$649,000

Turnkey Freeport duplex with both units currently leased, strong rental history, and a potentially assumable VA loan at 5.99%, subject to lender approval and buyer qualification. 182 Madison Street includes Units A and B together on one parcel, offering two mirrored townhome-style residences in a convenient Freeport location. Built in… Read More 2023, each unit features 3 bedrooms, 2.5 baths, an open-concept living and kitchen area, kitchen island, stainless-steel appliances, LVP flooring, generous storage, and an attached one-car garage. Both sides are currently occupied by long-term tenants, and the property has historically stayed rented with cash pay long term tenants. Rent rolls are available to qualified buyers. This is an excellent opportunity for an investor seeking a newer, income-producing property with established tenancy and the flexibility of two separate residences under one ownership. Photos shown are of Unit B; Unit A is substantially identical in finishes and layout, but mirrored. Property may also offer potential for short-term or furnished rental use. Positioned in an area poised for additional growth, with a potential 27-unit development directly behind the property--an investment that could further strengthen the surrounding area and support future property values. 182 Madison Street presents a unique opportunity to acquire both sides of a newer duplex together as one investment property. Units A and B feature mirrored floor plans and are currently operated as long-term rentals, providing immediate income without the need to locate tenants after closing. Each residence offers three bedrooms, two and one-half bathrooms, an attached one-car garage, and a modern open-concept layout designed for comfortable everyday living. Interior features include luxury vinyl plank flooring, stainless-steel appliances, kitchen islands, ample cabinetry and storage, and spacious living areas. The property has demonstrated strong rental performance, with historical gross rental income reaching approximately $60,000 annually. Both units are currently leased, and rent rolls and additional rental information are available for review by qualified buyers. An additional potential benefit is the existing VA loan carrying a 5.99% interest rate, which may be assumable by a qualified buyer subject to approval by the lender/loan servicer and applicable VA requirements. Buyers should independently verify assumption eligibility, remaining loan balance, required equity or cash contribution, and all financing terms. Located in Freeport with convenient access to Highway 20, schools, shopping, dining, and South Walton, the property is positioned in one of Walton County's growing residential areas while remaining within convenient reach of the beaches and communities along the Emerald Coast. Property is being sold as a single duplex consisting of Units A and B on one parcel. Photos shown are primarily of Unit B. Unit A is substantially identical in design and finishes but features a mirrored floor plan. Tenant occupancy should be considered when scheduling showings. Read Less

Courtesy of Christopher W Rowland, Florida Homes Realty & Mortgage Limited Liability Company.

Listing Snapshot

Days Online

Last Updated

Sep 8, 2026

Property Type

Duplex

Beds

Full Baths

Partial Baths

Year Built

2023

MLS Number

1010280

Additional Details

Appliances & Equipment

Auto Garage Door Opn, Dishwasher, Freezer, Microwave, Oven Self Cleaning, Refrigerator, Refrigerator W/IceMk, Smoke Detector, Stove/Oven Electric, Water Heater - Elect

Building

Built in 2023, Construction Materials: Frame, Roof Pitched

Community

Short Term Rental - Allowed, Pets Allowed

Cooling

Ceiling Fans, Central Air

Floors

Floor Vinyl

Foundation

Slab

Garage

1 spaces

Heating

Central

Interior Features

Kitchen Island, Lighting Recessed, Pantry, Shelving, Washer/Dryer Hookup

Parking

5 total parking spaces, Garage

Property

Construction Complete

Sewer

Public Sewer

Taxes

Parcel Number: 15-1S-19-23040-006-0072, Legal Description: COM NE/C OF LOT 8 BLK 6 STEVENS PLAT OF SAID TOWN OF FREEPORT, ALG W MARGIN OF MADISON ST (50.00FT ROW), FROM SAID POB N 01 DEG 15'50''E ALG W ROW LINE OF MADISON ST 21.02FT TO POB; N 83 DEG 05'34''W 101.37FT, N 06 DEG 31'36''E 95.51FT, S 88 DEG 38'39''E 92.12FT, S 01 DEG 15'50''W 104.95FT. LYING IN SEC 15-1S-19W. OR 3303-3057, Year: 2025, Zoning: Resid Multi-Family

Utilities

Electric, Public Water, Tap Fee Paid

Windows

Window Treatmnt None

Find The Perfect Home

'VIP' Listing Search

Whenever a listing hits the market that matches your criteria you will be immediately notified.

Join The List

Source: Home Junction

Mortgage Calculator

Selling price

Down payment

Term (years)

Interest rate (%)

Monthly Payment

Call: 205-206-4334

Buyers

Sellers

Featured Areas

Properties

About

Contact us

182 Madison Street A & B

'VIP' Listing Search

Schools In The Area

Similar Listings

Find My Dream Home

1. Neighborhoods

2. Home Type

3. Send

Website Navigation

Community Guides