1930 Castle Bay Ct

385K

4 beds

2 baths

1,410 sqft

4 bd • 2 ba • 1,410 sf

This analysis was generated on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$385,000

Price/Sq.Ft

$273

Year Built

1984

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• **Desirable Location:** The property is located in a well-regarded neighborhood in Oldsmar, close to amenities such as Harbor Palms Nature Park, shopping, dining, and entertainment. The proximity to waterfront parks, biking/hiking trails, and other recreational facilities is a major draw. • **Good School District:** The property is zoned for Oldsmar Elementary School (8/10 rating), making it attractive for families with young children. Joseph L. Carwise Middle School (6/10) and East Lake High School (7/10) are also nearby. • **Recent Upgrades:** The home features freshly painted interiors, a newer water heater, and brand-new windows and a sliding glass door with a transferable warranty. These upgrades reduce immediate maintenance needs and enhance energy efficiency. • **Split Bedroom Floor Plan:** The split bedroom layout offers privacy, which is desirable for families and individuals. • **Open Floor Plan and Vaulted Ceilings:** The spacious great room with vaulted ceilings enhances the sense of space and provides a comfortable living area. • **Fenced Backyard:** The newly fenced backyard provides privacy and a secure space for children and pets. • **Convenient Access to Airports and Beaches:** The property is within a 20-minute drive of Tampa International Airport, St. Pete-Clearwater International Airport, Honeymoon Island, and Gulf beaches, making it ideal for those who value travel and recreation. • **Average Price Per Square Foot:** The price per square foot of $273.05 is in line with the Oldsmar average and is not significantly overpriced.

The Bad

• **High Flood Risk:** The property's location in FEMA zone AE and an extreme flood risk score of 9/10 is a major concern. Flood insurance will be expensive, and the property may be at risk of flooding during severe weather events. • **Extreme Wind Risk:** A wind risk score of 10/10 also means high insurance premiums and potential structural damage during hurricanes. • **Limited Closet Space:** The property lacks adequate closet space, particularly in the bathrooms and living room, which could be a concern for buyers with storage needs. One of the four bedrooms doesn't even have a closet. • **Age of the Home:** Built in 1984, the home is now 40 years old. While some upgrades have been made, older homes often require more maintenance and may have hidden issues. The roof is not new and may need replacement soon. • **Moderate Air Quality:** With 3 bad air quality days a year, there is a moderate risk of air pollution that may affect individuals with respiratory problems. • **High Heat Risk:** The property has a high heat risk score (10/10), which means that the property will experience high temperatures in the summer and the cooling costs will be high.

The Ugly

• **EXTREME Flood Risk (9/10):** The property's location in a high-risk flood zone (FEMA Zone AE) is a major concern, necessitating expensive flood insurance and potential for significant property damage from flooding. The insurance premium could easily be over $3,000 per year for this property. • **EXTREME Wind Risk (10/10):** The property's high wind risk increases the likelihood of severe damage during hurricanes. This also translates to higher insurance premiums, potentially exceeding $2,000 per year. Total insurance costs could be over $5,000 per year. • **Potential Sinkhole Risk:** Pinellas County is known for sinkhole activity. A thorough sinkhole inspection is crucial, adding to the upfront costs, and the potential for sinkhole damage requires additional insurance coverage. • **Age of the Home (1984):** While some upgrades have been made, the age of the home could mean potential hidden issues with plumbing, electrical, and the foundation. A comprehensive inspection is needed to uncover these potential problems. The 40-year-old roof is not new and may need replacement soon, costing $10,000-$15,000. • **High Total Monthly Cost of Ownership:** Factoring in mortgage payments (assuming 20% down and ~7% interest), high flood and wind insurance costs, property taxes, and potential sinkhole coverage, the total monthly cost can easily exceed $2,500 - $3,000, even before considering utilities, maintenance, and potential repairs. • **Limited Closet Space:** The lack of closet space, especially in the bathrooms, living room, and one bedroom without a closet, could be a major inconvenience and reduce the property's appeal for buyers with significant storage needs. • **Market Volatility:** The property's listing history shows a significant 83.1% increase in price from its last sale in 2019. This dramatic increase may not be sustainable and could lead to price depreciation if the market shifts. • **High Heat Risk (10/10):** The property is located in an area with extreme heat risks, which may result in high energy costs for cooling during the summer months. The property's infrastructure will also be impacted by this risk.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• First-time homebuyers looking for a starter home in a family-friendly neighborhood with good schools. The proximity to Oldsmar Elementary (8/10 rating) is a significant draw for families with young children. • Buyers seeking a low-maintenance property with recent upgrades. The new windows, sliding glass door with transferable warranty, and newer water heater reduce immediate maintenance concerns. • Individuals or families who value outdoor recreation and proximity to amenities. The home’s location near Harbor Palms Nature Park and the various recreational facilities in Oldsmar (ice rink, BMX track, waterfront parks) is ideal for an active lifestyle. • Buyers comfortable with a moderate level of flood risk. While the flood risk is high, the property is not a manufactured home and may qualify for standard insurance with proper mitigation. • Buyers with a household income of at least $80,000, assuming a conservative 25% DTI. This assumes a monthly mortgage payment of approximately $2,000 (20% down, 7% interest), $115 for insurance, and $200 for property taxes, totaling roughly $2,315/month.

Not For

• Buyers who are highly risk-averse, especially regarding flood risk. The property's EXTREME flood risk (9/10) and FEMA Zone AE designation make it unsuitable for those seeking minimal flood exposure. The high wind risk (10/10) also adds to the overall risk profile. • Buyers on a very tight budget. While the price per square foot is $273.05, which is average for Oldsmar, the high insurance costs associated with flood and wind risks will significantly increase the total monthly cost of ownership. • Buyers seeking large closet spaces. The property has built-in closets in the bedrooms, but limited closet space in the bathrooms and living room. Bedroom 4 has no closet at all. • Buyers who prioritize privacy. While the backyard is newly fenced, the property is located in a neighborhood with close proximity to neighboring homes. • Buyers seeking a larger home. At 1,410 square feet, the home may be too small for larger families or those accustomed to more spacious living areas.

Demographics

Area Median Income

$76,217

Property History

Price History

Ownership Timeline

$0Cash Purchase

Apr 12, 2022

Hieu Minh Vuong, Fonda Cheung VuongHieu Minh Vuong, Fonda Cheung Vuong

Intrafamily Transfer

Non-Arm's Length Transactions

$213,000Cash Purchase

Nov 22, 2019

Jessica Calvagno, Joseph CalvagnoHieu Minh Vuong, Fonda Cheung Vuong

Warranty Deed