16 Rua Encosta Dos Magos B,

$1,590,000
Property Type: Residential Income Square Footage: 1,415 Status: Active
Current Price: $1,590,000 List Date: 5/11/2026 Last Modified: 9/17/2026

Overview

Description

Madeira's premier income-producing villa: legally ONE moradia (fração B) operated as 3 short-term suites — Crystal (€56,728/yr), Amber (€52,674/yr), Pearl (€56,497/yr) with rooftop outdoor kitchen + 360° ocean views. 2025 actuals: €165,899 / $194,102 gross at ~94% occupancy; €120,262 / $140,706 NOI = 7.07% cap rate at list. Modern 2023 build, Class B energy. Each suite: 1 BR / 1 BA, fully furnished, kitchenette, private terrace; reversible interior partitions. Total 3 BR / 3.5 BA / 1,415 sqft. Registered Alojamento Local RNAL #160289. Caniço, 8 km east of Funchal. ONE moradia, ONE AL license — three suites via reversible partitions. Operating statement in Documents (Private). International property; FIRPTA may apply.

Listing Details MLS# B26026997

General Property Information

Number Of Units Total
3
Property Sub Type
Triplex
Building Area Main
1415
Building Area Source
Owner
Living Area Main
1415
Living Area Source
Owner
Accessibility Features YN
No
Year Built
2023
Parking Total
Yes
Gated Community YN
No
Lot Size Area
3200
Lot Size Acres
0.07
Senior Community YN
No
Outdoor Living Spaces YN
Yes
Stories Total
3
Stories
3
Pool Private YN
No

Property Features

Documents Available: Other Exterior Features: Garden; Outdoor Kitchen; Private Rooftop Terrace Flooring: Ceramic Tile; Marble; Wood Foundation Details: Block Property Condition: Resale Special Listing Conditions: Standard Structure Type: Triplex Tenant Pays: None Construction Materials: Concrete; Stucco Cooling: Ceiling Fan(s); Central Air Heating: Zoned Listing Terms: Cash; Conventional Other Structures: Pergola Pets Allowed YN: No Possession: Negotiable Restrictions: No Restrictions Roof: Concrete Sewer: Public Sewer Tax Information: No Homestead; Tax Reflects No Exemptions Utilities: Cable Connected; Natural Gas Available; Water Not Available; None Water Source: Public Water View: Ocean Showing Requirements: 24 Hour Notice; Appointment Only; Showing Service Outdoor Living Spaces: Balcony; Patio; Terrace Balcony Details: Balcony - Open Patio Details: Patio - Open Unit 1 Appliances: Dishwasher; Disposal; Dryer; Microwave; Range; Refrigerator; Washer Unit 1 Other Equipment: Air Conditioning Unit; Smoke Detector(s); Window Coverings Unit 1 Parking Features: Automatic Garage Door Opener; Parking Space Unit 1 Rooms: Family Room; Kitchen; Laundry Room Unit 2 Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Unit 2 Other Equipment: Air Conditioning Unit; Smoke Detector(s); Window Coverings Unit 2 Parking Features: Automatic Garage Door Opener; Parking Space Unit 2 Rooms: Family Room; Kitchen Acreage Description: Less Than 1/4 Acre Lot; Less Than 1 Acre Lot

Contract Information

Comp Sale YN
No
Original List Price
1990000
Negotiable Seller Concessions YN
Yes
Listing Service
Full Service
Seller Represented YN
Yes

Location and Legal

Country
Portugal
County Or Parish
Other
County Parish Name
Santa Cruz
Street Number
16
Street Name
Rua Encosta Dos Magos
Unit Number
B
City Name
Caniço
Postal Zip
9125-216
Area
5990 - International
Geographic Area
Other
Special Assessment YN
No
Parcel Number
1943b
Zoning
Residential

Financial Information

Master Association YN
No
Tax Annual Amount
517
Tax Year
2025
Tax Legal Description
Fração autónoma B, prop. horizontal, CRP Santa Cruz nº 1943, Caniço. Lic. Util. 58/2023. Moradia T3, 3 suites, logradouro priv.

Status Change Information

Major Change Timestamp
2026-09-09T20:16:00Z
Major Change Type
Price Reduced
Price Change Timestamp
2026-09-09T20:16:00Z
Status Change Date
2026-05-11

More Information

Meter Information

Separate Electric Meters YN
No
Separate Gas Meters YN
No
Separate Water Meters YN
No

Income and Expenses

Annual Total Expense
53395
Gross Income
194102
Net Operating Income
140706

Unit 1 Details

Actual Rent
5136
Baths Full
Yes
Efficiency YN
No
Furnished
Furnished
Hotel Room YN
No
SqFt
472

Unit 1 Lease Description

Currently Leased YN
No

Unit 1 Parking Details

Carport YN
No
Garage YN
Yes
Attached Garage YN
Yes

Unit 2 Details

Actual Rent
5531
Baths Full
Yes
Efficiency YN
No
Furnished
Furnished
Hotel Room YN
No
SqFt
472

Unit 2 Lease Description

Currently Leased YN
No

Unit 2 Parking Details

Carport YN
No
Garage YN
Yes
Attached Garage YN
Yes

Unit 3 Details

Actual Rent
5508
Baths Full
Yes
Efficiency YN
No
Furnished
Furnished
Hotel Room YN
No
SqFt
472

Unit 3 Lease Description

Currently Leased YN
No

Price Calculations

Current Price To SqFt
1406.36

Originating Details

Originating System Key
20260502013206996721000000
Originating System ID
M00000170

Documents

IDX
Listing Office: LoKation
Last Updated: September - 17 - 2026
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