2331 Belleair Rd Lot 237 · Largo, FL 33764

$113,300

2 bd · 1.5 ba · 1,065 sqft · Manufactured public records · 461 Days on market

Built 1973 Est $91k · 25% over $285/mo HOA · 14% of rent ↓ 19% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm of Country Park, a 128-unit, vibrant 55 Plus Manufactured Home Community located in Clearwater, Florida. This is a Resident Owned Co-Op with many fine features. Country Park was named “Community Association of the Year – 2024. This charming & Well-cared for 2-bedroom, 2-bathroom home offers comfortable and spacious living. The home is situated in the back half of the park near the pool and clubhouse. The interior of this home is spacious. It has a large living area with a separate dining room. The kitchen has plenty of cabinetry as well as a desk area. The bedrooms are large with plenty of closet space, there is a large office/sitting room attached to th

Key facts

• Parking
• Community pool
• Built 1973

Property features AI

Finance

• Other: Property type: Residential mobile home in a cooperative zoning (0261-CO-OP); Furnished; Homestead exemption claimed
• Financial info: Total monthly fees $285; total annual fees $3,420; Lease restrictions apply
• HOA & community: Has HOA with monthly fee of $285 (includes pool, management, recreational facilities, trash); Clubhouse, laundry, pool, shuffleboard court; Association approval required; Buyer approval required; Deed restrictions; Street lights; Senior community; No pets allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; High-speed internet available; Cable available; Electricity connected; Phone available; Sewer connected; Water connected
• Home design: Residential mobile home (double wide, attached); Single-story; Faces west
• Construction: Metal siding and frame construction; Roof over
• Exterior features: Awnings; Private mailbox; Rain gutters; Outdoor storage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Thermostat; Total of 5 rooms
• Laundry & utility: Laundry room (other)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $113k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 4.2% in Largo — 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 (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities F.
• 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 (-5.2%/yr); 262 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 37% 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 $783 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 461 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $26k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,704 (12.0% below list)

Questions for the listing agent

1. It's been on market 461 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.81% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.53%
• DSCR: 2.00
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $90,525
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2331 Belleair Rd #501	0.00mi	2/2.0	1,118 (+5%)	5mo	$95,000	$85	86

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.59×
• Total profit: $-13,157
• Equity at exit: $16,893

10-year hold

• IRR: -13.6%
• Equity multiple: 0.40×
• Total profit: $-19,015
• Equity at exit: $9,796

Cash invested: $31,724 (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 33764

• Rents YoY: -5.2%
• Active inventory: 262
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$594
• Tax from tax record: −$97 /mo · $1,169/yr
• Insurance: −$47
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$285
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $169

Break-even live

Break-even rent $1,836

Max offer price $113,300

Occupancy floor 87%

Sensitivity live

Price	-10% $233	-5% $201	+0% $169	+5% $137	+10% $105
Rent	-10% $7	-5% $88	+0% $169	+5% $250	+10% $331
Rate	-1.0pp $226	-0.5pp $198	base $169	+0.5pp $140	+1.0pp $110

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: $28,325
• Closing costs: $3,399
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2207 Belleair Rd Unit B7 Clearwater, FL	2.0	1.0	857	$1,800	$2.10	21d	1	0.27mi
2207 Belleair Rd Unit B4 Clearwater, FL	2.0	1.0	857	$1,625	$1.90	16d	1	0.27mi
2225 Nursery Rd Clearwater, FL	2.0	1.0–2.0	802	$1,850	$2.31	25d	1	0.36mi
1550 S Belcher Rd Clearwater, FL	1.0	1.0	825	$1,350	$1.64	5d	1	0.48mi
2159 Nursery Rd Clearwater, FL	1.0–3.0	1.0–2.0	870	$1,481	$1.70	3d	10	0.53mi
2102 Nursery Rd Unit 2 Clearwater, FL	2.0	2.0	960	$1,555	$1.62	16d	1	0.60mi
1433 S Belcher Rd Unit F9 Clearwater, FL	2.0	2.0	855	$2,450	$2.87	3d	1	0.61mi
1433 S Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	748	$2,450	$3.27	21d	2	0.65mi
2100 Nursery Rd Clearwater, FL	1.0–2.0	1.0–2.0	910	$1,750	$1.92	4d	10	0.68mi
2554 Oak Trl S Clearwater, FL	1.0–2.0	1.0–2.0	862	$2,131	$2.47	3d	14	0.69mi
1564 Flournoy Cir W Unit 1515105P Clearwater, FL	2.0	2.0	990	$5,329	$5.38	16d	1	0.75mi
1515 Flournoy Loop Unit 1511623P Clearwater, FL	1.0	1.0	796	$4,866	$6.11	3d	1	0.78mi
1515 Flournoy Loop Unit 1511622P Clearwater, FL	1.0	1.0	796	$3,057	$3.84	16d	1	0.78mi
1551 Flournoy Cir W Clearwater, FL	1.0–3.0	1.0–2.0	916	$2,086	$2.28	3d	32	0.78mi
2705 Via Murano #136 Clearwater, FL	2.0	1.0	980	$2,100	$2.14	19d	1	0.81mi
2705 Via Murano #111 Clearwater, FL	2.0	2.0	1140	$2,300	$2.02	19d	1	0.81mi
2705 Via Murano #125 Clearwater, FL	1.0	1.0	890	$1,795	$2.02	25d	1	0.81mi
2713 Via Murano #221 Clearwater, FL	3.0	2.0	1480	$2,700	$1.82	5d	1	0.82mi
2713 Via Murano #223 Clearwater, FL	2.0	2.0	1230	$1,895	$1.54	5d	1	0.82mi
2713 Via Murano #232 Clearwater, FL	2.0	2.0	1230	$2,400	$1.95	5d	1	0.82mi
2713 Via Murano Clearwater, FL	3.0	2.0	1480	$2,500	$1.69	25d	1	0.82mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	5d	1	0.84mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	25d	1	0.84mi
2525 Harn Blvd #3 Clearwater, FL	2.0	2.5	1252	$1,899	$1.52	25d	1	0.84mi
2723 Via Capri #834 Clearwater, FL	1.0	1.0	770	$1,875	$2.44	5d	1	0.85mi
1000 Cove Cay Dr Unit 2F Clearwater, FL	2.0	2.0	960	$2,295	$2.39	25d	1	0.85mi
2236 Morningside Dr Clearwater, FL	2.0	1.5	902	$2,200	$2.44	5d	1	0.86mi
2709 Via Cipriani Unit 531A Clearwater, FL	2.0	2.0	1309	$2,150	$1.64	25d	1	0.87mi
2709 Via Cipriani Clearwater, FL	2.0	2.0	1368	$2,050	$1.50	25d	1	0.87mi
1330 Moreland Dr Clearwater, FL	2.0	2.0	1192	$2,125	$1.78	25d	3	0.87mi
2721 Via Murano #311 Clearwater, FL	2.0	2.0	1140	$2,500	$2.19	5d	1	0.88mi
2721 Via Murano #324 Clearwater, FL	1.0	1.0	770	$1,750	$2.27	5d	1	0.88mi
2505 Harn Blvd #1 Clearwater, FL	3.0	2.5	1429	$2,400	$1.68	5d	1	0.90mi
2724 Via Murano #616 Clearwater, FL	2.0	2.0	1230	$2,300	$1.87	5d	1	0.90mi
2715 Via Capri #732 Clearwater, FL	2.0	2.0	1140	$2,300	$2.02	5d	1	0.90mi
2724 Via Murano #634 Clearwater, FL	1.0	1.0	890	$1,695	$1.90	25d	1	0.90mi
2732 Via Murano #527 Clearwater, FL	2.0	2.0	1110	$2,800	$2.52	25d	1	0.95mi
2730 Via Tivoli Unit 320B Clearwater, FL	2.0	2.0	1368	$2,350	$1.72	5d	1	0.97mi
2730 Via Tivoli Unit 332B Clearwater, FL	2.0	2.0	1198	$2,350	$1.96	25d	1	0.97mi
3300 Cove Cay Dr Unit 2A Clearwater, FL	3.0	2.0	1345	$3,000	$2.23	4d	1	0.98mi

HOA detail

• Monthly dues: $285 · $3,420/yr
• Likely covers: waterpool

Listing history 20 events

1. 2026-06-18
   days on market $113,300 Active 461 DOM
2. 2026-06-17
   days on market $113,300 Active 460 DOM
3. 2026-06-16
   days on market $113,300 Active 459 DOM
4. 2026-06-15
   days on market $113,300 Active 458 DOM
5. 2026-06-13
   days on market $113,300 Active 456 DOM
6. 2026-06-09
   days on market $113,300 Active 452 DOM
7. 2026-06-08
   days on market $113,300 Active 451 DOM
8. 2026-06-07
   days on market $113,300 Active 450 DOM
9. 2026-06-04
   days on market $113,300 Active 447 DOM
10. 2026-06-03
    days on market $113,300 Active 446 DOM
11. 2026-06-01
    days on market $113,300 Active 444 DOM
12. 2026-05-31
    days on market $113,300 Active 443 DOM
13. 2026-01-20
    price $113,300
14. 2025-09-27
    status Active
15. 2025-09-26
    historical
16. 2025-08-31
    price $116,500
17. 2025-04-12
    price $121,350
18. 2025-03-23
    status Active
19. 2025-03-23
    price $124,350
20. 2024-09-20
    listed $139,700 Active

ⓘ 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: $1,169 · $97/mo
• Projected year-2 tax: $1,169 · $97/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $24,598
• − Mortgage interest: −$6,347
• − Property taxes: −$1,169
• − Insurance: −$5,685
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$3,420
• − Depreciation: −$3,296
• Taxable income: $746
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $1,850/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,311
• Household income: $67,256
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1118.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% German 2%
• Foreign-born: 14% · Canada, Jamaica, Vietnam
• Languages at home: 80% English-only · Spanish 10% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -350.08%
• Current HPI: 315.4133
• Rent YoY: ▼ -5.24%
• 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

-18.9% since first listed

8 events — show timeline

• 2026-01-20 Price Changed $113,300 Stellar MLS as Distributed by MLS Grid
• 2025-09-27 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-31 Price Changed $116,500 Stellar MLS as Distributed by MLS Grid
• 2025-04-12 Price Changed $121,350 Stellar MLS as Distributed by MLS Grid
• 2025-03-23 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-03-23 Price Changed $124,350 Stellar MLS as Distributed by MLS Grid
• 2024-09-20 Listed $139,700 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,169 · +481.8% YoY. Source: county tax records.