Duplex with Separate
For Sale
$220,000
514 S GRANNIS Avenue, Titusville, FL 32796
Residential Income, TITUSVILLE, FL
Property Size1,298 SF
Lot Size0.18 Acres
Price / SF$169.49
Days on Market179
Property Features for 514 S GRANNIS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
NC
Interior features
Eat-in Kitchen, Thermostat
Exterior features
Sidewalk
Subdivision
VACATED ALLEY/SOUTH
Lot features
Corner Lot
Directions
From US-1 in Titusville, head west on Garden Street (SR-406). Turn left onto S Grannis Ave. Property will be on the right at 514 S Grannis Ave.
Standard status
Active
APN
22 3504-01-60-1
Size
1,298 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUBD OF E 1/2 OF NE 1/4 LOT 1 & E 25 FT OF LOT 2 BLK 60 & N 5 FT OF VAC ALLEY ON S
Tax Annual Amount
2751
Legal Description
SUBD OF E 1/2 OF NE 1/4 LOT 1 & E 25 FT OF LOT 2 BLK 60 & N 5 FT OF VAC ALLEY ON S
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
existing AC
Building Details
Year built
1958
Number of units
2
Building materials
Cement Siding, Concrete, Frame
Roof type
Shingle
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
Victor Kosme Romualdo · License #3402279
(352) 206-1473
Added: Mar 4
Changed: Aug 19
Last Checked: Aug 30 at 11:06PM
MLS# O6387826
Copyright © 2026 Stellar MLS. 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 1,298 square feet across two independent residences: one with two bedrooms and one bathroom, and a second with one bedroom and one bathroom. The 0.18-acre property was built in 1958 and includes an eat-in kitchen, thermostat controls, laundry hookups, and central air conditioning. Construction incorporates cement siding, concrete, and frame materials, with a shingle roof replaced in 2018 and updated electrical service.
The property is served by public water and public sewer and has a sidewalk along the exterior. NC zoning applies to the site. Electric heating complements the existing central air system, providing core residential mechanical infrastructure for both units.
The property is served by public water and public sewer and has a sidewalk along the exterior. NC zoning applies to the site. Electric heating complements the existing central air system, providing core residential mechanical infrastructure for both units.
Key Highlights
- Two separate units: one 2‑bedroom, 1‑bath and one 1‑bedroom, 1‑bath
- 1,298 square feet on a 0.18‑acre lot
- NC zoning with public water and public sewer
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
$14,782
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
6.72%
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%
$295,640
$295.6K
Cap Rate 7%
$211,171
$211.2K
Cap Rate 9%
$164,244
$164.2K
Market Conditions
NOI Build-Up for 1,298 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
$22.6K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$21.1K $16.27/SF
− OpEx
−$6.3K −$4.88/SF
NOI
$14.8K $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%
$295,640
Cap Rate 7%
$211,171
Cap Rate 9%
$164,244
Alternative Uses
Best Use
Multifamily LT 5
$211.2K
$184.8K – $246.4K
NOI $14,782 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.5K
NOI $13,287 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$342.4K
$299.6K – $399.5K
NOI $23,971 @ 7.0% cap · market cap 10.90%
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
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 32796, FL
20,818
Population
9,670
Households
2.2
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
14.4 sq mi
ZIP Area
1,446
Density / Sq Mi
$67,399
Median Household Income
$40,368
Median Earnings
$1,305
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with central air, public utilities, and laundry hookups.
Where is this duplex located?
The property is located at 514 S GRANNIS Avenue Titusville, FL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two separate units: one 2‑bedroom, 1‑bath and one 1‑bedroom, 1‑bath; 1,298 square feet on a 0.18‑acre lot; NC zoning with public water and public sewer
