Pine Island 3/2 Pool Rehab on Oversized Lot

Property is a 3-bedroom, 2-bath single-family home in the Pine Island Tropical Homesites area of Saint James City. Built in 1978, the home offers 2,048 sq ft of living area, a 0.36-acre lot, private in-ground pool, no HOA, and a quiet island setting near Tropical Point Park, local boat/kayak access, marinas, fishing, and Pine Island amenities. This is a full rehab opportunity with strong upside from the larger footprint, oversized lot, and pool setup. Per seller, roof is from 2010. Photos show dated interior finishes, clutter, overgrown exterior areas, and a pool/patio area needing renovation.

Repairs Needed (Estimate)

• Kitchen and baths.
• Flooring, paint, trim, doors/hardware, lighting, drywall patching, fixtures, and general finish work.
• Interior cleanout and trash-out.
• Pool cleanup, resurfacing, tile/coping/paver repair, and equipment inspection/replacement.
• Exterior / Yard: Landscaping, debris removal, overgrowth cleanup, exterior paint, patio cleanup, and curb appeal.
• Roof: 2010 roof. Budget for reroof

🟣 Comparable Sales

1. 3601 Gasparilla St – 3/2 | 1,665 sf | Sold $225,000 ($135/sf) | Condition: Closed/Investor Special. Same immediate area and useful as the lower as-is lane.
2. 3519 Papaya St – 3/2 | 1,469 sf | Sold $350,000 ($238/sf) | Condition: Closed/Newer/Renovated. Smaller than subject, but supports demand for finished inland Tropical Homesites product.
3. 3462 Manatee Dr – 3/2 | 1,769 sf | Sold $335,000 ($189/sf) | Condition: Closed/Updated/Well Maintained. Good resale anchor for clean, livable product in the area.
4. 3678 Tangelo Dr – 4/2 | 1,830 sf | Sold $438,000 ($239/sf) | Condition: Closed/Newer Product. Strong non-waterfront ceiling due to newer 2022 construction and superior condition.
5. 3505 Mango St – 4/2 | 1,830 sf | Active $525,000 ($287/sf) | Condition: Active/Superior Ceiling. Newer 2022 pool home with upgraded features. Helpful for upside, but not used as the main ARV anchor.
6. 3775 Papaya St – 2/1.5 | 1,010 sf | Sold $223,000 ($221/sf) | Condition: Closed/Smaller Finished Product. Smaller and inferior bed/bath count, but supports the market for cleaned-up inland Pine Island product.

Renovated inland Pine Island homes are moving well, and the subject has the size, lot, and pool setup to compete above the smaller updated 3/2 sales once renovated. The strongest finished value sits below the newer 2022 product unless the renovation, pool, roof, and curb appeal are all brought to a polished retail level.

Project ARV: $350,000 to $375,000 +/-
Projected Rent: $2,700 to $3,100/mo +/-