Spacious Duplex in Melbourne,
1778 Stewart Place, Melbourne, FL 32935
New
MULTI_FAMILY - Melbourne, FL
Property size:
2,658 SFLot size:
0.18 AcresPrice / SF:
$178/SF- Added:
- May 13, 2026
- Days on Market:
- 6
- Last Refresh:
- May 18 at 1:06 am
Property Features for 1778 Stewart Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 2
- Parking features
- On Street, Open, Guest, Garage, Covered
- Appliances
- Dishwasher, Electric Range, Microwave, Refrigerator
- Standard status
- Active
- APN
- 27-37-08-53-00000.0-0012.00
- Size
- 2,658 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- STEWART PLACE LOT 12
- Tax Annual Amount
- 6249
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1982
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile
- Building materials
- Frame, Wood Siding
- Roof type
- Shingle
Listing agent Misti Schneider License #3495551 (770) 880-5424
Listing office RE/MAX Aerospace Realty 7925 N Wickham Rd. #B, Rockledge, FL (321) 631-5511
Listing date May 13, 2026
MLS# 1077519
Listing URL
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Full duplex offering two separate units, ideal for investors or owner‑occupants seeking rental income.
- Each unit features 3 bedrooms and 2 full bathrooms, providing ample living space.
- Includes in‑unit laundry rooms and a 1‑car garage for each unit, adding convenience and value.
- Recent upgrades include a 2015 roof and new/soon‑to‑be‑installed A/C units, reducing potential maintenance costs.
- Convenient location: close proximity to Canova Beach Park, the airport, a hospital, Florida Institute of Technology, and major employers.
- Proven rental income history of approximately $1,700 and $1,695 per month per unit.
Overview
This full duplex property features two units, each containing 3 bedrooms and 2 full bathrooms, as well as in-unit laundry rooms and a 1-car garage. The total property offers 6 bedrooms, 4 bathrooms, 2 garages and 3,234 square feet. The roof was replaced in 2015. The A/C unit in one of the units was recently installed, and a brand-new A/C unit is scheduled to be installed in the other unit on May 20th. The most recent rental income for the units was $1,700 and $1,695 per month. The property is situated approximately 5.5 miles from Canova Beach Park and the nearest airport, and 4.5 miles from the nearest hospital. It is also located about 6.5 miles from the Florida Institute of Technology and major employers including Collins Aerospace, Northrop Grumman and L3Harris. Encompassing 0.18 acres, this property is suitable for investors seeking to rent both units or for an owner-occupant looking to reside in one unit while earning income from the other.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$336.3K
NOI $30,270 @ 9.00% cap · cautious / downside scenario
Moderate
$432.4K
NOI $30,270 @ 7.00% cap · market / base-case scenario
Aggressive
$605.4K
NOI $30,270 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.2k | $17.40 |
| − Vacancy | −$3.0k | −$1.13 |
| EGI | $43.2k | $16.27 |
| − OpEx | −$13.0k | −$4.88 |
| NOI | $30.3k | $11.39 |
2,658 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$432.4K
$378.4K – $504.5K
NOI $30,270 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$388.7K
$340.1K – $453.5K
NOI $27,209 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$701.3K
$613.6K – $818.1K
NOI $49,088 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.650004
- Latitude
- 28.144547
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two units, each with 3 beds, 2 baths, and garage.
Where is this duplex located?
The property is located at 1778 Stewart Place Melbourne, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Full duplex offering two separate units, ideal for investors or owner‑occupants seeking rental income.; Each unit features **3 bedrooms and 2 full bathrooms**, providing ample living space.; Includes **in‑unit laundry rooms and a 1‑car garage** for each unit, adding convenience and value.
