Comfortable Condo with Marina Views

2960 59TH S STREET 411 Gulfport, FL 33707

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For Sale
$175,000

Charming 2 bed/2 bath condo with updated kitchen and amenities.

Type:Condo/Townhome
Property size:
1,120 SF
Price / SF:
$156/SF
Added:
Nov 30, 2024
Days on Market:
588
Last Refresh:
Apr 5 at 10:44 pm

Property Features for 2960 59TH S STREET 411

General Information

Standard status
Active
Size
1,120 SF
Property subtype
Condo/Townhome

Building Details

Year Built
1973

Listing office NEXTHOME LOCAL EXPERT

Listing date Nov 30, 2024

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of NEXTHOME LOCAL EXPERT


Investment Insights

Based on property information with market context.

This charming 2-bedroom, 2-bathroom condo offers comfortable living with peek-a-boo water views of the marina. The updated kitchen features full-size stainless steel appliances, including a gas range, over-the-range microwave, dishwasher, and double-door fridge. The spacious living room and dining combo area provides ample space. The rear Florida room is filled with natural light. The primary bedroom includes two large his and her closets and an en-suite bathroom with a walk-in shower. The second bedroom is also spacious. The building has strong reserves with no upcoming special assessments, having invested $700k in major upgrades and renovations, including re-lining of plumbing pipes and new stairwells. The building has completed Phase 1 Milestone inspection with no Phase 2 required, and the SIRS financial inspection has been completed and passed. The building performed well during the 2024 storm season, and the owner has paid all assessments in full. The monthly HOA fee includes exterior maintenance, building insurance, water, trash, sewer, natural gas for hot water and cooking, cable, internet, and access to amenities such as a marina with boat slips, clubhouse, tennis, bocci, 4 pools, tennis, pickleball courts, shuffleboard, a full fitness center with sauna, a ballroom, and waterfront access. The unit also includes a deeded covered carport spot. Located in Gulfport, a waterfront community with local eateries, shops, galleries, a library, a senior center, and a casino with dancing, this property offers access to a Tuesday fresh market, a fishing pier, and waterfront walking paths. The unit size is 1120 square feet.

Key Highlights

  • Priced to sell, fully furnished option available due to seller relocation.
  • Updated kitchen boasts full‑size stainless steel appliances, including a gas range.
  • HOA covers an extensive list: gas, water, sewer, trash, cable, internet, exterior maintenance, and building insurance.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $20.2k $18.00
− Vacancy −$1.4k −$1.28
EGI $18.7k $16.72
− OpEx −$8.4k −$7.52
NOI $10.3k $9.20
1,120 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$147.2K
$128.8K – $171.7K (±1% cap)
NOI $10,301 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.3K
$254.9K – $339.9K (±1% cap)
NOI $20,392 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Residential income properties

Suggested Use

Dental Office HVAC Service Big Box & Wholesale Store Law Firm Bakery (Bike/Boat/Book/etc) Store Auto Parts Store (Bike/Boat/Book/etc) Store Building Supply Locksmith

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Residential income property - Charming 2 bed/2 bath condo with updated kitchen and amenities.
Where is this residential income property located?
The property is located at 2960 59TH S STREET 411 Gulfport, FL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Priced to sell, fully furnished option available due to seller relocation.; Updated kitchen boasts full‑size stainless steel appliances, including a gas range.; HOA covers an extensive list: gas, water, sewer, trash, cable, internet, exterior maintenance, and building insurance.
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