534 CANAL WAY
About This Property
534 Canal Way features a slab foundation, block and stucco construction on a continuous footing. Built in 2001, it offers 1,873 heated sq. ft., 2,441 sq. ft. under roof, and an attached 483 sq. ft. two-car garage. It includes two bedrooms, office/3rd bedroom, two full baths, granite kitchen countertops, and built-in bookshelves in the master bedroom.
Upgrades include a new A/C system (2026), 50 Gal hot water tank (2021 replacement windows and doors (2020), 22kW Generac Guardian Generator w/NG/LP 300 Gallon tank (2020), and a porch added in December 2020. The roof was installed in 2014. Outdoor Stairlift/Accessibility Lift (2024) Rain Bird Irrigation System. Full appliance details in the attachments.
The backyard is a true highlight, featuring a lawn that slopes directly down to the water with no seawall, making it easy to launch a kayak, canoe, or small Jon boat. With no seawall to maintain or replace, upkeep is minimal. Please note: there is no dock or boat lift, making this ideal for paddlers and small craft.
The home is adapted for easy living, complete with a powered chair lift from the driveway to the front door, step railings, assisted lifting rails in the bedroom, and a Kohler walk-in tub in the second bathroom.
Gull-Aire Village is a deed-restricted 55+ community where you own the land, with an HOA fee of just $70/month. Amenities include a clubhouse, large heated pool, spa, sauna, library, enclosed shuffleboard, bocce, picnic area, art gallery, and resident-run activity groups. Oldsmar has designated this a golf cart-friendly community. One pet per home is permitted, and association approval is required prior to closing.
Conveniently located under a mile from Woodlands Square (Bealls, Marshalls, Ulta, PetSmart, AMC Theatres, Craft Street Kitchen, Shaker and Peel, and Eve's Family Restaurant). Publix, Target, Walmart Neighborhood Market, and Mease Countryside Hospital are within two miles. A walking/biking trail along Canal Way leads to Sheffield Park. Honeymoon Island is approximately 9 miles away, and Tampa International Airport is about 15 miles out.
Room dimensions are approximate and should be verified by buyer.
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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 |
|---|---|---|---|
| Nov 3, 2026 | Sold | ||
| Sold | |||
| Oct 11, 2026 | In contract | - | |
| In contract | |||
| Oct 10, 2026 | Price Increased |
$420,000
↑ $3K
(0.7%) | |
| Price Increased | |||
| Oct 4, 2026 | Price Decreased |
$417,000
↓ $3K
(0.6%) | |
| Price Decreased | |||
| Sep 7, 2026 | Listed by LIFES A BEACH REAL ESTATE | $419,500 | |
| Listed by LIFES A BEACH REAL ESTATE | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017