Waterway Estates – Waterfront 4/4 with Pool

Property is a 4-bedroom, 4-bath CBS/stucco waterfront home in St. Petersburg’s Waterway Estates area. Built in 1972, the home features 2,898 sq ft of living area on a 7,880 sq ft lot with canal frontage, dock area, screened pool/spa, 2-car garage, oversized paver driveway, no HOA, and strong water views. Photos show a vacant waterfront home with the major lifestyle pieces already in place, but it needs flooring, paint, trim, bath refreshes, pool cleanup, exterior cleanup, and general finish work to compete with the updated waterfront resale comps.

Repairs Needed (Estimate)

• Kitchen and baths: Kitchen appears usable but dated. Baths need cleaning, fixture/finish refresh, and selective updating.
• Flooring, paint, trim, doors/hardware, lighting, drywall patching, and general finish work.
• Pool / Spa: Pool water is green. Budget for cleaning, service, equipment check, and possible finish/equipment repairs.
• Exterior / Yard: Front sod/landscaping, rear patio/pavers, screen enclosure cleanup, fence/side-yard cleanup, and curb appeal.
• Waterfront: Inspect seawall, dock, lift components if included, and canal-side improvements.

🟣 Comparable Sales

1. 1481 49th Ave NE – 4/2 | 1,798 sf | Sold $1,200,000 ($667/sf) | Condition: Closed/Full Flip. Same street, fully updated waterfront product with large composite dock and boat lift. Much smaller, but proves the immediate street can clear $1.2M when finished right.
2. 1425 50th Ave NE – 3/2 | 1,773 sf | Sold $1,100,000 ($620/sf) | Condition: Closed/Full Flip. Updated Ponderosa Shores waterfront home with deep-water canal access and boat lift. Smaller and fewer beds/baths, but very strong nearby water comp.
3. 4331 13th Way NE – 4/3.5 | 2,630 sf | Sold $1,485,000 ($565/sf) | Condition: Closed/Premium Waterfront. Same Waterway Estates buyer pool with 188 ft waterfront, dock, 16,000-lb lift, pool, and superior outdoor setup. This is the ceiling comp.
4. 1131 45th Ave NE – 4/3 | 2,516 sf | Sold $1,439,000 ($572/sf) | Condition: Closed/Premium Waterfront. Direct canal access, strong privacy, high-end finished product. Superior condition and marketing position.
5. 4937 Dover St NE – 3/3 | 2,439 sf | Sold $925,000 ($379/sf) | Condition: Closed/Updated Waterfront. Two-story canal-front home with pool, private dock, new roof, and new AC. This is the caution comp because it was updated but still closed below $1M.
6. 1080 Water Oak Ct NE – 4/3 | 2,820 sf | Sold $1,325,000 ($470/sf) | Condition: Closed/Full Renovation. Fully renovated Placido Bayou lakefront home. Similar size, but gated/lakefront rather than same canal street.
7. 1144 Darlington Oak Dr NE – 4/3 | 2,346 sf | Sold $1,085,000 ($462/sf) | Condition: Closed/Updated. Placido Bayou lakefront pool home. Useful lower premium-area support after price reductions.
8. 1220 Darlington Oak Cir NE – 5/5 | 3,638 sf | Sold $1,555,000 ($427/sf) | Condition: Closed/Premium Ceiling. Larger, newer, gated Placido Bayou estate. Helpful ceiling, but superior to subject.

Clean, updated waterfront product in this buyer pool is clearing from the low $1Ms to mid-$1Ms, with the subject’s size, canal frontage, pool, garage, and 4/4 layout supporting a strong resale number if the pool, dock/seawall, and finish level are handled correctly.

Project ARV: $1,200,000 to $1,300,000 +/-

Projected Rent: $5,500 to $6,500/mo +/-