Well-Maintained Duplex Income
421 Butler Street Melbourne, FL 32901
421 Butler Street, Melbourne, FL, 32901
$249,000
For Sale
$249,000
MULTI_FAMILY - Melbourne, FL
Property Size1,125 SF
Lot Size0.14 Acres
Price / SF$221.33
Days on Market22
Property Features for 421 Butler Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 0855 multiple
- Bedrooms
- 3
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
- Patio and Porch features
- Patio
- Pets allowed
- Yes, No
- Standard status
- Active
- APN
- 27372876292
- Size
- 1,125 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- INDIAN RIVER BLUFF NO 3 LOT 292 & S 10 FT OF LOT 293
- Tax Annual Amount
- 2770
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Wall/Window Unit(s), Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1955
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile
- Building materials
- CBS
- Roof type
- Shingle
Listing Agency
Florida Professional R E Inc
(954) 565-0014
2737 E Oakland Pk Blvd #203, Port St Lucie, FL
Listed by
Steven J David · License #3005272
(954) 565-0014
Added: Jun 26 Checked: Jul 17 at 4:06 pm
MLS# B26046033
Listing URL
Copyright © 2026 BeachesMLS. 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.
The property is a duplex with two separate units configured as a 2/1 and a 1/1. Recent improvements include a newer central air system for the north unit, along with a new roof and exterior paint completed within the last five years.
The duplex is well located in Melbourne, Florida, at 421 Butler Street in Brevard County. The lot size is listed at 0.14 acres, and the total property size is 1,125 square feet.
This asset is suited to buyers seeking residential income with two distinct rental spaces. As presented, the 2/1 unit is currently rented for $1,200, and the 1/1 unit is currently rented for $900, offering straightforward current tenant occupancy information for underwriting and planning.
The duplex is well located in Melbourne, Florida, at 421 Butler Street in Brevard County. The lot size is listed at 0.14 acres, and the total property size is 1,125 square feet.
This asset is suited to buyers seeking residential income with two distinct rental spaces. As presented, the 2/1 unit is currently rented for $1,200, and the 1/1 unit is currently rented for $900, offering straightforward current tenant occupancy information for underwriting and planning.
Key Highlights
- Duplex with a 2/1 unit and a 1/1 unit
- 2/1 unit rent is $1,200 and 1/1 unit rent is $900
- Newer central air on the north unit and central/electric heating
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 | $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
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two rental units offer a simple live-in or investment setup with recent roof, exterior paint, and HVAC updates.
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 a 2/1 unit and a 1/1 unit; 2/1 unit rent is $1,200 and 1/1 unit rent is $900; Newer central air on the north unit and central/electric heating
