Investing in this home...
John's Pass Village and madeira Beach are already one of the Gulf Coast's premier attractions and Madeira Beach is currently in an expansion phase... there are multiple large scale developments that are sure to make Madeira Beach an even better place to live as well as are sure to improving property values.
Current projects include a complete redevelopment near 150th avenue creating another "downtown" area and commercial hub for the town. With all of this development prices for homes in the area are expected to continue to rise in the next few years.
This area Is incredibly livable with an endless amount of activities and any environment that you could wish for nearby from the wilderness of the open ocean to deserted beaches and islands to bustling downtown areas of major cities.
As an investment property; this home is capable of generating significant income:
Huge demand for rental properties in this area mean that rents continue to increase in this area. The smaller 516 side (about 1400 square foot and 3 bedroom/2 bath) when rented has recently been getting $1,900 per month with high quality long term renters applying for leases.
The larger 518 side (2100 square feet, 3 bedroom, 2 bath and home office with separate entrance) has been getting $2,600.
The boat slips, as they are now, get $250 in rent but I have been offered $750 for the left side slip from a catamaran owner if I were to reposition the tie poles for him; I turned him down as I was planning on selling it and wanted the slip vacant but a new owner could choose to do so and gain a near 100% return on investment in a month. Dockage for catamarans and trimarans are always quite scarce. My desire to own a large sailing multihull was one of the reasons that I bought this house; but then i caught the fishing and spearfishing bug and never got around to it.
Currently that means that the property has at least $5,000 in
monthly income and potentially even more.
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