Concrete Block Duplex with
New
For Sale
$599,900
1760&1766 Mason Terrace, Melbourne, FL 32935
Residential Income, Melbourne, FL
Property Size2,432 SF
Lot Size0.26 Acres
Price / SF$246.67
Days on Market4
Property Features for 1760&1766 Mason Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Parking
8
Exterior features
Impact Windows
Appliances
Dishwasher, Electric Cooktop, Electric Range, Microwave, Refrigerator
Subdivision
Country Club Gardens Subd
Elementary school
Creel
Middle school
Johnson
High school
Eau Gallie
Directions
From US-1, head west on Lake Washington Rd. Turn left onto Stewart Rd, then take the first right onto Mason Ter. The duplex is on the right.
Standard status
Active
APN
27-37-08-50-0000a.0-0015.00
Size
2,432 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COUNTRY CLUB GARDENS SUBD LOTS 15 & 16 BLK A
Tax Annual Amount
5556
Legal Description
COUNTRY CLUB GARDENS SUBD LOTS 15 & 16 BLK A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Denovo Realty
(321) 237-1887
Listed By:
Chaleah Gehrman
(321) 349-4013
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 26 at 12:06AM
MLS# 1088372
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.
This 2,432-square-foot duplex, built in 1985, contains two separately configured residences within a concrete structure. One unit offers three bedrooms and two bathrooms, while the other provides two bedrooms and two bathrooms. Each residence includes a one-car garage, and the larger unit has additional parking. Tile and carpet flooring, central heating, and central air serve the property.
Recent improvements include impact-rated windows throughout, a 2019 shingle roof, a 2021 AC system serving one side, and a 2016 air handler serving the other. Both units are occupied by long-term tenants, with leases scheduled to end in December. Public water and public sewer serve the property, which sits on a 0.26-acre parcel in Melbourne, Florida.
Recent improvements include impact-rated windows throughout, a 2019 shingle roof, a 2021 AC system serving one side, and a 2016 air handler serving the other. Both units are occupied by long-term tenants, with leases scheduled to end in December. Public water and public sewer serve the property, which sits on a 0.26-acre parcel in Melbourne, Florida.
Key Highlights
- Two‑unit duplex with 2,432 square feet on 0.26 acres
- Unit mix includes 3 bed/2 bath and 2 bed/2 bath residences
- Each unit has its own 1‑car garage; additional parking serves the 3‑bedroom unit
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
$27,696
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
4.62%
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%
$553,920
$553.9K
Cap Rate 7%
$395,657
$395.7K
Cap Rate 9%
$307,733
$307.7K
Market Conditions
NOI Build-Up for 2,432 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
$42.3K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$39.6K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.7K $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%
$553,920
Cap Rate 7%
$395,657
Cap Rate 9%
$307,733
Alternative Uses
Best Use
Multifamily LT 5
$395.7K
$346.2K – $461.6K
NOI $27,696 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$355.6K
$311.2K – $414.9K
NOI $24,895 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$641.6K
$561.4K – $748.6K
NOI $44,914 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
354
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
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 occupied units offer distinct layouts, updated systems, and public water and sewer.
Where is this duplex located?
The property is located at 1760&1766 Mason Terrace Melbourne, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,432 square feet on 0.26 acres; Unit mix includes 3 bed/2 bath and 2 bed/2 bath residences; Each unit has its own 1‑car garage; additional parking serves the 3‑bedroom unit
