Quadplex with Impact
For Sale
$625,000
658 Young Street, Melbourne, FL 32935
MULTI_FAMILY - Melbourne, FL
Property Size3,144 SF
Lot Size0.11 Acres
Price / SF$198.79
Days on Market101
Property Features for 658 Young Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking
8
Parking features
Assigned, Driveway, Guest, Parking Lot
Exterior features
Balcony
Fireplace
1
Appliances
Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Tankless Water Heater, Washer/Dryer Stacked
Subdivision
Snells S/D of Lot 25 Houstons Add To Eau Gallie
Lot features
Historic Area
Middle school
Johnson
Directions
US 1 South of Eau Gallie causeway to Young Street
Standard status
Active
APN
27-37-21-05-00000.0-0007.00
Size
3,144 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SNELLS S/D OF LOT 25 HOUSTONS ADD TO EAU GALLIE LOT 7
Tax Annual Amount
7094
Legal Description
SNELLS S/D OF LOT 25 HOUSTONS ADD TO EAU GALLIE LOT 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Varies by Unit (Heating)
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Number of units
4
Flooring type
Laminate
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Space Coast Realty & Inv. LLC
(321) 783-5000
Listed By:
Donna A Gianotti-Kelley
(321) 806-6362
Added: May 1
Changed: Aug 2
Last Checked: Aug 9 at 11:06PM
MLS# 1076310
Copyright © 2026 Space Coast Association of Realtors. 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.
Restored historic quadplex built in 1926 with a total of 3,144 square feet on a 0.11-acre lot. The property offers four one-bedroom, one-bath units, each with spacious living and dining areas, full kitchens, and a bonus room suited for an office or creative space. Each unit is equipped with two ductless wall-mounted mini-split systems, and two units include stackable washer/dryers. Exterior features include a balcony. Parking is available with assigned spaces, driveway access, guest parking, and a parking lot.
Upgrades include new plumbing, some new electrical, tankless water heaters, and impact windows in most areas. The roof is a 2022 shingle roof, and interiors have been remodeled while preserving historic character. Utilities include cable available, with public water and public sewer.
Located at 658 Young Street in Melbourne, near the Eau Gallie Marina and within walking distance to shops, restaurants, and nightlife, with quick access to US-1 and the beach.
Upgrades include new plumbing, some new electrical, tankless water heaters, and impact windows in most areas. The roof is a 2022 shingle roof, and interiors have been remodeled while preserving historic character. Utilities include cable available, with public water and public sewer.
Located at 658 Young Street in Melbourne, near the Eau Gallie Marina and within walking distance to shops, restaurants, and nightlife, with quick access to US-1 and the beach.
Key Highlights
- Four units, each 1BR/1BA with living and dining areas plus full kitchens
- Ductless wall‑mounted mini‑split systems in every unit; stackable washer/dryers in two units
- Impact windows in most areas plus new plumbing and some new electrical
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
$35,805
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
5.73%
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%
$716,100
$716.1K
Cap Rate 7%
$511,500
$511.5K
Cap Rate 9%
$397,833
$397.8K
Market Conditions
NOI Build-Up for 3,144 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
$54.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$51.1K $16.27/SF
− OpEx
−$15.3K −$4.88/SF
NOI
$35.8K $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%
$716,100
Cap Rate 7%
$511,500
Cap Rate 9%
$397,833
Alternative Uses
Best Use
Multifamily LT 5
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$459.8K
$402.3K – $536.4K
NOI $32,184 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$829.5K
$725.8K – $967.7K
NOI $58,063 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
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?
Quadplex - Restored quadplex with four 1BR/1BA units, ductless mini-splits, and a 2022 roof with impact windows in most areas.
Where is this quadplex located?
The property is located at 658 Young Street Melbourne, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four units, each 1BR/1BA with living and dining areas plus full kitchens; Ductless wall‑mounted mini‑split systems in every unit; stackable washer/dryers in two units; Impact windows in most areas plus new plumbing and some new electrical
