2298 Netherlands Dr #32 · Clearwater, FL 33763

$75,000

1 bd · 1.0 ba · 780 sqft · Condo public records · 17 Days on market

Built 1980 $545/mo HOA · 35% of rent

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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 +28.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

WELCOME TO "ON TOP OF THE WORLD"! This AFFORDABLE, PRICED TO SELL, 1 bedroom, 1 bath condo is ready for it's next owner! AT THIS PRICE IT WILL NOT LAST LONG! UNMATCHED in amenities, this sought-after, pet-friendly community has it all! There is something for everyone here! This 55+ Community has assigned parking as well as guest parking. Amenities include 2 Activity Centers, 2 Private Golf Courses with 9 & 18 holes, Hobby studios, a Remodeled Cardio Gym with the latest exercise equipment, Fitness Classes, Dancing, Billiards, Wood Shop, 2 heated Community Pools, Fenced Dog Park with a covered seating area, Pickleball, Tennis, Shuffleboard, Dance Hall, Picnic Area, Library, Co

Key facts

• Guest parking
• Fenced dog park
• New water heater

Tags

• ASSIGNED PARKING
• GUEST PARKING
• FENCED DOG PARK
• COMMUNITY POOLS
• NEWER WINDOWS
• NEW WATER HEATER

Property features AI

Finance

• Other: Furnished: Unfurnished; Association amenities include storage and laundry
• Financial info: Total monthly fees: $545.23; Total annual fees: $6,542.76; Lease restrictions apply
• HOA & community: OTOW Condo Assoc Inc. (monthly HOA: $545.23); HOA approval required; Association fee includes cable TV, internet, pool, sewer, water, trash, common area taxes, maintenance (structure & grounds), private road, recreational facilities; Community features: clubhouse, fitness center, pool, tennis courts, pickleball, shuffleboard, golf, dog park, sidewalks, street lights, deed restrictions, buyer approval required; Pets allowed (cats and dogs); Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected; Underground utilities; Sprinkler recycled
• Home design: Condominium; Residential property; One story; Entry level: 2nd floor; Faces east
• Construction: Block construction; Shingle roof; Slab foundation; Built as completed (property condition: completed)
• Exterior features: Storage; Landscaped grounds; Paved road access

Interior

• Kitchen: Built-in oven; Cooktop; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Walk-in closet(s); Window treatments (blinds)
• Laundry & utility: Common area laundry with corridor access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (-2.6%/yr); 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 34% of the median local income ($55k/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 $519 of loan paydown is wiped out by about $2k 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 17 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $75k implies a 108% gain — meaningful room to come down on a strong offer.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.08% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.72%
• DSCR: 1.61
• GRM: 4.0

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: -1.5%
• Equity multiple: 0.95×
• Total profit: $-1,105
• Equity at exit: $11,183

10-year hold

• IRR: 2.0%
• Equity multiple: 1.11×
• Total profit: $2,379
• Equity at exit: $6,485

Cash invested: $21,000 (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 33763

• Rents YoY: -2.6%
• Active inventory: 292
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$393
• Tax from tax record: −$20 /mo · $237/yr
• Insurance: −$31
• HOA: −$545
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $240

Break-even live

Break-even rent $1,252

Max offer price $75,000

Occupancy floor 80%

Sensitivity live

Price	-10% $283	-5% $261	+0% $240	+5% $219	+10% $198
Rent	-10% $117	-5% $179	+0% $240	+5% $302	+10% $363
Rate	-1.0pp $278	-0.5pp $259	base $240	+0.5pp $221	+1.0pp $201

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2363 Israeli Dr #67 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	25d	1	0.15mi
2460 Persian Dr #44 Clearwater, FL	2.0	2.0	1100	$1,800	$1.64	5d	1	0.16mi
2400 Franciscan Dr #44 Clearwater, FL	1.0	1.0	735	$1,200	$1.63	25d	1	0.18mi
2386 Sumatran Way #14 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	18d	1	0.29mi
2359 Finlandia Ln Clearwater, FL	2.0	2.0–20.0	1100	$1,400	$1.27	18d	2	0.36mi
2358 Ecuadorian Way #56 Clearwater, FL	2.0	2.0	1100	$1,500	$1.36	4d	1	0.37mi
2455 Finlandia Ln #67 Clearwater, FL	2.0	2.0	1100	$1,495	$1.36	12d	1	0.37mi
2456 Ecuadorian Way #42 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	5d	1	0.38mi
2262 Swedish Dr #10 Clearwater, FL	2.0	2.0	1115	$2,000	$1.79	25d	1	0.38mi
25350 US Highway 19 N Clearwater, FL	3.0	1.0–2.0	875	$1,466	$1.68	3d	28	0.41mi
2466 Ecuadorian Way #32 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	25d	1	0.41mi
2331 Finlandia Ln #53 Clearwater, FL	1.0	1.0	825	$1,345	$1.63	4d	1	0.42mi
2429 Ecuadorian Way #65 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	5d	1	0.42mi
2428 Columbia Dr #68 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	5d	1	0.44mi
2448 Columbia Dr #72 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	0.45mi
2284 Philippine Dr #59 Clearwater, FL	2.0	2.0	1100	$1,795	$1.63	22d	1	0.46mi
2458 Columbia Dr #64 Clearwater, FL	1.0	1.0	825	$1,275	$1.55	25d	1	0.48mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	3d	1	0.50mi
2287 Philippine Dr #29 Clearwater, FL	2.0	2.0	1070	$1,550	$1.45	8d	1	0.50mi
2071 Australia Way W #29 Clearwater, FL	2.0	2.0	1100	$1,525	$1.39	25d	1	0.54mi
24862 US Highway 19 N #3202 Clearwater, FL	1.0	1.0	600	$1,295	$2.16	5d	1	0.54mi
24862 U.S. 19 Unit 3202 1 Clearwater, FL	1.0	1.0	640	$1,295	$2.02	24d	1	0.56mi
2311 Brisbane St #65 Clearwater, FL	2.0	2.0	1100	$1,700	$1.55	13d	1	0.57mi
2310 Denmark St Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	15d	1	0.57mi
2451 Canadian Way Clearwater, FL	2.0	1.0–2.0	1250	$1,598	$1.28	8d	2	0.59mi
2042 Australia Way W Clearwater, FL	1.0	1.0	825	$1,350	$1.64	11d	1	0.59mi
2524 Alexander Pl Clearwater, FL	1.0–3.0	1.0–2.0	991	$1,735	$1.75	3d	20	0.63mi
2433 Brazilia Dr #49 Clearwater, FL	2.0	2.0	1100	$1,750	$1.59	25d	1	0.65mi
2599 Countryside Blvd #210 Clearwater, FL	1.0	1.0	575	$1,400	$2.43	3d	1	0.69mi
2463 Brazilia Dr #61 Clearwater, FL	2.0	1.0	1100	$1,450	$1.32	25d	1	0.69mi
2464 Australia Way E #24 Clearwater, FL	2.0	2.0	1100	$1,600	$1.45	25d	1	0.70mi
2597 Countryside Blvd #209 Clearwater, FL	1.0	1.0	575	$1,500	$2.61	5d	1	0.72mi
2583 Countryside Blvd #3103 Clearwater, FL	1.0	1.0	555	$1,400	$2.52	25d	1	0.89mi
2690 Enterprise Rd E Clearwater, FL	1.0–2.0	1.0–2.0	1051	$1,756	$1.67	4d	9	0.91mi
2005 Greenbriar Blvd #1 Clearwater, FL	2.0	2.0	930	$1,500	$1.61	5d	1	0.96mi
2031 Glass Loop Clearwater, FL	1.0–3.0	1.0–2.0	1058	$1,848	$1.75	3d	34	0.97mi
1960 Union St Clearwater, FL	2.0	2.0	996	$1,775	$1.78	8d	2	1.22mi
2760 Belle Haven Dr Clearwater, FL	2.0	1.0	682	$1,550	$2.27	5d	1	1.26mi
2760 Belle Haven Dr Unit C Clearwater, FL	2.0	1.0	682	$1,550	$2.27	17d	1	1.26mi
2780 Cypress Dr Unit A Clearwater, FL	2.0	1.0	900	$1,749	$1.94	22d	1	1.30mi

HOA detail condo

• Monthly dues: $545 · $6,540/yr
• Likely covers: poolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-10
   status Pending
2. 2026-04-24
   listed $75,000 Active
3. 2010-07-01
   soldstatus $36,000
4. 2001-06-13
   soldstatus $32,500

ⓘ 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: $237 · $20/mo
• Projected year-2 tax: $622 · $52/mo
• Expected delta: +$385/yr (+$32/mo · 162.4%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $18,676
• − Mortgage interest: −$4,201
• − Property taxes: −$237
• − Insurance: −$375
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − HOA: −$6,540
• − Depreciation: −$2,182
• Taxable income: $2,153
• Est. tax owed @ 24.0%: −$517
• After-tax cash flow: $2,365/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

• County: Pinellas County · 939,478 people
• City population: 170,933
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 21,146
• Household income: $54,794
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 753.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 81% English-only · Spanish 10% Other Indo-European 3% 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: ▼ -439.90%
• Current HPI: 265.3099
• Rent YoY: ▼ -2.63%
• 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

+130.8% since first listed

4 events — show timeline

• 2026-05-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2010-07-01 Sold (Public Records) $36,000 Public Records
• 2001-06-13 Sold (Public Records) $32,500 Public Records

Property tax history

-7.4%/yr

Latest (2025): $237 · +10.9% YoY. Source: county tax records.