2650 Countryside Blvd Unit B302 · Clearwater, FL 33761

$119,500

2 bd · 2.0 ba · 1,070 sqft · Condo public records · 27 Days on market

Built 1978 $694/mo HOA · 37% 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 +16.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderfully located in the heart of Countryside, this 2-bedroom, 2-bathroom condo offers the perfect blend of convenience and peaceful surroundings. Featuring a functional layout with endless potential to update and make it your own, this home includes a screened balcony with a private storage closet, spacious living areas, and a primary suite with two oversized built-in closets. The interior laundry closet adds everyday convenience, while the elevator, just steps from the front door, provides easy access. Enjoy the comfort of a designated parking space visible directly from the condo, along with additional guest parking conveniently located near the building entrance. Residents can relax a

Key facts

• Screened balcony
• Scenic ponds
• $694 HOA

Tags

• SCREENED BALCONY
• PRIVATE STORAGE CLOSET
• INTERIOR LAUNDRY CLOSET
• DESIGNATED PARKING SPACE
• SCENIC PONDS
• COVERED GATHERING AREA

Property features AI

Finance

• Other: Directions: From 580 turn south onto Countryside Blvd, turn right into Rustlewood, building B to the left
• Financial info: Annual association fees approximately $8,328; Lease restrictions apply
• HOA & community: Monthly condo fee of $694 (includes pool, management, grounds and structure maintenance, sewer, water, trash, insurance, escrow reserves); Association approval required; Community clubhouse and pool; Community mailbox; Sidewalks; Pets allowed

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected
• Home design: Condominium; Third-floor unit; West-facing; One level entry
• Construction: Block and stucco construction; Tile roof; Slab foundation; Built as part of building B (unit B302)
• Exterior features: Outdoor lighting; Outdoor shower; Sidewalks; Paved road access; Irrigation equipment

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open living/dining layout; Thermostat; Building has elevator
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $78 ($934/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.0% 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: Leila Davis Elementary School (math 66% / reading 69%, grade B+, #435 of 2,144 statewide, top 21%, 665 students, 35% FRL); Countryside High School (math 25% / reading 45%, grade F, #379 of 667 statewide, top 58%, 1,741 students, 44% FRL).
• Market conditions: Rents flat; 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 30% of the median local income ($75k/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 $826 of loan paydown is wiped out by about $4k 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 27 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $120k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 37% 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 $117,707 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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: 1.58% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.11% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.42×
• Total profit: $-19,348
• Equity at exit: $17,818

10-year hold

• IRR: -22.3%
• Equity multiple: 0.12×
• Total profit: $-29,527
• Equity at exit: $10,332

Cash invested: $33,460 (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 33761

• Rents YoY: 0.1%
• Active inventory: 205
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,886 high
• Mortgage (P&I): −$627
• Tax from tax record: −$41 /mo · $498/yr
• Insurance: −$50
• HOA: −$694
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $78

Break-even live

Break-even rent $1,787

Max offer price $119,500

Occupancy floor 91%

Sensitivity live

Price	-10% $145	-5% $112	+0% $78	+5% $44	+10% $10
Rent	-10% $-71	-5% $3	+0% $78	+5% $152	+10% $227
Rate	-1.0pp $138	-0.5pp $108	base $78	+0.5pp $47	+1.0pp $15

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2673 Sabal Springs Cir #201 Clearwater, FL	1.0	1.5	805	$2,675	$3.32	8d	1	0.26mi
2581 Countryside Blvd Unit 304 Clearwater, FL	2.0	2.0	1200	$2,100	$1.75	25d	1	0.26mi
2713 Countryside Blvd #108 Clearwater, FL	2.0	2.0	1100	$1,850	$1.68	4d	1	0.26mi
2561 Forest Run Ct Clearwater, FL	3.0	2.0	1145	$2,000	$1.75	4d	1	0.31mi
2690 Enterprise Rd E Clearwater, FL	1.0–2.0	1.0–2.0	1051	$2,564	$2.44	4d	9	0.47mi
2524 Alexander Pl Clearwater, FL	1.0–3.0	1.0–2.0	991	$2,090	$2.11	3d	20	0.78mi
305 Hammock Pine Blvd #305 Clearwater, FL	1.0	1.5	760	$1,500	$1.97	25d	1	0.81mi
2386 Sumatran Way #14 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	18d	1	0.85mi
2999 Fieldbrook Pl Clearwater, FL	2.0	2.0	1164	$2,300	$1.98	25d	1	0.89mi
2384 Tahitian Ln #28 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	25d	1	0.90mi
2780 Cypress Dr Unit A Clearwater, FL	2.0	1.0	900	$1,749	$1.94	22d	1	0.91mi
2471 Sumatran Way Clearwater, FL	2.0	2.0	1400	$1,500	$1.07	18d	2	0.91mi
2307 Cumberland Cir Clearwater, FL	1.0–2.0	1.0–2.0	873	$2,099	$2.40	4d	15	0.92mi
2971 Estancia Blvd #321 Clearwater, FL	2.0	2.0	995	$1,975	$1.98	5d	1	0.94mi
2460 Persian Dr #44 Clearwater, FL	2.0	2.0	1100	$1,800	$1.64	5d	1	0.99mi
3038 Eastland Blvd Unit F101 Clearwater, FL	2.0	2.0	1030	$1,775	$1.72	5d	1	1.00mi
3042 Eastland Blvd Unit H110 Clearwater, FL	2.0	2.0	1030	$1,700	$1.65	25d	1	1.01mi
3048 Eastland Blvd Unit C105 Clearwater, FL	1.0	1.0	750	$1,525	$2.03	25d	1	1.02mi
3034 Eastland Blvd Clearwater, FL	1.0	1.0	720	$1,500	$2.08	25d	1	1.02mi
2780 Park Dr Unit D 4 Clearwater, FL	2.0	1.5	900	$1,625	$1.81	25d	1	1.03mi
25350 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	875	$1,732	$1.98	3d	28	1.05mi
2652 N McMullen Booth Rd Clearwater, FL	1.0–3.0	1.0–2.0	1037	$1,698	$1.64	2d	15	1.05mi
2500 Winding Creek Blvd Clearwater, FL	1.0–2.0	1.0–2.0	812	$1,700	$2.09	3d	3	1.11mi
2500 Winding Creek Blvd Clearwater, FL	2.0	2.0	946	$1,675	$1.77	4d	2	1.11mi
2500 Winding Creek Blvd Unit C205 Clearwater, FL	2.0	2.0	946	$1,700	$1.80	5d	1	1.13mi
3062 Eastland Blvd #202 Clearwater, FL	2.0	2.0	1250	$2,300	$1.84	25d	1	1.13mi
3062 Eastland Blvd Unit D11 Clearwater, FL	1.0	1.0	920	$1,695	$1.84	25d	1	1.13mi
28488 U.S. 19 Unit 150 Clearwater, FL	3.0	1.5	990	$1,500	$1.52	12d	1	1.18mi
2363 Israeli Dr #67 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	25d	1	1.23mi
373 Majesty Dr Unit 373 Clearwater, FL	2.0	2.0	1200	$1,600	$1.33	25d	1	1.25mi
2405 Franciscan Dr #23 Clearwater, FL	2.0	2.0	1400	$1,875	$1.34	21d	1	1.26mi
2400 Franciscan Dr #44 Clearwater, FL	1.0	1.0	735	$1,200	$1.63	25d	1	1.32mi
2257 Palmwood Dr Dunedin, FL	3.0	2.0	1150	$2,475	$2.15	5d	1	1.33mi
2455 Finlandia Ln #67 Clearwater, FL	2.0	2.0	1100	$1,495	$1.36	12d	1	1.36mi
2466 Ecuadorian Way #32 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	25d	1	1.37mi
2456 Ecuadorian Way #42 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	5d	1	1.39mi
1430 Heather Ridge Blvd #304 Dunedin, FL	1.0	1.0	915	$1,500	$1.64	25d	1	1.40mi
2323 Surrey Ln Clearwater, FL	2.0	2.0	1280	$2,250	$1.76	22d	1	1.42mi
2262 Swedish Dr #10 Clearwater, FL	2.0	2.0	1115	$2,000	$1.79	25d	1	1.43mi
2402 Ecuadorian Way #28 Clearwater, FL	2.0	2.0	1400	$1,900	$1.36	5d	1	1.44mi

HOA detail condo

• Monthly dues: $694 · $8,328/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $119,500 Active 27 DOM
2. 2026-06-17
   days on market $119,500 Active 26 DOM
3. 2026-06-16
   days on market $119,500 Active 25 DOM
4. 2026-06-15
   days on market $119,500 Active 24 DOM
5. 2026-06-13
   pricedays on market $119,500 Active 22 DOM
6. 2026-06-09
   days on market $124,900 Active 18 DOM
7. 2026-06-08
   days on market $124,900 Active 17 DOM
8. 2026-06-07
   days on market $124,900 Active 16 DOM
9. 2026-06-04
   days on market $124,900 Active 13 DOM
10. 2026-06-03
    days on market $124,900 Active 12 DOM
11. 2026-06-02
    days on market $124,900 Active 11 DOM
12. 2026-06-01
    days on market $124,900 Active 10 DOM
13. 2026-05-31
    days on market $124,900 Active 9 DOM
14. 2026-05-22
    listed $124,900 Active
15. 1998-09-14
    soldstatus $53,500
16. 1991-10-30
    soldstatus $46,000
17. 1990-07-10
    soldstatus $58,000
18. 1987-05-06
    soldstatus $53,000

ⓘ 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: $498 · $41/mo
• Projected year-2 tax: $992 · $83/mo
• Expected delta: +$494/yr (+$41/mo · 99.3%)

ⓘ 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: $22,629
• − Mortgage interest: −$6,694
• − Property taxes: −$498
• − Insurance: −$598
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$8,328
• − Depreciation: −$3,476
• Taxable loss: −$585
• Est. tax savings @ 24.0%: +$140
• After-tax cash flow: $1,074/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): 18,290
• Household income: $74,728
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 336.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Asian 4%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 4% Italian 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 83% English-only · Spanish 5% Russian/Polish/Slavic 4% Other Indo-European 3%

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: ▼ -316.31%
• Current HPI: 281.6948
• Rent YoY: ▲ 0.11%
• 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

+135.7% since first listed

5 events — show timeline

• 2026-05-22 Listed $124,900 Stellar MLS as Distributed by MLS Grid
• 1998-09-14 Sold (Public Records) $53,500 Public Records
• 1991-10-30 Sold (Public Records) $46,000 Public Records
• 1990-07-10 Sold (Public Records) $58,000 Public Records
• 1987-05-06 Sold (Public Records) $53,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $498 · +4.1% YoY. Source: county tax records.