This 2-bedroom, 2-bath concrete-block home in New Port Richey has 1,100 square feet, an attached 1-car garage, a 7,000-square-foot lot, and genuine lake frontage with water access. The current tenant pays $1,650 per month on a month-to-month lease and can remain, or the home can be delivered vacant at closing. The property has no HOA. The tile flooring is well maintained but needs some updating cosmetically. Because the one-mile comp search produced only two recent renovated lake or canal sales that matched the subject, the selected comps are a little further out but within the same market.
Estimated Repairs Needed
- Interior and exterior cleaning and paint
- Kitchen cabinet, counter, appliance, and lighting updates
- Bathroom finish and fixture updates
- Trim, doors, hardware, and selective flooring work
- Roof, HVAC, water-heater, electrical, and plumbing updates as needed
- Garage, drainage, and waterfront-edge repairs as needed
Comparable Sales
- 3802 Grayton Drive: Located 0.59 miles away, this renovated 2/2 has 1,236 square feet on a 5,100-square-foot lot, an attached 1-car garage, and 60 feet of brackish-canal frontage with access and a concrete seawall. It sold August 2026 for $247,000. Its larger size and seawall are superior, while its above-ground pool receives no value in this analysis.
- 3823 Sail Drive: Located 0.58 miles away, this remodeled 3/2 has 1,344 square feet on a 5,100-square-foot lot, an attached 1-car garage, freshwater-canal frontage, and no pool. It sold August 2026 for $247,000. Its extra bedroom and 244 additional square feet place it above the subject, while the subject’s larger lot and documented lake access partly offset the difference.
- 4111 Stratfield Drive: Located 0.28 miles away, this fully renovated 3/2 has 1,166 square feet on a 5,100-square-foot lot, an attached 1-car garage, pond frontage, and no pool. It sold January 2026 for $225,000. Its third bedroom and Flood Zone X location are superior, but its pond frontage has less utility than the subject’s lake access.
- 4037 Grayton Drive: Located 0.39 miles away, this renovated 2/2 has 900 square feet on a 5,227-square-foot lot, an attached 1-car garage, no pool, and no water frontage. It sold April 2026 for $193,000. It is a lower-weight dry-lot check, with positive adjustments for the subject’s larger size, larger lot, and lake frontage.
ARV & Rental Analysis
Estimated ARV: $245,000 to $255,000 +/-
Estimated Rent: $1,650 to $1,850 per month +/-
