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51 CYPRESS DRIVE
About This Property
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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 |
|---|---|---|---|
| Aug 25, 2026 | Price Decreased |
$419,900
↓ $5K
(1.2%) | |
| Price Decreased | |||
| Apr 22, 2026 | Listed by CHARLES RUTENBERG REALTY INC | $424,900 | |
| Listed by CHARLES RUTENBERG REALTY INC | |||
| Jun 4, 2025 | Listed | $425,000 | |
| Listed | |||
| | |||
|
Welcome to your slice of paradise in the desirable Lake Shore Estates community of Palm Harbor! This beautifully remodeled 2-bedroom, 2-bathroom home blends modern updates with tranquil waterfront living.
Step inside to find luxury vinyl flooring flowing throughout the spacious living areas, setting a stylish and low-maintenance tone. The updated kitchen boasts stainless steel appliances, leathered granite countertops, and ample cabinet space – perfect for entertaining or enjoying quiet nights at home.
The primary bedroom features an ensuite bathroom and elegant French doors that open to the expansive back deck and above ground pool. You’ll enjoy stunning water views and direct access to Lake Tarpon – perfect for boating, fishing, or simply relaxing.
Mature landscaping surrounds the home, providing both privacy and natural beauty. Currently operating as a successful short-term rental, this property offers flexibility for full-time living, seasonal stays, or investment income.
No HOA means you have the freedom to use your property as you wish. All of this in an unbeatable location – just minutes to shopping, dining, the renowned Clearwater Beach, parks, and a short drive to Downtown Tampa. Enjoy easy access to highways and nearby attractions like Copperhead Golf Course at Innisbrook Resort.
Whether you're seeking a serene lakeside retreat, a turnkey rental, or a centrally located home base, this property has it all.
Don’t miss this rare opportunity – schedule your private showing today!
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| Aug 8, 2022 | Sold | ||
| Sold | |||
| Jun 15, 2022 | Listed by CHARLES RUTENBERG REALTY INC | $390,000 | |
| Listed by CHARLES RUTENBERG REALTY INC | |||
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About Palm Harbor
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017