Updated Four-Unit
New
For Sale
$575,000
1516 Roger Dr, Titusville, FL 32780
The unit mix comprises three one-bedroom apartments and one two-bedroom residence.
Property Size2,298 SF
Price / SF$250.22
Days on Market6
Property Features for 1516 Roger Dr
General Information
Standard status
Active
Size
2,298 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,839
Amenities
on-site coin-operated laundry
covered front patio
Building Details
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
Keller Williams Space Coast
(321) 450-5600
Listed By:
Richard D Lemon · License #3220959
(321) 288-5506
Source:
Exprealty
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 9:34PM
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 Keller Williams Space Coast
Investment Insights
Based on property information with market context.
This single-story, concrete-block quadplex contains 2,298 square feet across four apartments: three with one bedroom and one bath, plus a two-bedroom, one-bath unit. Each apartment has a full kitchen, two ComfortStar mini-split A/C units and a tankless water heater. The property is fully occupied. Improvements include a metal roof, refreshed kitchens, replacement light fixtures and updated exterior paint. A covered patio runs along the front of the building, with concrete parking on site.
Residents have access to a coin-operated laundry facility. The property is near historic Downtown Titusville, Titus Landing, Playalinda Beach, Kennedy Space Center and Port Canaveral.
Residents have access to a coin-operated laundry facility. The property is near historic Downtown Titusville, Titus Landing, Playalinda Beach, Kennedy Space Center and Port Canaveral.
Key Highlights
- Four apartments totaling 2,298 square feet: three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- Fully occupied property with concrete‑block construction and single‑story layout
- Each apartment has a full kitchen, two ComfortStar mini‑split A/C units and a tankless water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,170
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,400
$523.4K
Cap Rate 7%
$373,857
$373.9K
Cap Rate 9%
$290,778
$290.8K
Market Conditions
NOI Build-Up for 2,298 SF
Gross rent
$40.0K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.4K $16.27/SF
− OpEx
−$11.2K −$4.88/SF
NOI
$26.2K $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 Rate 5%
$523,400
Cap Rate 7%
$373,857
Cap Rate 9%
$290,778
Alternative Uses
Best Use
Multifamily LT 5
$373.9K
$327.1K – $436.2K
NOI $26,170 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$336.1K
$294.1K – $392.1K
NOI $23,524 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$606.3K
$530.5K – $707.3K
NOI $42,439 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 32780, FL
39,525
Population
19,984
Households
2
Avg Household Size
48
Median Age
27%
College-Educated
92%
High-School Grad
68.1 sq mi
ZIP Area
580
Density / Sq Mi
$64,670
Median Household Income
$39,882
Median Earnings
$1,258
Median Rent
$250,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - The unit mix comprises three one-bedroom apartments and one two-bedroom residence.
Where is this quadplex located?
The property is located at 1516 Roger Dr Titusville, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four apartments totaling 2,298 square feet: three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; Fully occupied property with concrete‑block construction and single‑story layout; Each apartment has a full kitchen, two ComfortStar mini‑split A/C units and a tankless water heater
