Duplex With New
For Sale
$449,900
13434 1ST ST E, Madeira Beach, FL 33708
MULTI_FAMILY - MADEIRA BEACH, FL
Property Size1,352 SF
Lot Size0.09 Acres
Price / SF$332.77
Days on Market418
Property Features for 13434 1ST ST E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MULTI-FAM
Rooms
Laundry Room
Interior features
Ceiling Fans(s)
Exterior features
Storage
Subdivision
MITCHELLS BEACH REV
Directions
From Rt682 West Pinellas Bayway turn left onto 54th Ave S. Turn onto Rt699 right on Gulf Blvd and then right on 75th Ave. Stay on Rt699 and turn left onto Blind Pass Rd. Turn right onto 134th Ave E. Turn left onto First St E. House on your left in 200 ft.
Special listing conditions
Short Sale
Standard status
Active
APN
15-31-15-58320-010-0160
Size
1,352 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MITCHELL'S BEACH REVISED BLK 10, LOT 16
Tax Annual Amount
7907
Legal Description
MITCHELL'S BEACH REVISED BLK 10, LOT 16
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private storage
Building Details
Year built
1960
Floors in Building
3
Number of units
2
Flooring type
Recycled/composite flooring
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
MCKAY MANAGEMENT & REALTY
(815) 483-5052
Listed By:
Irina McKay · License #3304955
(815) 483-5052
Added: Jun 16, 2025
Changed: Aug 4
Last Checked: Aug 7 at 11:06AM
MLS# A4656281
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.
Duplex property with two units, configured as 2 bedrooms and 1 bath per side, for a total of 4 bedrooms and 2 baths. The structure is block construction and includes central air with electric (heating) and central heating. Interior features include ceiling fans and a laundry room. Exterior features include storage, and each unit offers covered parking plus private storage.
The property was demo’d following Hurricane Milton, creating a blank-canvas condition for renovation. A shingle roof was replaced in 2024. County water and sewer are in place, and cable is available. There is no HOA.
Zoned R-2, the property is described as having a 3-month minimum lease requirement. The record also indicates no flood elevation requirement per FEMA.
The property was demo’d following Hurricane Milton, creating a blank-canvas condition for renovation. A shingle roof was replaced in 2024. County water and sewer are in place, and cable is available. There is no HOA.
Zoned R-2, the property is described as having a 3-month minimum lease requirement. The record also indicates no flood elevation requirement per FEMA.
Key Highlights
- Two units, each with 2 bedrooms and 1 bath for total of 4 bedrooms and 2 baths
- 0.09‑acre lot and 1,352 SF duplex with block construction
- Covered parking plus private storage for both units
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
$15,781
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
3.51%
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%
$315,620
$315.6K
Cap Rate 7%
$225,443
$225.4K
Cap Rate 9%
$175,344
$175.3K
Market Conditions
NOI Build-Up for 1,352 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
$24.2K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.5K $16.67/SF
− OpEx
−$6.8K −$5.00/SF
NOI
$15.8K $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%
$315,620
Cap Rate 7%
$225,443
Cap Rate 9%
$175,344
Alternative Uses
Best Use
Multifamily LT 5
$225.4K
$197.3K – $263.0K
NOI $15,781 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$177.6K
$155.4K – $207.2K
NOI $12,434 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$351.7K
$307.7K – $410.3K
NOI $24,617 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
568
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 - Duplex on 0.09 acres in R-2 zoning with county water and sewer, covered parking, and private storage for both units.
Where is this duplex located?
The property is located at 13434 1ST ST E Madeira Beach, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bath for total of 4 bedrooms and 2 baths; 0.09‑acre lot and 1,352 SF duplex with block construction; Covered parking plus private storage for both units
