This Clearwater property presents an outstanding value-add opportunity for an investor seeking substantial completed improvements, a defined remaining renovation scope, and strong potential rental income. The upper level has been completely renovated, while the property’s two-kitchen configuration provides additional flexibility for extended-family living, a guest area, or a potential income-producing layout, subject to verification of zoning, permitting, and the legal use of each living area.

The lower level previously experienced flooding and was quickly remediated. The remaining downstairs work is primarily limited to replacing and finishing the drywall, installing new flooring, painting, and completing the final cosmetic details. With the upper level already renovated and the remaining lower-level improvements clearly identified, an investor can focus capital on completing the property rather than undertaking a full structural or mechanical renovation.

Once the lower level is completed and the entire property is placed into rent-ready condition, current rental data supports an estimated whole-property rental range of approximately $2,700 to $3,100 per month, depending on the quality of the completed finishes, utility responsibilities, parking, outdoor space, and the final approved configuration. This represents potential annual gross rental income of approximately $32,400 to $37,200. Comparable rental homes in the surrounding Clearwater market are currently being offered near this range, including homes between approximately 1,500 and 1,830 square feet listed from $2,700 to just over $3,000 per month.

The property is being offered below its reported assessed value of $388,060 and its reported county just value of $520,000. Just value generally represents the county property appraiser’s estimate of market value before assessment limitations and exemptions are applied, while assessed value is the amount used before applicable exemptions are deducted to determine taxable value. These figures should not be treated as a guaranteed resale price or independent appraisal, but they help illustrate the potential value gap available to an investor purchasing below the reported county valuations.

Located in Clearwater within the greater Tampa Bay market, the property benefits from convenient access to shopping, dining, employment centers, major roadways, area airports, waterfront recreation, and the Gulf Coast beaches. Clearwater’s location between Tampa Bay and the Gulf of Mexico continues to make the area attractive to both long-term residents and renters seeking access to the broader Tampa Bay region.

This is a compelling opportunity for an investor looking to acquire a property with major renovations already completed, a manageable remaining scope, flexible living space, identifiable rental potential, and pricing positioned below the reported county values. The property is being sold as-is, and buyers should independently verify the flood and remediation history, permits, zoning, insurance requirements, square footage, rental projections, and the legal use of both kitchens and living areas.

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