1269 DREW STREET
About This Property
The lot spans 0.09 acres and currently hosts a vacant 1925 Spanish-style home featuring 2 bedrooms, 2 bathrooms, and 1,352 heated square feet (1,599 total under roof). While the structure holds vintage charm, the real value here is in the land and flexible urban zoning, which allows for a range of residential, commercial, or mixed-use applications. Ideal for redevelopment or infill construction.
Cash-only sale – sold strictly as-is. Whether you're looking to build new or land bank in a rapidly transforming area, this property offers excellent upside in one of Pinellas County's most opportunity-rich zones.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 6, 2025 | Sold | ||
| Sold | |||
| Sep 20, 2025 | In contract | - | |
| In contract | |||
| Sep 17, 2025 | Relisted | $225,000 | |
| Relisted | |||
| Aug 20, 2025 | In contract | - | |
| In contract | |||
| Aug 4, 2025 | Price Decreased |
$250,000
↓ $25K
(9.1%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017