Substantial improvement (si) exempt: historic structure designation avoids 50% rule restrictions power & ac restored | prime tarpon springs multi unit income opportunity this property qualifies as a historic structure under the national flood insurance program (nfip) and is exempt from substantial improvement (si) requirements (fema 50% rule)a key advantage for investors planning renovations or repositioning. Letter and links in attachments. Located in the high demand fruit bowl neighborhood of tarpon springs, this versatile multi unit property presents a compelling opportunity with $55,000+ projected annual revenue and $20,000+ in net income, with upside for increased returns through value add improvements or short term rental conversion. Property highlights: three income producing units o 223 bath st: 2 beds | 1 bath | washer/dryer hookup potential o 225 bath st: 3 beds | 1 bath | generous layout o the hideaway: 1 bed | 1 bath | recently renovated | private entrance 2,153 sq. Ft. Heated | nearly 3,000 gross sq. Ft. Three covered carports | each unit with designated parking offered as is, providing flexibility for contractor updates (water impact from prior storm event) why investors take notice: historic exemptionno fema 50% rule cap walkable lifestyle appeal in one of tarpon springs most charming and established neighborhoods strong rental demand and multiple configurations: long term income or owner occupant with rental income, utilities operationalpower and hvac have been restored this property combines location, cash flow potential, and long term value, making it an ideal fit for investors seeking both immediate returns and future appreciation in the high demand fruit bowl neighborhood in tarpon springs.