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    625 E Washington St Monticello, FL 32344

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    Sponsored
    For Sale
    $674,900

    MULTI_FAMILY - Other - Monticello, FL

    Property size:
    4,500 SF
    Lot size:
    1.20 Acres
    Days on Market:
    36
    Last Refresh:
    Mar 28 at 2:06 pm

    Property Features for 625 E Washington St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 2
    Bedrooms
    4
    APN
    12065-00-00-00-0200-0000-0050
    Parking features
    Assigned
    Patio and Porch features
    Patio, Deck
    Interior features
    TrayCeilings, PrimarySuite, VaultedCeilings, WindowTreatments
    Exterior features
    Deck, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, RefrigeratorWithIceMaker
    Size
    4,500 SF
    Lot size
    1.20 Acres

    Utilities

    Heating system
    Central, Fireplace(s), Propane (Heating), Electric (Heating), Wood
    Cooling system
    Varies by Unit, Window Unit(s), Central Air, Electric, Ceiling Fan(s)

    Building Details

    Year built
    1888
    Floors in Building
    2
    Number of units
    11
    Flooring type
    Wood, Vinyl
    Building materials
    FiberCement, VinylSiding, WoodSiding
    Architectural style
    Other

    We can help!

    Listing Contact
    Lee Hall
    Lee Hall

    Capital City Real Estate Group

    Listing agent Lee Hall License #3438946

    Listing date Feb 20, 2026

    MLS# 395770

    Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Monticello Multi-Family Investment

    This multi-family property, constructed in 1888, offers an investment opportunity in downtown Monticello. The main house spans almost 4500 square feet and features 9 bedrooms and 7 bathrooms, along with common areas. The property is currently configured with tenants as a BNB-type setup with longer-term rentals. Improvements include a new roof installed in 2024, new HVAC in 2022, mini splits, a new kitchen and bathrooms in 2022, and two tankless hot water heaters. In addition to the main house, the property includes two additional houses: a 2-bedroom, 1-bathroom home and a 1-bedroom, 1-bathroom home. A separate oversized garage with a half bath and washer/dryer hookups is located behind the main house. Situated on a 1.2-acre lot in the heart of downtown, the property is within walking distance of Monticello's amenities. The property generates $11,000 a month gross when fully rented.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Jefferson
    State
    Florida
    Longitude
    -83.865745
    Latitude
    30.544851

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    FAQs

    What type of property is this?
    Apartment building - Historic Monticello home with additional rental properties and strong income.
    Where is this apartment building located?
    The property is located at 625 E Washington St Monticello, FL.
    What is the asking price?
    The asking price for this property is $674,900.
    What are key features of this property?
    This property features: - High income potential: Generates $11,000/month gross when fully rented.; - Multi-unit property: Includes a main house (9 bed, 7 bath) plus two additional houses (2 bed/1 bath and 1 bed/1 bath).; - Large lot in prime location: 1.2 acres in downtown Monticello, walkable to amenities.
    (850) 322-6723
    Request Owner's contact information
    625 E Washington St Monticello, FL 32344
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    Monticello, FL 32344
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    625 E Washington St Monticello, FL 32344
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    We can help!
    Listing Contact
    Lee Hall
    Lee Hall
    Real Estate License ID: 3438946
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