2434 Australia Way E #12 · Clearwater, FL 33763

$114,900

2 bd · 1.0 ba · 1,100 sqft · Condo public records · 1 Days on market

Built 1968 $488/mo HOA · 29% 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 +21.2/30.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Welcome to this beautifully updated 2-bedroom, 1-bath first-floor CORNER UNIT in the highly sought-after 55+ community of On Top of the World! Situated in a FEE SIMPLE building!! Enjoy added privacy with only one adjoining neighbor and the convenience of being just a short distance from the clubhouse and community amenities. This move-in ready home features fresh interior paint and brand-new luxury vinyl flooring in both bedrooms. The spacious floor plan includes a bright Florida room, washer and dryer hookup, a designated parking space, and a separate storage room perfect for seasonal items and extra belongings. Residents of On Top of the World enjoy

Key facts

• Two activity centers
• Fee simple building
• Bright florida room

Tags

• FIRST FLOOR CORNER UNIT
• FEE SIMPLE BUILDING
• BRIGHT FLORIDA ROOM
• DESIGNATED PARKING SPACE
• SEPARATE STORAGE ROOM
• TWO ACTIVITY CENTERS

Property features AI

Finance

• Other: Unit is unfurnished; Senior community
• Financial info: Total monthly fees listed as $488; total annual fees listed as $5,856; Lease restrictions apply
• HOA & community: Monthly HOA fee: $488 (includes cable TV, pool, structure and grounds maintenance, management, private road, recreational facilities, sewer, trash, water); Association name: On Top of the World Condo Assoc., Inc.; Association approval required; Community amenities: fitness center, golf, pool, tennis courts, sidewalks, irrigation with reclaimed water; association recreation (lease); Pets allowed

Exterior

• Parking: Guest parking; Reserved parking
• Utilities: Public water; Public sewer; Electricity available and connected; Cable available; BB/HS Internet available; Phone available; Water connected
• Home design: Condominium; One story; Entry level: 1; Faces southwest; Accessible bedroom; Accessible full bathroom
• Construction: Block and stucco construction; Membrane roof; Slab foundation; Old World Spanish building style (building 2434)
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Thermostat; Window treatments; Blinds
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 8.0% 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 soft (-2.6%/yr); 288 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).
• This rent runs 37% of the median local income ($55k/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 $794 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $46k; list at $115k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: 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 $114,900

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: 1.48% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 5.6

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: -11.4%
• Equity multiple: 0.60×
• Total profit: $-12,749
• Equity at exit: $17,132

10-year hold

• IRR: -9.8%
• Equity multiple: 0.51×
• Total profit: $-15,649
• Equity at exit: $9,934

Cash invested: $32,172 (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 33763

• Rents YoY: -2.6%
• Active inventory: 288
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,698 high
• Mortgage (P&I): −$603
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$48
• HOA: −$488
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $166

Break-even live

Break-even rent $1,488

Max offer price $114,900

Occupancy floor 85%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2434 Australia Way E #50 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	1d	1	0.03mi
2433 Brazilia Dr #49 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	24d	1	0.04mi
2020 World Parkway Blvd #54 Clearwater, FL	2.0	2.0	1400	$1,795	$1.28	10d	1	0.09mi
2451 Canadian Way Clearwater, FL	2.0	1.0–2.0	1250	$1,598	$1.28	7d	2	0.15mi
2464 Australia Way E #24 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.15mi
2463 Brazilia Dr #61 Clearwater, FL	2.0	1.0	1100	$1,450	$1.32	24d	1	0.15mi
2040 World Parkway Blvd #34 Clearwater, FL	2.0	2.0	1400	$1,650	$1.18	24d	1	0.16mi
2450 Canadian Way #26 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	24d	1	0.20mi
2042 Australia Way W Clearwater, FL	1.0	1.0	825	$1,350	$1.64	10d	1	0.21mi
2071 Australia Way W #29 Clearwater, FL	2.0	2.0	1100	$1,525	$1.39	24d	1	0.22mi
2428 Columbia Dr #68 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	4d	1	0.26mi
2429 Ecuadorian Way #65 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	4d	1	0.27mi
2380 World Parkway Blvd #56 Clearwater, FL	1.0	2.0	1244	$1,200	$0.96	3d	1	0.28mi
2448 Columbia Dr #72 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	23d	1	0.28mi
2458 Columbia Dr #64 Clearwater, FL	1.0	1.0	825	$1,275	$1.55	24d	1	0.30mi
2361 Ecuadorian Way #45 Clearwater, FL	2.0	2.0	1400	$1,700	$1.21	4d	1	0.31mi
2310 Denmark St Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	14d	1	0.31mi
2311 Brisbane St #65 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	12d	1	0.32mi
2402 Ecuadorian Way Clearwater, FL	2.0	2.0	1400	$1,800	$1.29	24d	2	0.34mi
2402 Ecuadorian Way #28 Clearwater, FL	2.0	2.0	1400	$1,900	$1.36	4d	1	0.35mi
2378 Ecuadorian Way #38 Clearwater, FL	2.0	2.0	1400	$1,800	$1.29	2d	1	0.35mi
2456 Ecuadorian Way #42 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	4d	1	0.36mi
2466 Ecuadorian Way #32 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.37mi
2358 Ecuadorian Way #56 Clearwater, FL	2.0	2.0	1100	$1,500	$1.36	3d	1	0.38mi
2455 Finlandia Ln #67 Clearwater, FL	2.0	2.0	1100	$1,495	$1.36	11d	1	0.38mi
2578 Sea Wind Way Clearwater, FL	2.0	2.5	1252	$2,100	$1.68	24d	1	0.38mi
2359 Finlandia Ln Clearwater, FL	2.0	2.0–20.0	1100	$1,400	$1.27	17d	2	0.39mi
2331 Finlandia Ln #53 Clearwater, FL	1.0	1.0	825	$1,345	$1.63	3d	1	0.43mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	7d	1	0.47mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	2d	1	0.47mi
2284 Philippine Dr #59 Clearwater, FL	2.0	2.0	1100	$1,795	$1.63	21d	1	0.51mi
2400 Franciscan Dr #44 Clearwater, FL	1.0	1.0	735	$1,200	$1.63	24d	1	0.53mi
2405 Franciscan Dr #23 Clearwater, FL	2.0	2.0	1400	$1,875	$1.34	20d	1	0.54mi
2256 Philippine Dr Clearwater, FL	2.0	2.0	1400	$1,550	$1.11	24d	1	0.57mi
2550 Stag Run Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1189	$1,870	$1.57	1d	19	0.66mi
2031 Glass Loop Clearwater, FL	1.0–3.0	1.0–2.0	1058	$2,402	$2.27	2d	34	0.68mi
25350 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	875	$1,732	$1.98	2d	28	0.71mi
2363 Israeli Dr #67 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.72mi
2262 Swedish Dr #10 Clearwater, FL	2.0	2.0	1115	$2,000	$1.79	24d	1	0.74mi
2460 Persian Dr #44 Clearwater, FL	2.0	2.0	1100	$1,800	$1.64	4d	1	0.80mi

HOA detail condo

• Monthly dues: $488 · $5,856/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-01
   status $114,900 Pending 1 DOM
2. 2026-05-31
   remarks 699-char remark
3. 2026-05-31
   listed $114,900 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: $445 · $37/mo
• Projected year-2 tax: $954 · $79/mo
• Expected delta: +$508/yr (+$42/mo · 114.1%)

ⓘ 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 · 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: $20,381
• − Mortgage interest: −$6,436
• − Property taxes: −$445
• − Insurance: −$574
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − HOA: −$5,856
• − Depreciation: −$3,343
• Taxable income: $466
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $1,883/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

• County: Pinellas County · 939,478 people
• City population: 170,933
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,146
• Household income: $54,794
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 753.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 81% English-only · Spanish 10% Other Indo-European 3% Russian/Polish/Slavic 1%

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: ▼ -439.90%
• Current HPI: 265.3099
• Rent YoY: ▼ -2.63%
• 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

+152.5% since first listed

2 events — show timeline

• 2026-05-30 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 1983-04-01 Sold (Public Records) $45,500 Public Records

Property tax history

-5.6%/yr

Latest (2025): $445 · +4.7% YoY. Source: county tax records.