300 Elizabeth Ave · Clearwater, FL 33759

$399,000

4 bd · 2.0 ba · 1,566 sqft · MultiFamily public records · 119 Days on market

Built 1983 7,092 sqft lot

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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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.6/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• 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 MLS

CALLING ALL INVESTORS!! Duplex on quiet, dead-end, street off Gulf to Bay Blvd. between US Hwy 19 and Bayside Bridge. Two - 2 bedroom 1 bath units, with newer roof. Each unit has their own driveway with adequate parking. Tenants pay for their own utilities. Property convenient to shopping, restaurants, US HWY 19, Bayside Bridge and direct access to Tampa via Courtney Campbell Brige. Don't miss this Opportunity!

Key facts

• 7,092 sq ft lot
• Built 1983
• Listed 119 days

Tags

• CONCRETE BLOCK DUPLEX
• PRIVATE PARKING SPACES
• ROOF REPLACED IN 2014

Property features AI

Finance

• Other: Total of 2 units and 1 building; Two separate water meters; Lot about 0.16 acre (approx. 101 x 70) — asphalt road
• Financial info: Gross income reported at $50,400; Annual net income reported at $42,760; Tenants pay electricity, water, sewer, and trash collection
• HOA & community: No association

Exterior

• Parking: Driveway
• Utilities: Private water source; Public sewer (sewer connected); Electricity connected; Water served by multiple meters
• Home design: Duplex (residential income); One level
• Construction: Block construction; Shingle roof; Slab foundation; Built as completed (existing property)
• Exterior features: Storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 2-bedroom units (Unit A occupied; Unit B vacant)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Thermostat; Electric water heater
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive. Per door: $163/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $385k (3.5% below list).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Eisenhower Elementary School (math 47% / reading 40%, grade F, #1,345 of 2,144 statewide, top 64%, 661 students, 74% FRL); Safety Harbor Middle School (math 45% / reading 43%, grade D, #327 of 571 statewide, top 57%, 974 students, 50% FRL); Countryside High School (math 25% / reading 45%, grade F, #379 of 667 statewide, top 58%, 1,741 students, 44% FRL).
• Market conditions: Rents falling (-5.6%/yr); 116 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $3,850/mo this rent would consume 68% of the median local household income ($67k/yr) (locally 1209% 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 $3k of loan paydown is wiped out by about $12k 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 119 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $51k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; list at $399k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $363,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.96% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 8.6

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: -14.2%
• Equity multiple: 0.51×
• Total profit: $-55,188
• Equity at exit: $59,492

10-year hold

• IRR: -11.1%
• Equity multiple: 0.42×
• Total profit: $-64,850
• Equity at exit: $34,498

Cash invested: $111,720 (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 33759

• Rents YoY: -5.6%
• Active inventory: 116
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $3,850 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$458 /mo · $5,491/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $325

Break-even live

Break-even rent $3,438

Max offer price $399,000

Occupancy floor 87%

Sensitivity live

Price	-10% $551	-5% $438	+0% $325	+5% $212	+10% $99
Rent	-10% $21	-5% $173	+0% $325	+5% $477	+10% $629
Rate	-1.0pp $526	-0.5pp $427	base $325	+0.5pp $222	+1.0pp $117

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,850
Total (2 units)			$3,850

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2981 Gulf To Bay Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1198	$6,106	$5.10	5d	27	0.41mi
2600 W Grand Reserve Cir Clearwater, FL	1.0–3.0	1.0–2.0	1097	$2,570	$2.34	0d	34	0.45mi
2729 Seville Blvd Clearwater, FL	1.0–3.0	1.0–2.0	1057	$3,170	$3.00	0d	30	0.56mi
530 Fairwood Ave Clearwater, FL	2.0–3.0	1.0–2.0	1042	$1,761	$1.69	0d	23	0.69mi
2690 Drew St Clearwater, FL	1.0–3.0	1.0–2.0	974	$1,775	$1.82	3d	12	0.71mi
625 Fairwood Forest Dr Clearwater, FL	3.0	2.5	1528	$2,200	$1.44	26d	1	0.74mi
101 S Old Coachman Rd Clearwater, FL	3.0	1.0–2.0	983	$2,665	$2.71	0d	15	0.86mi
19355 US Highway 19 N Clearwater, FL	1.0–3.0	1.0–2.0	1093	$2,919	$2.67	5d	13	1.03mi
2481 Mellow Ln Clearwater, FL	3.0	2.5	1806	$2,800	$1.55	9d	1	1.05mi
1301 Fairwood Ave Clearwater, FL	3.0	2.0	1104	$2,355	$2.13	6d	1	1.11mi
19135 US Highway 19 N Clearwater, FL	1.0–4.0	1.0–2.5	1139	$2,990	$2.62	0d	31	1.18mi
1320 Sands Ter E Clearwater, FL	1.0–3.0	1.0–2.0	1014	$3,091	$3.05	0d	28	1.24mi
2370 Chaucer St Clearwater, FL	3.0	1.0	1100	$2,500	$2.27	6d	1	1.26mi
46 Baywood Ave Clearwater, FL	3.0	2.0	1920	$2,400	$1.25	26d	1	1.28mi
46 Baywood Ave Clearwater, FL	3.0	2.0	1876	$2,400	$1.28	6d	1	1.28mi
3021 State Road 590 Clearwater, FL	1.0–3.0	1.0–2.0	977	$2,107	$2.16	0d	24	1.32mi
2505 Harn Blvd #1 Clearwater, FL	3.0	2.5	1429	$2,400	$1.68	5d	1	1.34mi
2500 Harn Blvd Unit F28 Clearwater, FL	3.0	2.0	1575	$1,900	$1.21	18d	1	1.35mi
2465 Brentwood Dr Clearwater, FL	3.0	2.0	1301	$2,550	$1.96	26d	1	1.36mi
2625 Florida 590 Unit 2514 Clearwater, FL	3.0	2.0	1274	$2,200	$1.73	12d	1	1.40mi

Listing history 13 events

1. 2026-05-16
   status Pending
2. 2026-04-20
   status Active
3. 2026-04-17
   status Pending
4. 2026-04-12
   status Active
5. 2026-04-12
   price $399,000
6. 2026-04-11
   historical
7. 2026-04-01
   price $420,000
8. 2026-01-14
   listed $450,000 Active
9. 2019-01-07
   soldstatus $200,000 Sold 415-char remark

   Show marketing remark (415 chars)

   CALLING ALL INVESTORS!! Duplex on quiet, dead-end, street off Gulf to Bay Blvd. between US Hwy 19 and Bayside Bridge. Two - 2 bedroom 1 bath units, with newer roof. Each unit has their own driveway with adequate parking. Tenants pay for their own utilities. Property convenient to shopping, restaurants, US HWY 19, Bayside Bridge and direct access to Tampa via Courtney Campbell Brige. Don't miss this Opportunity!

10. 2018-12-03
    status Pending 415-char remark

    Show marketing remark (415 chars)

    CALLING ALL INVESTORS!! Duplex on quiet, dead-end, street off Gulf to Bay Blvd. between US Hwy 19 and Bayside Bridge. Two - 2 bedroom 1 bath units, with newer roof. Each unit has their own driveway with adequate parking. Tenants pay for their own utilities. Property convenient to shopping, restaurants, US HWY 19, Bayside Bridge and direct access to Tampa via Courtney Campbell Brige. Don't miss this Opportunity!

11. 2018-11-30
    listed $199,900 Active 415-char remark

    Show marketing remark (415 chars)

    CALLING ALL INVESTORS!! Duplex on quiet, dead-end, street off Gulf to Bay Blvd. between US Hwy 19 and Bayside Bridge. Two - 2 bedroom 1 bath units, with newer roof. Each unit has their own driveway with adequate parking. Tenants pay for their own utilities. Property convenient to shopping, restaurants, US HWY 19, Bayside Bridge and direct access to Tampa via Courtney Campbell Brige. Don't miss this Opportunity!

12. 1983-05-01
    soldstatus $13,500
13. 1981-09-01
    soldstatus $12,000

ⓘ 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: $5,491 · $458/mo
• Projected year-2 tax: $5,491 · $458/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 · 27 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: $46,200
• − Mortgage interest: −$22,350
• − Property taxes: −$5,491
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,696
• − Management: −$3,696
• − Depreciation: −$11,607
• Taxable loss: −$2,635
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $4,536/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): 17,557
• Household income: $67,492
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1209.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 4% Slovak 3% Italian 2%
• Foreign-born: 16% · Canada, Jamaica, Vietnam
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 4% 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: ▼ -249.16%
• Current HPI: 343.0721
• Rent YoY: ▼ -5.57%
• 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

+3225.0% since first listed

13 events — show timeline

• 2026-05-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $420,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Listed $450,000 Stellar MLS as Distributed by MLS Grid
• 2019-01-07 Sold (MLS) $200,000 Stellar MLS as Distributed by MLS Grid
• 2018-12-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-11-30 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 1983-05-01 Sold (Public Records) $13,500 Public Records
• 1981-09-01 Sold (Public Records) $12,000 Public Records

Property tax history

+10.9%/yr

Latest (2025): $5,491 · +13.6% YoY. Source: county tax records.