Duplex with Separate Utility
For Sale
$579,999
1531 Paradise Ln 1529, Cocoa, FL 32922
Two vacant residences offer a clear starting point for renovation and future rental use.
Property Size2,191 SF
Price / SF$264.72
Days on Market251
Property Features for 1531 Paradise Ln 1529
General Information
Standard status
Active
Size
2,191 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
renovate, reposition
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
central air
Building Details
Year Built
1962
Buildings
1
Construction
block and stucco
Listing Agency:
Bryan's R.E.& Int'l Consulting
Listed By:
Paul Bryan · License #3259840
(321) 305-3162
Source:
Viewfloridabeachhouses
Added: Jan 28
Changed: Oct 4
Last Checked: Oct 5 at 7:27PM
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
Investment Insights
Based on property information with market context.
This duplex contains 2,191 square feet in a block-and-stucco building constructed in 1962. Each of the two units is approximately 1,096 square feet and is configured with three bedrooms and one bathroom. Both residences are vacant. Central air serves the property, and four parking spaces are provided.
Separate electric and water meters serve the units, with public water available. The property has Multi Family zoning. Any changes to the existing interior configuration or expansion would require independent review by the appropriate authorities and licensed professionals.
Separate electric and water meters serve the units, with public water available. The property has Multi Family zoning. Any changes to the existing interior configuration or expansion would require independent review by the appropriate authorities and licensed professionals.
Key Highlights
- 2,191‑square‑foot duplex built in 1962
- Two units of approximately 1,096 square feet each
- Both units vacant; each has 3 bedrooms and 1 bathroom
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.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer a clear starting point for renovation and future rental use.
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: 2,191‑square‑foot duplex built in 1962; Two units of approximately 1,096 square feet each; Both units vacant; each has 3 bedrooms and 1 bathroom
