Income Producing
For Sale
$375,000
1806 22nd Avenue Vero, Vero Beach, FL 32960
Duplex with two rented units, each offering two bedrooms and one bath, with recently updated, tile-finished interiors.
Property Size1,568 SF
Days on Market364
Property Features for 1806 22nd Avenue Vero
General Information
Standard status
Active
Size
1,568 SF
Property subtype
Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Amenities
Wall Furnace
Wall/Window Unit(s)
Ceiling Fan(s)
Building Details
Building Size
1,568 SF
Year Built
1968
Listing Agency:
Vero Beach
Listed By:
Vernon Keene · License #SL3473389
(772) 713-7318
Source:
Kw
Added: Oct 27, 2025
Changed: Oct 24
Last Checked: Oct 23 at 5:17PM
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 Vero Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex presents a straightforward income-producing setup with two separate residential units. Each unit includes two bedrooms and one full bathroom, with tile flooring throughout. The property has been recently updated, and it offers an outdoor backyard area with new landscaping, adding usable space beyond the interior living areas.
Located downtown in Vero Beach, the property is positioned close to shopping, supporting everyday convenience for tenants. The layout is designed to accommodate two households within one building, and both units are currently rented.
For buyers seeking a small residential income property, the current tenant occupancy and unit configuration can simplify near-term ownership considerations. With a consistent two-bedroom, one-bath design in each unit, the property offers an efficient footprint for residential leasing. The recently updated finishes and tile throughout are practical from a maintenance and presentation standpoint, while the backyard and landscaping provide an additional amenity that can help support tenant satisfaction. Please note that rental income terms are not provided here; prospective buyers should confirm all lease details and financials during due diligence.
Located downtown in Vero Beach, the property is positioned close to shopping, supporting everyday convenience for tenants. The layout is designed to accommodate two households within one building, and both units are currently rented.
For buyers seeking a small residential income property, the current tenant occupancy and unit configuration can simplify near-term ownership considerations. With a consistent two-bedroom, one-bath design in each unit, the property offers an efficient footprint for residential leasing. The recently updated finishes and tile throughout are practical from a maintenance and presentation standpoint, while the backyard and landscaping provide an additional amenity that can help support tenant satisfaction. Please note that rental income terms are not provided here; prospective buyers should confirm all lease details and financials during due diligence.
Key Highlights
- Duplex built in 1968 with two units, each offering 2 bedrooms and 1 bath
- Both units are currently rented
- Recently updated interiors with tile throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,105
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,100
$362.1K
Cap Rate 7%
$258,643
$258.6K
Cap Rate 9%
$201,167
$201.2K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$27.3K $17.40/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$25.9K $16.50/SF
− OpEx
−$7.8K −$4.95/SF
NOI
$18.1K $11.55/SF
Area
Indian River County, FL
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,100
Cap Rate 7%
$258,643
Cap Rate 9%
$201,167
Alternative Uses
Best Use
Multifamily LT 5
$258.6K
$226.3K – $301.8K
NOI $18,105 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$238.8K
$208.9K – $278.6K
NOI $16,713 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$343.9K
$300.9K – $401.2K
NOI $24,071 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,385
Businesses Nearby
Explore this area
Business Placement
Demographics for 32960, FL
21,522
Population
11,590
Households
1.9
Avg Household Size
48
Median Age
25%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
1,939
Density / Sq Mi
$52,350
Median Household Income
$30,236
Median Earnings
$1,171
Median Rent
$254,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two rented units, each offering two bedrooms and one bath, with recently updated, tile-finished interiors.
Where is this duplex located?
The property is located at 1806 22nd Avenue Vero Vero Beach, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex built in 1968 with two units, each offering 2 bedrooms and 1 bath; Both units are currently rented; Recently updated interiors with tile throughout
