1196 Mission Cir Unit 46E · Clearwater, FL 33759

$104,000

2 bd · 2.0 ba · 886 sqft · Condo · 79 Days on market

Built 1971 $660/mo HOA · 35% 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 +18.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BEDROOM/2BATH VILLA in one of Clearwater's most desirable 55+ communities!! UPDATED KITCHEN WITH DISHWASHER, NEWER ROOF, INSIDE LAUNDRY WITH BRAND NEW WASHER & DRYER, SPACIOUS MASTER BATH with WALK-IN SHOWER, HVAC (~2016) AND SO MUCH MORE!! Covered assigned parking and storage provided in 55+ Mission Hills Community, a beautifully maintained desirable location with mature landscaping. Very active Club House (cards games, bingo, dominoes, ice cream socials, dinners, and excursions) with library, fitness equipment, pool and ping pong tables, shuffleboard, and large heated community pool for very safe and active lifestyle. Walking distance from Bayside Plaza, which includes Publix and many more desirable businesses for convenient shopping and dining. Offered with individual utility shed. Minutes to Safety Harbor and easy access to the beaches and to Tampa. Land lease fee is included in the monthly condo dues.

Key facts

• Open floor plan
• Split bedroom layout
• En suite bath

Tags

• VILLA STYLE CONDOMINIUM
• OPEN FLOOR PLAN
• SPLIT BEDROOM LAYOUT
• EN SUITE BATH
• GENEROUS CLOSET SPACE
• MATURE LANDSCAPING

Property features AI

Finance

• Other: Association name: Jim Mateka
• Financial info: Total monthly fees: $660; Total annual fees: $7,920; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $660); Association requires approval; Association includes cable TV, pool, structure maintenance, pest control, and water; Community features: pool, street lights, deed restrictions, buyer approval required; Senior community; Pets not allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Condominium; One story; East-facing
• Construction: Stucco and frame construction; Built-up roof; Shingle roof; Built on slab
• Exterior features: Outdoor lighting; Sidewalk; Storage

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room and dining room combo; Open floorplan; Split bedroom layout; Thermostat; Window treatments
• Laundry & utility: Laundry inside; Slab foundation (utility access)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $104k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $98k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 falling (-5.6%/yr); 116 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 33% 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 $719 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 79 days — a 6% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $36k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 35% 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 $97,760 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.79% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 4.6

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: -16.1%
• Equity multiple: 0.46×
• Total profit: $-15,784
• Equity at exit: $15,507

10-year hold

• IRR: -23.5%
• Equity multiple: 0.13×
• Total profit: $-25,262
• Equity at exit: $8,992

Cash invested: $29,120 (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 33759

• Rents YoY: -5.6%
• Active inventory: 116
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,867 high
• Mortgage (P&I): −$545
• Tax est. 1.5%: −$130 /mo · $1,560/yr
• Insurance: −$43
• HOA: −$660
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $96

Break-even live

Break-even rent $1,745

Max offer price $104,000

Occupancy floor 90%

Sensitivity live

Price	-10% $168	-5% $132	+0% $96	+5% $60	+10% $24
Rent	-10% $-52	-5% $22	+0% $96	+5% $170	+10% $243
Rate	-1.0pp $148	-0.5pp $122	base $96	+0.5pp $69	+1.0pp $41

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1285 Mission Hills Blvd Unit 36B Clearwater, FL	2.0	1.0	812	$1,500	$1.85	4d	1	0.06mi
1403 Arrowhead Cir W Unit 13E Clearwater, FL	2.0	2.0	886	$1,750	$1.98	24d	1	0.27mi
2403 Brigadoon Dr Clearwater, FL	2.0	2.5	1088	$3,100	$2.85	5d	1	0.32mi
2973 Feather Dr Clearwater, FL	2.0	1.0	812	$1,450	$1.79	24d	1	0.34mi
1602 Brigadoon Dr Clearwater, FL	2.0	1.5	896	$1,800	$2.01	5d	1	0.34mi
3021 State Road 590 Clearwater, FL	1.0–3.0	1.0–2.0	977	$1,788	$1.83	2d	28	0.34mi
1301 Fairwood Ave Clearwater, FL	3.0	2.0	1104	$2,355	$2.13	5d	1	0.34mi
530 Fairwood Ave Clearwater, FL	2.0–3.0	1.0–2.0	1042	$1,309	$1.26	3d	27	0.73mi
2690 Drew St Clearwater, FL	1.0–3.0	1.0–2.0	974	$1,500	$1.54	2d	12	0.84mi
420 N Bayshore Blvd #102 Clearwater, FL	2.0	2.0	1030	$1,680	$1.63	5d	1	0.84mi
2625 Florida 590 Unit 1414 Clearwater, FL	1.0	1.0	600	$1,300	$2.17	24d	1	0.88mi
1730 Audrey Dr Unit 2 Clearwater, FL	1.0	1.0	700	$2,100	$3.00	24d	1	0.92mi
2600 W Grand Reserve Cir Clearwater, FL	1.0–3.0	1.0–2.0	1097	$2,145	$1.96	2d	36	0.93mi
205 S McMullen Booth Rd #203 Clearwater, FL	2.0	1.0	1087	$999	$0.92	15d	1	1.02mi
209 S McMullen Booth Rd #188 Clearwater, FL	1.0	1.0	747	$2,200	$2.95	17d	1	1.03mi
239 S McMullen Booth Rd #38 Clearwater, FL	1.0	1.0	747	$2,000	$2.68	24d	1	1.04mi
2973 Gulf to Bay Blvd Unit 2 Clearwater, FL	2.0	2.0	1064	$3,219	$3.03	24d	1	1.06mi
361 S McMullen Booth Rd #112 Clearwater, FL	1.0	1.0	747	$2,000	$2.68	24d	1	1.07mi
343 S McMullen Booth Rd #151 Clearwater, FL	1.0	1.0	900	$1,800	$2.00	24d	1	1.07mi
341 S McMullen Booth Rd #145 Clearwater, FL	1.0	1.0	863	$1,195	$1.38	2d	1	1.08mi
237 S McMullen Booth Rd #50 Clearwater, FL	1.0	1.0	747	$1,500	$2.01	24d	1	1.08mi
353 S McMullen Booth Rd #133 Clearwater, FL	1.0	1.0	747	$1,450	$1.94	24d	1	1.09mi
359 S McMullen Booth Rd #122 Clearwater, FL	1.0	1.0	747	$1,290	$1.73	8d	1	1.09mi
351 S McMullen Booth Rd #129 Clearwater, FL	1.0	1.0	863	$1,300	$1.51	15d	1	1.09mi
2975 Gulf To Bay Blvd Clearwater, FL	2.0	1.0–2.0	874	$5,180	$5.92	5d	49	1.10mi
383 S McMullen Booth Rd #68 Clearwater, FL	2.0	1.0	1087	$1,950	$1.79	5d	1	1.12mi
1160 7th St S Safety Harbor, FL	2.0	1.0	650	$1,645	$2.53	8d	1	1.12mi
389 S McMullen Booth Rd #12 Clearwater, FL	2.0	1.0	968	$1,395	$1.44	24d	1	1.13mi
1158 7th St S Unit 1160 Safety Harbor, FL	2.0	1.0	650	$1,645	$2.53	8d	1	1.13mi
1003 S Bayshore Blvd #103 Safety Harbor, FL	2.0	2.0	900	$2,300	$2.56	24d	1	1.17mi
2981 Gulf To Bay Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1198	$4,145	$3.46	4d	27	1.17mi
2909 Gulf To Bay Blvd Clearwater, FL	1.0–2.0	1.0–2.0	931	$1,849	$1.98	4d	9	1.18mi
2550 Stag Run Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1189	$1,870	$1.57	2d	19	1.22mi
2481 NE Coachman Rd Clearwater, FL	1.0–2.0	1.0–2.0	762	$2,023	$2.65	2d	14	1.24mi
730 N Old Coachman Rd Clearwater, FL	2.0	2.0	950	$1,705	$1.79	3d	3	1.24mi
101 S Old Coachman Rd Clearwater, FL	3.0	1.0–2.0	983	$2,296	$2.34	4d	16	1.33mi
500 9th Ave S Apt B3 Safety Harbor, FL	2.0	2.0	893	$1,795	$2.01	24d	1	1.36mi
2031 Glass Loop Clearwater, FL	1.0–3.0	1.0–2.0	1058	$2,402	$2.27	2d	34	1.46mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Likely covers: waterlandscapingpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-23
   status Pending
2. 2026-05-22
   price $104,000
3. 2026-04-28
   status Active
4. 2026-03-24
   status Pending
5. 2026-03-20
   price $99,999
6. 2026-03-09
   price $120,000
7. 2026-03-01
   price $125,000
8. 2026-02-19
   price $130,000
9. 2026-02-03
   price $135,000
10. 2026-01-28
    listed $140,000 Active
11. 2019-04-16
    soldstatus $82,000 Sold 926-char remark

    Show marketing remark (926 chars)

    2BEDROOM/2BATH VILLA in one of Clearwater's most desirable 55+ communities!! UPDATED KITCHEN WITH DISHWASHER, NEWER ROOF, INSIDE LAUNDRY WITH BRAND NEW WASHER & DRYER, SPACIOUS MASTER BATH with WALK-IN SHOWER, HVAC (~2016) AND SO MUCH MORE!! Covered assigned parking and storage provided in 55+ Mission Hills Community, a beautifully maintained desirable location with mature landscaping. Very active Club House (cards games, bingo, dominoes, ice cream socials, dinners, and excursions) with library, fitness equipment, pool and ping pong tables, shuffleboard, and large heated community pool for very safe and active lifestyle. Walking distance from Bayside Plaza, which includes Publix and many more desirable businesses for convenient shopping and dining. Offered with individual utility shed. Minutes to Safety Harbor and easy access to the beaches and to Tampa. Land lease fee is included in the monthly condo dues.

12. 2019-03-18
    status Pending 926-char remark

    Show marketing remark (926 chars)

    2BEDROOM/2BATH VILLA in one of Clearwater's most desirable 55+ communities!! UPDATED KITCHEN WITH DISHWASHER, NEWER ROOF, INSIDE LAUNDRY WITH BRAND NEW WASHER & DRYER, SPACIOUS MASTER BATH with WALK-IN SHOWER, HVAC (~2016) AND SO MUCH MORE!! Covered assigned parking and storage provided in 55+ Mission Hills Community, a beautifully maintained desirable location with mature landscaping. Very active Club House (cards games, bingo, dominoes, ice cream socials, dinners, and excursions) with library, fitness equipment, pool and ping pong tables, shuffleboard, and large heated community pool for very safe and active lifestyle. Walking distance from Bayside Plaza, which includes Publix and many more desirable businesses for convenient shopping and dining. Offered with individual utility shed. Minutes to Safety Harbor and easy access to the beaches and to Tampa. Land lease fee is included in the monthly condo dues.

13. 2018-12-21
    listed $84,900 Active 926-char remark

    Show marketing remark (926 chars)

    2BEDROOM/2BATH VILLA in one of Clearwater's most desirable 55+ communities!! UPDATED KITCHEN WITH DISHWASHER, NEWER ROOF, INSIDE LAUNDRY WITH BRAND NEW WASHER & DRYER, SPACIOUS MASTER BATH with WALK-IN SHOWER, HVAC (~2016) AND SO MUCH MORE!! Covered assigned parking and storage provided in 55+ Mission Hills Community, a beautifully maintained desirable location with mature landscaping. Very active Club House (cards games, bingo, dominoes, ice cream socials, dinners, and excursions) with library, fitness equipment, pool and ping pong tables, shuffleboard, and large heated community pool for very safe and active lifestyle. Walking distance from Bayside Plaza, which includes Publix and many more desirable businesses for convenient shopping and dining. Offered with individual utility shed. Minutes to Safety Harbor and easy access to the beaches and to Tampa. Land lease fee is included in the monthly condo dues.

ⓘ 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 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: $22,398
• − Mortgage interest: −$5,826
• − Property taxes: −$1,560
• − Insurance: −$520
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − HOA: −$7,920
• − Depreciation: −$3,025
• Taxable loss: −$36
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $1,159/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): 17,557
• Household income: $67,492
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1209.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 4% Slovak 3% Italian 2%
• Foreign-born: 16% · Canada, Jamaica, Vietnam
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 4% 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: ▼ -249.16%
• Current HPI: 343.0721
• Rent YoY: ▼ -5.57%
• 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

+22.5% since first listed

13 events — show timeline

• 2026-05-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-22 Price Changed $104,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $99,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-01 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $130,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $135,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2019-04-16 Sold (MLS) $82,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-12-21 Listed $84,900 Stellar MLS as Distributed by MLS Grid