Updated CBS
For Sale
$699,000
6415 2nd Terrace, Stock Island, FL 33040
Two kitchens and two bathrooms have been renovated, with a yard offering space for vehicle and equipment storage.
Property Size1,304 SF
Price / SF$536.04
Days on Market25
Property Features for 6415 2nd Terrace
General Information
Standard status
Active
Size
1,304 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,023
Building Details
Building Size
1,304 SF
Year Built
1953
Buildings
1
Construction
concrete block
Listing Agency:
Suzanne Moore Real Estate
Listed By:
Suzanne M Moore · License #3185298
(305) 797-0699
Source:
Bascomgrooms
Added: Oct 6
Changed: Oct 29
Last Checked: Oct 26 at 11:26AM
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 Suzanne Moore Real Estate
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Investment Insights
Based on property information with market context.
This 1,304-square-foot duplex contains 4 bedrooms and 2 bathrooms, with a kitchen and bathroom in each unit. Both kitchens and bathrooms have been updated. Concrete block construction dates to 1953, and the property sits on an oversized lot with room for vehicle, boat, trailer, and work-equipment parking or storage.
Located on Stock Island, the property is minutes from Key West dining, marinas, and amenities. The yard is open for outdoor use or storage, while the two-unit configuration supports occupancy in one unit and rental of the other.
Located on Stock Island, the property is minutes from Key West dining, marinas, and amenities. The yard is open for outdoor use or storage, while the two-unit configuration supports occupancy in one unit and rental of the other.
Key Highlights
- Duplex with 4 bedrooms and 2 bathrooms
- 1,304 square feet; built in 1953
- Concrete block construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,845
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,900
$436.9K
Cap Rate 7%
$312,071
$312.1K
Cap Rate 9%
$242,722
$242.7K
Market Conditions
NOI Build-Up for 1,304 SF
Gross rent
$33.3K $25.56/SF
− Vacancy
−$2.1K −$1.63/SF
EGI
$31.2K $23.93/SF
− OpEx
−$9.4K −$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 Rate 5%
$436,900
Cap Rate 7%
$312,071
Cap Rate 9%
$242,722
Alternative Uses
Best Use
Multifamily LT 5
$312.1K
$273.1K – $364.1K
NOI $21,845 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$289.1K
$252.9K – $337.3K
NOI $20,235 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$524.5K
$459.0K – $611.9K
NOI $36,716 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
Explore this area
Business Placement
Demographics for 33040, FL
35,958
Population
19,001
Households
1.9
Avg Household Size
44
Median Age
38%
College-Educated
92%
High-School Grad
17.7 sq mi
ZIP Area
2,032
Density / Sq Mi
$79,038
Median Household Income
$42,458
Median Earnings
$2,079
Median Rent
$766,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two kitchens and two bathrooms have been renovated, with a yard offering space for vehicle and equipment storage.
Where is this duplex located?
The property is located at 6415 2nd Terrace Stock Island, 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: Duplex with 4 bedrooms and 2 bathrooms; 1,304 square feet; built in 1953; Concrete block construction
