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    1203 Clays Trl, Unit 406 Oldsmar, FL 34677

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    For Sale
    $285,000

    Two-bedroom, two-bath condo with garage and pond view.

    Property size:
    1,910 SF
    Lot size:
    0.43 Acres

    Property Features for 1203 Clays Trl

    General Information

    Standard status
    Active
    Size
    1,910 SF
    Lot size
    0.43 Acres

    Building Details

    Year built
    1991

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    Listing Contact
    John Bailey Jr
    Source: Exitrealty

    Listing Agency: BHHS FLORIDA PROPERTIES GROUP Listing Agent: John Bailey Jr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Spacious Condo in East Lake Woodlands

    Located in the East Lake Woodlands community, this spacious condo features two bedrooms and two bathrooms. The layout includes a one-car garage and an upstairs living area. A kitchen is situated in the center of the condo, with a large living room to one side and a living/dining room combination with a wood-burning fireplace on the other. The balcony, accessible from both the family room and the primary bedroom, overlooks a pond. The kitchen offers ample cabinet space, granite countertops, and a center island with a range top and a built-in pantry. The guest bathroom has a tub/shower, while the primary bath includes a jetted tub, a separate shower, and dual sinks. Carpets were recently replaced, and the A/C unit was replaced in 2019. The roof was replaced in 2012. In addition to the one-car garage, there is an additional parking pad. Eastlake Woodlands offers amenities such as golf, tennis, pickleball, swimming, and a restaurant for additional fees. The community is centrally located with access to Tampa, Gulf Beaches including Honeymoon Island State Park, restaurants, and shopping. The property size is 1910 square feet.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oldsmar
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6888211
    Latitude
    28.0628087

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    FAQs

    What type of property is this?
    Residential income property - Two-bedroom, two-bath condo with garage and pond view.
    Where is this residential income property located?
    The property is located at 1203 Clays Trl, Unit 406 Oldsmar, FL.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: - Located in the desirable East Lake Woodlands community.; - Includes a 1-car garage and an additional parking pad.; - Features a spacious 2-bedroom, 2-bathroom layout.
    (727) 809-0062
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1203 Clays Trl, Unit 406 Oldsmar, FL 34677
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    Listing Contact
    John Bailey Jr
    Real Estate License ID: 3024103
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