5,546
• − Property taxes: −$1,488
• − Insurance: −$495
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − HOA: −$7,596
• − Depreciation: −$2,880
• Taxable income: $1,866
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $2,431/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): 27,311
• Household income: $67,256
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1118.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% German 2%
• Foreign-born: 14% · Canada, Jamaica, Vietnam
• Languages at home: 80% English-only · Spanish 10% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -350.08%
• Current HPI: 315.4133
• Rent YoY: ▼ -5.24%
• 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

+164.0% since first listed

26 events — show timeline

• 2026-05-19 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Listed $109,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-01-31 Rental Removed $1,400 STELLARMLS
• 2023-12-24 Listed for Rent $1,400 STELLARMLS
• 2023-11-29 Price Changed $134,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-21 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-13 Listed $144,900 Stellar MLS as Distributed by MLS Grid
• 2022-12-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-10-14 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2022-08-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-07-11 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2019-11-13 Price Changed $69,000 Stellar MLS as Distributed by MLS Grid
• 2019-11-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-10-23 Price Changed $67,000 Stellar MLS as Distributed by MLS Grid
• 2019-10-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2019-09-25 Price Changed $69,900 Stellar MLS as Distributed by MLS Grid
• 2019-09-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-09-10 Listed $67,000 Stellar MLS as Distributed by MLS Grid
• 2005-01-20 Sold (Public Records) $80,000 Public Records
• 2005-01-14 Sold (MLS) $80,000 Stellar MLS as Distributed by MLS Grid
• 2004-11-16 Listed $82,900 Stellar MLS as Distributed by MLS Grid
• 2004-09-04 Listed $84,900 Stellar MLS as Distributed by MLS Grid
• 1993-03-29 Sold (Public Records) $32,500 Public Records
• 1989-01-12 Sold (Public Records) $37,000 Public Records
• 1984-04-01 Sold (Public Records) $37,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,488 · +6.2% YoY. Source: county tax records.