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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Apartment buildings
89 Irwin Ave West Melbourne, FL 32904-4069
Entity Owned
Free & Clear
Property ID
US18-6100691
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,960 SF
Lot
0.58 ac (25,265 SF)
Zoning code
R2
APN
28-37-05-02-0000C.0-0006.00
UPID
US18-6100691
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
$1.04M
CAP Approach
CAP
$940k
Comparable Approach
Comparable
$975k
Blend (final)
Blend
$945k
Owner & transaction history
8589 Nw Irwin Ave LLC
8589 Nw Irwin Ave LLC
since 2026
Last sale
$937,500
4 recorded transactions
Zoning & alternative use
R2 · West 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 West Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$1,010,000
ML approach
$1,035,000
CAP Approach
CAP Return
Estimation
6%
$1,015,000
6.5%
$940,000
7%
$870,000
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $938k (Apr 9 2021)
Last sale anchor
$938k
Apr 9 2021
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
$159 / 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
$9,155
Tax year 2023
Assessed value
$538,760
Assessed 2023
Previous assessed
$553,200
-2.6% YoY
Effective rate
1.70%
On assessed value
Assessed land
$34,650
Assessed improvement
$504,110
Land market value
$34,650
Improvement market value
$504,110
Total market value
$538,760
Applied tax rate
52.0000
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
2
Units
8
Bathrooms
1
Total area
5,960 SF
Lot
0.58 ac (25,265 SF)
Zoning code
R2
APN
28-37-05-02-0000C.0-0006.00
UPID
US18-6100691
Jurisdiction
BREVARD
Zoning & alternative use
R2 · West Melbourne, FL
Zoning R2 · permitted uses
R2 · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Melbourne. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
8
Bathrooms
1
Lot
0.58 ac
Current owner
From public records · entity-resolved
8589 Nw Irwin Ave LLC
Entity
Free & Clear · 0 yrs held
Mailing address
3975 LK WASHINGTON RD, MELBOURNE, FL 32934-7671
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2026
$1,455,000
8589 Nw Irwin Ave LLC
Van Property Group LLC
Warranty Deed
—
Apr 9, 2021
$937,500
Van Property Group LLC
Irwin Avenue Apartments LLC
Warranty Deed
$637,500 · Irwin Avenue Apartments LLC
Jun 5, 2017
$440,000
Irwin Avenue Apartments LLC
Mrzyglocki,margaret
Warranty Deed
—
Aug 7, 2001
$385,000
Hayden Trust
Hayden Trust
Grant Deed
related
—
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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