2331 Belleair Rd #715 · Largo, FL 33764

$84,900

2 bd · 2.0 ba · 876 sqft · Manufactured public records · 174 Days on market

Built 1972 Est $121k · 30% under $285/mo HOA · 14% of rent ↓ 26% since listing

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

Welcome to this furnished two-bedroom, two bath mobile home offering comfortable, low maintenance Florida living in a resident-owned 55+ community in Clearwater. The $40,000 land share is included in the purchase price, adding significant value and ownership peace of mind. Ideally located just a short distance to the Gulf beaches, spring training fields, shopping, and dining, this home gives the freedom to enjoy everything the area has. The open living and dining areas feature attractive wood-look flooring and a striking stone accent wall with an ELECTRIC FIREPLACE complemented by a mounted 55-inch television for added convenience and style. The kitchen is well appointed with GRANITE counte

Key facts

• Stone accent wall
• Gulf beaches
• Electric fireplace

Tags

• FURNISHED MOBILE HOME
• RESIDENT OWNED COMMUNITY
• GULF BEACHES
• STONE ACCENT WALL
• ELECTRIC FIREPLACE
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Furnished; Lease restrictions apply; Condo land included
• Financial info: Total monthly fees listed as $285; total annual fees listed as $3,420
• HOA & community: Monthly association fee of $285; Association amenities include clubhouse, laundry, maintenance, and pool; Association approval required; Association management: Stephanie Nistor, Creative Management; Community features: Association-owned recreation, clubhouse, golf carts allowed, no truck/RV/motorcycle parking, pool; Senior community; Pets not allowed

Exterior

• Parking: Covered parking; Driveway; 2-space carport
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available
• Home design: Residential mobile home; Double-wide; One story; Faces north; Entry level: One
• Construction: Vinyl siding; Membrane roof; Built on crawlspace
• Exterior features: Awning(s); Private mailbox; Storage; Heated in-ground pool; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Crawlspace foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 4.2% in Largo — 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 (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities F.
• 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 18d 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 $587 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 174 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.33% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.85%
• DSCR: 2.55
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $120,888
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2331 Belleair Rd #214	0.00mi	2/1.5	780 (-11%)	1mo	$108,000	$138	79

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-2,286
• Equity at exit: $12,659

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-856
• Equity at exit: $7,341

Cash invested: $23,772 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$285
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $264

Break-even live

Break-even rent $1,643

Max offer price $84,900

Occupancy floor 82%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2207 Belleair Rd Unit B7 Clearwater, FL	2.0	1.0	857	$1,800	$2.10	20d	1	0.27mi
2207 Belleair Rd Unit B4 Clearwater, FL	2.0	1.0	857	$1,625	$1.90	15d	1	0.27mi
2225 Nursery Rd Clearwater, FL	2.0	1.0–2.0	802	$1,850	$2.31	24d	1	0.36mi
1550 S Belcher Rd Clearwater, FL	1.0	1.0	825	$1,350	$1.64	4d	1	0.48mi
2159 Nursery Rd Clearwater, FL	1.0–3.0	1.0–2.0	870	$1,481	$1.70	2d	10	0.53mi
2102 Nursery Rd Unit 2 Clearwater, FL	2.0	2.0	960	$1,555	$1.62	15d	1	0.60mi
1433 S Belcher Rd Unit F9 Clearwater, FL	2.0	2.0	855	$2,450	$2.87	2d	1	0.61mi
1433 S Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	748	$2,450	$3.27	20d	2	0.65mi
2100 Nursery Rd Clearwater, FL	1.0–2.0	1.0–2.0	910	$1,750	$1.92	3d	10	0.68mi
2554 Oak Trl S Clearwater, FL	1.0–2.0	1.0–2.0	862	$2,131	$2.47	2d	14	0.69mi
1564 Flournoy Cir W Unit 1515105P Clearwater, FL	2.0	2.0	990	$5,329	$5.38	15d	1	0.75mi
1515 Flournoy Loop Unit 1511623P Clearwater, FL	1.0	1.0	796	$4,866	$6.11	2d	1	0.78mi
1515 Flournoy Loop Unit 1511622P Clearwater, FL	1.0	1.0	796	$3,057	$3.84	15d	1	0.78mi
1551 Flournoy Cir W Clearwater, FL	1.0–3.0	1.0–2.0	916	$2,086	$2.28	2d	32	0.78mi
2705 Via Murano #125 Clearwater, FL	1.0	1.0	890	$1,795	$2.02	24d	1	0.81mi
2705 Via Murano #136 Clearwater, FL	2.0	1.0	980	$2,100	$2.14	18d	1	0.81mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	24d	1	0.84mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	4d	1	0.84mi
2723 Via Capri #834 Clearwater, FL	1.0	1.0	770	$1,875	$2.44	4d	1	0.85mi
1000 Cove Cay Dr Unit 2F Clearwater, FL	2.0	2.0	960	$2,295	$2.39	24d	1	0.85mi
2236 Morningside Dr Clearwater, FL	2.0	1.5	902	$2,200	$2.44	4d	1	0.86mi
1330 Moreland Dr Clearwater, FL	2.0	2.0	1192	$2,125	$1.78	24d	3	0.87mi
2721 Via Murano #324 Clearwater, FL	1.0	1.0	770	$1,750	$2.27	4d	1	0.88mi
2724 Via Murano #634 Clearwater, FL	1.0	1.0	890	$1,695	$1.90	24d	1	0.90mi
2732 Via Murano #527 Clearwater, FL	2.0	2.0	1110	$2,800	$2.52	24d	1	0.95mi
19029 US Highway 19 N Unit 6-10 Clearwater, FL	1.0	1.0	875	$1,300	$1.49	4d	1	0.99mi
1819 Clearbrooke Dr Clearwater, FL	2.0	1.5	997	$2,125	$2.13	18d	1	1.04mi
2700 Cove Cay Dr Unit 1-5D Clearwater, FL	1.0	1.5	920	$1,750	$1.90	24d	1	1.04mi
1884 Clearbrooke Dr Clearwater, FL	2.0	2.0	997	$2,300	$2.31	24d	1	1.08mi
19029 U.S. 19 Unit 7-8 Clearwater, FL	2.0	2.0	1060	$2,200	$2.08	18d	1	1.11mi
19029 U.S. 19 Unit 1-19 Clearwater, FL	1.0	1.5	950	$2,000	$2.11	22d	1	1.11mi
19135 US Highway 19 N Clearwater, FL	1.0–4.0	1.0–2.5	1139	$1,849	$1.62	2d	30	1.12mi
2755 Via Capri #1226 Clearwater, FL	2.0	1.0	980	$2,798	$2.86	4d	1	1.12mi
2755 Via Capri #1237 Clearwater, FL	1.0	1.0	980	$2,000	$2.04	22d	1	1.12mi
1653 Bravo Dr Clearwater, FL	1.0	1.0	850	$2,200	$2.59	4d	1	1.13mi
16485 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	984	$2,877	$2.92	2d	249	1.15mi
16485 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	984	$3,006	$3.06	18d	100	1.15mi
2618 Cove Cay Dr Clearwater, FL	1.0–2.0	1.0–2.0	807	$1,850	$2.29	24d	2	1.24mi
2618 Cove Cay Dr #909 Clearwater, FL	2.0	2.0	1050	$1,850	$1.76	20d	1	1.25mi
4500 E Bay Dr #149 Clearwater, FL	2.0	2.0	1050	$1,850	$1.76	24d	1	1.26mi

HOA detail

• Monthly dues: $285 · $3,420/yr
• Likely covers: waterelectric

Listing history 15 events

1. 2026-06-18
   days on market $84,900 Active 174 DOM
2. 2026-06-17
   days on market $84,900 Active 173 DOM
3. 2026-06-16
   days on market $84,900 Active 172 DOM
4. 2026-06-15
   days on market $84,900 Active 171 DOM
5. 2026-06-13
   days on market $84,900 Active 169 DOM
6. 2026-06-09
   days on market $84,900 Active 165 DOM
7. 2026-06-08
   days on market $84,900 Active 164 DOM
8. 2026-06-07
   days on market $84,900 Active 163 DOM
9. 2026-06-04
   days on market $84,900 Active 160 DOM
10. 2026-06-03
    days on market $84,900 Active 159 DOM
11. 2026-06-01
    days on market $84,900 Active 157 DOM
12. 2026-05-31
    days on market $84,900 Active 156 DOM
13. 2026-04-17
    price $84,900
14. 2026-01-23
    price $99,500
15. 2025-12-26
    listed $115,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $23,727
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$5,543
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − HOA: −$3,420
• − Depreciation: −$2,470
• Taxable income: $2,469
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $2,573/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• 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

-26.2% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $84,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $99,500 Stellar MLS as Distributed by MLS Grid
• 2025-12-26 Listed $115,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-13.5%/yr

Latest (2025): $116 · +26.1% YoY. Source: county tax records.