Awesome opportunity to rebuild on an incredible bayou in Treasure Island, or convert the entire downstairs to garage for all your toys and have living above the flood plain! This 6 bedroom, 4 bath home did suffer flooding with Hurricane Helene, but gives a buyer a fantastic opportunity under the FEMA 49% rule to rehab the 2390SF on the bottom floor to restore the three bedrooms, two baths, living room and kitchen. Home has a grand entry way with marble floors and vaulted ceilings. Galley kitchen and walk in pantry can be opened up completely to the breakfast nook, living room and dining room open concept living. Rear bedroom has an ensuite bathroom that serves as a downstairs master, plus two more bedrooms and hall bath. But for the car collector or hobbyist, the downstairs could be converted to garage and storage space, with kitchen moved to the second floor. The second floor has a massive family room, three bedrooms, two bathrooms, laundry room, and large third floor loft that could also be converted to bedroom and bathroom. Hurricane impact doors and windows and shutters added between 2019-2020, and roof was replaced in 2021. Two HVAC units replaced in 2019 and are working at time of listing. Outside, a large pool and spa are great for entertaining, plus manicured fenced yard, and a large Wally Watt shed for storage. A large dock has multiple options for your boating pleasure, but also boasts gorgeous views of the sunset. Don't miss this opportunity for waterfront living in beautiful Paradise Isle, just minutes to Treasure Island Beach, Central Avenue shopping and restaurants, and a short drive to downtown St. Petersburg!