401 S Nimbus Ave · Clearwater, FL 33765

$640,000

12 bd · 3.0 ba · 2,192 sqft · MultiFamily public records · 110 Days on market

Built 1957 9,897 sqft lot

---

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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent opportunity for investment income! This well maintained triplex is centrally located right off of Gulf-to-Bay blvd. All three units are rented with great tenants. Two of the units have central a/c systems (replaced in 2016 & 2022 respectively), the third has wall units. The roof was replaced in 2015 and has plenty of life left in it. Covered parking and a laundry closet add to tenant quality of living. Call today for more info.

Key facts

• Covered parking
• Centrally located
• Laundry closet

Tags

• TRIPLEX
• CENTRALLY LOCATED
• CENTRAL A/C SYSTEMS
• ROOF REPLACED
• COVERED PARKING
• LAUNDRY CLOSET

Property features AI

Finance

• Financial info: Gross income reported: $47,940; Annual net income reported: $32,140; Annual expenses reported: $15,800; Total monthly expenses: $1,316; Tenants pay electricity
• HOA & community: No association/HOA

Exterior

• Parking: Carport with 3 spaces
• Utilities: Public water; Public sewer; Public utilities
• Home design: Residential income property (Triplex); Single-story
• Construction: Block construction; Shingle roof; Slab foundation; Built as a single building
• Exterior features: Sidewalk

Interior

• Bedrooms: Total of 4 bedrooms; Unit breakdown: two 1-bedroom units and one 2-bedroom unit (total 3 units)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric heating; Ductless heating; Central air conditioning; Wall/window air conditioning units
• Interior features: Open floorplan; Thermostat
• Laundry & utility: Laundry in common area; Laundry closet; Outdoor laundry access

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $640k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $640k).
• Recommended offer: $582k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $6,936/mo this rent would consume 120% of the median local household income ($69k/yr) (locally 604% 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 $4k of loan paydown is wiped out by about $19k 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 110 days — a 9% lower offer ($582k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $87k; list at $640k implies a 636% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $582,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% 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 1957 — 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: 1.08% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.7

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-44,323
• Equity at exit: $95,426

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-14,551
• Equity at exit: $55,336

Cash invested: $179,200 (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: 23.1×

Monthly cashflow live

• Estimated rent: $6,936 medium
• Mortgage (P&I): −$3,356
• Tax from tax record: −$605 /mo · $7,257/yr
• Insurance: −$267
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,457
• Net cashflow: $1,252

Break-even live

Break-even rent $5,351

Max offer price $640,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,614	-5% $1,433	+0% $1,252	+5% $1,071	+10% $889
Rent	-10% $704	-5% $978	+0% $1,252	+5% $1,526	+10% $1,800
Rate	-1.0pp $1,574	-0.5pp $1,415	base $1,252	+0.5pp $1,086	+1.0pp $917

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$6,936
Total (3 units)			$6,936

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: $160,000
• Closing costs: $19,200
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $640,000 Active 110 DOM
2. 2026-06-17
   days on market $640,000 Active 109 DOM
3. 2026-06-16
   days on market $640,000 Active 108 DOM
4. 2026-06-15
   days on market $640,000 Active 107 DOM
5. 2026-06-13
   days on market $640,000 Active 105 DOM
6. 2026-06-09
   days on market $640,000 Active 101 DOM
7. 2026-06-08
   days on market $640,000 Active 100 DOM
8. 2026-06-07
   days on market $640,000 Active 99 DOM
9. 2026-06-04
   days on market $640,000 Active 96 DOM
10. 2026-06-03
    days on market $640,000 Active 95 DOM
11. 2026-06-01
    days on market $640,000 Active 93 DOM
12. 2026-05-31
    days on market $640,000 Active 92 DOM
13. 2026-02-28
    listed $640,000 Active
14. 2023-12-01
    historical $1,295
15. 2023-11-28
    listed $1,295
16. 1994-02-21
    soldstatus $87,000

ⓘ 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: $7,257 · $605/mo
• Projected year-2 tax: $7,257 · $605/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 · 26 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: $83,232
• − Mortgage interest: −$35,850
• − Property taxes: −$7,257
• − Insurance: −$3,200
• − Repairs & maintenance: −$6,659
• − Management: −$6,659
• − Depreciation: −$18,618
• Taxable income: $4,990
• Est. tax owed @ 24.0%: −$1,198
• After-tax cash flow: $13,824/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

+635.6% since first listed

4 events — show timeline

• 2026-02-28 Listed $640,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-01 Rental Removed $1,295 RENTALBEAST
• 2023-11-28 Listed for Rent $1,295 RENTALBEAST
• 1994-02-21 Sold (Public Records) $87,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $7,257 · +6.9% YoY. Source: county tax records.