Two-Home Duplex
For Sale
$279,000
940 19th St Sw, Vero Beach, FL 32962
Separate residences provide a two-bedroom/two-bath and one-bedroom/one-bath configuration with individual laundry rooms.
Property Size843 SF
Price / SF$330.96
Days on Market10
Property Features for 940 19th St Sw
General Information
Standard status
Active
Size
843 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,567
Amenities
front porch
fenced patio
laundry room
granite countertops
new cabinets
new appliances
metal roofs
Building Details
Buildings
2
Listing Agency:
Sharon J. Kelly Realty Inc.
(772) 871-0340
Listed By:
Carolyn H. Cernuto · License #695306
(772) 475-3237
Source:
Exprealty
Added: Aug 25
Changed: Aug 31
Last Checked: Sep 1 at 10:49PM
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 Sharon J. Kelly Realty Inc.
Investment Insights
Based on property information with market context.
This duplex property includes two separate homes on one parcel. The primary residence offers a 2/1 layout with a front porch, spacious great room, rounded doorways, tile flooring, granite kitchen countertops, newer cabinetry and appliances, plus a dedicated laundry room. A rear kitchen exit leads to a privacy-fenced patio. The second home provides a 1/1 layout, entry porch, large great room, tile flooring, updated kitchen and appliances, and its own laundry room. Both residences have metal roofs and yard areas for outdoor use.
Located at 940 19th St SW in Vero Beach, the property presents two distinct residential spaces within a single duplex asset. The separate layouts and individual laundry facilities support independent household occupancy, while the existing porches, patios and yard areas add usable exterior space.
Located at 940 19th St SW in Vero Beach, the property presents two distinct residential spaces within a single duplex asset. The separate layouts and individual laundry facilities support independent household occupancy, while the existing porches, patios and yard areas add usable exterior space.
Key Highlights
- Two separate homes on one property
- Main home configured as 2/1; second home configured as 1/1
- Individual laundry rooms in both residences
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
$9,734
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
3.49%
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%
$194,680
$194.7K
Cap Rate 7%
$139,057
$139.1K
Cap Rate 9%
$108,156
$108.2K
Market Conditions
NOI Build-Up for 843 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
$14.7K $17.40/SF
− Vacancy
−$763 −$0.90/SF
EGI
$13.9K $16.50/SF
− OpEx
−$4.2K −$4.95/SF
NOI
$9.7K $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%
$194,680
Cap Rate 7%
$139,057
Cap Rate 9%
$108,156
Alternative Uses
Best Use
Multifamily LT 5
$139.1K
$121.7K – $162.2K
NOI $9,734 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$128.4K
$112.3K – $149.8K
NOI $8,986 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$184.9K
$161.8K – $215.7K
NOI $12,941 @ 7.0% cap · market cap 4.64%
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
2,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 32962, FL
26,011
Population
12,705
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
2,081
Density / Sq Mi
$65,137
Median Household Income
$32,617
Median Earnings
$1,184
Median Rent
$247,700
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 - Separate residences provide a two-bedroom/two-bath and one-bedroom/one-bath configuration with individual laundry rooms.
Where is this duplex located?
The property is located at 940 19th St Sw Vero Beach, FL.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two separate homes on one property; Main home configured as 2/1; second home configured as 1/1; Individual laundry rooms in both residences
