I would examine the canal water depth at low tide with a north wind. Allow for the fact that the time of day for low tide will be way off of published sources; usually the tides run late. Notice how high above sea level the land is located.
Look at the nearby blocks. Dozens of these blocks have no houses. This is because there are so many lots with houses built on them for sale at far less than the cost of building a new house with today's codes which may be on stilts by building time depending how far the lot is above eight feet above sea level. Hurricane codes change. My house was 100% protected in 2010. Then the county changed the protection codes and my skylights dropped my house to 0%. I need a few more storm shutters before I re-new my hurricane insurance in December.
At only 1518 sq. ft. but 17 years old, I would appraise it at $50 per sq. ft. plus MAYBE $50,000 for the lot or $126,000. I would buy a bigger house off water and rent boat storage nearer the harbor for my boat. There are too many unknowns about the canal, and whether the whole canal needs expensive work.
If you buy a train ticket, you pay a FARE. If you do not want to pay too much, you want a FAIR price.
I would be happy to show this house if you would like to see it.
Leonard Hughes-Realtor 941-786-8487
Green Lion Realty
493 Barger Dr, Port Charlotte, FL 33954
Tammy Hayes, Realtor
RE/MAX Palm Realty