1309 Drew St #6 · Clearwater, FL 33755

$71,000

1 bd · 1.0 ba · 647 sqft · Condo public records · 30 Days on market

Built 1965 $365/mo HOA · 26% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Furnished one bedroom facing Clearwater Golf Course. Walk to all conviences. Small complex - close to downtown. Comfy spacious floor plan. Enclosed Florida Room. This is in move-in condition. New 2006 air condition. Really worth seeing, just very nice and a GREAT location .

Key facts

• $365 HOA
• Built 1965
• Listed 29 days

Property features AI

Finance

• Other: Furnished; Property type: Residential condominium
• Financial info: Lease restrictions apply
• HOA & community: HOA membership required; approvals required; HOA fees billed monthly (amount listed as $0.00); HOA covers common area taxes, escrow reserves, fidelity bond, insurance, structure and grounds maintenance, management, sewer, trash and water; Deed-restricted community; Senior community; No pets allowed

Exterior

• Parking: Directions note: Drew St to the address
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; Single-story unit within a two-level building; Unit faces north; Completed condition
• Construction: Block and brick construction; Built-up roof; Slab foundation; Building/complex name: GOLF; Built on a 0.25-acre lot
• Exterior features: Exterior lighting

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Building does not have an elevator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $71k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $70k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (-2.2%/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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $491 of loan paydown is wiped out by about $2k 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 30 days — a 2% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,935 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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: 2.01% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.83%
• DSCR: 1.75
• GRM: 4.2

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: 3.2%
• Equity multiple: 1.12×
• Total profit: $2,313
• Equity at exit: $10,586

10-year hold

• IRR: 8.0%
• Equity multiple: 1.49×
• Total profit: $9,712
• Equity at exit: $6,139

Cash invested: $19,880 (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 33755

• Rents YoY: -2.2%
• Active inventory: 261
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,425 high
• Mortgage (P&I): −$372
• Tax from tax record: −$80 /mo · $961/yr
• Insurance: −$30
• HOA: −$365
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $279

Break-even live

Break-even rent $1,072

Max offer price $71,000

Occupancy floor 75%

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: $17,750
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 N Evergreen Ave Unit 203 Clearwater, FL	1.0	1.0	500	$1,150	$2.30	24d	1	0.15mi
1221 Drew St Unit A21 Clearwater, FL	2.0	1.0	705	$1,300	$1.84	2d	1	0.19mi
1221 Drew St Clearwater, FL	1.0	1.0	777	$1,600	$2.06	21d	1	0.19mi
1260 Cleveland St Clearwater, FL	1.0	1.0	617	$1,432	$2.32	2d	2	0.20mi
1233 Grove St Clearwater, FL	1.0	1.0	540	$1,350	$2.50	24d	1	0.20mi
1278 Jade Pl Unit n/a Clearwater, FL	1.0	1.0	500	$1,350	$2.70	24d	1	0.25mi
124 N Jefferson Ave Unit 2 Clearwater, FL	1.0	1.0	750	$1,395	$1.86	24d	1	0.26mi
124 N Jefferson Ave Unit 5 Clearwater, FL	1.0	1.0	750	$1,345	$1.79	24d	1	0.26mi
1265 Jade Pl Clearwater, FL	1.0	1.0	450	$1,500	$3.33	21d	1	0.28mi
27 N San Remo Ave Unit A Clearwater, FL	2.0	1.0	625	$1,297	$2.08	2d	1	0.37mi
1458 Grove St Clearwater, FL	1.0	1.0	625	$1,295	$2.07	21d	1	0.38mi
1463 Drew St Unit B Clearwater, FL	1.0	1.0	500	$1,095	$2.19	24d	1	0.38mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	4d	1	0.40mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	3d	1	0.40mi
1477 Pierce St Clearwater, FL	2.0	1.0	650	$1,575	$2.42	24d	1	0.50mi
1100 Cleveland St Clearwater, FL	1.0–2.0	1.0–2.5	1168	$1,785	$1.53	2d	15	0.51mi
1103 Drew St Clearwater, FL	1.0	1.0	580	$1,250	$2.16	7d	1	0.53mi
135 N Martin Luther King Jr Ave Clearwater, FL	1.0	1.0	650	$1,195	$1.84	17d	1	0.53mi
1389 Hibiscus St Unit Guest House Clearwater, FL	—	1.0	400	$1,295	$3.24	13d	1	0.60mi
600 S Betty Ln Apt 7 Clearwater, FL	1.0	1.0	680	$1,225	$1.80	24d	1	0.62mi
711 S Lincoln Ave Clearwater, FL	1.0–2.0	1.0	860	$1,274	$1.48	2d	8	0.65mi
949 Cleveland St Unit C309 Clearwater, FL	1.0	1.0	748	$2,345	$3.14	13d	1	0.66mi
949 Cleveland St Clearwater, FL	1.0–2.0	1.0–2.0	820	$1,595	$1.95	2d	50	0.66mi
404 Pennsylvania Ave Clearwater, FL	1.0	1.0	748	$1,275	$1.70	14d	1	0.67mi
612 Sally Ln S Unit 14 Clearwater, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.69mi
906 Jones St Apt A Clearwater, FL	1.0	1.0	700	$1,200	$1.71	7d	1	0.70mi
905 Jones St Clearwater, FL	2.0	1.0	660	$1,700	$2.58	10d	1	0.70mi
912 Pine St Clearwater, FL	2.0	1.0	480	$1,199	$2.50	4d	1	0.90mi
801 Chestnut St Clearwater, FL	1.0	1.0	433	$1,460	$3.37	2d	17	0.91mi
807 Turner St Unit 5 Clearwater, FL	—	1.0	560	$1,200	$2.14	17d	1	0.95mi
1109 Grant St Clearwater, FL	2.0	1.0	550	$1,295	$2.35	4d	1	0.97mi
1109 1/2 Grant St Clearwater, FL	2.0	1.0	550	$1,295	$2.35	19d	1	0.97mi
912 Engman St Clearwater, FL	2.0	1.0	625	$1,600	$2.56	24d	1	0.98mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,500	$1.80	24d	5	1.05mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,450	$1.74	2d	6	1.05mi
1224 S Missouri Ave #903 Clearwater, FL	1.0	1.0	730	$2,250	$3.08	24d	1	1.05mi
313 N Jupiter Ave Clearwater, FL	2.0	1.0	700	$1,495	$2.14	7d	1	1.07mi
1520 Jeffords St Clearwater, FL	1.0–2.0	1.0	645	$1,195	$1.85	24d	1	1.14mi
1731 Overbrook Ave Clearwater, FL	2.0	1.0	702	$1,245	$1.77	24d	1	1.15mi
407 S Jupiter Ave Unit 7 Clearwater, FL	—	1.0	550	$1,095	$1.99	4d	1	1.16mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $71,000 Active 30 DOM
2. 2026-06-17
   days on market $71,000 Active 29 DOM
3. 2026-06-16
   days on market $71,000 Active 28 DOM
4. 2026-06-15
   days on market $71,000 Active 27 DOM
5. 2026-06-13
   days on market $71,000 Active 25 DOM
6. 2026-06-09
   days on market $71,000 Active 21 DOM
7. 2026-06-08
   days on market $71,000 Active 20 DOM
8. 2026-06-07
   days on market $71,000 Active 19 DOM
9. 2026-06-04
   days on market $71,000 Active 16 DOM
10. 2026-06-03
    days on market $71,000 Active 15 DOM
11. 2026-06-01
    days on market $71,000 Active 13 DOM
12. 2026-05-31
    days on market $71,000 Active 12 DOM
13. 2026-05-21
    price $71,000
14. 2026-05-14
    listed $79,500 Active
15. 2008-02-26
    soldstatus $48,000 274-char remark

    Show marketing remark (274 chars)

    Furnished one bedroom facing Clearwater Golf Course. Walk to all conviences. Small complex - close to downtown. Comfy spacious floor plan. Enclosed Florida Room. This is in move-in condition. New 2006 air condition. Really worth seeing, just very nice and a GREAT location .

16. 2007-07-22
    listed $55,000 274-char remark

    Show marketing remark (274 chars)

    Furnished one bedroom facing Clearwater Golf Course. Walk to all conviences. Small complex - close to downtown. Comfy spacious floor plan. Enclosed Florida Room. This is in move-in condition. New 2006 air condition. Really worth seeing, just very nice and a GREAT location .

ⓘ 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: $961 · $80/mo
• Projected year-2 tax: $961 · $80/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 · 24 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: $17,100
• − Mortgage interest: −$3,977
• − Property taxes: −$961
• − Insurance: −$355
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − HOA: −$4,380
• − Depreciation: −$2,065
• Taxable income: $2,625
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $2,715/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): 27,476
• Household income: $62,886
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1511.0

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 0.63)
• Race & ethnicity: White 54% Black 22% Hispanic / Latino 17% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 2% Italian 2% Arab 1%
• Foreign-born: 15% · Canada
• Languages at home: 78% English-only · Spanish 13% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -472.62%
• Current HPI: 351.4973
• Rent YoY: ▼ -2.20%
• 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

+29.1% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $71,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-14 Listed $79,500 Stellar MLS as Distributed by MLS Grid
• 2008-02-26 Sold (MLS) $48,000 Stellar MLS as Distributed by MLS Grid
• 2007-07-22 Listed $55,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $961 · +7.7% YoY. Source: county tax records.