MAJOR PRICE ADJUSTMENT! Welcome to the ultimate boatable waterfront retreat offering unparalleled views of Southerland Bayou at the entrance to the Intracoastal Waterway. Perfectly positioned in the highly sought-after Ozona community on a quiet cul-de-sac, this waterfront residence offers breathtaking panoramic water vistas from every room along with rare deep water access and direct access to the Intracoastal Waterway and Gulf, making it a true boater's paradise. The charming keywest facade, eco-friendly solar power, expansive living spaces, and incredible bones create a rare opportunity for a buyer to bring their vision and decorator's touch to transform this property into a spectacular custom waterfront estate. From the main level, endless water views immediately captivate throughout the open-concept design featuring soaring ceilings, a cozy wood-burning fireplace & a wraparound covered porch showcasing stunning 180-degree water views. Below, enjoy a sparkling pool & lanai, private dock, and covered boat lift. The spacious entertaining areas include a large bar area flowing into the oversized kitchen complete with granite countertops, stainless steel appliances, custom wood cabinetry & a breakfast bar overlooking the water. Adjacent is a formal dining room with intricate ceiling detailing & sweeping water vistas. An additional office/bedroom/in-law suite offers built-in bookshelves & an attached half bath with potential to convert to a full bath, while a closet pantry, separate laundry room & electric dumbwaiter add convenience and functionality. On the opposite wing, two generously sized guest bedrooms offer sliding door access to the lanai & share a Jack-and-Jill bathroom with dual vanities and granite countertops, along with an additional guest bath and spacious office/5th bedroom with another bathroom. Up the grand open staircase, discover the luxurious primary retreat featuring soaring wood ceilings, a versatile bonus room ideal for an office, nursery, or additional closet, a hobby room or oversized walk-in closet & a beautifully appointed en-suite bath with an oversized soaking tub, seamless glass walk-in shower, double vanities, private water closet, and custom walk-in closet with built-in organization. A charming sitting room with a gas fireplace and vaulted ceilings adds warmth and character while plantation shutters and a private covered balcony provide the perfect place to take in the spectacular coastal views and breezes. The ground level offers excellent potential for an in-law suite with a full pool-access bathroom, living room, kitchenette with granite counters, and an additional enclosed flex room recently refurbished, ideal for guests or multi-generational living. Two spacious garages, a workshop, and abundant storage complete the space. While the home could benefit from cosmetic updates and modernization, the possibilities are endless for creating a stunning luxury waterfront showcase. Notable upgrades include three HVAC systems (2017, 2018, 2020), Roof 2018, monitored alarm system, two boat docks, and solar power. Situated in a beautifully maintained HOA-free upscale neighborhood just minutes from downtown Palm Harbor and Crystal Beach, with endless dining, shopping, award-winning beaches, excellent medical facilities, top-rated schools, and Tampa International Airport only 30 minutes away, this rare waterfront gem offers luxury living, privacy, unmatched boating access, and the ultimate Florida coastal lifestyle.