Updated Duplex with Storage
For Sale
$189,000
4250 29th Avenue, Vero Beach, FL 32967
Residential Income, Vero Beach, FL
Property Size908 SF
Lot Size0.28 Acres
Price / SF$208.15
Days on Market62
Property Features for 4250 29th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-10
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Pets allowed
Yes, No
Exterior features
Barbecue, Custom Lighting, Storage
Subdivision
ADDITION TO JACKSONS SUBDIVISION
Lot features
Many Trees, Oversized Lot
Elementary school
Dodgertown
Middle school
Gifford
High school
Vero Beach
Standard status
Active
APN
323927000060000000022
Size
908 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ADDITION TO JACKSONS SUBDIVISION PBI 2 - 73 PREVIOUSLY KNOWN AS PLAT OF JACKSONS SUBDIVISON PBI 2 - 54 BEING THE N 81.1FT OF S 131.1FT OF LO
Tax Annual Amount
1321
Legal Description
ADDITION TO JACKSONS SUBDIVISION PBI 2 - 73 PREVIOUSLY KNOWN AS PLAT OF JACKSONS SUBDIVISON PBI 2 - 54 BEING THE N 81.1FT OF S 131.1FT OF LO
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
storage shed
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Flooring type
Laminate
Additional Structures
Storage
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Maria Sobinina · License #3167555
(561) 316-6002
Added: Jul 10
Changed: Sep 9
Last Checked: Sep 9 at 10:06AM
MLS# B26050819
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.
This duplex contains two separate residential units within 908 square feet and was built in 1968. Both units have been renovated with modern finishes, while laminate flooring, wall/window and window-unit cooling, and a detached storage shed add practical functionality. The property also includes three bedrooms and three bathrooms, along with public water and public sewer service.
Set on a 12,393+/- square foot lot in Vero Beach, the RM-10 multifamily-zoned property features a backyard with mature greenery and a small canal that creates a natural buffer. Shopping, dining, parks, and other Vero Beach amenities are located nearby. Cable is available at the property.
Set on a 12,393+/- square foot lot in Vero Beach, the RM-10 multifamily-zoned property features a backyard with mature greenery and a small canal that creates a natural buffer. Shopping, dining, parks, and other Vero Beach amenities are located nearby. Cable is available at the property.
Key Highlights
- Two separate residential units totaling 908 square feet
- RM‑10 multifamily zoning on a 12,393+/- sq. ft. lot
- Three bedrooms and three bathrooms
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
$10,484
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
5.55%
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%
$209,680
$209.7K
Cap Rate 7%
$149,771
$149.8K
Cap Rate 9%
$116,489
$116.5K
Market Conditions
NOI Build-Up for 908 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
$15.8K $17.40/SF
− Vacancy
−$822 −$0.90/SF
EGI
$15.0K $16.50/SF
− OpEx
−$4.5K −$4.95/SF
NOI
$10.5K $11.55/SF
Area
Indian River County, FL
Vacancy
5.20%
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%
$209,680
Cap Rate 7%
$149,771
Cap Rate 9%
$116,489
Alternative Uses
Best Use
Multifamily LT 5
$149.8K
$131.1K – $174.7K
NOI $10,484 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$138.3K
$121.0K – $161.3K
NOI $9,678 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$199.1K
$174.2K – $232.3K
NOI $13,939 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 32967, FL
25,785
Population
12,358
Households
2.1
Avg Household Size
50
Median Age
35%
College-Educated
91%
High-School Grad
40.0 sq mi
ZIP Area
645
Density / Sq Mi
$73,875
Median Household Income
$38,156
Median Earnings
$1,425
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated units on an RM-10-zoned parcel with a detached shed and landscaped backyard setting.
Where is this duplex located?
The property is located at 4250 29th Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two separate residential units totaling 908 square feet; RM‑10 multifamily zoning on a 12,393+/- sq. ft. lot; Three bedrooms and three bathrooms
