Two-Unit Duplex with Terrazzo
1945-1949 24th Street, Vero Beach, FL 32960
For Sale
$400,000
Both residences are occupied and feature impact windows, shared laundry facilities, and off-street parking.
Property Size1,194 SF
Price / SF$335.01
Days on Market123
Property Features for 1945-1949 24th Street
General Information
Standard status
Size
Property subtype
Additional Details
Gross Income
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
off street parking
laundry facilities
sidewalks
One
Terrazzo
No
CommonArea, Outside
CrownMolding, EatInKitchen
Shingle
Patio
Building Details
Year Built
Stories
Listing Agency:
Dale Sorensen Real Estate Inc.
Listed By:
Tripp Hernandez · License #3026751
(772) 539-1980
Source:
Compass
Added: Jul 8
Changed: Nov 3
Last Checked: Nov 6 at 11:12AM
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 Dale Sorensen Real Estate Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1948, this 1,194-square-foot duplex contains two occupied units. Terrazzo flooring and crown molding provide period detail, while the property also includes impact windows, a shared laundry area, and off-street parking. Patio space is part of the exterior configuration.
The property is in Vero Beach’s Original Town area, within a few blocks of downtown shops, restaurants, churches, and the library. Sidewalks and nearby 1940s homes are also part of the surrounding setting.
The property is in Vero Beach’s Original Town area, within a few blocks of downtown shops, restaurants, churches, and the library. Sidewalks and nearby 1940s homes are also part of the surrounding setting.
Key Highlights
- Two occupied units generating $2,560/month in current gross income
- 1,194‑square‑foot duplex built in 1948
- Impact windows and terrazzo floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,787
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,740
$275.7K
Cap Rate 7%
$196,957
$197.0K
Cap Rate 9%
$153,189
$153.2K
Market Conditions
NOI Build-Up for 1,194 SF
Gross rent
$20.8K $17.40/SF
− Vacancy
−$1.1K −$0.90/SF
EGI
$19.7K $16.50/SF
− OpEx
−$5.9K −$4.95/SF
NOI
$13.8K $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%
$275,740
Cap Rate 7%
$196,957
Cap Rate 9%
$153,189
Alternative Uses
Best Use
Multifamily LT 5
$197.0K
$172.3K – $229.8K
NOI $13,787 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$181.8K
$159.1K – $212.1K
NOI $12,727 @ 7.0% cap · market cap 3.18%
Theoretical Best
Specialty Retail
$261.8K
$229.1K – $305.5K
NOI $18,329 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
107
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
$254,400
Median Home Value
Market
Average Price Trend$/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 occupied and feature impact windows, shared laundry facilities, and off-street parking.
Where is this duplex located?
The property is located at 1945-1949 24th Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two occupied units generating $2,560/month in current gross income; 1,194‑square‑foot duplex built in 1948; Impact windows and terrazzo floors
