1421 Normandy Park Dr #4 · Clearwater, FL 33756

$109,900

1 bd · 1.0 ba · 716 sqft · Condo public records · 10 Days on market

Built 1969 $513/mo HOA · 35% of rent

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Why this score? — see what drove the D 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 +9.9/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clearwater retirement living does not get any better, than this cozy, care-free living, 55+ Normandy Park Villa, 1 bedroom, 1 bath unit! This friendly, well-maintained community is centrally located with easy access to shopping, eateries, medical facilities, public transportation, parks, just a few miles away is the sandy white Clearwater Beach and much more! The unit has convenient assigned parking, there is a beautiful large pool, shuffle board courts, laundry facilities, plenty of sidewalks for daily walks and a great clubhouse. This villa makes the perfect year-round home for one, or a fantastic seasonal home for a couple or you could easily a year later make this rental income property. Add some charm and personal updates and you now have a sun-sational home! Another Plus, inside this one story unit you have no stairs to navigate and you have plenty storage, a walk-in closet, easy to maintain newer wood laminate floors throughout and ample living space for you to share with friends & family in your living room or family room! Must own property for 1 year prior to renting. If you are Snowbird, why rent when you can buy at this price! CALL NOW to assure you LIVE this Florida Retirement Dream!

Key facts

• Community pool
• Built 1969
• Listed 10 days

Tags

• INSIDE LAUNDRY HOOK-UP

Property features AI

Finance

• Other: Unfurnished; Directions: From Lakeview Rd go south on Highland one block; community is on the right
• HOA & community: Monthly condo fee of $513 (total annual fees $6,156); Association fees cover cable TV, pool, internet, recreational facilities, sewer, trash and water; Community clubhouse; Community pool; Senior community; No pets allowed

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Cable connected
• Home design: Residential villa; Single-story (one level); Faces east; Homestead property
• Construction: Block construction; Other roof type; Slab foundation; Building area approximately 716 square feet
• Exterior features: Exterior lighting; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Window treatments; Building has no elevator
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-67 ($-809/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (10.8% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $98k (10.8% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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); 355 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $760 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y 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.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,991 (10.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1969 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.33% ✓
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 6.3

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: -26.1%
• Equity multiple: 0.15×
• Total profit: $-26,083
• Equity at exit: $16,386

10-year hold

• IRR: -55.1%
• Equity multiple: -0.42×
• Total profit: $-43,566
• Equity at exit: $9,502

Cash invested: $30,772 (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 33756

• Rents YoY: -2.2%
• Active inventory: 355
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$576
• Tax from tax record: −$88 /mo · $1,059/yr
• Insurance: −$46
• HOA: −$513
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-67

Break-even live

Break-even rent $1,549

Max offer price $97,991

Occupancy floor 100%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 Jeffords St Clearwater, FL	1.0–2.0	1.0	645	$1,195	$1.85	24d	1	0.47mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,450	$1.74	2d	6	0.72mi
1216 S Missouri Ave Clearwater, FL	1.0–2.0	1.0–2.0	835	$1,500	$1.80	24d	5	0.72mi
1119 Tuskawilla Dr Clearwater, FL	2.0	1.0	603	$1,250	$2.07	2d	23	0.75mi
1224 S Missouri Ave #903 Clearwater, FL	1.0	1.0	730	$2,250	$3.08	24d	1	0.76mi
612 Sally Ln S Unit 14 Clearwater, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.81mi
600 S Betty Ln Apt 7 Clearwater, FL	1.0	1.0	680	$1,225	$1.80	24d	1	0.84mi
711 S Lincoln Ave Clearwater, FL	1.0–2.0	1.0	860	$1,274	$1.48	2d	8	0.87mi
941 Lakeview Rd Clearwater, FL	1.0	1.0	550	$1,199	$2.18	18d	1	0.94mi
1538 S Martin Luther King Jr Ave Clearwater, FL	2.0	1.0	650	$1,625	$2.50	24d	1	0.97mi
1784 Magnolia Dr Unit B Clearwater, FL	—	1.0	600	$1,800	$3.00	24d	1	1.05mi
1477 Pierce St Clearwater, FL	2.0	1.0	650	$1,575	$2.42	24d	1	1.09mi
811 Lotus Path Unit 2 Clearwater, FL	2.0	1.0	700	$1,699	$2.43	24d	1	1.12mi
1120 Wyatt St Clearwater, FL	1.0	1.0	600	$1,150	$1.92	18d	1	1.14mi
1587 Scranton Ave Unit B Clearwater, FL	2.0	1.0	665	$1,450	$2.18	24d	1	1.15mi
912 Pine St Clearwater, FL	2.0	1.0	480	$1,199	$2.50	4d	1	1.18mi
1265 Jade Pl Clearwater, FL	1.0	1.0	450	$1,500	$3.33	22d	1	1.20mi
1278 Jade Pl Unit n/a Clearwater, FL	1.0	1.0	500	$1,350	$2.70	24d	1	1.20mi
407 S Jupiter Ave Unit 7 Clearwater, FL	—	1.0	550	$1,095	$1.99	4d	1	1.20mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	24d	1	1.22mi
833 Hall St Clearwater, FL	1.0	1.0	700	$1,350	$1.93	17d	1	1.22mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	3d	1	1.23mi
1458 Cleveland St Clearwater, FL	1.0	1.0	750	$1,300	$1.73	4d	1	1.23mi
1552 S Myrtle Ave Clearwater, FL	2.0	1.5	750	$1,750	$2.33	15d	1	1.24mi
1516 Carmel Ave Clearwater, FL	2.0	1.0	740	$1,650	$2.23	4d	1	1.27mi
27 N San Remo Ave Unit A Clearwater, FL	2.0	1.0	625	$1,297	$2.08	3d	1	1.29mi
1260 Cleveland St Clearwater, FL	1.0	1.0	617	$1,432	$2.32	3d	2	1.31mi
807 Turner St Unit 5 Clearwater, FL	—	1.0	560	$1,200	$2.14	18d	1	1.31mi
1458 Grove St Clearwater, FL	1.0	1.0	625	$1,295	$2.07	22d	1	1.34mi
1233 Grove St Clearwater, FL	1.0	1.0	540	$1,350	$2.50	24d	1	1.36mi
119 N Evergreen Ave Unit 203 Clearwater, FL	1.0	1.0	500	$1,150	$2.30	24d	1	1.36mi
1463 Drew St Unit B Clearwater, FL	1.0	1.0	500	$1,095	$2.19	24d	1	1.36mi
801 Chestnut St Clearwater, FL	1.0	1.0	433	$1,460	$3.37	3d	17	1.37mi
1632 Clearwater Largo Rd Clearwater, FL	3.0	1.0–2.0	961	$2,099	$2.18	2d	25	1.41mi
1221 Drew St Clearwater, FL	1.0	1.0	777	$1,600	$2.06	22d	1	1.44mi
1221 Drew St Unit A21 Clearwater, FL	2.0	1.0	705	$1,300	$1.84	3d	1	1.44mi
124 N Jefferson Ave Unit 2 Clearwater, FL	1.0	1.0	750	$1,395	$1.86	24d	1	1.46mi
124 N Jefferson Ave Unit 5 Clearwater, FL	1.0	1.0	750	$1,345	$1.79	24d	1	1.46mi
1100 Cleveland St Clearwater, FL	1.0–2.0	1.0–2.5	1168	$1,785	$1.53	3d	15	1.46mi

HOA detail condo

• Monthly dues: $513 · $6,156/yr
• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $109,900 Active 10 DOM
2. 2026-06-17
   days on market $109,900 Active 9 DOM
3. 2026-06-16
   days on market $109,900 Active 8 DOM
4. 2026-06-15
   days on market $109,900 Active 7 DOM
5. 2026-06-13
   days on market $109,900 Active 5 DOM
6. 2026-06-09
   remarks 135-char remark
7. 2026-06-09
   listed $109,900 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: $1,059 · $88/mo
• Projected year-2 tax: $1,059 · $88/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 · 22 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: $17,559
• − Mortgage interest: −$6,156
• − Property taxes: −$1,059
• − Insurance: −$550
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − HOA: −$6,156
• − Depreciation: −$3,197
• Taxable loss: −$2,368
• Est. tax savings @ 24.0%: +$568
• After-tax cash flow: $-241/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): 32,201
• Household income: $61,872
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1868.0

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 (64%)
• Race & ethnicity: White 64% Hispanic / Latino 18% Black 11% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 16% · Canada
• Languages at home: 79% English-only · Spanish 14% Other Indo-European 2% 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: ▼ -438.74%
• Current HPI: 354.6792
• Rent YoY: ▼ -2.22%
• 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

+285.6% since first listed

20 events — show timeline

• 2026-06-08 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2023-06-30 Sold (Public Records) $125,000 Public Records
• 2023-06-26 Sold (MLS) $125,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-20 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-05-02 Price Changed $127,000 Stellar MLS as Distributed by MLS Grid
• 2023-04-19 Listed $129,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-11 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-24 Price Changed $157,777 Stellar MLS as Distributed by MLS Grid
• 2022-05-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-05-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-05-16 Price Changed $159,000 Stellar MLS as Distributed by MLS Grid
• 2022-05-05 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2016-11-07 Sold (Public Records) $42,000 Public Records
• 2011-06-27 Sold (MLS) $31,000 Stellar MLS as Distributed by MLS Grid
• 2011-02-02 Listed $33,900 Stellar MLS as Distributed by MLS Grid
• 1998-03-18 Sold (Public Records) $34,000 Public Records
• 1998-03-01 Sold (Public Records) $34,000 Public Records
• 1997-04-28 Sold (Public Records) $32,000 Public Records
• 1991-03-28 Sold (Public Records) $30,000 Public Records
• 1989-12-19 Sold (Public Records) $28,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,059 · -20.3% YoY. Source: county tax records.