Lakefront Villa in Tarpon
197 TROPICANA DRIVE 1512 Punta Gorda, FL 33950
197 TROPICANA DRIVE 1512, Punta Gorda, FL, 33950
$325,000
For Sale
$325,000
Spacious 2-bedroom villa with lake views and community amenities.
Property Size2,022 SF
Price / SF$160.73
Days on Market580
Property Features for 197 TROPICANA DRIVE 1512
General Information
- Standard status
- Active
- Size
- 2,022 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2004
Listing agency
MARINA PARK REALTY LLC
(941) 628-2602
Listed by
Chris McMillan · License #673566
(941) 628-2602
Source
Exitrealty
Added: Dec 19, 2024 Updated: Jul 10 at 1:04PM Checked: Jul 21 at 3:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MARINA PARK REALTY LLC
Investment Insights
Based on property information with market context.
This 2022 sq. ft. ground floor villa in Tarpon Cove features a lakefront water view. The property includes 2 bedrooms, 2 bathrooms, and a den. The main living area and formal dining room have wood-look laminate floors. The great room, kitchen, master bedroom, and 16 x 10 tiled lanai offer views of the pond and fountain. The lanai extends the great room with 8-foot sliding doors. The eat-in kitchen features cabinetry and counter space, with sliders to the lanai. The ensuite master bedroom includes crown molding, a walk-in closet, and a master bath with storage, counter space, and a glass block-enclosed shower. The split-bedroom layout provides privacy, and the den/office can accommodate visitors. There is a separate 8 x 5 storage room and an additional 6 x 4 storage area off the garage. The 9 x 9 laundry room includes cabinetry. The property also features an attached 2-car garage. Community amenities include a large pool, a heated jacuzzi, and a clubhouse that doubles as a gym. The community features mature landscaping. The property is located minutes from downtown Historic Punta Gorda and Fisherman's Village, with access to shopping, dining, entertainment, golf, fishing, waterfront parks, tennis, pickleball, and bike and walking paths along Charlotte Harbor and the Riverfront.
Key Highlights
- Lakefront villa with water views from multiple rooms.
- Spacious 2‑bedroom, 2‑bathroom plus den layout with a split‑bedroom design.
- Large eat‑in kitchen with abundant cabinetry and counter space.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $20.04 |
| − Vacancy | −$8.1k | −$3.99 |
| EGI | $32.5k | $16.05 |
| − OpEx | −$14.6k | −$7.22 |
| NOI | $17.9k | $8.83 |
2,022 SF · lease $20.04/SF/yr · vacancy 19.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$255.0K
$223.1K – $297.5K
NOI $17,851 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$662.1K
$579.3K – $772.4K
NOI $46,344 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
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FAQs
What type of property is this?
Residential income property - Spacious 2-bedroom villa with lake views and community amenities.
Where is this residential income property located?
The property is located at 197 TROPICANA DRIVE 1512 Punta Gorda, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Lakefront villa with water views from multiple rooms.; Spacious 2‑bedroom, 2‑bathroom plus den layout with a split‑bedroom design.; Large eat‑in kitchen with abundant cabinetry and counter space.
