Two-Unit Terrazzo
1945 & 1949 24th Street, Vero Beach, FL 32960
For Sale
$400,000
ResidentialIncome, Vero Beach, FL
Property Size1,194 SF
Price / SF$335.01
Days on Market72
Property Features for 1945 & 1949 24th Street
General Information
Property type
Property subtype
Zoning
Zoning description
Parking
Parking features
Patio and Porch features
Interior features
Exterior features
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
off-street parking
laundry facilities
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
Dale Sorensen Real Estate Inc.
(772) 231-4712
Listed By:
Tripp Hernandez · License FL #3026751
(772) 539-1980
Added: Sep 2
Changed: Nov 11
Last Checked: Nov 12 at 8:06AM
MLS# 299620
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 1,194-square-foot duplex contains two occupied units, with terrazzo flooring and impact windows. Built in 1948, the block-and-concrete property also includes crown molding, eat-in kitchens, and patios. Central air conditioning, ceiling fans, and electric heat serve the residences; public water and sewer are available.
Off-street parking and laundry facilities provide practical amenities for occupants. The property is in Vero Beach, a few blocks from downtown shops, restaurants, churches, and the library, amid homes dating to the 1940s.
Off-street parking and laundry facilities provide practical amenities for occupants. The property is in Vero Beach, a few blocks from downtown shops, restaurants, churches, and the library, amid homes dating to the 1940s.
Key Highlights
- Two occupied units
- 1,194 square feet
- Impact windows and terrazzo flooring
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
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,640
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 - Two occupied residences offer off-street parking, laundry facilities, and patios in Vero Beach.
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; 1,194 square feet; Impact windows and terrazzo flooring
