Waterfront Living Without Compromise 7418 Bay Drive, Tampa, Florida. Welcome to a rare opportunity in REOlds Farm, one of Tampas most serene waterfront enclaves. This elevated three bedroom, three bath residence offers the ideal blend of tranquility, functionality and flexibilitywith no HOA restrictions and full rental freedom. Enjoy panoramic water views from nearly every room, with direct canal access to Tampa Bay and the Gulf of Mexicono bridges required. The recently upgraded floating dock and TREX decked lounge invite boating, paddleboarding and relaxed alfresco living. Significant infrastructure upgrades include a 2024 HVAC system, 2021 seawall, new roof, remote access gated entry and a fully fenced yard. Inside, the open concept layout centers around a gourmet kitchen appointed with granite countertops, stainless steel appliances and a generous dining area. The primary suite features serene water views and a spa inspired en suite bath. Two additional bedrooms are privately situated on the opposite wing. Downstairs, the oversized garage accommodates two vehicles plus over 1,000 square feet of finished, air conditioned flex spaceideal for a home office, guest suite, gym or income producing opportunity. Based on nearby short term rental performance, projected income ranges from $5,200$5,900/month at 60% occupancymaking this property an exceptional blend of personal enjoyment and potential passive income. This home is ideally located minutes from a driving range, waterfront parks, and two dog parks, with Oldsmar and Tampas lifestyle amenities just a short drive away. The neighborhoods peaceful, golf cart friendly streets and proximity to green spaces create a truly enviable lifestyle. No HOA. No rental restrictions. Endless potential.