Two-Unit Duplex with RV
For Sale
$705,000
101-411 Dove Ave, Rockledge, FL
Residential Mixed Use zoning accompanies two furnished-with-kitchen apartments and substantial garage and storage space.
Property Size1,840 SF
Price / SF$383.15
Days on Market17
Property Features for 101-411 Dove Ave
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Residential Income
Zoning
Residential Mixed Use
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,341
Amenities
laundry
Building Details
Construction
CBS
Listing Agency:
Blue Marlin Real Estate
(321) 877-2902
Listed By:
Christina Riordan · License #3528527
(321) 503-5004
Source:
Exprealty
Added: Sep 17
Changed: Oct 1
Last Checked: Oct 2 at 11:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Blue Marlin Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two matching apartments, each with one bedroom, one bathroom, a full kitchen, living space, and laundry. Each unit also has an oversized RV garage, with air conditioning in one garage. The buildings feature insulated CBS construction and fire-rated walls and doors, and the property has a new roof. A large paver area provides four additional parking spaces.
The property is zoned Residential Mixed Use and is currently producing income. Access to I-95, Barton Boulevard, and US-1 is described as quick.
The property is zoned Residential Mixed Use and is currently producing income. Access to I-95, Barton Boulevard, and US-1 is described as quick.
Key Highlights
- Two matching 1BR/1BA units, each with a full kitchen, living area, and laundry
- Oversized RV garages and substantial storage; one garage has A/C
- Residential Mixed Use zoning
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
$21,349
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
3.03%
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%
$426,980
$427.0K
Cap Rate 7%
$304,986
$305.0K
Cap Rate 9%
$237,211
$237.2K
Market Conditions
NOI Build-Up for 1,840 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
$37.5K $20.40/SF
− Vacancy
−$3.4K −$1.84/SF
EGI
$34.2K $18.56/SF
− OpEx
−$12.8K −$6.96/SF
NOI
$21.3K $11.60/SF
Area
Brevard County, FL
Vacancy
9.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$426,980
Cap Rate 7%
$304,986
Cap Rate 9%
$237,211
Alternative Uses
Best Use
Mixed Use
$305.0K
$266.9K – $355.8K
NOI $21,349 @ 7.0% cap · market cap 3.03%
Second Best
Multifamily LT 5
$299.3K
$261.9K – $349.2K
NOI $20,954 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$485.4K
$424.8K – $566.4K
NOI $33,981 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Residential Mixed Use zoning accompanies two furnished-with-kitchen apartments and substantial garage and storage space.
Where is this duplex located?
The property is located at 101-411 Dove Ave Rockledge, FL.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Two matching 1BR/1BA units, each with a full kitchen, living area, and laundry; Oversized RV garages and substantial storage; one garage has A/C; Residential Mixed Use zoning
