WorkspaceDiscoverMultifamily · Key Largo · Monroe County
1030 Snapper Ln, Key Largo
Full duplex in Key Largo with two one-bedroom units. The asking price fell $90,000 to $659,000 on October 7; current rent and occupancy remain unquantified.
Recorded status: Broker page reported active; recheck availability. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 6.7% Estimate · rent potential ÷ asking price
- Asking price
- $659,000
Rent potential · Estimate: $3,680/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- $12,768 Before debt and capital reserves
- Estimated cap rate
- 1.9% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- $954 All cash · after reserves
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | $3,680 | HUD-based planning rent |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 2% | Matches planning allowance |
| Annual insurance | $5,640 | Matches planning allowance |
| Annual owner-paid utilities | $2,400 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $1,200 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
Two 1 bed / 1 bath units; current tenancy and rent have not been published.
- Reported units
- 2
- Reported listing area
- 936 sq ft
- Asking / reported sq ft
- $704
- Historical property tax / year
- $4,624
Historical tax is the seller’s bill; buyer taxes can change.
Why we’re tracking it
The $90,000 price reduction makes the two-unit offering worth a fresh rent-and-cost comparison. A lower price alone does not establish an attractive return.
$749,000 → $659,000 · down $90,000 (12.0%)Our price observations: Sep 26, 2026 → Oct 9, 2026.
Two 1 bed / 1 bath units; current tenancy and rent have not been published.
A full duplex with two one-bedroom apartments in Key Largo. The source records a reduction from $749,000 to $659,000 on October 7. Current rents and occupancy are not quantified.
Confirm the two lawful units, possession terms and local rental restrictions before estimating income.
Listed by LoKation Real Estate · observed Oct 9, 2026Read the full agent description at 9 Oct review ↗Broker info & key considerations To confirm
Price reduction · income needs review
Obtain current leases or rental comparables, insurance quotes and a buyer tax estimate.
- Investment potential is advertised, but current rent and occupancy are unquantified.
- The listing notes rental restrictions; verify zoning, minimum stays and required licenses.
- Listing availability, legal units, lease collections and operating costs require independent confirmation.
Source evidence and diligence
Financial figures observed Oct 9, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Displayed whole-property scheduled rent × 12 divided by source asking price, not your saved offer. HUD-based planning rent: FY2027 HUD FMR for Monroe County, FL (NCNTY12087N12087), effective October 1, 2026. Documented bedrooms per offered unit: 1, 1. Published gross housing benchmark $3,980/month includes major utilities, excluding phone, cable/satellite TV and internet. Subtract $300/month ($150/unit) for assumed tenant-paid electricity; remaining owner-paid services use the separate displayed utility budget. This electricity amount is editable budgeting policy, not a verified allowance or conservative bound. Replace scheduled rent and utility inputs with leases, payer terms and local bills. The adjusted $3,680/month is a full-occupancy scenario, not a rental appraisal, lease offer, subsidy payment standard or eligibility decision. Full-occupancy potential before vacancy, operating costs, financing and income tax; not current collections, cap rate or cash return.
Sources
- 9 Oct review · Compass / MLS 621389 · asking price reduced 7 OctSource observation · Oct 9, 2026
- Compass · LoKation Real Estate · MLS 621389Source observation · Sep 25, 2026
Questions to resolve
- Obtain executed leases, tenant estoppels, deposit accounting and collection history.
- Reconcile the offered units, address and living area with title, permits and occupancy records.
- Obtain trailing expenses, buyer tax estimates and property-specific insurance quotes.
Similar properties
- 978 Gibraltar Rd, Key Largo: 2-unit multifamily, asking $680,000
- 285 66th St #A & B, Marathon: 2-unit multifamily, asking $750,000
- 10833 2nd Avenue Gulf, Marathon: 3-unit multifamily, asking $898,000
Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods