347 W Merritt Avenue, Merritt Island, FL 32953
MULTI_FAMILY - Merritt Island, FL
- Added:
- Feb 29, 2024
- Days on Market:
- 846
- Last Refresh:
- Jun 24 at 5:06 pm
Property Features for 347 W Merritt Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
- Parking
- 4
- Parking features
- Guest, Carport
- Fencing
- Chain Link, Privacy
- Appliances
- Gas Oven, Gas Range, Refrigerator
- Standard status
- Active
- APN
- 24-36-35-32-0000j.0-0014.00
- Size
- 2,243 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- MERRITT PARK PLACE LOTS 14,15 BLK J
- Tax Annual Amount
- 3303
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Varies by Unit (Heating), Central
- Cooling system
- Electric, Window Unit(s), Varies by Unit, Wall/Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1957
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Tile, Vinyl, Carpet
- Building materials
- Block
- Roof type
- Shingle
Listing agent Leon McDaniel License #320846 (321) 480-0548
Listing office Daignault Realty Inc 215 N Courtenay Parkway, Merritt Island, FL (321) 453-2151
Listing date Feb 29, 2024
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.
HighLights
- Potential for immediate income generation as a duplex.
- Easily convertible back to a triplex for increased rental income potential.
- Includes a spacious 2‑bedroom, 1‑bath unit, plus two 1‑bedroom, 1‑bath units (in triplex configuration).
- Conveniently located less than two miles from all schools and blocks from Mila Elementary.
- Proximity to shopping and restaurants.
- Carport parking available.
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.0k | $17.40 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $36.5k | $16.27 |
| − OpEx | −$10.9k | −$4.88 |
| NOI | $25.5k | $11.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Merritt Island
- County
- Brevard
- State
- Florida
- Longitude
- -80.704433
- Latitude
- 28.361355
