1324 Milton St · Clearwater, FL 33756

$349,000

4 bd · 2.0 ba · 1,578 sqft · MultiFamily public records · 205 Days on market

Built 1956 10,154 sqft lot Est $428k · 18% under

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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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Under contract-accepting backup offers. Virtually Staged. Duplex: Welcome to 1324 Milton Street, a legally zoned duplex ideally situated in the heart of Clearwater, Florida. This solid block property rests on a spacious double lot measuring 100 feet wide by 102 feet deep, featuring a large fenced yard with plenty of room to park an RV, boat, or multiple vehicles. Zoned LDMR (Low Medium Density Residential), the property has no HOA restrictions and is located outside of a flood zone, offering added peace of mind and flexibility for both homeowners and investors. The duplex consists of two separate units connected by a covered breezeway and a convenient one-car covered carport. The front unit

Key facts

• Two separate units
• Huge fenced yard
• Large double lot

Tags

• LEGAL ZONED DUPLEX
• LARGE DOUBLE LOT
• HUGE FENCED YARD
• ZONED LDMR
• FREE FROM HOA RESTRICTIONS
• TWO SEPARATE UNITS

Property features AI

Finance

• Other: Two-unit property; One separate water meter; Lot size approximately 0.25 acres (100 x 102); Zoning / future land use: LMDR
• Financial info: Gross income: $34,200; Estimated annual market income: $43,140; Annual net income: $28,112; Annual expenses: $6,088; Total monthly expenses: $507; Gross lease terms; tenant pays electricity, sewer, trash collection, and water; Unfurnished units
• HOA & community: No association fees; Community features: dog park, park, playground; Pets allowed (cats and dogs)

Exterior

• Parking: Attached carport (1 space); Driveway parking; Off-street and on-street parking available; Covered parking and RV/Golf cart parking; Guest parking
• Security: Security lights
• Utilities: Public water; Public sewer; Cable connected and available; Broadband/high-speed internet available; Electricity connected
• Home design: Residential income duplex; Single-story; One building on the lot; Other structures include guest house and storage
• Construction: Block construction; Membrane and shingle roof; Slab foundation; Completed property condition; Built as residential income (duplex)
• Exterior features: Covered front and rear porches; Covered patio/porch areas; Landscaped, level and oversized lot; Near golf course and public transit; Paved, asphalt road access; Public maintained road

Interior

• Kitchen: Range; Electric water heater
• Bedrooms: Four bedrooms total; Unit 1: 3 bedrooms (attached carport, inside private laundry room); Unit 2: 1 bedroom (full kitchen, living room, bedroom)
• Flooring: Carpet; Laminate; Linoleum; Tile; Wood
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Central heating (electric); Central air; Wall/window AC units
• Interior features: Eat-in kitchen; Living room / dining room combo; Split bedroom layout; Inside utility and storage rooms; Private mailbox; Security lights
• Laundry & utility: Inside laundry room; Washer hookup; Electric dryer hookup; Outside laundry hookups (for one unit)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $307k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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); 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); 355 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,534/mo this rent would consume 69% 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 205 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $349k implies a 535% gain — meaningful room to come down on a strong offer.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.01% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $427,638
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Betty Ln	0.75mi	4/4.0	1,500 (-5%)	10mo	$407,000	$271	41

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: -11.3%
• Equity multiple: 0.60×
• Total profit: $-38,955
• Equity at exit: $52,037

10-year hold

• IRR: -7.0%
• Equity multiple: 0.61×
• Total profit: $-37,902
• Equity at exit: $30,175

Cash invested: $97,720 (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 33756

• Rents YoY: -2.2%
• Active inventory: 355
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $3,534 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$378 /mo · $4,531/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $439

Break-even live

Break-even rent $2,979

Max offer price $349,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,534
Total (2 units)			$3,534

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1353 Lakeview Rd Clearwater, FL	3.0	1.0	1360	$1,995	$1.47	24d	1	0.14mi
1009 Chester Dr Clearwater, FL	3.0	2.0	1105	$2,500	$2.26	11d	1	0.27mi
1429 S Evergreen Ave Clearwater, FL	4.0	2.0	1782	$2,781	$1.56	4d	1	0.44mi
1412 Druid Rd E Clearwater, FL	3.0	1.0	1239	$1,995	$1.61	24d	1	0.48mi
1523 S Fredrica Ave Clearwater, FL	3.0	2.0	1284	$2,550	$1.99	24d	1	0.63mi
1581 Lotus Path Clearwater, FL	3.0	2.0	1690	$3,400	$2.01	4d	1	0.67mi
1526 Caldera Ct Clearwater, FL	3.0	2.5	1816	$2,900	$1.60	14d	1	0.80mi
1588 Eunice Ln Clearwater, FL	4.0	2.0	1780	$2,731	$1.53	7d	1	0.81mi
1342 Belleair Rd Clearwater, FL	4.0	2.0	1695	$2,845	$1.68	20d	1	0.82mi
1276 Pierce St Unit 1276 Clearwater, FL	3.0	2.5	1450	$2,550	$1.76	4d	1	0.92mi
1264 Pierce St Clearwater, FL	3.0	2.5	1436	$2,500	$1.74	22d	1	0.92mi
1310 Bayview Dr Clearwater, FL	3.0	2.0	1500	$3,300	$2.20	24d	1	0.95mi
1279 Park St Unit n/a Clearwater, FL	3.0	2.5	1300	$2,450	$1.88	24d	1	0.95mi
1128 Belleair Rd Unit Home Clearwater, FL	3.0	1.0	1326	$1,695	$1.28	24d	1	0.95mi
1574 Ewing Ave Clearwater, FL	3.0	2.0	1324	$2,700	$2.04	4d	1	0.99mi
642 Wells Ct #302 Clearwater, FL	3.0	2.0	1588	$2,795	$1.76	11d	1	1.02mi
1500 Laurel Cir Clearwater, FL	3.0	2.0	1530	$2,650	$1.73	4d	1	1.04mi
1482 Cleveland St Clearwater, FL	3.0	2.0	1110	$2,750	$2.48	4d	1	1.08mi
16 N San Remo Ave Clearwater, FL	3.0	1.0	1249	$1,795	$1.44	24d	1	1.08mi
1571 S Myrtle Ave Clearwater, FL	3.0	2.0	1202	$2,400	$2.00	24d	1	1.13mi
528 Jasmine Way Unit 528 Clearwater, FL	4.0	3.0	2083	$3,000	$1.44	3d	1	1.13mi
113 Kenwood Ave Clearwater, FL	4.0	2.5	2217	$3,000	$1.35	4d	1	1.13mi
1354 Chesterfield Dr Unit 1039504P Clearwater, FL	4.0	2.0	1840	$6,710	$3.65	2d	1	1.27mi
701 Oak Ave Clearwater, FL	4.0	2.0	1250	$3,200	$2.56	24d	1	1.29mi
1773 Eaton Dr Unit 1032113P Clearwater, FL	3.0	2.0	1991	$6,090	$3.06	14d	1	1.30mi
1632 Clearwater Largo Rd Clearwater, FL	3.0	1.0–2.0	961	$2,899	$3.02	2d	25	1.33mi
1321 Chesterfield Dr Unit 1018173P Clearwater, FL	3.0	2.0	1356	$3,967	$2.93	2d	1	1.33mi
1812 Lady Mary Dr Clearwater, FL	3.0	2.0	1531	$2,800	$1.83	3d	1	1.42mi
628 Cleveland St Clearwater, FL	2.0–3.0	2.0	1666	$3,750	$2.25	24d	2	1.42mi
304 Orangewood Ave Clearwater, FL	3.0	2.0	1710	$3,375	$1.97	3d	1	1.45mi
701 Brookside Dr Clearwater, FL	3.0	2.0	1787	$2,755	$1.54	4d	1	1.45mi
905 Jones St Clearwater, FL	3.0	2.0	1072	$2,450	$2.29	24d	1	1.45mi
311 Pennsylvania Ave Clearwater, FL	3.0	2.0	1220	$2,300	$1.89	24d	1	1.46mi

Listing history 9 events

1. 2026-05-11
   status Pending
2. 2026-04-30
   price $349,000
3. 2026-03-13
   price $369,690
4. 2026-02-12
   price $374,900
5. 2025-11-21
   price $375,000
6. 2025-11-04
   price $399,000
7. 2025-10-18
   listed $415,000 Active
8. 1991-05-28
   soldstatus $55,000
9. 1983-11-01
   soldstatus $52,000

ⓘ 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: $4,531 · $378/mo
• Projected year-2 tax: $4,531 · $378/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 · 25 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: $42,408
• − Mortgage interest: −$19,549
• − Property taxes: −$4,531
• − Insurance: −$1,745
• − Repairs & maintenance: −$3,393
• − Management: −$3,393
• − Depreciation: −$10,153
• Taxable loss: −$356
• Est. tax savings @ 24.0%: +$85
• After-tax cash flow: $5,349/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

+571.2% since first listed

9 events — show timeline

• 2026-05-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $369,690 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $374,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-21 Price Changed $375,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-18 Listed $415,000 Stellar MLS as Distributed by MLS Grid
• 1991-05-28 Sold (Public Records) $55,000 Public Records
• 1983-11-01 Sold (Public Records) $52,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $4,531 · +12.9% YoY. Source: county tax records.