Duplex with Updated
New
For Sale
$199,000
6769 Madison St, Milton, FL 32570
Residential Income, Milton, FL
Property Size2,226 SF
Price / SF$89.40
Days on Market1
Property Features for 6769 Madison St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Town Of Milton
Lot features
Central Access
Elementary school
W. H. Rhodes
Middle school
KING
High school
Milton
Directions
from Hwy 90 go north on Stewart st (Hwy 87) take a right on Madison st. Home is down on the right.
Special listing conditions
Third Party Approval
Standard status
Active
APN
031N282530079000080
Size
2,226 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
TOWN OF MILTON W 1/2 OF LTS 8 9 10 BLK 79 & E 12.5 FT OF N 300 FT OF 25 FT VAC ALLEY WAY ADJACENT TO LTS 8 9 & 10 BLK 79 AS DES IN OR 503 PG 311, OR 1613 PG 1404 & OR 2440 PG 713 & OR 2450 PG 310 & OR 2848 PG 2053 LESS OR 2513 PG 738 (NOW 8.1)
Legal Description
TOWN OF MILTON W 1/2 OF LTS 8 9 10 BLK 79 & E 12.5 FT OF N 300 FT OF 25 FT VAC ALLEY WAY ADJACENT TO LTS 8 9 & 10 BLK 79 AS DES IN OR 503 PG 311, OR 1613 PG 1404 & OR 2440 PG 713 & OR 2450 PG 310 & OR 2848 PG 2053 LESS OR 2513 PG 738 (NOW 8.1)
Utilities
Heating system
Central
Building Details
Year built
1920
Number of units
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
Ridings Realty Gulf coast · Keller Williams Realty
(251) 461-6972
Listed By:
Damon Hitt
(251) 518-4919
Added: Oct 30
Last Checked: Oct 30 at 6:06PM
MLS# 690664
Copyright © 2026 Pensacola Association 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.
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Investment Insights
Based on property information with market context.
Built in 1920, this 2,226-square-foot frame duplex contains two 2-bedroom, 1-bathroom units. One unit is occupied by a long-term tenant; the other has been updated and is vacant. Recent work includes the roof and both HVAC systems. The property has central heating and a shingle roof.
Key Highlights
- 2,226‑square‑foot duplex built in 1920
- Two 2‑bedroom, 1‑bathroom units
- One unit occupied by a long‑term tenant; the second is vacant and updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,953
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,060
$359.1K
Cap Rate 7%
$256,471
$256.5K
Cap Rate 9%
$199,478
$199.5K
Market Conditions
NOI Build-Up for 2,226 SF
Gross rent
$34.7K $15.60/SF
− Vacancy
−$2.1K −$0.94/SF
EGI
$32.6K $14.66/SF
− OpEx
−$14.7K −$6.60/SF
NOI
$18.0K $8.07/SF
Area
Santa Rosa County, FL
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,060
Cap Rate 7%
$256,471
Cap Rate 9%
$199,478
Alternative Uses
Best Use
Multifamily LT 5
$291.2K
$254.8K – $339.8K
NOI $20,385 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$256.5K
$224.4K – $299.2K
NOI $17,953 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$548.1K
$479.6K – $639.5K
NOI $38,369 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
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Business Placement
Demographics for 32570, FL
33,144
Population
15,387
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
301.1 sq mi
ZIP Area
110
Density / Sq Mi
$73,615
Median Household Income
$38,394
Median Earnings
$1,233
Median Rent
$240,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied by a long-term tenant, while the second is vacant and recently refreshed.
Where is this duplex located?
The property is located at 6769 Madison St Milton, FL.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,226‑square‑foot duplex built in 1920; Two 2‑bedroom, 1‑bathroom units; One unit occupied by a long‑term tenant; the second is vacant and updated
