1634 S Jefferson Ave · Clearwater, FL 33756

$275,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily · 32 Days on market

Built 1955 Poor condition 9,374 sqft lot Est $323k · 15% under

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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 +26.7/30.0
• ARV discount +14.2/15.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +1.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

DUAL-INCOME POTENTIAL — $3,600/MO TARGET GROSS RENT. Stop looking for "turnkey" and start looking at the math. This Clearwater duplex is a prime value-add project for anyone ready to force some equity. The property needs a full renovation, but the payoff is worth it: post-reno market rents are hitting $1,800/unit. That’s over $43k in gross annual income once you've finished the upgrades. Whether you’re looking to BRRRR or build a high-yield rental portfolio, 1634/1636 S Jefferson is the one. Sold strictly as-is—bring your contractor and your best offer.

Key facts

• 9,374 sq ft lot
• Built 1955
• Listed 32 days

Property features AI

Finance

• Other: Lot is approximately 0.22 acres (110 x 130), paved road access
• Financial info: Annual net income reported: $24,000; Pro forma rent for each 2-bedroom unit: $1,800
• HOA & community: No HOA

Exterior

• Parking: No parking information listed
• Security: No security features listed
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Residential income property (duplex); Single building on the lot; Zoned R-4
• Construction: Block construction; Shingle roof; Slab foundation
• Exterior features: Awnings

Interior

• Kitchen: No kitchen appliance details listed
• Bedrooms: Four bedrooms total; Two-bedroom unit types (two units)
• Flooring: No flooring information listed
• Bathrooms: One bathroom per 2-bedroom unit
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior features listed
• Laundry & utility: Inside laundry with washer and electric dryer hookups; Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $275k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive. Per door: $374/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.0% 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); 363 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,352/mo this rent would consume 65% of the median local household income ($62k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 32 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.22% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.65%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $322,920
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 14th Ave NW	0.71mi	4/2.0	1,440 (-8%)	6mo	$289,500	$201	49
1129 Woodlawn St	0.41mi	3/3.0 (-1)	1,526 (-2%)	24mo	$300,000	$197	48
610 14th Ave NW	0.72mi	4/2.0	1,400 (-10%)	6mo	$289,500	$207	45
733 New York St	0.58mi	5/3.0 (+1)	1,479 (-5%)	15mo	$400,000	$270	42

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-6,719
• Equity at exit: $41,003

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $17,705
• Equity at exit: $23,777

Cash invested: $77,000 (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: 363
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,352 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $748

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 73%

Sensitivity live

Price	-10% $938	-5% $843	+0% $748	+5% $653	+10% $558
Rent	-10% $483	-5% $615	+0% $748	+5% $880	+10% $1,012
Rate	-1.0pp $886	-0.5pp $818	base $748	+0.5pp $676	+1.0pp $604

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,352
Total (2 units)			$3,352

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 Belleair Rd Unit Home Clearwater, FL	3.0	1.0	1326	$1,695	$1.28	25d	1	0.23mi
1310 Bayview Dr Clearwater, FL	3.0	2.0	1500	$3,300	$2.20	25d	1	0.27mi
1574 Ewing Ave Clearwater, FL	3.0	2.0	1324	$2,700	$2.04	5d	1	0.37mi
1342 Belleair Rd Clearwater, FL	4.0	2.0	1695	$2,845	$1.68	21d	1	0.38mi
1523 S Fredrica Ave Clearwater, FL	3.0	2.0	1284	$2,550	$1.99	25d	1	0.46mi
1321 Chesterfield Dr Unit 1018173P Clearwater, FL	3.0	2.0	1356	$3,967	$2.93	3d	1	0.47mi
1354 Chesterfield Dr Unit 1039504P Clearwater, FL	4.0	2.0	1840	$6,710	$3.65	3d	1	0.50mi
1588 Eunice Ln Clearwater, FL	4.0	2.0	1780	$2,731	$1.53	8d	1	0.53mi
1571 S Myrtle Ave Clearwater, FL	3.0	2.0	1202	$2,400	$2.00	25d	1	0.55mi
1812 Lady Mary Dr Clearwater, FL	3.0	2.0	1531	$2,800	$1.83	4d	1	0.58mi
1773 Eaton Dr Unit 1032113P Clearwater, FL	3.0	2.0	1991	$6,090	$3.06	15d	1	0.61mi
1429 S Evergreen Ave Clearwater, FL	4.0	2.0	1782	$2,781	$1.56	5d	1	0.62mi
1632 Clearwater Largo Rd Clearwater, FL	3.0	1.0–2.0	961	$2,899	$3.02	3d	25	0.71mi
1526 Caldera Ct Clearwater, FL	3.0	2.5	1816	$2,900	$1.60	16d	1	0.81mi
601 Rosery Rd NE Largo, FL	1.0–3.0	1.0–2.5	1192	$2,260	$1.90	2d	38	0.87mi
1006 14th Ave NW Largo, FL	3.0	2.0	1444	$2,450	$1.70	25d	1	0.87mi
811 Rosery Rd NW Largo, FL	1.0–3.0	1.0–3.0	1050	$3,360	$3.20	4d	20	0.89mi
1353 Lakeview Rd Clearwater, FL	3.0	1.0	1360	$1,995	$1.47	25d	1	0.95mi
1119 Breeze Dr Largo, FL	3.0	2.0	1314	$2,475	$1.88	25d	1	1.09mi
516 5th Ave NE Largo, FL	3.0	2.0	1057	$2,250	$2.13	25d	1	1.12mi
516 5th Ave NE Largo, FL	3.0	2.0	1073	$2,250	$2.10	16d	1	1.12mi
1596 Idle Dr NE Unit 1379462P Clearwater, FL	4.0	2.0	1776	$5,225	$2.94	4d	1	1.14mi
709 Highland Ave N Largo, FL	3.0	3.0	1884	$2,995	$1.59	5d	1	1.21mi
1500 Laurel Cir Clearwater, FL	3.0	2.0	1530	$2,650	$1.73	5d	1	1.21mi
1679 Leisure Dr Clearwater, FL	3.0	2.0	1497	$3,200	$2.14	3d	1	1.23mi
1009 Chester Dr Clearwater, FL	3.0	2.0	1105	$2,500	$2.26	12d	1	1.29mi
705 3rd Ave NE Unit C Largo, FL	3.0	2.0	1113	$2,195	$1.97	4d	1	1.30mi
813 4th Ave NW Largo, FL	3.0	1.0	1295	$2,000	$1.54	19d	1	1.31mi
1412 Druid Rd E Clearwater, FL	3.0	1.0	1239	$1,995	$1.61	25d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $275,000 Active 32 DOM
2. 2026-06-17
   days on market $275,000 Active 31 DOM
3. 2026-06-16
   days on market $275,000 Active 30 DOM
4. 2026-06-15
   days on market $275,000 Active 29 DOM
5. 2026-06-13
   days on market $275,000 Active 27 DOM
6. 2026-06-09
   days on market $275,000 Active 23 DOM
7. 2026-06-08
   days on market $275,000 Active 22 DOM
8. 2026-06-07
   days on market $275,000 Active 21 DOM
9. 2026-06-04
   days on market $275,000 Active 18 DOM
10. 2026-06-03
    days on market $275,000 Active 17 DOM
11. 2026-06-01
    days on market $275,000 Active 15 DOM
12. 2026-05-31
    days on market $275,000 Active 14 DOM
13. 2026-05-17
    listed $275,000 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 ≥108°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,224
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,218
• − Management: −$3,218
• − Depreciation: −$8,000
• Taxable income: $4,884
• Est. tax owed @ 24.0%: −$1,172
• After-tax cash flow: $7,799/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.

Condition & rehab AI · 24 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation and maintenance to bring it up to market standards. Significant repairs and updates are needed to improve its condition and increase its value.

Repairs flagged

• Major kitchen cabinets — Cabinets are cluttered and need cleaning
• Major bathroom cabinets — Bathroom cabinets are cluttered and need cleaning
• Major tile flooring — Tile flooring in kitchen and bathrooms appears damaged
• Major interior walls — Paint on interior walls appears chipped and damaged
• Major roof — Roof appears to have some damage
• Major siding — Siding appears to have some damage
• Major windows — Windows appear to have some damage
• Major foundation — Foundation appears to have some damage
• Major HVAC units — HVAC units appear to have some damage

Value-add opportunities

• Both extensive renovation — Extensive renovation is needed to bring the property up to market standards
• Both landscaping — Landscaping needs to be done to improve curb appeal
• Both HVAC replacement — Replacing HVAC units will improve comfort and energy efficiency
• Both painting — Painting interior walls will improve the appearance and value of the property

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Cabinets are cluttered and need cleaning	Major	$15,000–50,000
bathroom cabinets · Bathroom cabinets are cluttered and need cleaning	Major	$15,000–50,000
tile flooring · Tile flooring in kitchen and bathrooms appears damaged	Major	$15,000–50,000
interior walls · Paint on interior walls appears chipped and damaged	Major	$15,000–50,000
roof · Roof appears to have some damage	Major	$15,000–50,000
siding · Siding appears to have some damage	Major	$15,000–50,000
windows · Windows appear to have some damage	Major	$15,000–50,000
foundation · Foundation appears to have some damage	Major	$15,000–50,000
HVAC units · HVAC units appear to have some damage	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both extensive renovation — Extensive renovation is needed to bring the property up to market standards ↑
• Both landscaping — Landscaping needs to be done to improve curb appeal ↑
• Both HVAC replacement — Replacing HVAC units will improve comfort and energy efficiency ↑
• Both painting — Painting interior walls will improve the appearance and value of the property ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

1 event — show timeline

• 2026-05-17 Listed $275,000 Stellar MLS as Distributed by MLS Grid