Gutted Beachside Duplex with
13412 2ND E STREET Madeira Beach, FL 33708
For Sale
$299,999
Pending
Duplex with separate meters and entries, gutted per permit, plus a detached garage and 2016 roof replacement.
Property Size1,084 SF
Days on Market530
Property Features for 13412 2ND E STREET
General Information
- Standard status
- Pending
- Size
- 1,084 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1946
Listing Agency:
FUTURE HOME REALTY INC
(727) 214-7513
Listed By:
Andrea Gabel · License #3064474
(727) 214-7513
Source:
Exitrealty
Added: Feb 10, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:45AM
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 FUTURE HOME REALTY INC
Investment Insights
Based on property information with market context.
This is a duplex configured with separate meters and separate entries. The property was storm-damaged and is currently gutted, with permits reportedly in place, allowing for convenient redevelopment. A detached garage is located on the property, and the roof was replaced in 2016. Room measurements are available to be verified by the buyer.
The property is zoned for multi-family use of fewer than 10 units and is described as within walking distance to the beach.
Being offered for sale as-is, this duplex presents a redevelopment opportunity within a multi-family zoning designation for small-scale projects.
The property is zoned for multi-family use of fewer than 10 units and is described as within walking distance to the beach.
Being offered for sale as-is, this duplex presents a redevelopment opportunity within a multi-family zoning designation for small-scale projects.
Key Highlights
- Duplex with separate meters and separate entries
- Gutted interior (permitted) after storm damage
- Roof replaced in 2016
Financial Insights For Multifamily LT 5
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 | $19.4k | $17.88 |
| − Vacancy | −$1.3k | −$1.21 |
| EGI | $18.1k | $16.67 |
| − OpEx | −$5.4k | −$5.00 |
| NOI | $12.7k | $11.67 |
1,084 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$180.8K
$158.2K – $210.9K
NOI $12,653 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$142.4K
$124.6K – $166.2K
NOI $9,970 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$282.0K
$246.7K – $329.0K
NOI $19,737 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with separate meters and entries, gutted per permit, plus a detached garage and 2016 roof replacement.
Where is this duplex located?
The property is located at 13412 2ND E STREET Madeira Beach, FL.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Duplex with separate meters and separate entries; Gutted interior (permitted) after storm damage; Roof replaced in 2016
