350 11th St

This well-maintained 2-bedroom, 3-bath half duplex is tailored for investors seeking a waterfront STR asset in the Florida Keys, with boating access and proximity to local amenities enhancing guest appeal. High-confidence underwriting projects strong monthly income and cash-on-cash returns, making it suitable for buyers prioritizing yield and lifestyle flexibility. The property’s dockage and garage add operational value for boating-focused guests. The primary caveat is the premium purchase price, which necessitates continued strong occupancy and ADR to meet return targets.

Key Colony Beach, FL is a well-established, high-demand waterfront market in the Florida Keys, attracting both vacationers and boating enthusiasts. The STR strategy is supported by strong projected ADR and occupancy, with the region’s tourism-driven economy and limited waterfront inventory underpinning rental demand. However, the market’s premium pricing and regulatory environment require careful diligence.

The property is situated in a desirable, amenity-rich waterfront community with strong guest appeal, particularly for those seeking boating, fishing, and outdoor recreation. The residential character and proximity to parks, restaurants, and leisure activities enhance its attractiveness for short-term renters. Conclusions about neighborhood-specific demand are high-confidence given the area’s established reputation, though ongoing competition and regulatory factors should be monitored.

At a $1,100,000 purchase price, underwriting projects a $685 ADR and 62% occupancy, resulting in an expected monthly income of $12,918 and cash flow of $4,184 after a 25% expense ratio and 20% down payment at 6.4% interest. The expected cash-on-cash return is 22.8%, driven by strong rental fundamentals and no management fee assumption. These figures are high-confidence but are sensitive to occupancy and ADR performance; investors should confirm assumptions and assess operational logistics for STR management.