Waterfront Duplex Plus Key West
For Sale
$900,000
4158+4160 NE Indian River Dr, Jensen Beach, FL 34957
Waterfront duplex and cottage, renovated, potential for resort/commercial development.
Property Size1,772 SF
Lot Size0.71 Acres
Days on Market276
Property Features for 4158+4160 NE Indian River Dr
General Information
Standard status
Active
Size
1,772 SF
Lot size
0.71 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,460
Building Details
Building Size
1,772 SF
Year Built
1956
Units
3
Listing Agency:
(772) 475-5079
Listed By:
Janice Wacha · License #193613
(772) 475-5079
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 27
Last Checked: Aug 30 at 4:42PM
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 Janice Wacha
Investment Insights
Based on property information with market context.
This property features a waterfront duplex and a Key West cottage, consisting of two separate buildings. The duplex units are arranged front to back. The duplex has been fully renovated, including a metal roof, impact windows, central air-conditioning, and new appliances. In addition to its current use, the properties have the potential for development as a small resort or commercial property.
Key Highlights
- Waterfront property with duplex and Key West cottage
- Fully renovated duplex with metal roof and impact windows
- Development potential as a small resort or commercial property
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
$26,022
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
2.89%
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%
$520,440
$520.4K
Cap Rate 7%
$371,743
$371.7K
Cap Rate 9%
$289,133
$289.1K
Market Conditions
NOI Build-Up for 1,772 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
$39.3K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$37.2K $20.98/SF
− OpEx
−$11.2K −$6.29/SF
NOI
$26.0K $14.69/SF
Area
Martin County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$520,440
Cap Rate 7%
$371,743
Cap Rate 9%
$289,133
Alternative Uses
Best Use
Multifamily LT 5
$371.7K
$325.3K – $433.7K
NOI $26,022 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.5K
NOI $21,628 @ 7.0% cap · market cap 2.40%
Theoretical Best
Retail
$465.5K
$407.3K – $543.1K
NOI $32,587 @ 7.0% cap · market cap 3.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 34957, FL
22,955
Population
17,269
Households
1.3
Avg Household Size
59
Median Age
39%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
1,400
Density / Sq Mi
$65,658
Median Household Income
$41,973
Median Earnings
$1,518
Median Rent
$378,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Waterfront duplex and cottage, renovated, potential for resort/commercial development.
Where is this duplex located?
The property is located at 4158+4160 NE Indian River Dr Jensen Beach, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Waterfront property with duplex and Key West cottage; Fully renovated duplex with metal roof and impact windows; Development potential as a small resort or commercial property
