8402 Damen Lane, PORT RICHEY, FL

About 8402 Damen Lane

Experience stunning, unobstructed sunrise views over Millers Bayou from this exceptional waterfront property. This waterfront property offers direct access to the Gulf of America, with only about a one-mile boat ride to Durney Key Island. A private boat ramp on the property makes getting on the water easy. Situated on a quiet cul-de-sac, the property features a fenced yard and is the only home with a driveway within the cul-de-sac, offering added privacy. Enjoy approximately 258 feet of water frontage with beautiful open water views. A new seawall was installed in 2023, adding long-term value and protection. Architectural drawings and engineering reports for a new custom home are available. The home has been ruled above the FEMA 50% rule. The current structure is an empty concrete shell and will need to be elevated or re-built or demolished (written est. 10K). The seller currently has an application in the Elevate Florida Grant Program, which is in the final decision stage with FEMA. The application can be transferred to the new owner with a prior owner letter, proof of ownership transfer, and completion of required documentation. If approved, federal grant funding will cover at least 75 percent of the project cost, meaning property owners only need to invest up to 25 percent—a significant savings. The current application that was sent in to FEMA in is not to lift the home but to have a brand new home built in it's place. The current estimated cost of the new build for the buyer is $119,845.07. You would be walking into significant equity!!!!

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