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$799,000

For Sale - Active
116 Shore Drive Pl, Oldsmar, FL 34677
3 Beds
2 Baths
2,148 Square Feet
0.38 Acres Lot
Built in 1957
For Sale - Active
1 Units
Checked: 1 day ago
Updated: Jul 10, 2025 at 03:26AM

Investment Summary


Monthly Cash Flow
-$848
Cap Rate
4.9%
Cash-on-Cash Return
-5.5%
Debt Coverage Ratio
0.79
Internal Rate of Return (5 years)
-1.4%

Property Description


0.38 Acres Lot
Built in 1957
For Sale - Active
1 Units

Seize this rare opportunity to own a stunning waterfront property on the shores of Old Tampa Bay! Nestled in the heart of Oldsmar, this property boasts over 1/3 acre with 135 feet of direct bay frontage with breathtaking, UNOBSTRUCTED BAY VIEWS and STUNNING SUNSETS! Imagine waking up to wide-open water views and enjoying Florida’s coastal beauty every day! Home was flooded during Hurricane Helene and has been remediated but is in need of renovation. If you are looking to build your dream home, this premium waterfront lot offers ample space for a luxurious custom build with room for outdoor living, a pool, and more! Enjoy the best of Florida living within walking distance to beautiful waterfront parks including R.E. Olds Park and Veterans Memorial Park. Convenient location with easy access to both sides of the bay including the Pinellas Gulf Beaches, Downtown St Petersburg, quaint towns of Safety Harbor & Dunedin, St-Pete Clearwater Airport as well as Tampa amenities including Tampa International Airport, International Plaza Mall, Raymond James Stadium, Downtown Tampa, and more! Whether you’re looking to build your dream home or potentially renovate existing home, this is a rare gem you won’t want to miss. Call today for more details and start living your waterfront dream!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 232816895320020100
  • Lot Size: 16374 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1957

Tax Information

  • Annual Tax: $3,292

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Pinellas

Listing Details


Listed by:
Deric Raymond
COASTAL PROPERTIES GROUP INTER
(813) 553-6869

Source:
Stellar MLS
MLS#: TB8362713
Stellar MLS

Investment Summary


Monthly Cash Flow
-$848
Cap Rate
4.9%
Cash-on-Cash Return
-5.5%
Debt Coverage Ratio
0.79
Internal Rate of Return (5 years)
-1.4%

Purchase Details

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Purchase price:
$799,000
Amount financed:
-$639,200
Down payment:
$159,800
Closing costs:
$23,970
Rehab costs:
$0
Initial cash invested:
$183,770
Square feet:
2,148
Cost per square foot:
$372
Monthly rent per square foot:
$2.37

Financing Details

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Loan amount:
$639,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,093
Property tax:
$274
Insurance:
$357
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,724

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,100 $61,200
Vacancy loss: (6%)
6% -$306 -$3,672
Operating income:
$4,794 $57,528

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$274-$3,292
Insurance: (7%)
7%-$357-$4,284
Property management: (8%)
8%-$408-$4,896
Repairs & maintenance: (5%)
5%-$255-$3,060
Capital expenditures: (5%)
5%-$255-$3,060
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (30%)
30%-$1,549-$18,592

Cash Flow


Monthly Yearly
Net operating income:
$3,245 $38,940
Mortgage payments:
-$4,093 -$49,116
Cash flow:
$848 $10,176