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500 W DAVIS BOULEVARD
About This Property
For a builder or a buyer with a vision, this is the kind of footprint that gets discussed for years after the fact, the lot that got away, or the one that didn't. Here, it's available now.
The existing home does need a full renovation, however it offers an opportunity for those with interest in keeping a manageable footprint. With 3 bedrooms, 2 bathrooms, and 2,026 square feet of living space, wood flooring throughout, and a carport under a roof replaced in 2025.
This is Davis Islands, South Tampa's most exclusive and sought-after neighborhood. Situated on an island just outside Downtown Tampa, it has become the destination of choice for professional athletes, executives, and those who want luxury living within a genuinely walkable community. At the center of it all is Davis Islands Village, home to a curated collection of restaurants, shops, and everyday conveniences, easily reached by bike, foot, or golf cart.
Beyond the Village, the Islands offer an active, outdoor lifestyle: the Sandra Freedman Tennis Complex, Roy Jenkins Historic Pool, Bayshore Little League Park, and the Davis Islands Trail are all just minutes away, along with Peter O. Knight Airport and the Davis Islands Yacht Club, details that speak to just how distinct this community is.
The location also puts residents minutes from Downtown Tampa, Water Street, Sparkman's Wharf, and the Tampa Riverwalk, making Davis Islands feel like a city within the city: walkable and residential, while remaining fully connected to everything Tampa has to offer.
Davis Islands is zoned for the A rated Gorrie Elementary, Wilson Middle School, and Plant High School, rounding out the appeal for those building their forever home, or renovating this one, on one of the Islands' best remaining lots.
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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%.
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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 21, 2026 | Price Decreased |
$1,095,000
↓ $90K
(7.6%) | |
| Price Decreased | |||
| Sep 2, 2026 | Listed by FADAL & CO | $1,185,000 | |
| Listed by FADAL & CO | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017