Property Description:
This 980 sq ft 3-bed, 2-bath home sits on a 5,859 sq ft lot in St. Petersburg’s Riviera Bay neighborhood. Built in 1951, the property has CBS and frame mix construction. The roof was replaced in 2016. The AC system needs to be replaced.
Last year’s storm caused water damage, and drywall has been removed up to four feet as part of remediation. The home will need a full interior renovation including drywall installation, kitchen and bath updates, new flooring, paint, fixtures, and AC replacement. FEMA letter is on file, confirming repairs or improvements can be made up to $64,718, without triggering substantial improvement requirements. With the roof in good condition and a small footprint, rehab costs should remain well under FEMA’s improvement cap.
🔴 Recently Sold / Pending
· 500 86th Ave N – 978 sq ft, 3/2, built 1957 → Sold $255,000 ($261/sq ft) – updated
· 8708 Orient Way NE – 1,104 sq ft, 2/2, built 1969 → Sold $285,000 ($258/sq ft) – updated
· 560 80th Ave N – 975 sq ft, 2/1, built 1948 → Sold $285,000 ($292/sq ft) – updated
· 621 89th Ave N – 994 sq ft, 3/2, built 1962 → Sold $330,000 ($332/sq ft) – updated
· 538 80th Ave N – 768 sq ft, 2/1, built 1956 → Pending $282,000 ($367/sq ft) – updated
✅ ARV Conclusion
All comparable sales are in the same floodplain as our house, and represent fully remediated, renovated properties. Renovated homes in this area are selling between $258–$367 per sq ft, while unrepaired storm-damaged homes trade at a steep discount.
Likely ARV: ~$285,000 +/- (at $290/sq ft with full renovation)
High-End ARV: ~$300,000 +/- (if completed with high-quality finishes and strong curb appeal).