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Property profile & analytics
OFF-MARKET
Estimated value
$4,000,000
Apartment buildings
1625 Elizabeth St Melbourne, FL 32901-4323
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-6087546
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,944 SF
Lot
0.75 ac (32,670 SF)
Zoning code
R3
APN
28-37-04-01-0000H.0-0016.00
UPID
US18-6087546
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.04M
Blend (final)
Blend
$4.00M
Owner & transaction history
Empire Magnolia Florida LLC · 4 yrs held
Empire Magnolia Florida LLC
since 2022
Last sale
$3.9M
6 recorded transactions
Zoning & alternative use
R3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,035,000
ML approach
$4,135,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $3.90M (Mar 29 2022)
Last sale anchor
$3.90M
Mar 29 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,014 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,714
Tax year 2023
Assessed value
$2,997,020
Assessed 2023
Previous assessed
$2,592,700
+15.6% YoY
Effective rate
1.83%
On assessed value
Assessed land
$120,000
Assessed improvement
$2,877,020
Land market value
$120,000
Improvement market value
$2,877,020
Total market value
$2,997,020
Applied tax rate
53.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
2
Units
8
Bathrooms
1
Total area
3,944 SF
Lot
0.75 ac (32,670 SF)
Zoning code
R3
APN
28-37-04-01-0000H.0-0016.00
UPID
US18-6087546
Jurisdiction
BREVARD
Zoning & alternative use
R3 · Melbourne, FL
Zoning R3 · permitted uses
R3 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
5
Units
8
Bathrooms
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Empire Magnolia Florida LLC
Entity
Mailing address
3901 MANAYUNK AVE APT #103, PHILADELPHIA, PA 19128-5113
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
$3,898,000
Empire Magnolia Florida LLC
Magnolia 108 LLC
Special Warranty Deed
$3,264,765 · Lima One Capital LLC
Nov 19, 2019
—
Magnolia 108 LLC
—
Deed
related
$1,762,500 · Iberiabank
Jul 1, 2019
$2,300,000
Magnolia 108 LLC
Bordeaux 24 LLC
Warranty Deed
—
Aug 6, 2015
$1,345,100
Bordeaux 24 LLC
Boozer Properties LLC
Warranty Deed
$874,250 · Private Individual
Apr 25, 2003
—
Properties Boozer
Boozer,fred
Quit Claim Deed
related
—
—
—
Magnolia 108 LLC
—
Deed Of Trust
related
$1,762,500 · Iberiabank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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