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$985,000

For Sale - Active
1626 Sea Breeze Dr, Tarpon Springs, FL 34689
3 Beds
3 Baths
3,103 Square Feet
0.29 Acres Lot
Built in 1959
For Sale - Active
1 Units
Checked: 1 day ago
Updated: Jul 22, 2025 at 11:16AM

Investment Summary


Monthly Cash Flow
-$3,409
Cap Rate
2.0%
Cash-on-Cash Return
-18.1%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-13.5%

Property Description


0.29 Acres Lot
Built in 1959
For Sale - Active
1 Units

OFFERING this CUSTOM three story waterfront home, on the Gulf of America. Large front yard leading to this incredible home with all the amenities for enjoying the Florida lifestyle. The first floor includes the attached two car garage (brand new hurricane “smart” garage door with opener and camera) which enters into the laundry and kitchen areas. The laundry has custom cabinetry and granite countertops with sink. All new ceramic flooring throughout the home takes you into a custom-built kitchen, which includes the cabinetry, quartz countertops, custom hood and Café Designer Appliances. Continuing from the kitchen to the dining area and living room to the view through the pool area to the gulf and boat dock. Out of the elements is a 7’x15’ fiberglass pool and area within the home. Above the pool room is a loft for additional storage, office or guests. A fantastic place to enjoy the “privacy” of an enclosed indoor pool, or a choice to open the sliding 9 panes of hurricane sliding doors to have an open view of the gulf. The master bedroom has a waterfront view and contains a new walk-in closet and master bath completely remodeled. Around the corner is the second bedroom and second bathroom, updated in 2021. The next level, accessed by a stairway, leads you to the third bedroom. A recently added third floor is the ultimate entertaining room with panoramic water view, walk out observation deck and hurricane windows. Currently is set up with a bar and gaming table. Pay attention to ALL the custom details on your way through the house, such as the exotic canary wood windowsills. On entry to the dock is a 24’x14’ custom deck surrounding two majestic Australian Pines. Great for relaxation and watching the amazing gulf sunsets. Custom 8000 lb. boat lift installed in 2021 and NEW marine grade, maintenance free “wear decking”. The dock also contains custom lighting and an outdoor” manatee” shower. It is approximately a 15-minute boating experience to the Anclote sandbar and channel. As an added area for outdoor enjoyment is a firepit entertainment area at waterfront. Newly installed, Hurricane Rated "Smart" garage door. You can boat to Captain Jacks, downtown Tarpon Springs Sponge Docks, Rusty Bellies, Miss Vicki’s, and Ozona Blue, to name a few. It is also a short boat or bike ride to Howard Park. For your RV or guests, the driveway has a 50 amp hook up and sufficient depth for a 40 ft coach. This is truly THE property to enjoy the Florida lifestyle!

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Location


Property Details


Parking

  • Description: Garage Door Opener
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 3

Exterior Features

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

Land Information

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

Lot Information

  • Parcel ID: 032715793440000250
  • Lot Size: 12484 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Coastal, Custom
  • Year Built: 1959

Tax Information

  • Annual Tax: $13,472

Utilities

  • Water & Sewer: Public
  • Heating: Heat Pump
  • Cooling: Central Air, Ductless

Location

  • County: Pinellas

Listing Details


Listed by:
Chuck Guth
AGILE GROUP REALTY
(813) 569-6294

Source:
Stellar MLS
MLS#: TB8398724
Stellar MLS

Investment Summary


Monthly Cash Flow
-$3,409
Cap Rate
2.0%
Cash-on-Cash Return
-18.1%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-13.5%

Purchase Details

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Purchase price:
$985,000
Amount financed:
-$788,000
Down payment:
$197,000
Closing costs:
$29,550
Rehab costs:
$0
Initial cash invested:
$226,550
Square feet:
3,103
Cost per square foot:
$317
Monthly rent per square foot:
$1.29

Financing Details

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Loan amount:
$788,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$5,046
Property tax:
$1,123
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,449

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (28%)
28%-$1,123-$13,473
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (53%)
53%-$2,123-$25,473

Cash Flow


Monthly Yearly
Net operating income:
$1,637 $19,644
Mortgage payments:
-$5,046 -$60,552
Cash flow:
$3,409 $40,908