Side-by-Side
New
For Sale
$250,000
2410 MYRTLE AVENUE, Mims, FL 32754
Income property with two separately leased residences and updated major systems.
Property Size1,500 SF
Price / SF$166.67
Days on Market4
Property Features for 2410 MYRTLE AVENUE
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Duplex
Occupancy
100%
Net Operating Income
$21,400
Financials
Asking Price
$250,000
Cap Rate
8.5%
Gross Income
$26,400
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS ADVANTAGE REALTY
(407) 977-7600
Listed By:
Barrett Spray · License #590021
(407) 978-4326
Source:
Dennisrealty
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 24 at 9:39AM
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 KELLER WILLIAMS ADVANTAGE REALTY
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each configured with two bedrooms and one bathroom. The units provide approximately 1,500 square feet combined and have been continuously occupied for 30 years. Both residences are currently subject to year-long leases.
The property was built in 1960 and has received notable system updates, including a roof replacement in 2013 and AC replacement in 2017. Located at 2410 Myrtle Avenue in Mims, Florida, the asset is positioned as a two-unit residential income property with an 8.5% cap rate.
The property was built in 1960 and has received notable system updates, including a roof replacement in 2013 and AC replacement in 2017. Located at 2410 Myrtle Avenue in Mims, Florida, the asset is positioned as a two-unit residential income property with an 8.5% cap rate.
Key Highlights
- Two‑unit side‑by‑side duplex with 2‑bedroom, 1‑bath layouts
- Approximately 1,500 square feet combined
- Both units are under year‑long leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,082
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,640
$341.6K
Cap Rate 7%
$244,029
$244.0K
Cap Rate 9%
$189,800
$189.8K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.1K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$24.4K $16.27/SF
− OpEx
−$7.3K −$4.88/SF
NOI
$17.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,640
Cap Rate 7%
$244,029
Cap Rate 9%
$189,800
Alternative Uses
Best Use
Multifamily LT 5
$244.0K
$213.5K – $284.7K
NOI $17,082 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$219.4K
$191.9K – $255.9K
NOI $15,355 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 32754, FL
11,996
Population
5,657
Households
2.1
Avg Household Size
50
Median Age
20%
College-Educated
91%
High-School Grad
136.9 sq mi
ZIP Area
88
Density / Sq Mi
$69,960
Median Household Income
$41,758
Median Earnings
$1,004
Median Rent
$260,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Income property with two separately leased residences and updated major systems.
Where is this duplex located?
The property is located at 2410 MYRTLE AVENUE Mims, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 2‑bedroom, 1‑bath layouts; Approximately 1,500 square feet combined; Both units are under year‑long leases
