2 N Fernwood Ave #7 · Clearwater, FL 33765

$99,900

2 bd · 1.0 ba · 800 sqft · Condo public records · 9 Days on market

Built 1968 $536/mo HOA · 31% 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 +20.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic investment opportunity with great location. First floor, two bedroom, one bathroom condo in the Washington Square subdivision. Updates include newer kitchen cabinets, granite countertops, backsplash and stainless steal appliances. HOA fee includes all exterior maintenance, lawn, pool, water, sewer, and trash. Roof replaced 2023. Assigned parking space located directly in front of unit. Property is conveniently located near Clearwater beach, shopping, restaurants, Tampa airport, Clearwater airport, and US-19. FHA, VA, and Conventional financing Not approved for this building due to the amount of rentals. Currently tenant occupied at $1400 on month to month lease. Call listing agent direct for showings.

Key facts

• Granite countertops
• Roof replaced
• $536 HOA

Tags

• NEWER KITCHEN CABINETS
• GRANITE COUNTERTOPS
• STAINLESS STEAL APPLIANCES
• ASSIGNED PARKING SPACE
• ROOF REPLACED

Property features AI

Finance

• Other: Lease restrictions apply
• HOA & community: HOA managed by Qualified Property Management; Monthly HOA fee of $536 (includes pool, structure maintenance, grounds maintenance, sewer, trash, water); Association approval required; Community pool; Pets allowed

Exterior

• Utilities: Public water; Public sewer; Electricity connected
• Home design: Condominium; Residential property; 2 total stories; Faces east; Located on level 1
• Construction: Block construction; Shingle roof; Concrete perimeter foundation; Slab foundation; Built as part of WASHINGTON SQ
• Exterior features: Outdoor lighting; In-ground private pool

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan; Solid surface counters; Thermostat
• 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 $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 7.9% 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; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $24k; list at $100k implies a 308% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1968 — 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: 1.72% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 4.8

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: -12.9%
• Equity multiple: 0.56×
• Total profit: $-12,431
• Equity at exit: $14,895

10-year hold

• IRR: -14.6%
• Equity multiple: 0.36×
• Total profit: $-17,977
• 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 33765

• Home prices YoY: -31.8%
• Rents YoY: -4.6%
• Active inventory: 83
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,718 high
• Mortgage (P&I): −$524
• Tax from tax record: −$123 /mo · $1,476/yr
• Insurance: −$42
• HOA: −$536
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $132

Break-even live

Break-even rent $1,550

Max offer price $99,900

Occupancy floor 87%

Sensitivity live

Price	-10% $189	-5% $161	+0% $132	+5% $104	+10% $76
Rent	-10% $-3	-5% $65	+0% $132	+5% $200	+10% $268
Rate	-1.0pp $183	-0.5pp $158	base $132	+0.5pp $107	+1.0pp $80

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
2 N Fernwood Ave #14 Clearwater, FL	2.0	1.0	800	$1,550	$1.94	13d	1	0.02mi
2 N Fernwood Ave Clearwater, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.02mi
2370 Chaucer St Clearwater, FL	3.0	1.0	1100	$2,500	$2.27	5d	1	0.17mi
2381 Chaucer St Clearwater, FL	2.0	1.0	1000	$1,950	$1.95	2d	1	0.19mi
2366 Shelley St #12 Clearwater, FL	1.0	1.0	585	$1,550	$2.65	25d	1	0.21mi
2366 Shelley St Clearwater, FL	1.0	1.0	585	$1,425	$2.44	15d	2	0.21mi
2348 Shelley St #9 Clearwater, FL	2.0	1.0	950	$2,200	$2.32	25d	1	0.22mi
2353 Shelley St #11 Clearwater, FL	1.0	1.0	585	$1,150	$1.97	25d	1	0.25mi
25 N Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	780	$2,026	$2.60	2d	12	0.37mi
101 S Old Coachman Rd Clearwater, FL	3.0	1.0–2.0	983	$2,296	$2.34	4d	16	0.39mi
2346 Druid Rd #1106 Clearwater, FL	2.0	2.0	1008	$1,495	$1.48	17d	1	0.55mi
730 N Old Coachman Rd Clearwater, FL	2.0	2.0	950	$1,705	$1.79	3d	3	0.60mi
2168 Druid Rd E Clearwater, FL	1.0–3.0	1.0–2.0	1049	$2,532	$2.41	4d	20	0.72mi
300 Gunn Ave Unit 7 Clearwater, FL	1.0	1.0	525	$1,150	$2.19	11d	1	0.73mi
300 Gunn Ave Unit 9 Clearwater, FL	1.0	1.0	525	$1,130	$2.15	25d	1	0.73mi
308 Gunn Ave Unit 308 Clearwater, FL	1.0	1.0	650	$1,400	$2.15	18d	1	0.73mi
20000 US Highway 19 N Unit 610 Clearwater, FL	1.0	1.0	800	$1,150	$1.44	25d	1	0.80mi
2690 Drew St Clearwater, FL	1.0–3.0	1.0–2.0	974	$1,500	$1.54	2d	12	0.82mi
20000 US Highway 19 N #612 Clearwater, FL	2.0	2.0	800	$1,300	$1.62	25d	1	0.82mi
411 S Nimbus Ave Unit 3 Clearwater, FL	1.0	1.0	700	$1,395	$1.99	18d	1	0.86mi
2600 W Grand Reserve Cir Clearwater, FL	1.0–3.0	1.0–2.0	1097	$2,145	$1.96	2d	36	0.86mi
530 Fairwood Ave Clearwater, FL	2.0–3.0	1.0–2.0	1042	$1,309	$1.26	3d	27	0.92mi
2025 Rogers St Clearwater, FL	1.0–3.0	1.0–2.0	985	$1,874	$1.90	11d	10	0.93mi
2060 Marilyn St #207 Clearwater, FL	1.0	1.0	750	$1,350	$1.80	18d	1	0.93mi
2060 Marilyn St #127 Clearwater, FL	1.0	1.0	750	$1,350	$1.80	25d	1	0.96mi
2481 NE Coachman Rd Clearwater, FL	1.0–2.0	1.0–2.0	762	$2,023	$2.65	2d	14	0.96mi
1001 Pearce Dr #302 Clearwater, FL	1.0	1.5	1048	$1,750	$1.67	5d	1	1.01mi
601 N Hercules Ave #508 Clearwater, FL	2.0	2.0	945	$1,650	$1.75	25d	1	1.03mi
1330 Moreland Dr Clearwater, FL	2.0	2.0	1192	$2,125	$1.78	25d	3	1.18mi
309 S Arcturas Ave #6 Clearwater, FL	1.0	1.0	650	$1,200	$1.85	3d	1	1.19mi
311 S Arcturas Ave Unit 3 Clearwater, FL	1.0	1.0	775	$1,200	$1.55	11d	1	1.19mi
2236 Morningside Dr Clearwater, FL	2.0	1.5	902	$2,200	$2.44	4d	1	1.20mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	25d	1	1.20mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	4d	1	1.20mi
310 S Arcturas Ave Unit 3 Clearwater, FL	2.0	1.0	840	$1,599	$1.90	25d	1	1.23mi
2729 Seville Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1057	$2,432	$2.30	2d	33	1.25mi
2625 Florida 590 Unit 1414 Clearwater, FL	1.0	1.0	600	$1,300	$2.17	25d	1	1.25mi
1903 Rainbow Dr Unit 10 Clearwater, FL	2.0	1.0	850	$1,500	$1.76	25d	1	1.26mi
2403 Brigadoon Dr Clearwater, FL	2.0	2.5	1088	$3,100	$2.85	5d	1	1.34mi
1733 Ragland Ave Clearwater, FL	3.0	2.0	1092	$2,431	$2.23	4d	1	1.36mi

HOA detail condo

• Monthly dues: $536 · $6,432/yr
• Likely covers: watersewertrashexterior maint.poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $99,900 Active 9 DOM
2. 2026-06-17
   days on market $99,900 Active 8 DOM
3. 2026-06-16
   days on market $99,900 Active 7 DOM
4. 2026-06-15
   days on market $99,900 Active 6 DOM
5. 2026-06-13
   days on market $99,900 Active 4 DOM
6. 2026-06-10
   remarks 699-char remark
7. 2026-06-10
   listed $99,900 Active 1 DOM

ⓘ 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: $1,476 · $123/mo
• Projected year-2 tax: $1,476 · $123/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 · 28 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: $20,612
• − Mortgage interest: −$5,596
• − Property taxes: −$1,476
• − Insurance: −$500
• − Repairs & maintenance: −$1,649
• − Management: −$1,649
• − HOA: −$6,432
• − Depreciation: −$2,906
• Taxable income: $405
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $1,492/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

+307.8% since first listed

4 events — show timeline

• 2026-06-09 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-06-09 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2024-05-21 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 1999-09-08 Sold (Public Records) $24,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,476 · -14.9% YoY. Source: county tax records.