Two-Home Duplex
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 Market28
Property Features for 940 19TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MXD
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Pets allowed
No, Yes
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
granite countertops
new cabinets
new appliances
laundry room
central air and heat
window units
entry porch
yard space
metal roofs
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 12
Last Checked: Sep 20 at 12:06AM
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 includes two separate homes on a 0.16-acre lot. The primary residence offers two bedrooms and one bathroom, a front porch, a large great room, tiled floors, a kitchen with granite countertops, newer cabinets and appliances, plus a dedicated laundry room. The second home contains one bedroom and one bathroom, along with an entry porch, great room, tiled flooring, a newer kitchen and appliances, and its own laundry room.
Both residences have metal roofs, public water, public sewer, and outdoor yard areas. Cooling is provided by window or wall/window units and ceiling fans; the central air and heat systems are not working. The buildings were constructed in 1950 using CBS materials, and the property is zoned MXD.
Both residences have metal roofs, public water, public sewer, and outdoor yard areas. Cooling is provided by window or wall/window units and ceiling fans; the central air and heat systems are not working. The buildings were constructed in 1950 using CBS materials, and the property is zoned MXD.
Key Highlights
- Two separate homes on a 0.16‑acre property
- Primary residence includes 2 bedrooms and 1 bathroom
- Second residence includes 1 bedroom and 1 bathroom
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a two-bedroom home and a one-bedroom home within an MXD-zoned property.
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 property; Primary residence includes 2 bedrooms and 1 bathroom; Second residence includes 1 bedroom and 1 bathroom
