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 Market250
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 4 at 9:56AM
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 = 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
$24,952
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
4.30%
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%
$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
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
$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 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%
$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
