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Multifamily · Key Largo · Monroe County

978 Gibraltar Rd, Key Largo

Key Largo duplex with $2,200 monthly rent reported for each unit ($4,400 combined). The broker publishes 3,794 square feet; reconcile that measurement with official records.

Recorded status: Broker page reported active; recheck availability. Checked: .

Dated listing record · recheck availability and legal unit count.

Reported gross yield
7.8%
Rent ÷ asking price
Asking price
$680,000

Monthly rent · Reported: $4,400/mo

Estimated annual NOI
$12,699
Before debt and capital reserves
Estimated cap rate
1.9%
Modeled NOI ÷ purchase price
Est. cash flow / mo
$926
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

InputValueBasis
Total scheduled rent per month$4,400Matches source observation
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$12,408Matches planning allowance
Annual owner-paid utilities$2,400Matches planning allowance
Monthly HOA or condo fees$100Matches planning allowance
Other annual operating expenses$1,200Matches 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 2-bedroom / 1-bath units, each reported at $2,200 per month. First-unit lease through September 30, 2027; second through December 31, 2026, according to the listing.

Reported units
2
Reported listing area
3,794 sq ft
Asking / reported sq ft
$179
Rent / year
$52,800
Historical property tax / year
$4,605

Historical tax is the seller’s bill; buyer taxes can change.

Broker info & key considerations To confirm
  • The first-unit lease is now reported through September 30, 2027; the second ends December 31, 2026. Confirm both executed leases, renewal terms and collections. The advertised 6.2% cap rate is unsupported by itemized operating expenses and is not adopted as verified NOI.
  • The reported area is unusually large for the published price; verify living area before relying on price per square foot.
  • Listing availability, legal units, lease collections and operating costs require independent confirmation.
Source evidence and diligence

Financial figures observed Oct 14, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.

Gross rental yield basis

Source-reported as of Oct 14, 2026 whole-property annual base rent divided by asking price, before vacancy, expenses and financing. Freshness is unverified. This is not cap rate or a guaranteed return. Excludes separate fees and membership income.

Sources

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.
How siEarn separates facts, estimates and unknowns

Similar properties

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