MTR in Clearwater

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David Ramirez
Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
2y

Clearwater attracts a lot of tourists because of its beautiful beaches. It's hard to determine the demand for it without knowing in what part of the city it would be. If it's walking distance from the beach it would probably be suited for retired snowbirds or remote workers. If it's close to Morton Plant Hospital your target audience would probably be traveling nurses. If it's priced right I don't see why with the audience mentioned above wouldn't work with a 1 bed or 2 bed.

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  • David Ramirez
    Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
    2y

    Clearwater attracts a lot of tourists because of its beautiful beaches. It's hard to determine the demand for it without knowing in what part of the city it would be. If it's walking distance from the beach it would probably be suited for retired snowbirds or remote workers. If it's close to Morton Plant Hospital your target audience would probably be traveling nurses. If it's priced right I don't see why with the audience mentioned above wouldn't work with a 1 bed or 2 bed.

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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 696 votes
    2y
    Quote from @John Mason:

    Hello there friends!!

    Anyone doing MTR in Clearwater? Is it 1 BR or 2 BR? Successful?

    Thanks

    Generally the more space for heads on beds you can provide the better. st pete is strict with STRs and MTRs there’s about 4 streets in the entire city that allow for it. Clearwater and Tampa are hot STR markets for sure 
    [email protected]860-538-3672
    ProAlpha Capital55 Reviews
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    1Reply
  • Tyler Cook
    Realtor · Greater Tampa Bay Area, FL · Member since 2018 · 26 posts · 17 votes
    2y

    @John Mason Assuming you are in a decent part of town, you should have no issue with demand for a medium term rental. I have found the smaller 2 and 1 bedroom rentals are actually better suited for medium term as your typical traveling nurse or professional does not usually need a 3rd or 4th bedroom.

    I just bought a 3/1 in Clearwater; however, it is zoned for Largo which means I can make it a STR. The comps on AirDna are very healthy and the property will cash flow immediately upon moving out. If STR regulations come to the area, my plan is to do MTR and while it is not as much revenue as STR, I should be able to generate a decent return over a 5 year minimum hold.

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  • Tyler Cook
    Realtor · Greater Tampa Bay Area, FL · Member since 2018 · 26 posts · 17 votes
    2y

    @Devin Peterson Largo allows for STRs but Clearwater does not; there are a few exceptions along the boundary line like my current home. See link here: https://pinellasrealtor.org/short-term-rentals/

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