Residential Income Property with
1318 6TH W STREET Palmetto, FL 34221
1318 6TH W STREET, Palmetto, FL, 34221
$409,000
For Sale
$409,000
Two-bedroom home with screened lanai, heated saltwater pool, and a detached studio with full bath.
Property Size947 SF
Price / SF$431.89
Days on Market475
Property Features for 1318 6TH W STREET
General Information
- Standard status
- Active
- Size
- 947 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1930
Listing agency
MARCUS & COMPANY REALTY
(941) 345-0178
Listed by
Jessica Adair · License #3403759
(941) 345-0178
Source
Exitrealty
Added: Apr 3, 2025 Updated: Jul 21 at 3:53AM Checked: Jul 21 at 3:53AM
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 MARCUS & COMPANY REALTY
Investment Insights
Based on property information with market context.
For sale is a residential income property operated as a short-term rental for the past three years, with 100+ reviews across Airbnb and VRBO. The main home features two bedrooms, a large bathroom, and an open-concept living and dining area that connects to the kitchen. Outdoor living includes a true southern front porch and a large screened-in lanai, complemented by a newly built heated saltwater pool and a large corner fenced-in yard.
A detached studio space, built in 2022, is located on the property and includes a full-size bed and a full bathroom. This configuration supports flexible guest accommodations within one overall yard setup.
Offered with demonstrated short-term rental performance history and multiple recent updates, the property is set up for immediate use as a furnished guest-ready residence.
A detached studio space, built in 2022, is located on the property and includes a full-size bed and a full bathroom. This configuration supports flexible guest accommodations within one overall yard setup.
Offered with demonstrated short-term rental performance history and multiple recent updates, the property is set up for immediate use as a furnished guest-ready residence.
Key Highlights
- Built in 1930 and used as a short‑term rental for 3 years with 100+ reviews across Airbnb and VRBO
- Two‑bedroom main home with an open living and dining area, plus a kitchen and a large bathroom
- True southern front porch and a large screened‑in lanai in the backyard
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 | $22.0k | $23.28 |
| − Vacancy | −$1.2k | −$1.28 |
| EGI | $20.8k | $22.00 |
| − OpEx | −$9.4k | −$9.90 |
| NOI | $11.5k | $12.10 |
947 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$163.7K
$143.2K – $191.0K
NOI $11,458 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.5K
$243.7K – $324.9K
NOI $19,494 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Two-bedroom home with screened lanai, heated saltwater pool, and a detached studio with full bath.
Where is this short term rental property located?
The property is located at 1318 6TH W STREET Palmetto, FL.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Built in 1930 and used as a short‑term rental for 3 years with 100+ reviews across Airbnb and VRBO; Two‑bedroom main home with an open living and dining area, plus a kitchen and a large bathroom; True southern front porch and a large screened‑in lanai in the backyard
