Mixed-Use Opportunity in Clearwater

This 1,382 sq ft 2-bed, 2-bath wood-frame home sits on a 3,859 sq ft lot along Drew St. Built in 1925, the property is zoned for both residential and commercial use—offering flexibility for a rental, flip, or business conversion. Located in Flood Zone X, it has never flooded, and recent permitted plumbing work was completed in 2021. An easement provides driveway access. The home requires major system updates, including a new roof and AC, with the water heater condition unknown. Beyond these, full cosmetic upgrades will be needed—paint, flooring, kitchen and bath modernization, and fixtures—to bring the property to market standards. With strong upside potential and favorable zoning, this is a versatile value-add project.

🛠️ Rehab Scope

• Replace roof and AC unit
• Inspect/replace water heater
• Full cosmetic renovation (paint, flooring, kitchen & bath updates, fixtures)
• Exterior and curb appeal improvements

🔴 Recently Sold / Pending Comps

• 311 N Prescott Ave – 1,616 sq ft, 3/2, built 1927 → Sold $375,000 ($232/sq ft) – updated
• 509 N Washington Ave – 1,176 sq ft, 2/1, built 1953 → Sold $225,000 ($191/sq ft) – dated
• 1484 Laura St – 1,656 sq ft, 2/2, built 1948 → Sold $310,000 ($187/sq ft) – dated
• 112 N Betty Ln – 1,445 sq ft, 4/2, built 1996 → Pending $399,000 ($276/sq ft) – updated
• 317 N Washington Ave – 1,444 sq ft, 3/2, built 1947 → Sold $500,000 ($346/sq ft) – renovated

💰 ARV Outlook

Based on nearby comps, renovated homes in this pocket are selling between $310K–$500K, with an estimated ARV in the $345K–$355K range depending on finishes and whether the mixed-use zoning is leveraged for commercial potential.