1960 Highway 90 West

1960 Highway 90 West

Madison, FL 32340

$499,000
Price
20
Beds
14
Baths
9,564 Sq. Ft.
$52 / Sq. Ft.
9,564
Sq. Ft.
$52
per Sq. Ft.

Description

Calling all INVESTORS! These two turnkey INCOME-PRODUCING properties are just what you've been looking for to add to your portfolio! 1960 US 90 on 5 acres is home to THREE 2001 MFHs (3 units ea. = 9) and 1 large 1995 DSF LARGE ex-daycare building with 1 unit currently; however, this building can easily be split to have 3 units (has 3 bathrooms). 127 Meeting St. has a 1940 2-story home, with a first floor unit and a second floor unit. All together, there are 12 rented units with a total of 20 bedrooms...Calling all INVESTORS! These two turnkey INCOME-PRODUCING properties are just what you've been looking for to add to your portfolio! 1960 US 90 on 5 acres is home to THREE 2001 MFHs (3 units ea. = 9) and 1 large 1995 DSF LARGE ex-daycare building with 1 unit currently; however, this building can easily be split to have 3 units (has 3 bathrooms). 127 Meeting St. has a 1940 2-story home, with a first floor unit and a second floor unit. All together, there are 12 rented units with a total of 20 bedrooms (don't forget the potential of 2 additional units and more bedrooms) and 14 bathrooms. Some units have central heating and air and most have window units. While the seller does not have written agreements with tenants, with practically 100% occupancy rate, ALL units stay leased. When a unit becomes available, the seller is contacted immediately by potential tenants, and this is due to word of mouth. Tenants provide all their own appliances, greatly reducing seller's repair and maintenance costs. Seller/landlord has kept rental rates reasonable, which may contribute to lower maintenance costs. After operating expenses, seller nets about $4,450 per month. (Estimate of monthly expenses: $795 ins., $225 garbage, $30 well power, $100 yard maintenance, $500 CONSERVATIVE maintenance repair expenses, $500 taxes, for an approx. total of $2150. Monthly rental income is currently $6,600 with a potential to be $7,900 with 2 additional units. Seller does not wish tenants to know he is selling! Therefore, showings require an appointment, and this will be after you are under contract, have provided POF, and made a substantial deposit. Buyer chooses and pays for title. All information provided by seller.
  1. Listed by Kristi Basinger • RIGHT NOW! Real Estate

Property Details for 1960 Highway 90 West

Waterfront
No
Subdivision Name
[No Recorded Subdiv]
Zoning Description
Resid Multi-Family

Location

Listing Courtesy of RIGHT NOW! Real Estate
Add your commute
LISTING UPDATED: 04/23/2024 01:32 PM

Property Details for 1960 Highway 90 West

StatusActive
MLS #754118
Days on Market55
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential / Multi Family / Multi Family
Year Built2001
Lot Size5.14 AC / 223,898 SF
CountyMadison County

Location

Listing Courtesy of RIGHT NOW! Real Estate
Add your commute

Building Information for 1960 Highway 90 West

Stories-Residences-Year Built2001Building Size-Lot Size5.14 AC / 223,898 SF

Payment Calculator

$3,143 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,723

Property Taxes

$420

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1960 Highway 90 West

Summary
Location and General Information
  • City: Madison
  • County Or Parish: Madison
  • Directions: From I-10, take Exit 251, Route 14 in Madison for about 1/2 mile. Next go N on Route 360A (aka Martin Luther King Dr.) for approx. 4 mi. Go W on SR 90 for about 2 mi. Property is on the north side of SR 90, near Mystic Lake. Directions from this to the 2nd property: Go E on SR 90 (aka called Base St.) for about 2.5 miles. Turn R on S. Meeting St. Property is on the east side of Meeting St.
  • Postal Code: 32340
  • Latitude: 30.479918
  • Longitude: -83.443111
  • State Or Province: FL
  • Road Frontage Type: Highway
  • MLS Area Major: 11 - Other Counties
  • MLS Area Minor: 1101 - Other
Taxes and HOA Information
  • Parcel Number: 17-1N-09-3571-002-001
  • Association: No
  • Tax Legal Description: BEG AT SE COR OF NE4 OF SW4 RUN E 709' S 511' W 436' TO POB THEN RUN S 995' W 226' N 974' E 225' TO POB OR 599 PG 325 OR 827 PG 285 OR 1189 PG 163 OR 1292 PG 8 and BEG AT SW COR OF BLK 58 RUN N 70' TO POB THEN CONT N 45'E 31' S 45' W 36' TO POB OR 708/107 OR 1298/55
School Information
  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other
Parking
  • Garage: No
Property
Lot Information
  • Lot Size Acres: 5.14
  • Lot Size Dimensions: irregular
  • Lot Size Square Feet: 223898.0
  • Living Area: 9564.0
  • Living Area Source: Appraiser
Property and Assessments
  • Year Built: 2001
  • Human Modified: No
Utilities
  • Sewer: Septic Tank
  • Utilities: Septic Available, Water Available
  • Water Source: Well
Interior and Exterior Features
Interior Features
  • Bathrooms Full: 14
  • Bathrooms Total: 14
  • Bedrooms Total: 20
  • Cooling: Yes
  • Cooling: Central Air, Electric, Window Units
  • Furnished: Unfurnished
Room Information
Room 1
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 2
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 3
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 4
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 5
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 6
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 7
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 8
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 9
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 10
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 11
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 12
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 13
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 14
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 15
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 16
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 17
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 18
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 19
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Room 20
  • Room Area: 1.0
  • Room Description: Varies slightly by unit
  • Room Dimensions: 1 x 1
  • Room Length: 1.0
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 1.0
Rental
Rental Information
  • Occupant Type: Occupied
  • Lease Term: Month To Month

Property History for 1960 Highway 90 West

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1960 Highway 90 West

Taxable ValueLand$24,892Additions$280,252Total$305,144
Tax Record2023$5,043 ($420 / month)
Home Facts
Total Finished SqFt2,218 SqFtAbove Grade Finished SqFt2,218 SqFtStories1Lot Size221,285 SqFtStyleMulti-Family Dwelling (2-4)Year Built1995CountyMADISONAPN17-1N-09-3571-002-001

Schools near 1960 Highway 90 West

This home is within Madison.
Rating
School
Type
Grades
Distance
Madison County Central School
Public - PK to 8
Madison County High School
Public - 9 to 12
Madison Creative Arts Academy Inc
Charter - K to 8
Madison County Excel Alternative School
Public - 6 to 12
Rating
School
Distance
Madison County Central School
PublicPK to 8

Madison County High School
Public9 to 12

Madison Creative Arts Academy Inc
CharterK to 8

Madison County Excel Alternative School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

Homes for Sale near 32340

Neighborhoods

Cities

ZIPs

More information about 1960 Highway 90 West, Madison, FL 32340

1960 Highway 90 West is a multi-family home for sale in Madison, FL 32340. This property was listed for sale on March 12, 2024 by RIGHT NOW! Real Estate, it's currently listed at $499,000. It has been on the market for a total of 55 days and was last sold on October 5, 2018. This listing's school district is Madison. Nearby schools include Madison County Central School, Madison County High School and Madison Creative Arts Academy Inc. 1960 Highway 90 West is a 20-bed, 14-bath, 9,564 sqft multi-family home built in 2001.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RIGHT NOW! Real Estate

The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Information deemed reliable but not guaranteed. Copyright© 2024 Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. All Rights Reserved.