Three-Unit
For Sale
$275,000
2270 Wood Street, Melbourne, FL 32904
Residential Income, Melbourne, FL
Property Size1,774 SF
Lot Size0.40 Acres
Price / SF$155.02
Days on Market31
Property Features for 2270 Wood Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Appliances
Refrigerator
Subdivision
Pine Grove No 1
Lot features
Many Trees
Elementary school
Meadowlane
Middle school
Central
High school
Melbourne
Directions
I95 Take exit 180 toward Melbourne, turn left onto US-192 E/W New Haven Ave, Turn right onto Wood St, Turn right onto Caton Ave, property at the end to the right
Standard status
Active
APN
28-36-01-52-00000.0-0348.00
Size
1,774 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PINE GROVE NO 1 LOTS 348,349,350
Tax Annual Amount
2484
Legal Description
PINE GROVE NO 1 LOTS 348,349,350
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Well
Building Details
Year built
1952
Floors in Building
1
Number of units
3
Flooring type
Tile
Building materials
Frame
Roof type
Shingle, Metal
Listing Agency:
ITG Realty
(321) 622-2701
Listed By:
Rusty E Melle · License #3185860
(321) 474-0400
Added: Sep 14
Changed: Oct 14
Last Checked: Oct 14 at 4:06PM
MLS# 1087770
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.
Investment Insights
Based on property information with market context.
This triplex contains three units within a 1,774-square-foot frame building on a 0.4-acre parcel. Built in 1952, the property has tile flooring, electric heat, a refrigerator, and three bedrooms and three bathrooms. Water is supplied by a well, with a septic tank serving the property.
At 2270 Wood Street in Melbourne, the property is described as having access to shopping, dining, schools, major roadways, and nearby employment centers.
At 2270 Wood Street in Melbourne, the property is described as having access to shopping, dining, schools, major roadways, and nearby employment centers.
Key Highlights
- Three‑unit property with 1,774 square feet of building area
- 0.4‑acre parcel at 2270 Wood Street in Melbourne
- Built in 1952; frame construction and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,203
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,060
$404.1K
Cap Rate 7%
$288,614
$288.6K
Cap Rate 9%
$224,478
$224.5K
Market Conditions
NOI Build-Up for 1,774 SF
Gross rent
$30.9K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.9K $16.27/SF
− OpEx
−$8.7K −$4.88/SF
NOI
$20.2K $11.39/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,060
Cap Rate 7%
$288,614
Cap Rate 9%
$224,478
Alternative Uses
Best Use
Multifamily LT 5
$288.6K
$252.5K – $336.7K
NOI $20,203 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$259.4K
$227.0K – $302.7K
NOI $18,160 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$468.0K
$409.5K – $546.0K
NOI $32,762 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Built in 1952, the frame structure has tile flooring and electric heat.
Where is this triplex located?
The property is located at 2270 Wood Street Melbourne, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑unit property with 1,774 square feet of building area; 0.4‑acre parcel at 2270 Wood Street in Melbourne; Built in 1952; frame construction and tile flooring
