Residential
New
For Sale
Under Contract
$199,900
1168 SCHUMANN DRIVE, Sebastian, FL 32958
MULTI_FAMILY - SEBASTIAN, FL
Property Size1,560 SF
Price / SF$128.14
Days on Market2
Property Features for 1168 SCHUMANN DRIVE
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Subdivision
Sebastian Highlands
Standard status
Active Under Contract
Size
1,560 SF
Building Details
Year built
1985
Listing Agency:
Coldwell Banker Paradise - Sebastian · Coldwell Banker Real Estate
(772) 589-7777
Listed By:
Joe Beaudoin
Added: Aug 10
Last Checked: Aug 11 at 5:06PM
MLS# 230800
Copyright © 2026 Coldwell Banker Schmidt 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.
This two-unit residential property contains 1,560 square feet and was constructed in 1985. The asset is located at 1168 Schumann Drive in Sebastian, within Indian River County, Florida.
Key Highlights
- Duplex configuration with two residential units
- 1,560 square feet of building area
- Constructed in 1985
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
$17,766
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
8.89%
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%
$355,320
$355.3K
Cap Rate 7%
$253,800
$253.8K
Cap Rate 9%
$197,400
$197.4K
Market Conditions
NOI Build-Up for 1,560 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
$27.1K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$25.4K $16.27/SF
− OpEx
−$7.6K −$4.88/SF
NOI
$17.8K $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%
$355,320
Cap Rate 7%
$253,800
Cap Rate 9%
$197,400
Alternative Uses
Best Use
Multifamily LT 5
$253.8K
$222.1K – $296.1K
NOI $17,766 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$228.1K
$199.6K – $266.2K
NOI $15,969 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$411.6K
$360.1K – $480.2K
NOI $28,810 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 32958, FL
28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
Median Home Value
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 - Two-unit property at 1168 Schumann Drive in Sebastian, Florida.
Where is this duplex located?
The property is located at 1168 SCHUMANN DRIVE Sebastian, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Duplex configuration with two residential units; 1,560 square feet of building area; Constructed in 1985
