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1930 Castle Bay Ct
Oldsmar, FL

1930 Castle Bay Ct

$385,000
4 bd • 2 ba • 1,410 sf

This analysis was generated by artificial intelligence 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

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Risk Assessment

Climate Risks

heatEXTREME

7 extreme heat days per year

98th percentile: 107°F

windEXTREME

Insurance: Required

floodEXTREME

FEMA Zone: AE

Insurance: Required

fireMODERATE

Insurance: Recommended

airMODERATE

3 bad air quality days per year

Risk Analysis

• **Extreme Flood Risk (9/10):** The property is located in FEMA flood zone AE, necessitating costly flood insurance. This could add several hundred dollars to the monthly ownership cost. The property's elevation and proximity to water bodies should be carefully evaluated. • **Extreme Wind Risk (10/10):** This implies that the property is highly vulnerable to hurricane-force winds. Wind insurance will also be expensive and may include high deductibles. • **Age of the Home (Built in 1984):** While recent upgrades are positive, the property's age suggests potential for hidden issues (plumbing, electrical, foundation, roof) that will require inspection and maintenance. The roof is not new and may need replacement in the near future. • **Potential Sinkhole Activity:** Pinellas County is prone to sinkholes. A sinkhole inspection is highly recommended, and insurance costs for sinkhole coverage can be substantial. • **High Heat Risk (10/10):** The property is located in an area with extreme heat risks, including 7 hot days per year and a 98th percentile temperature of 107°F. This means higher energy bills for cooling and potential for damage to the property's infrastructure from extreme heat. • **Air Quality Risk (3/10):** The air quality is moderate with 3 bad air days per year, which could be a concern for individuals with respiratory issues. • **Market Fluctuations:** The recent history of price changes (including a significant 83.1% increase on the previous listing) suggests market volatility. Property values may not continue to appreciate at the same rate and could even depreciate if the market shifts. • **Potential Noise Pollution:** The proximity to the Tampa International Airport may result in noise pollution from airplanes. This should be assessed during different times of the day.
Insurance
Annual Cost

$1,386

$116 per month

Financials

Monthly Costs

Price History

Property Taxes

$5,118
2023 Tax Assessment
11.0%from previous year
Assessed Value$334,934
Tax Rate1.53%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$394,717

2.5% above list price

Median Price

$470,000

Based on 6 recent sales

Price per Sq.Ft

$270

Comparable Properties

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Price: $470,000
Sq.Ft: 1,435
Beds/Baths: 3/2
$/Sq.Ft:
$32820.0%
Sale Date: 11/20/2024
113 JASMINE CIRCLE, SAFETY HARBOR, FL 34695
Price: $484,400
Sq.Ft: 1,300
Beds/Baths: 3/2
$/Sq.Ft:
$37336.5%
Sale Date: 10/3/2024
40 SYLVIA PLACE, OLDSMAR, FL 34677
Price: $264,000
Sq.Ft: 1,385
Beds/Baths: 3/2
$/Sq.Ft:
$19130.2%
Sale Date: 8/24/2024
607 CANAL WAY, OLDSMAR, FL 34677
Price: $320,000
Sq.Ft: 1,483
Beds/Baths: 3/2
$/Sq.Ft:
$21621.0%
Sale Date: 9/2/2024
3044 RED OAK COURT #102, PALM HARBOR, FL 34684
Price: $330,000
Sq.Ft: 1,667
Beds/Baths: 3/2
$/Sq.Ft:
$19827.5%
Sale Date: 10/18/2024
103 FOREST CIRCLE, SAFETY HARBOR, FL 34695
Price: $499,900
Sq.Ft: 1,574
Beds/Baths: 3/2
$/Sq.Ft:
$31816.3%
Sale Date: 9/19/2024

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