Waterfront Duplex with
For Sale
$699,000
1433 Sunset Road, Big Pine Key, FL 33043
CBS two-unit property with canal access, furnishings, carport, and on-site storage.
Property Size1,924 SF
Price / SF$363.31
Days on Market362
Property Features for 1433 Sunset Road
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$5,748
Amenities
Window/Wall Unit, Ceiling Fan(s)
Tile, Terrazzo
Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
3
Furnished, Florida Room
Tar Gravel
Patio
Storage Area.
Carport.
Canal
0.18
Canal, Extra Storage.
Building Details
Year Built
1968
Listing Agency:
Action Keys Realty of the Lower FL Keys LLC
(305) 304-7680
Listed By:
Cheryl Moses · License #648470
(305) 304-7680
Source:
Xome
Added: Sep 4, 2025
Changed: Aug 29
Last Checked: Aug 31 at 1:38PM
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 Action Keys Realty of the Lower FL Keys LLC
Investment Insights
Based on property information with market context.
This 1,924-square-foot CBS duplex, built in 1968, contains two units and is offered fully furnished. Interior features include tile and terrazzo finishes, window or wall units, ceiling fans, a Florida room, and appliances including a washer, dryer, dishwasher, refrigerator, oven, and microwave. Exterior improvements include a carport, patio, storage area, tar-and-gravel roofing, and a full seawall.
The property fronts a canal with direct access to Bogie Channel, supporting boating access from the site. The waterfront setting, two-unit configuration, and furnished interiors provide a flexible residential income property format.
The property fronts a canal with direct access to Bogie Channel, supporting boating access from the site. The waterfront setting, two-unit configuration, and furnished interiors provide a flexible residential income property format.
Key Highlights
- Two‑unit CBS duplex with 1,924 square feet
- Direct canal access to Bogie Channel
- Large lot with full seawall
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
$32,231
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
4.61%
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%
$644,620
$644.6K
Cap Rate 7%
$460,443
$460.4K
Cap Rate 9%
$358,122
$358.1K
Market Conditions
NOI Build-Up for 1,924 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
$49.2K $25.56/SF
− Vacancy
−$3.1K −$1.63/SF
EGI
$46.0K $23.93/SF
− OpEx
−$13.8K −$7.18/SF
NOI
$32.2K $16.75/SF
Area
Monroe County, FL
Vacancy
6.37%
Lease Rate
$25.56 /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%
$644,620
Cap Rate 7%
$460,443
Cap Rate 9%
$358,122
Alternative Uses
Best Use
Multifamily LT 5
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$426.5K
$373.2K – $497.6K
NOI $29,856 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$773.9K
$677.2K – $902.9K
NOI $54,174 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 33043, FL
4,661
Population
3,003
Households
1.6
Avg Household Size
54
Median Age
27%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
281
Density / Sq Mi
$92,955
Median Household Income
$47,194
Median Earnings
$2,017
Median Rent
$563,700
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 - CBS two-unit property with canal access, furnishings, carport, and on-site storage.
Where is this duplex located?
The property is located at 1433 Sunset Road Big Pine Key, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit CBS duplex with 1,924 square feet; Direct canal access to Bogie Channel; Large lot with full seawall
