Two-Unit
1806 22nd Avenue, Vero Beach, FL 32960
For Sale
New
$385,000
ResidentialIncome, Vero Beach, FL
Property Size1,568 SF
Lot Size0.17 Acres
Price / SF$245.54
Days on Market4
Property Features for 1806 22nd Avenue
General Information
Property type
Property subtype
Zoning
Zoning description
Parking
Parking features
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
Compass Florida LLC
(772) 492-7777
Listed By:
Vern Keene · License #3473389
(772) 713-7318
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 7 at 2:06PM
MLS# 301082
Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with 2 bedrooms and 1 bathroom. The 1,568-square-foot building has tile flooring throughout and has been updated. Block, concrete, and stucco are listed among its construction materials; the roof is rolled hot mop. Off-street parking is available, and the property has a backyard with landscaping.
Set in downtown Vero Beach near shopping, the property occupies a 0.17-acre lot. Public water and public sewer serve the site. Built in 1968, both units are currently rented.
Set in downtown Vero Beach near shopping, the property occupies a 0.17-acre lot. Public water and public sewer serve the site. Built in 1968, both units are currently rented.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,568‑square‑foot building on a 0.17‑acre lot
- Both units currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,105
Cap Rate
4.70%
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 4.70%
Second Best
Apartment 5plus
$238.8K
$208.9K – $278.6K
NOI $16,713 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$343.9K
$300.9K – $401.2K
NOI $24,071 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,385
Businesses Nearby
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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
$254,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Indian River County, FL
Properties on Market for Duplexes in Indian River County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and feature tile flooring.
Where is this duplex located?
The property is located at 1806 22nd Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,568‑square‑foot building on a 0.17‑acre lot; Both units currently rented
