Two-Story
For Sale
$500,000
329 63 Court Gulf, Marathon, FL 33050
MULTI_FAMILY - Marathon, FL
Property Size1,302 SF
Lot Size0.24 Acres
Price / SF$384.02
Days on Market212
Property Features for 329 63 Court Gulf
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM - Residential Medium
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Patio and Porch features
Patio
Appliances
Refrigerator, Range, Oven
Subdivision
Casa Blanca (50.5)
View
Water
Directions
Verified with the City of Marathon: The property is zoned Residential-Medium. No ROGO points needed.
Standard status
Active
Size
1,302 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Casa Blanca PB2-86 Key Vaca Lot 5 & S'LY 35' Lot 6 BK 2
Tax Annual Amount
5510
Legal Description
Casa Blanca PB2-86 Key Vaca Lot 5 & S'LY 35' Lot 6 BK 2
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1968
Number of units
2
Building materials
CBS
Roof type
Tar/Gravel
Listing Agency:
Compass Florida - Miami Beach
(305) 851-2820
Listed By:
Iliana Abella · License #519307
(305) 505-0488
Added: Jan 22
Changed: Aug 4
Last Checked: Aug 22 at 2:06PM
MLS# 618269
Copyright © 2026 Florida Keys Board of REALTORS®. 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.
This two-story duplex contains 1,302 square feet with two one-bedroom, one-bathroom units. The property was built in 1968 with CBS construction, a tar-and-gravel roof, electric heat, and window or wall-mounted cooling. Each unit is served by a refrigerator, range, and oven, while patio areas provide additional outdoor space. The building sits on a 10,591-square-foot lot and is designated RM - Residential Medium zoning.
The property is located near restaurants, Sombrero Beach, Marathon Sandbar, Florida Keys Marathon Airport, and Curry Hammock State Park. Its Marathon setting places the duplex within the Middle Keys and provides access to the surrounding recreational and commercial destinations identified in the listing.
The property is located near restaurants, Sombrero Beach, Marathon Sandbar, Florida Keys Marathon Airport, and Curry Hammock State Park. Its Marathon setting places the duplex within the Middle Keys and provides access to the surrounding recreational and commercial destinations identified in the listing.
Key Highlights
- Two‑story duplex with two 1‑bedroom, 1‑bathroom units
- 1,302 square feet on a 10,591 SF lot
- RM - Residential Medium zoning
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
$21,811
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
4.36%
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%
$436,220
$436.2K
Cap Rate 7%
$311,586
$311.6K
Cap Rate 9%
$242,344
$242.3K
Market Conditions
NOI Build-Up for 1,302 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
$33.3K $25.56/SF
− Vacancy
−$2.1K −$1.63/SF
EGI
$31.2K $23.93/SF
− OpEx
−$9.3K −$7.18/SF
NOI
$21.8K $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%
$436,220
Cap Rate 7%
$311,586
Cap Rate 9%
$242,344
Alternative Uses
Best Use
Multifamily LT 5
$311.6K
$272.6K – $363.5K
NOI $21,811 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$288.6K
$252.6K – $336.7K
NOI $20,204 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$523.7K
$458.3K – $611.0K
NOI $36,660 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 33050, FL
10,479
Population
7,314
Households
1.4
Avg Household Size
50
Median Age
34%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
1,152
Density / Sq Mi
$83,243
Median Household Income
$40,006
Median Earnings
$1,611
Median Rent
$705,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units feature separate bathrooms, kitchen appliances, patios, and window or wall-mounted cooling.
Where is this duplex located?
The property is located at 329 63 Court Gulf Marathon, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑story duplex with two 1‑bedroom, 1‑bathroom units; 1,302 square feet on a 10,591 SF lot; RM - Residential Medium zoning
