Historic Four-Unit
For Sale
$600,000
658 Young Street, Melbourne, FL 32935
Residential Income, Melbourne, FL
Property Size3,144 SF
Lot Size0.11 Acres
Price / SF$190.84
Days on Market142
Property Features for 658 Young Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking
8
Parking features
Parking Lot, Guest, Driveway, Assigned
Exterior features
Balcony
Fireplace
1
Appliances
Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Tankless Water Heater, Washer/Dryer Stacked
Subdivision
Snells S/D of Lot 25 Houstons Add To Eau Gallie
Lot features
Historic Area
Middle school
Johnson
Directions
US 1 South of Eau Gallie causeway to Young Street
Standard status
Active
APN
27-37-21-05-00000.0-0007.00
Size
3,144 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SNELLS S/D OF LOT 25 HOUSTONS ADD TO EAU GALLIE LOT 7
Tax Annual Amount
7094
Legal Description
SNELLS S/D OF LOT 25 HOUSTONS ADD TO EAU GALLIE LOT 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Varies by Unit (Heating)
Cooling system
Multi Units
Water source
Public
Amenities
stackable washer/dryers
Building Details
Year built
1926
Floors in Building
2
Number of units
4
Flooring type
Laminate
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
Space Coast Realty & Inv. LLC
(321) 783-5000
Listed By:
Donna A Gianotti-Kelley
(321) 806-6362
Added: May 1
Changed: Sep 13
Last Checked: Sep 19 at 12:06PM
MLS# 1076310
Copyright © 2026 Space Coast Association 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.
Investment Insights
Based on property information with market context.
Built in 1926, this 3,144-square-foot quadplex contains four one-bedroom, one-bath residences on a 0.11-acre parcel. Each unit includes living and dining areas, a full kitchen, a bonus room, two ductless wall-mounted mini-split systems, and a stacked washer and dryer. Remodeled interiors retain historic character while adding updated plumbing, some electrical improvements, tankless water heaters, impact windows in most areas, and a 2022 shingle roof. The property also offers assigned and guest parking, driveway and lot parking, a balcony, public water, and public sewer.
Located on Young Street in Melbourne’s Eau Gallie Arts District, the property is near Eau Gallie Marina, shops, restaurants, and nightlife, with access to US-1 and the beach. Unit finishes include laminate flooring, frame and stucco construction, and varied heating by unit.
Located on Young Street in Melbourne’s Eau Gallie Arts District, the property is near Eau Gallie Marina, shops, restaurants, and nightlife, with access to US-1 and the beach. Unit finishes include laminate flooring, frame and stucco construction, and varied heating by unit.
Key Highlights
- Four‑unit property with four 1BR/1BA residences
- 3,144 SF quadplex on a 0.11‑acre parcel
- Each unit includes a bonus room, full kitchen, mini‑split systems, and stacked washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,805
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,100
$716.1K
Cap Rate 7%
$511,500
$511.5K
Cap Rate 9%
$397,833
$397.8K
Market Conditions
NOI Build-Up for 3,144 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$51.1K $16.27/SF
− OpEx
−$15.3K −$4.88/SF
NOI
$35.8K $11.39/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,100
Cap Rate 7%
$511,500
Cap Rate 9%
$397,833
Alternative Uses
Best Use
Multifamily LT 5
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$459.8K
$402.3K – $536.4K
NOI $32,184 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$829.5K
$725.8K – $967.7K
NOI $58,063 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled multifamily property with individual kitchens, bonus rooms, mini-split systems, and stacked laundry in every residence.
Where is this quadplex located?
The property is located at 658 Young Street Melbourne, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four‑unit property with four 1BR/1BA residences; 3,144 SF quadplex on a 0.11‑acre parcel; Each unit includes a bonus room, full kitchen, mini‑split systems, and stacked washer/dryer
