IMPROVED PRICE & SUBSTANTIAL IMPROVEMENT (SI) EXEMPT: Historic Structure Designation Avoids 50% Rule Restrictions
Power & AC Restored | Prime Tarpon Springs Multi-Unit Income Opportunity
This property qualifies as a historic structure under the National Flood Insurance Program (NFIP) and is exempt from Substantial Improvement (SI) requirements (FEMA 50% Rule)—a key advantage for investors planning renovations or repositioning. Letter and links in attachments.
Located in the high-demand Fruit Bowl neighborhood of Tarpon Springs, this versatile multi-unit property presents a compelling opportunity with $55,000+ projected annual revenue and $20,000+ in net income, with upside for increased returns through value-add improvements or short-term rental conversion.
Property Highlights:
• Three income-producing units
o 223 Bath St: 2 Beds | 1 Bath | Washer/Dryer hookup potential
o 225 Bath St: 3 Beds | 1 Bath | Generous layout
o The Hideaway: 1 Bed | 1 Bath | Recently renovated | Private entrance
• 2,153 sq. ft. heated | Nearly 3,000 gross sq. ft.
• Three covered carports | Each unit with designated parking
• Offered AS IS, providing flexibility for contractor updates (water impact from prior storm event)
Why Investors Take Notice:
• Historic exemption—no FEMA 50% Rule cap
• Walkable lifestyle appeal in one of Tarpon Springs’ most charming and established neighborhoods
• Strong rental demand and multiple configurations: long-term income or owner-occupant with rental income,
• Utilities operational—power and HVAC have been restored
This property combines location, cash flow potential, and long-term value, making it an ideal fit for investors seeking both immediate returns and future appreciation in the high-demand Fruit Bowl neighborhood in Tarpon Springs.
Peter Ripa
Coldwell Banker Realty
Mobile
(727) 279-5644
Listing Courtesy of STELLAR / Coldwell Banker Realty / Peter Ripa
$374,900
Tarpon Springs Area Single Family Home
Active
603 Virginia Avenue Tarpon Springs, FL 34689
3 Bed
2 Baths
2034 sqft
MLS# TB8322343
Your opportunity to restore and reimagine – Stunning Whitcomb Bayou Views. Seize the opportunity to create your dream home or investment property in a prime location. This 3-bedroom, 2-bath corner-lot home overlooks Whitcomb Bayou and offers endless potential. Bring your contractor as this property did have water impact from last year's storm. The Florida Room can convert into a fourth bedroom, while the spacious driveway and shed provide ample parking and storage. Opened to the studs after recent water impact, this blank canvas is ready for your vision. With no HOA, you have the freedom to customize as you wish. Enjoy serene water views and easy access to Craig Park’s boat launch, leading to the Anclote River and Gulf of Mexico. Just minutes from historic downtown Tarpon Springs, the iconic sponge docks, beaches, and the Pinellas Trail, this location is ideal for outdoor and waterfront enthusiasts. Recent updates include a 2017 roof, 2021 Carrier HVAC, and 2019 Rheem tankless water heater. Don’t miss this rare opportunity to restore and add value. Easy to show.
Peter Ripa
Coldwell Banker Realty
Mobile
(727) 279-5644
Listing Courtesy of STELLAR / Coldwell Banker Realty / Peter Ripa
$275,000
Tarpon Springs Area Townhome
Active
200 Meres Boulevard 7 Tarpon Springs, FL 34689
2 Bed
2 Baths
965 sqft
MLS# TB8367621
Price Improvement—Waterfront Living with Deeded Dock in Tarpon Springs
Now offered at a new price, this is the only available unit in a quiet, sought-after marina community just moments from the heart of Tarpon Springs. This 2-bedroom, 2-bath townhome includes a deeded dock with Gulf access, making it an ideal opportunity for boaters and lifestyle-focused buyers alike.
Thoughtfully updated and move-in ready, the home features a remodeled kitchen, tile and bamboo flooring, and an open-concept living area perfect for relaxed entertaining. Both bedrooms are en-suite, offering comfort and privacy for residents and guests—ideal for seasonal visitors or year-round living.
Enjoy the convenience of low-maintenance living with exterior care and landscaping handled by the HOA, allowing more time to explore the nearby Sponge Docks, Spring Bayou, Pinellas Trail, and the vibrant local dining and shopping scene.
Whether you're looking for a full-time residence, a seasonal retreat, or a turnkey investment in one of Tarpon Springs’ most charming neighborhoods, this property offers unmatched access, walkability, and lifestyle potential of spending your days on the water.
Now priced competitively to sell. Schedule your showing.
Peter Ripa
Coldwell Banker Realty
Mobile
(727) 279-5644
Listing Courtesy of STELLAR / Coldwell Banker Realty / Peter Ripa
$265,000
Tarpon Springs Area Condominium
Pending
102 Mariner Drive Tarpon Springs, FL 34689
2 Bed
2 Baths
1280 sqft
MLS# TB8342130
Corner Residence with Gulf Views & Boating Access. Discover the perfect blend of privacy, breathtaking Gulf views, and resort-style living in this 2-bedroom, 2-bathroom corner residence in the gated community of Mariner Village. Whether you're seeking a full-time retreat, seasonal getaway, or investment opportunity ($2,500+/month rental potential), this home offers an unparalleled waterfront lifestyle at an exceptional value. The combination of prime corner location and wrap-around patio allows for abundant natural light, stunning Gulf views and amazing sunsets. An open split floor plan provides both comfort and easy hosting. Freshly updated with new flooring & paint (2023) plus newer A/C (2017) & water heater (2022). No storm damage, no flood claims—peace of mind in waterfront homeownership. Resort-style amenities for an active coastal lifestyle include boat slips with direct gulf access available for rent, a rare perk at this price point. Relax and socialize in the heated pool. Tennis & pickleball courts with groups meeting 3X/week. Explore the beauty of the gulf with the private kayak launch & nature trail. Minutes to the Famous Sponge Docks, Pinellas Trail & beaches. Less than 2 miles from Innisbrook Golf Resort, home of the PGA TOUR’s Valspar Championship. Convenient to Tampa & Airports – Just 30-45 minutes. Your Gulf Coast Retreat Awaits – Don’t Miss This Rare Opportunity!
Waterfront living at this price is rare—schedule your private tour today and experience why Mariner Village is one of Tarpon Springs’ best-kept secrets!
Peter Ripa
Coldwell Banker Realty
Mobile
(727) 279-5644
Listing Courtesy of STELLAR / Coldwell Banker Realty / Peter Ripa