Duplex with Two Detached
For Sale
$279,000
940 19TH Street, Vero Beach, FL 32960
Residential Income, Vero Beach, FL
Property Size843 SF
Lot Size0.16 Acres
Price / SF$330.96
Days on Market11
Property Features for 940 19TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MXD
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Pets allowed
Yes, No
Subdivision
KINGS SUBDIVISION
Elementary school
Beachland
Middle school
Gifford
High school
Vero Beach
Directions
US 1 to 19th street
Standard status
Active
APN
333901000410000000170
Size
843 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KINGS SUB LOT 17 PBS 4-9
Tax Annual Amount
2568
Legal Description
KINGS SUB LOT 17 PBS 4-9
Utilities
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
front porch
laundry room
fenced patio
entry porch
yards
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS
Roof type
Metal
Listing Agency:
Sharon J. Kelly Realty Inc.
(772) 871-0340
Listed By:
Carolyn H. Cernuto · License #695306
(772) 475-3237
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 3 at 3:06AM
MLS# B26068190
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 property comprises two separate homes on a 0.16-acre parcel. The primary residence includes two bedrooms and one bathroom, a front porch, a spacious great room, tile flooring, granite kitchen counters, newer cabinetry and appliances, plus a dedicated laundry room. A privacy-fenced patio extends from the kitchen area. The second home provides one bedroom and one bathroom, an entry porch, an open great room, tile flooring, a newer kitchen with newer appliances, and its own laundry room.
Both residences feature metal roofs, yard space, public water, public sewer, and CBS construction. The property was built in 1950 and has a stated property size of 843 square feet. MXD zoning applies. The configuration supports separate occupancy of the two homes, including the option to occupy one residence while leasing the other.
Both residences feature metal roofs, yard space, public water, public sewer, and CBS construction. The property was built in 1950 and has a stated property size of 843 square feet. MXD zoning applies. The configuration supports separate occupancy of the two homes, including the option to occupy one residence while leasing the other.
Key Highlights
- Two separate homes on a 0.16‑acre parcel
- Primary home has a 2/1 layout; second home has a 1/1 layout
- Primary residence includes granite counters, newer cabinets, and newer appliances
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 32960, FL
21,522
Population
11,590
Households
1.9
Avg Household Size
48
Median Age
25%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
1,939
Density / Sq Mi
$52,350
Median Household Income
$30,236
Median Earnings
$1,171
Median Rent
$254,400
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 residences offer separate living arrangements, updated kitchens, private outdoor areas, and individual laundry rooms.
Where is this duplex located?
The property is located at 940 19TH Street 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 a 0.16‑acre parcel; Primary home has a 2/1 layout; second home has a 1/1 layout; Primary residence includes granite counters, newer cabinets, and newer appliances
