Treasure Island Florida Real Estate
Treasure Island is a beautiful little beach town in Tampabay Florida. We have about 7500 locals and depending on the time of the year, a couple of thousand tourists. Therefore Treasure Island Florida Real Estate should really be split into two categories, homesteaded properties where people actually live year around and investment properties, second homes, vacation homes. For today, let’s focus on the second group, buyers from out of town that are looking for a condo or home on the water, intracoastal or beach.
Right now you can buy a one bedroom one bath about 400 plus square feet condo on the beach for about $120,000. Or a 2 bedroom 2 bath round about 1000 square feet on the Gulf of Mexico for $300,000 and up. Both of these condos can generate a substantial amount of rental income and that helps to offset the expenses. Treasure Island Florida Real Estate will cost you some money to maintain during the year. Taxes, monthly maintenance fees, electric etc all these items can add up. Just to give you an idea, for a 2/2 condo on the beach that you paid $300,000 for, you have to calculate about $13,000 to $15,000 per year. So, if you could get this amount as income from renting your condo, it would really make a lot of sense when you are thinking investment.
As a buyer of Treasure Island Florida Real Estate as an investment property or second home, you need to watch out for a few things. One of them is the rental restrictions. Every condo association here in Treasure Island has a different rental policy and therefore you can generate a different rental income. The best is probably a 7 day minimum, meaning you can rent as many times per year as you want to as long as each rental period is at least 7 days. If you get into rental restrictions that say 3 month minimum or 6 months or even only yearly rentals are allowed, you can easily see that it will be very difficult to generate enough rental income to offset your expenses.