Well-Maintained Duplex
421 Butler Street Melbourne, FL 32901
For Sale
$249,000
Pending
Two separate units include a newer central air system, plus a recent roof and exterior paint within five years.
Property Size1,125 SF
Days on Market31
Property Features for 421 Butler Street
General Information
- Standard status
- Pending
- Size
- 1,125 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1955
Listing Agency:
Florida Professional R E Inc
(954) 980-2643
Listed By:
Steven J David · License #3176578
(954) 980-2643
Source:
Lehmannflorida
Added: Jun 26
Changed: Jul 24
Last Checked: Jul 24 at 2:20AM
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 Florida Professional R E Inc
Investment Insights
Based on property information with market context.
This well-located duplex offers two units: a 2/1 and a 1/1. Recent improvements include a newer central air system on the north unit, along with a new roof and exterior paint within the last five years.
The 2/1 unit is currently rented for $1,200, and the 1/1 unit is currently rented for $900.
The property is offered for sale as a residential income duplex with two distinct living configurations.
The 2/1 unit is currently rented for $1,200, and the 1/1 unit is currently rented for $900.
The property is offered for sale as a residential income duplex with two distinct living configurations.
Key Highlights
- Duplex with two separate units: 2/1 and 1/1
- 2/1 unit currently rented for $1,200
- 1/1 unit currently rented for $900
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 | $19.6k | $17.40 |
| − Vacancy | −$1.3k | −$1.13 |
| EGI | $18.3k | $16.27 |
| − OpEx | −$5.5k | −$4.88 |
| NOI | $12.8k | $11.39 |
1,125 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.0K
$160.2K – $213.5K
NOI $12,812 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$164.5K
$144.0K – $191.9K
NOI $11,516 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$296.8K
$259.7K – $346.3K
NOI $20,777 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate units include a newer central air system, plus a recent roof and exterior paint within five years.
Where is this duplex located?
The property is located at 421 Butler Street Melbourne, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex with two separate units: 2/1 and 1/1; 2/1 unit currently rented for $1,200; 1/1 unit currently rented for $900
