1433 S Belcher Rd Unit F11 · Clearwater, FL 33764

$99,500

2 bd · 2.0 ba · 932 sqft · Condo public records · 144 Days on market

Built 1968 $670/mo HOA · 34% of rent

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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 +24.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Bright & Spacious Clearwater Condo – CORNER UNIT! This well-situated community welcomes ALL AGES and is INVESTOR-FRIENDLY! Step into this inviting second floor 2-bedroom, 2-bathroom corner unit offering over 1,000 sq. ft. of bright, open living space. With its open-concept layout and enclosed balcony, you’ll have flexible options for a home office, fitness area, or cozy guest space. The primary suite features a private bath with shower and a generous walk-in closet. The second bedroom also offers a walk-in closet. The guess bathroom includes a tub and shower and is conveniently located near the second bedroom, plus a linen

Key facts

• Enclosed balcony
• Private bath
• Community amenities

Tags

• CORNER UNIT
• OPEN CONCEPT LAYOUT
• ENCLOSED BALCONY
• PRIVATE BATH
• WALK IN CLOSET
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Total monthly fees: $670; total annual fees: $8,040
• Financial info: Lease restrictions apply
• HOA & community: Monthly condo fee: $670 (includes pool, trash, water, sewer, maintenance - structure and grounds, insurance, escrow reserves); Association approval required; Pets allowed (max pet weight: 5 lbs); Association managed by Qualified Property Management; Pool in the community

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential condominium; Unit located on the 2nd floor; Faces west; Two stories in the building
• Construction: Block and stucco construction; Built-up and membrane roof; Slab foundation; Building F
• Exterior features: Exterior lighting; Private mailbox; Sidewalk

Interior

• Kitchen: Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (one of the unit's rooms is on the 2nd floor)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Ceiling fans; Open floorplan with living room/dining room combo; Thermostat; Walk-in closet(s)
• Laundry & utility: Laundry with corridor access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 falling (-5.2%/yr); 261 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 35% 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 $688 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 144 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 18y ago; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1968 — 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. 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 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: 1.98% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.03%
• DSCR: 1.40
• GRM: 4.2

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: -8.3%
• Equity multiple: 0.71×
• Total profit: $-8,113
• Equity at exit: $14,836

10-year hold

• IRR: -7.8%
• Equity multiple: 0.63×
• Total profit: $-10,418
• Equity at exit: $8,603

Cash invested: $27,860 (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: 261
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,969 high
• Mortgage (P&I): −$522
• Tax from tax record: −$113 /mo · $1,357/yr
• Insurance: −$41
• HOA: −$670
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $210

Break-even live

Break-even rent $1,704

Max offer price $99,500

Occupancy floor 84%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1433 S Belcher Rd Unit F9 Clearwater, FL	2.0	2.0	855	$2,450	$2.87	2d	1	0.02mi
1433 S Belcher Rd Clearwater, FL	1.0–2.0	1.0–2.0	748	$2,450	$3.27	20d	2	0.05mi
2102 Nursery Rd Unit 2 Clearwater, FL	2.0	2.0	960	$1,555	$1.62	14d	1	0.20mi
2159 Nursery Rd Clearwater, FL	1.0–3.0	1.0–2.0	870	$1,481	$1.70	1d	10	0.22mi
2100 Nursery Rd Clearwater, FL	1.0–2.0	1.0–2.0	910	$1,750	$1.92	3d	10	0.23mi
2225 Nursery Rd Clearwater, FL	2.0	1.0–2.0	802	$1,850	$2.31	24d	1	0.24mi
1550 S Belcher Rd Clearwater, FL	1.0	1.0	825	$1,350	$1.64	4d	1	0.28mi
2236 Morningside Dr Clearwater, FL	2.0	1.5	902	$2,200	$2.44	4d	1	0.30mi
2207 Belleair Rd Unit B7 Clearwater, FL	2.0	1.0	857	$1,800	$2.10	20d	1	0.44mi
2207 Belleair Rd Unit B4 Clearwater, FL	2.0	1.0	857	$1,625	$1.90	14d	1	0.44mi
2430 Harn Blvd Unit 14 Clearwater, FL	1.0	1.0	725	$1,400	$1.93	24d	1	0.55mi
2430 Harn Blvd Unit 7 Clearwater, FL	1.0	1.0	725	$1,500	$2.07	4d	1	0.55mi
1330 Moreland Dr Clearwater, FL	2.0	2.0	1192	$2,125	$1.78	24d	3	0.58mi
2346 Druid Rd #1106 Clearwater, FL	2.0	2.0	1008	$1,495	$1.48	16d	1	0.95mi
1515 Flournoy Loop Unit 1511623P Clearwater, FL	1.0	1.0	796	$4,866	$6.11	2d	1	0.96mi
1515 Flournoy Loop Unit 1511622P Clearwater, FL	1.0	1.0	796	$3,057	$3.84	14d	1	0.96mi
1653 Bravo Dr Clearwater, FL	1.0	1.0	850	$2,200	$2.59	4d	1	0.99mi
2168 Druid Rd E Clearwater, FL	1.0–3.0	1.0–2.0	1049	$2,532	$2.41	3d	20	1.00mi
1564 Flournoy Cir W Unit 1515105P Clearwater, FL	2.0	2.0	990	$5,329	$5.38	14d	1	1.01mi
1551 Flournoy Cir W Clearwater, FL	1.0–3.0	1.0–2.0	916	$2,086	$2.28	2d	32	1.02mi
19029 US Highway 19 N Unit 6-10 Clearwater, FL	1.0	1.0	875	$1,300	$1.49	4d	1	1.03mi
20000 US Highway 19 N Unit 610 Clearwater, FL	1.0	1.0	800	$1,150	$1.44	24d	1	1.06mi
20000 US Highway 19 N #612 Clearwater, FL	2.0	2.0	800	$1,300	$1.62	24d	1	1.08mi
19135 US Highway 19 N Clearwater, FL	1.0–4.0	1.0–2.5	1139	$1,849	$1.62	2d	30	1.11mi
2705 Via Murano #136 Clearwater, FL	2.0	1.0	980	$2,100	$2.14	17d	1	1.13mi
2705 Via Murano #125 Clearwater, FL	1.0	1.0	890	$1,795	$2.02	24d	1	1.13mi
2025 Rogers St Clearwater, FL	1.0–3.0	1.0–2.0	985	$1,874	$1.90	10d	10	1.15mi
2723 Via Capri #834 Clearwater, FL	1.0	1.0	770	$1,875	$2.44	4d	1	1.18mi
19029 U.S. 19 Unit 1-19 Clearwater, FL	1.0	1.5	950	$2,000	$2.11	21d	1	1.19mi
19029 U.S. 19 Unit 7-8 Clearwater, FL	2.0	2.0	1060	$2,200	$2.08	17d	1	1.19mi
2721 Via Murano #324 Clearwater, FL	1.0	1.0	770	$1,750	$2.27	4d	1	1.21mi
2724 Via Murano #634 Clearwater, FL	1.0	1.0	890	$1,695	$1.90	24d	1	1.21mi
19355 US Highway 19 N Clearwater, FL	1.0–3.0	1.0–2.0	1093	$2,489	$2.28	3d	13	1.23mi
2353 Shelley St #11 Clearwater, FL	1.0	1.0	585	$1,150	$1.97	24d	1	1.24mi
2554 Oak Trl S Clearwater, FL	1.0–2.0	1.0–2.0	862	$2,131	$2.47	2d	14	1.26mi
2732 Via Murano #527 Clearwater, FL	2.0	2.0	1110	$2,800	$2.52	24d	1	1.26mi
2348 Shelley St #9 Clearwater, FL	2.0	1.0	950	$2,200	$2.32	24d	1	1.27mi
411 S Nimbus Ave Unit 3 Clearwater, FL	1.0	1.0	700	$1,395	$1.99	17d	1	1.27mi
2366 Shelley St #12 Clearwater, FL	1.0	1.0	585	$1,550	$2.65	24d	1	1.29mi
2366 Shelley St Clearwater, FL	1.0	1.0	585	$1,425	$2.44	14d	2	1.29mi

HOA detail condo

• Monthly dues: $670 · $8,040/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-15
   days on market $99,500 Active 144 DOM
2. 2026-06-13
   days on market $99,500 Active 142 DOM
3. 2026-06-09
   days on market $99,500 Active 138 DOM
4. 2026-06-08
   days on market $99,500 Active 137 DOM
5. 2026-06-07
   days on market $99,500 Active 136 DOM
6. 2026-06-04
   days on market $99,500 Active 133 DOM
7. 2026-06-03
   days on market $99,500 Active 132 DOM
8. 2026-06-01
   days on market $99,500 Active 130 DOM
9. 2026-05-31
   days on market $99,500 Active 129 DOM
10. 2026-05-07
    status Active
11. 2026-05-06
    historical
12. 2026-05-02
    listed $105,000 Active
13. 2026-01-04
    status Active
14. 2025-12-04
    price $105,000
15. 2025-10-07
    listed $109,500 Active
16. 2025-04-10
    historical
17. 2025-04-02
    status Active
18. 2025-03-11
    status Pending
19. 2025-02-07
    listed $119,500 Active
20. 2024-11-06
    price $80,000
21. 2024-11-06
    historical
22. 2024-11-02
    price $95,000
23. 2024-10-29
    price $110,000
24. 2024-10-23
    listed $120,000 Active
25. 2024-09-30
    historical
26. 2024-08-30
    status Active
27. 2024-08-22
    status Pending
28. 2024-07-18
    listed $117,000 Active
29. 2022-11-23
    soldstatus $120,000
30. 2022-11-22
    soldstatus $120,000 Closed
31. 2022-10-29
    status Pending
32. 2022-10-14
    status Active
33. 2022-10-08
    status Pending
34. 2022-09-12
    price $129,900
35. 2022-07-27
    price $132,900
36. 2022-07-07
    listed $133,900 Active
37. 2015-07-20
    soldstatus $58,000
38. 2015-07-09
    soldstatus $58,000 Sold
39. 2015-04-21
    historical Contingent - Financing
40. 2015-04-01
    price $58,900
41. 2015-02-12
    listed $60,000 Active
42. 2009-05-15
    soldstatus $70,000
43. 2009-04-30
    soldstatus $70,000
44. 2008-06-09
    listed $79,900
45. 2004-02-10
    soldstatus $55,000
46. 1996-02-07
    soldstatus $28,500

ⓘ 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: $1,357 · $113/mo
• Projected year-2 tax: $1,357 · $113/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 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $23,633
• − Mortgage interest: −$5,574
• − Property taxes: −$1,357
• − Insurance: −$498
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$8,040
• − Depreciation: −$2,895
• Taxable income: $1,490
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $2,157/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): 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

+268.4% since first listed

37 events — show timeline

• 2026-05-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Listed $105,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-04 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-04 Price Changed $105,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Listed $109,500 Stellar MLS as Distributed by MLS Grid
• 2025-04-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-03-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-02-07 Listed $119,500 Stellar MLS as Distributed by MLS Grid
• 2024-11-06 Price Changed $80,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-11-02 Price Changed $95,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-29 Price Changed $110,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-23 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-08-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-07-18 Listed $117,000 Stellar MLS as Distributed by MLS Grid
• 2022-11-23 Sold (Public Records) $120,000 Public Records
• 2022-11-22 Sold (MLS) $120,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-10-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-10-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-09-12 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2022-07-27 Price Changed $132,900 Stellar MLS as Distributed by MLS Grid
• 2022-07-07 Listed $133,900 Stellar MLS as Distributed by MLS Grid
• 2015-07-20 Sold (Public Records) $58,000 Public Records
• 2015-07-09 Sold (MLS) $58,000 Stellar MLS as Distributed by MLS Grid
• 2015-04-21 Contingent — Stellar MLS as Distributed by MLS Grid
• 2015-04-01 Price Changed $58,900 Stellar MLS as Distributed by MLS Grid
• 2015-02-12 Listed $60,000 Stellar MLS as Distributed by MLS Grid
• 2009-05-15 Sold (Public Records) $70,000 Public Records
• 2009-04-30 Sold (MLS) $70,000 Stellar MLS as Distributed by MLS Grid
• 2008-06-09 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2004-02-10 Sold (Public Records) $55,000 Public Records
• 1996-02-07 Sold (Public Records) $28,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,357 · +6.5% YoY. Source: county tax records.