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$748,000

For Sale - Active
433 S Paula Dr Apt 31, Dunedin, FL 34698
3 Beds
3 Baths
1,755 Square Feet
0.06 Acres Lot
Built in 1975
For Sale - Active
1 Units
Checked: 16 hours ago
Updated: Sep 05, 2025 at 06:30PM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,967
Cap Rate
3.0%
Cash-on-Cash Return
-13.7%
Debt Coverage Ratio
0.49
Internal Rate of Return (5 years)
-9.3%

Property Description


0.06 Acres Lot
Built in 1975
For Sale - Active
1 Units

“WOW”. This is a beautiful updated condominium that boasts a spacious and modern design with 3 bedrooms and 2 ½ baths with breathtaking views of the Gulf of Mexico including Caladesi Island on Dunedin Beach. The gourmet kitchen has a lot of seating for entertaining and just hanging out with all the innovative storage you need underneath the island. Little hideaway’s such as the microwave, coffee corner, and a creative beautiful pull-out shelving and storage under the staircase. The living room with crown molding offers a beautiful custom made fireplace with views of the beautiful sunsets. The comfortable open concept between the living room, kitchen and dining area is light and bright. The handy laundry room with a pocket door offers you storage and a large stackable washer and dryer. The updated powder room is convenient for your guests. The dining room is light and bright with a calming sitting area that looks out to the large patio where you get to see the million dollar view. The awning that covers you from some of the sun and rain. The unit provides you with hurricane shutters. Both guest bedrooms face the water and one has a small patio. A very convenient updated 2nd floor guest bathroom offers you a bathtub/shower with a beautiful waterfall backsplash, rain head in the shower, tile floor and tile counter tops with a lots of storage. The primary bedroom and ensuite has recently been updated and has a small patio from bedroom. The primary bathroom has great lighting, shiplap walls, rain head in shower, 3 medicine cabinets, his and hers sinks, stylish fixtures, tile counters and lots of storage with tile flooring. Between the bedroom and ensuite there are two dual closets, one walk in and one built in. Plenty of uncovered parking for your guest or 2nd car. Each unit has an assigned covered parking spot with storage. The pool area has a privacy fence, shuffleboard court, heated pool, lots of seating with covered areas, grill, clubhouse, outside shower, two inside showers and bathrooms in the clubhouse. The clubhouse offers a kitchen area, dining table, foosball and a pool table. The community offers a first come first time base kayak rack and storage units for an additional fee. The area is in prime location with easy access to multiple marinas. The community is in walking distance to the Pinellas bike trail, Honeymoon Island, restaurants, gym, Walgreens, banks, 2 hotels and across the street from Frenchy’s Outpost Restaurant. This condo is a slice of a secret paradise. Fees includes, exterior maintenance, roof, insurance, water, trash and sewer.

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Location


Property Details


Parking

  • Description: Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Masonry
  • Foundation: Slab
  • Roof Material: Shingle

HOA

  • Association: SUE MARINO

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 152815843570000310
  • Lot Size: 2435 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1975

Tax Information

  • Annual Tax: $4,943

Utilities

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

Location

  • County: Pinellas

Listing Details


Listed by:
Wendy Hoffman
SUNCOAST SHORES REALTY
(727) 776-9363

Source:
Stellar MLS
MLS#: TB8394654
Stellar MLS

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,967
Cap Rate
3.0%
Cash-on-Cash Return
-13.7%
Debt Coverage Ratio
0.49
Internal Rate of Return (5 years)
-9.3%

Purchase Details

Find an Agent

Purchase price:
$748,000
Amount financed:
-$598,400
Down payment:
$149,600
Closing costs:
$22,440
Rehab costs:
$0
Initial cash invested:
$172,040
Square feet:
1,755
Cost per square foot:
$426
Monthly rent per square foot:
$1.88

Financing Details

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Loan amount:
$598,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,832
Property tax:
$412
Insurance:
$231
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,475

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$3,300 $39,600
Vacancy loss: (6%)
6% -$198 -$2,376
Operating income:
$3,102 $37,224

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$412-$4,944
Insurance: (7%)
7%-$231-$2,772
Property management: (8%)
8%-$264-$3,168
Repairs & maintenance: (5%)
5%-$165-$1,980
Capital expenditures: (5%)
5%-$165-$1,980
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (37%)
37%-$1,237-$14,844

Cash Flow


Monthly Yearly
Net operating income:
$1,865 $22,380
Mortgage payments:
-$3,832 -$45,984
Cash flow:
-$1,967 -$23,604