Duplex with Covered Front
For Sale
Under Contract
$310,000
30 LYNN Way, Madeira Beach, FL 33708
Residential Income, MADEIRA BEACH, FL
Property Size1,008 SF
Lot Size0.12 Acres
Price / SF$307.54
Days on Market117
Property Features for 30 LYNN Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
Eat-in Kitchen, Open Floorplan
Exterior features
Lighting
Appliances
Electric Water Heater, Range, Refrigerator
Subdivision
GULF SHORES 6TH ADD REP
Elementary school
Orange Grove Elementary-PN
Middle school
Seminole Middle-PN
High school
Seminole High-PN
Directions
Gulf Blvd, turn right on 140th Ave E, left on Marguerite Dr, right on Lynn Way. Property wil be located on the left.
Standard status
Active Under Contract
APN
10-31-15-34470-024-0070
Size
1,008 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GULF SHORES 6TH ADD REPLAT BLK X, LOT 7
Tax Annual Amount
4541
Legal Description
GULF SHORES 6TH ADD REPLAT BLK X, LOT 7
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
covered front porch
large backyard
Building Details
Year built
1947
Floors in Building
1
Flooring type
Laminate
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ST PETE REALTY · Keller Williams Realty
(727) 894-1600
Listed By:
Jac Smith · License #3346201
(727) 228-1777
Added: May 12
Changed: Aug 27
Last Checked: Sep 5 at 10:06PM
MLS# TB8507793
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,008-square-foot duplex contains two one-bedroom, one-bath units, each measuring 504 square feet. One apartment is finished with laminate flooring, an eat-in kitchen, generous cabinetry, a bedroom closet, and a full bathroom with a tub and shower. The second unit is partially finished. A covered front porch, large backyard, and parking pad add practical outdoor and off-street features.
The property sits on a 0.12-acre lot less than 5 minutes from the beaches and near Gulf Boulevard and I-275. Public water and public sewer serve the property, with electricity available. Construction is block and stucco beneath a shingle roof; the duplex was built in 1947 and uses electric and ductless heating with wall/window cooling units.
The property sits on a 0.12-acre lot less than 5 minutes from the beaches and near Gulf Boulevard and I-275. Public water and public sewer serve the property, with electricity available. Construction is block and stucco beneath a shingle roof; the duplex was built in 1947 and uses electric and ductless heating with wall/window cooling units.
Key Highlights
- Two 504‑square‑foot one‑bedroom, one‑bath units within a 1,008‑square‑foot duplex
- One unit is finished; the second one‑bedroom, one‑bath unit is partially finished
- Covered front porch, large backyard, and off‑street parking pad
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,766
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,320
$235.3K
Cap Rate 7%
$168,086
$168.1K
Cap Rate 9%
$130,733
$130.7K
Market Conditions
NOI Build-Up for 1,008 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.0K $17.88/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$16.8K $16.67/SF
− OpEx
−$5.0K −$5.00/SF
NOI
$11.8K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,320
Cap Rate 7%
$168,086
Cap Rate 9%
$130,733
Alternative Uses
Best Use
Multifamily LT 5
$168.1K
$147.1K – $196.1K
NOI $11,766 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$132.4K
$115.9K – $154.5K
NOI $9,271 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$262.2K
$229.4K – $305.9K
NOI $18,353 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units offer separate living spaces, with one completed apartment and a second unit partially finished.
Where is this duplex located?
The property is located at 30 LYNN Way Madeira Beach, FL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two 504‑square‑foot one‑bedroom, one‑bath units within a 1,008‑square‑foot duplex; One unit is finished; the second one‑bedroom, one‑bath unit is partially finished; Covered front porch, large backyard, and off‑street parking pad
