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$506,900

For Sale - Active
13434 1st St E, Madeira Beach, FL 33708
Beds n/a
0 Baths
1,352 Square Feet
0.09 Acres Lot
Built in 1960
For Sale - Active
2 Units
Checked: 16 hours ago
Updated: Jul 11, 2025 at 03:46AM

Investment Summary


Monthly Cash Flow
-$1,876
Cap Rate
1.7%
Cash-on-Cash Return
-19.3%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-14.7%

Property Description


0.09 Acres Lot
Built in 1960
For Sale - Active
2 Units

Prime location just steps from the sand—this 4 bed, 2 bath duplex sits in the heart of Madeira Beach, surrounded by thriving short-term rentals. Demo’d post-Hurricane Milton, it's a blank canvas ready for your vision. Each unit offers 2 bedrooms, 1 bath, plus covered parking and private storage—a rare find this close to the beach. New roof in 2024. County water/sewer in place. No HOA. No flood elevation requirement per FEMA—huge savings for your renovation budget. Zoned R-2 with a 3-month minimum lease, this property gives you flexibility to rent both units, live in one and rent the other, or renovate and resell. Cash or hard money only—bring your contractor and your checkbook.

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Location


Property Details


Parking

  • Description: Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Concrete Block
  • Foundation: Concrete Perimeter
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 153115583200100160
  • Lot Size: 4060 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1960

Tax Information

  • Annual Tax: $7,907

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Pinellas

Listing Details


Listed by:
Irina McKay
MCKAY MANAGEMENT & REALTY
(815) 483-5052

Source:
Stellar MLS
MLS#: A4656281
Stellar MLS

Investment Summary


Monthly Cash Flow
-$1,876
Cap Rate
1.7%
Cash-on-Cash Return
-19.3%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-14.7%

Purchase Details

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Purchase price:
$506,900
Amount financed:
-$405,520
Down payment:
$101,380
Closing costs:
$15,207
Rehab costs:
$0
Initial cash invested:
$116,587
Square feet:
1,352
Cost per square foot:
$375
Monthly rent per square foot:
$1.48

Financing Details

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Loan amount:
$405,520
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,597
Property tax:
$659
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,396

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (33%)
33%-$659-$7,907
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (58%)
58%-$1,159-$13,907

Cash Flow


Monthly Yearly
Net operating income:
$721 $8,652
Mortgage payments:
-$2,597 -$31,164
Cash flow:
$1,876 $22,512