Building Details

Year Built 1976

Listing Agency: Approved Realty Solutions, Inc c***@carlcarey.com Show Phone

Listed By: Patrick Jones Show Phone

Source: Lehmannflorida

Added: Jun 28 Changed: Oct 15 Last Checked: Oct 16 at 8:54AM

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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 Approved Realty Solutions, Inc

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Investment Insights

Based on property information with market context.

This updated duplex offers two separate rental units: a 3-bedroom 2-bath unit and a fully renovated 2-bedroom 1-bath unit. The property is described as cash-flowing, generating $3,350 in gross monthly income, with $1,800 for the 3/2 unit and $1,550 for the 2/1 unit. The 2-bedroom unit has been fully renovated, including a kitchen, updated bathroom, flooring, and fresh paint. The 3-bedroom unit has a new kitchen and other updates, and it is described as month-to-month.

Significant improvements noted include a brand-new roof in 2026 (reported as a $22,000 roof), a new AC unit in the 3-bedroom unit in 2026, along with a newer septic system and a newer well. Both units are described as having large bedrooms and ample closet space, plus screened patios and access to a fenced yard.

Key Highlights

• Updated duplex (2 units) built in 1976 generating $3,350 in gross monthly income
• Revenue includes $1,800 per month for the 3/2 unit and $1,550 per month for the fully renovated 2/1 unit
• Brand‑new $22,000 roof scheduled/installed in 2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,973

Cap Rate

8.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$699,460 $699.5K

Cap Rate 7%

$499,614 $499.6K

Cap Rate 9%

$388,589 $388.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,565 SF

Gross rent

$66.8K $26.04/SF

− Vacancy

−$3.2K −$1.25/SF

EGI

$63.6K $24.79/SF

− OpEx

−$28.6K −$11.16/SF

NOI

$35.0K $13.63/SF

Area

St. Lucie County, FL

Vacancy

4.80%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$699,460

Cap Rate 7%

$499,614

Cap Rate 9%

$388,589

Alternative Uses

Best Use

Multifamily LT 5

$538.1K

$470.9K – $627.8K (±1% cap)

NOI $37,668 @ 7.0% cap · market cap 9.66%

Second Best

Apartment 5plus

$499.6K

$437.2K – $582.9K (±1% cap)

NOI $34,973 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$645.1K

$564.4K – $752.6K (±1% cap)

NOI $45,154 @ 7.0% cap · market cap 11.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Dental Office Auto Repair Shop Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

234

Businesses Nearby

Explore this area Business Placement

Demographics for 34951, FL

15,357

Population

8,305

Households

1.8

Avg Household Size

56

Median Age

21%

College-Educated

92%

High-School Grad

24.3 sq mi

ZIP Area

632

Density / Sq Mi

$63,214

Median Household Income

$35,597

Median Earnings

$1,186

Median Rent

$229,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Updated 2-unit duplex generating $3,350 in gross monthly income, featuring screened patios, fenced yard, and recent major upgrades.

Where is this duplex located?

The property is located at 5298 Deleon Avenue Fort Pierce, FL.

What is the asking price?

The asking price for this property is $389,900.

What are key features of this property?

This property features: Updated duplex (2 units) built in 1976 generating $3,350 in gross monthly income; Revenue includes $1,800 per month for the 3/2 unit and $1,550 per month for the fully renovated 2/1 unit; Brand‑new $22,000 roof scheduled/installed in 2026