551 BAY STREET
About This Property
This adorable 2-bedroom, 1-bath home sits in the heart of one of Florida's most vibrant and walkable coastal towns. Just steps from the Pinellas Trail and a short stroll to all that Downtown Dunedin has to offer - from boutique shops and breweries to art festivals and waterfront sunsets - this is where location meets opportunity.
Whether you're a first-time buyer ready to personalize your dream home or an investor seeking a prime rental property, 551 Bay Street is full of potential. The solid block construction, cozy layout, and spacious backyard create the perfect canvas for upgrades, expansion, or simple beach-town living.
This is more than just a house - it's a lifestyle. Ride your bike to the marina, take a golf cart to dinner, or sip coffee on your front porch as you soak in the charm of this beloved neighborhood.
With its unbeatable location and endless possibilities, this Dunedin gem won't last long. Come make it yours!
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Cap Rate Calculator
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 29, 2025 | Sold | ||
| Sold | |||
| Aug 7, 2025 | In contract | - | |
| In contract | |||
| Aug 2, 2025 | Price Decreased |
$409,000
↓ $16K
(3.8%) | |
| Price Decreased | |||
| Jun 27, 2025 | Listed by KATIE DUCHARME REALTY, LLC | $425,000 | |
| Listed by KATIE DUCHARME REALTY, LLC | |||
| Sep 5, 2001 | Sold | ||
| Sold | |||
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About Dunedin
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KATIE DUCHARME REALTY, LLC
Last Updated: 2 years ago
Data Source: Stellar MLS, MLS# TB8401839
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017