214 S Highland Ave · Clearwater, FL 33755

$598,800

15 bd · 12.0 ba · 2,064 sqft · MultiFamily · 309 Days on market

Built 1952 0.35 ac lot

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Multi-family units

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

Listing remarks

Exceptional Investment or Development Opportunity in Prime Clearwater Location Presenting a rare opportunity to acquire a high-potential triplex nestled on an expansive 15,033 sq ft corner lot in the highly sought-after Downtown Gateway area of Clearwater. This property offers immense promise for both investors seeking immediate returns or developers with an eye for future growth. Zoned to allow for the development of up to 7-8 additional units, this is an outstanding canvas for expansion or redevelopment. The Property: This distinctive triplex features three unique units, each with its own character and considerable income-generating potential. Unit 214B: A spacious 2-bedroom, 1.5-b

Key facts

• Triplex
• Corner lot
• 0.35 acre lot

Tags

• CORNER LOT
• ZONED FOR DEVELOPMENT
• TRIPLEX
• RV AND JET SKI PARKING
• DETACHED STORAGE SHED

Property features AI

Finance

• Other: Property marketed as residential income (triplex)
• Financial info: Gross income reported at $64,800; Annual net income reported at $42,800; Annual expenses reported at $21,000; Tenants pay electricity
• HOA & community: No association

Exterior

• Parking: No parking details provided
• Utilities: Public water; Public sewer; Electricity connected; Water and sewer connected
• Home design: Triplex (residential income property); Single-story building; One building on the lot; Property listed as completed
• Construction: Frame construction; Shingle roof; Crawl space and stem wall foundation; Building area total approximately 2,872 sq ft; living area approximately 2,064 sq ft
• Exterior features: Fenced lot; Asphalt/paved road access; Lot dimensions approximately 83 x 110 (0.35 acre)

Interior

• Kitchen: Refrigerator included
• Bedrooms: 5 bedrooms total across units (one 3-bed unit; two 1-bed units)
• Flooring: Wood flooring
• Bathrooms: Units include two bathrooms in the 3-bedroom unit and one bathroom in each 1-bedroom unit
• Heating & cooling: Electric heating; Central air; Wall/window AC units
• Interior features: Ceiling fans; Masonry fireplace
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $400/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $599k).
• Recommended offer: $527k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: 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: Skycrest Elementary School (math 46% / reading 36%, grade F, #1,454 of 2,144 statewide, top 69%, 565 students, 80% FRL); Clearwater High School (math 30% / reading 36%, grade F, #406 of 667 statewide, top 61%, 1,664 students, 59% FRL) — zoned schools average 69% FRL vs 48% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 51% district-wide (-14 pts) — the specific schools serving this property underperform the Pinellas average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.2%/yr); 261 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $18k 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 309 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $601k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $245k; list at $599k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $526,944 (12.0% below list)

Questions for the listing agent

1. It's been on market 309 days. Have you received any prior offers? Is the seller open to a 12% 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 1952 — 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: 1.13% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• GRM: 7.4

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: -6.7%
• Equity multiple: 0.76×
• Total profit: $-40,265
• Equity at exit: $89,283

10-year hold

• IRR: -1.3%
• Equity multiple: 0.92×
• Total profit: $-12,719
• Equity at exit: $51,773

Cash invested: $167,664 (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: 22.2×

Monthly cashflow live

• Estimated rent: $6,758 medium
• Mortgage (P&I): −$3,140
• Tax est. 1.5%: −$748 /mo · $8,982/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,419
• Net cashflow: $1,201

Break-even live

Break-even rent $5,238

Max offer price $598,800

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$6,759
Total (3 units)			$6,758

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: $149,700
• Closing costs: $17,964
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-09
   days on market $598,800 Active 309 DOM
2. 2026-06-08
   days on market $598,800 Active 308 DOM
3. 2026-06-07
   days on market $598,800 Active 307 DOM
4. 2026-06-04
   days on market $598,800 Active 304 DOM
5. 2026-06-03
   days on market $598,800 Active 303 DOM
6. 2026-06-01
   days on market $598,800 Active 301 DOM
7. 2026-05-31
   days on market $598,800 Active 300 DOM
8. 2025-12-15
   price $598,800
9. 2025-11-13
   price $599,000
10. 2025-11-06
    price $609,900
11. 2025-10-06
    price $849,000
12. 2025-08-06
    status Active
13. 2025-07-09
    listed $1,200,000 Active
14. 2025-01-20
    historical
15. 2024-07-22
    price $599,000
16. 2024-05-03
    listed $650,000 Active
17. 2022-08-10
    historical
18. 2022-07-11
    listed $650,000 Active
19. 2022-05-27
    historical
20. 2022-03-31
    listed $650,000 Active
21. 2021-09-19
    historical
22. 2021-08-13
    price $930,000
23. 2021-07-15
    listed $800,000 Active
24. 2018-02-09
    historical
25. 2018-02-08
    soldstatus $245,000 Sold
26. 2018-01-27
    price $245,000
27. 2018-01-27
    status Pending
28. 2017-11-07
    listed $260,000 Active

ⓘ 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 · 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: $81,096
• − Mortgage interest: −$33,542
• − Property taxes: −$8,982
• − Insurance: −$2,994
• − Repairs & maintenance: −$6,488
• − Management: −$6,488
• − Depreciation: −$17,420
• Taxable income: $5,183
• Est. tax owed @ 24.0%: −$1,244
• After-tax cash flow: $13,164/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

+130.3% since first listed

21 events — show timeline

• 2025-12-15 Price Changed $598,800 Stellar MLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $599,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $609,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $849,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-07-09 Listed $1,200,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-07-22 Price Changed $599,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-03 Listed $650,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-07-11 Listed $650,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-03-31 Listed $650,000 Stellar MLS as Distributed by MLS Grid
• 2021-09-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-08-13 Price Changed $930,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-15 Listed $800,000 Stellar MLS as Distributed by MLS Grid
• 2018-02-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-02-08 Sold (MLS) $245,000 Stellar MLS as Distributed by MLS Grid
• 2018-01-27 Price Changed $245,000 Stellar MLS as Distributed by MLS Grid
• 2018-01-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-11-07 Listed $260,000 Stellar MLS as Distributed by MLS Grid