Three-Bedroom
For Sale
$579,999
1531 Paradise Ln 1529, Cocoa, FL 32922
Two residential units each currently provide three bedrooms and one bathroom, with a layout that may support additional bedrooms and baths.
Property Size2,191 SF
Price / SF$264.72
Days on Market268
Property Features for 1531 Paradise Ln 1529
General Information
Standard status
Active
Size
2,191 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
Bryan's R.E.& Int'l Consulting
Listed By:
Paul Bryan · License #3259840
(321) 305-3162
Source:
Viewfloridabeachhouses
Added: Jan 29
Changed: Oct 1
Last Checked: Oct 23 at 7:12AM
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 Bryan's R.E.& Int'l Consulting
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Investment Insights
Based on property information with market context.
This duplex in Cocoa, Florida, was constructed in 1962 and contains two residential units. Each unit is currently configured with three bedrooms and one bathroom. The existing layouts may be adapted to provide four bedrooms and two bathrooms per unit, subject to applicable approvals and construction requirements.
The property is located at 1529 and 1531 Paradise Ln in Cocoa, FL 32922. The seller is also marketing one triplex and two additional duplexes and is willing to consider a combined purchase of multiple properties. This creates an opportunity to evaluate the duplex independently or alongside the other offered residential assets.
The property is located at 1529 and 1531 Paradise Ln in Cocoa, FL 32922. The seller is also marketing one triplex and two additional duplexes and is willing to consider a combined purchase of multiple properties. This creates an opportunity to evaluate the duplex independently or alongside the other offered residential assets.
Key Highlights
- Two‑unit duplex at 1529 and 1531 Paradise Ln, Cocoa, FL 32922
- Each unit currently has 3 bedrooms and 1 bathroom
- Layouts may be converted to 4 bedrooms and 2 bathrooms per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,952
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,040
$499.0K
Cap Rate 7%
$356,457
$356.5K
Cap Rate 9%
$277,244
$277.2K
Market Conditions
NOI Build-Up for 2,191 SF
Gross rent
$38.1K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$35.6K $16.27/SF
− OpEx
−$10.7K −$4.88/SF
NOI
$25.0K $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%
$499,040
Cap Rate 7%
$356,457
Cap Rate 9%
$277,244
Alternative Uses
Best Use
Multifamily LT 5
$356.5K
$311.9K – $415.9K
NOI $24,952 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$320.4K
$280.4K – $373.8K
NOI $22,428 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$578.0K
$505.8K – $674.4K
NOI $40,463 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 32922, FL
15,923
Population
8,667
Households
1.8
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
2,949
Density / Sq Mi
$46,138
Median Household Income
$35,125
Median Earnings
$1,057
Median Rent
$176,100
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each currently provide three bedrooms and one bathroom, with a layout that may support additional bedrooms and baths.
Where is this duplex located?
The property is located at 1531 Paradise Ln 1529 Cocoa, FL.
What is the asking price?
The asking price for this property is $579,999.
What are key features of this property?
This property features: Two‑unit duplex at 1529 and 1531 Paradise Ln, Cocoa, FL 32922; Each unit currently has 3 bedrooms and 1 bathroom; Layouts may be converted to 4 bedrooms and 2 bathrooms per unit
