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5694 OAKHURST DRIVE
About This Property
Outdoor living is exceptional with a composite dock, wrapped piers, and boat lift, making this a dream setup for boating enthusiasts or anyone who appreciates life on the water. The expansive covered patio & fenced yard create an ideal space for relaxing, entertaining, or simply enjoying the view.
Inside, the nearly 2,000 heated square feet offers a flexible layout with water views from nearly every room. The home also features a straightforward 3rd bedroom conversion within the existing footprint (see floor plan with dotted lines). A written contractor estimate places, allowing a buyer to quickly transform the home into a 3-bedroom waterfront property while still remaining well below appraised value.
The property is located in unincorporated Pinellas County where short-term rentals are permitted, opening the door to additional income potential for buyers seeking an investment or vacation rental opportunity.
The home was professionally remediated and rebuilt by a licensed contractor following minimal water intrusion (11 inches) in 2024, with all permits closed and finalized for complete peace of mind.
Major updates include: • Brand new April 2025 4-ton 14.3 SEER AC system with 10-year parts warranty • Updated electrical panel • Double-pane windows and PGT sliding glass doors
• Roof replaced in 2017 • Ceramic plank flooring throughout • Updated Primary & Guest Bathrooms
The kitchen offers expansive quartz countertops, abundant shaker cabinetry, Whirlpool appliances, built-in microwave/oven with air fryer, Beverage Fridge, & 2 breakfast bars, creating an ideal space for everyday living and entertaining.
Both bedrooms feature Private en-suite baths, while the spacious primary suite includes 2 oversized walk-in closets, dual vanities, & a large walk-in shower with dual rain heads. Flood insurance is approximately $3,400 per year and is transferable. VALUE OPPORTUNITY IN OAKHURST SHORES! PRICED BELOW Recent Appraised Value - this property presents a rare chance to own a true waterfront Lifestyle home with IMMEDIATE EQUITY!
Located less than 10 minutes to Gulf beaches, parks, shopping, and Bay Pines VA, and approximately 40 minutes to Tampa International Airport, this property offers the perfect combination of waterfront lifestyle, long-term value, and future potential.
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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 31, 2026 | Sold | ||
| Sold | |||
| Jul 21, 2026 | In contract | - | |
| In contract | |||
| Jun 26, 2026 | Price Decreased |
$995,000
↓ $30K
(2.9%) | |
| Price Decreased | |||
| Jun 2, 2026 | Relisted | $1,025,000 | |
| Relisted | |||
| May 22, 2026 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017