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    Merritt Island, FL Residential Income Properties for Sale

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    Melbourne, FL Rockledge, FL Cocoa Beach, FL
    Merritt Island Multifamily Investment Opportunity
    $395,000
    2,243 SF
    Merritt Island Multifamily Investment Opportunity

    347 W Merritt Avenue, Merritt Island, FL 32953

    Duplex with triplex conversion potential near schools, shopping, and restaurants.
    • Potential for immediate income generation as a duplex.
    • Easily convertible back to a triplex for increased rental income potential.
    • Includes a spacious 2‑bedroom, 1‑bath unit, plus two 1‑bedroom, 1‑bath units (in triplex configuration).
    • Conveniently located less than two miles from all schools and blocks from Mila Elementary.
    • Proximity to shopping and restaurants.
    Updated: Feb 29, 2024
    View details
    Based on your search, we've compiled 53 Potential Opportunities for your consideration. Besides 1 Active listings in Merritt Island, FL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 44 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Updated Duplex in Rockledge, FL
    $425,000
    960 SF
    Updated Duplex in Rockledge, FL

    Updated duplex with income-generating units and modern amenities.

    985 S Fiske Boulevard S, Rockledge, FL 32955

    View details
    Rockledge Duplex with New Roof
    $214,000
    912 SF
    Rockledge Duplex with New Roof

    Well-maintained duplex on oversized lot, generating rental income.

    989 & 991 S FISKE BOULEVARD, Rockledge, FL 32955

    View details
    Waterfront Income Property in Cocoa
    $2,525,000
    Waterfront Income Property in Cocoa

    Unique waterfront property with multiple income-producing buildings in Cocoa Village.

    11 MITCHELL St, Cocoa, FL 32922

    View details
    Cocoa, FL Multifamily Community
    $1,380,000
    Cocoa, FL Multifamily Community

    12-unit multifamily community in Cocoa, Florida.

    150 Peachtree St, Cocoa, FL 32922

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Waterfront Land on Tropical Trail
    $899,000
    1.86 Acres
    Waterfront Land on Tropical Trail

    1.86 acres of waterfront property on the Indian River.

    0000 S. TROPICAL TRAIL, Merritt Island, FL 32952

    View details
    Central Merritt Island Land Parcel
    $300,000
    105,851 SF
    Central Merritt Island Land Parcel

    2.42 acres in central Merritt Island, zoned AU.

    280 Grove Boulevard, Merritt Island, FL 32953

    View details
    Buildable Home Lot
    $60,000
    0.28 Acres
    Buildable Home Lot

    A build-ready lot in a quiet neighborhood near the coast, offering flexible options for a primary home or investment.

    633 S VARR AVENUE, Cocoa, FL 32922

    View details
    Waterfront Land on Indian River
    $1,500,000
    1.29 Acres
    Waterfront Land on Indian River

    Vacant lot on Indian River, close to Banana River.

    2940 MARITIME LANE, Merritt Island, FL 32953

    View details

    Off-Market Properties in Merritt Island, FL

    Consider similar Off-Market properties in Merritt Island, FL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    3100 Tropical Trl Lot, Unit 2
    MOBILE HOME PARK, TRAILER PARK
    276 SF Lot: 2.40 Acres
    Value Estimation by Request
    Unit 2

    3100 Tropical Trl Lot, Merritt Island, FL 32952-6006

    View details
    1620 Hl Ave
    APARTMENT HOUSE (5+ UNITS)
    6,708 SF Lot: 0.30 Acres
    Value Estimation by Request

    1620 Hl Ave, Merritt Island, FL 32953-4322

    View details
    300 Kelly St, Unit 152
    MOBILE HOME PARK, TRAILER PARK
    612 SF Lot: 27.24 Acres
    Estimated value
    $2,930,000
    Unit 152

    300 Kelly St, Merritt Island, FL 32953-6734

    View details
    1165 Jordan Rd
    APARTMENT HOUSE (5+ UNITS)
    7,276 SF Lot: 8.47 Acres
    Estimated value
    $9,600,000

    1165 Jordan Rd, Merritt Island, FL 32953-4416

    View details
    229 Ligustrum Ln
    APARTMENT HOUSE (5+ UNITS)
    11,520 SF Lot: 6.08 Acres
    Estimated value
    $1,275,000

    229 Ligustrum Ln, Merritt Island, FL 32953-5501

    View details
    485 Tropical Trl
    APARTMENT HOUSE (5+ UNITS)
    9,178 SF Lot: 2.24 Acres
    Estimated value
    $1,400,000

    485 Tropical Trl, Merritt Island, FL 32952-4969

    View details
    3524 Ashley Ct, Unit 34
    MOBILE HOME PARK, TRAILER PARK
    300 SF Lot: 7.50 Acres
    Value Estimation by Request
    Unit 34

    3524 Ashley Ct, Merritt Island, FL 32953-8018

    View details
    600 Kurek Ct, Unit 118
    APARTMENT HOUSE (5+ UNITS)
    46,369 SF Lot: 3.86 Acres
    Estimated value
    $5,455,000
    Unit 118

    600 Kurek Ct, Merritt Island, FL 32953-4804

    View details
    442 Magnolia Ave
    APARTMENT HOUSE (5+ UNITS)
    18,333 SF Lot: 0.53 Acres
    Estimated value
    $1,620,000

    442 Magnolia Ave, Merritt Island, FL 32952-4869

    View details
    1155 Courtenay Pkwy
    APARTMENT HOUSE (5+ UNITS)
    34,494 SF Lot: 20.80 Acres
    Estimated value
    $2,735,000

    1155 Courtenay Pkwy, Merritt Island, FL 32953-4512

    View details
    88 Skylark Ave, Unit 1000
    APARTMENT HOUSE (5+ UNITS)
    83,600 SF Lot: 11.91 Acres
    Estimated value
    $11,695,000
    Unit 1000

    88 Skylark Ave, Merritt Island, FL 32953-3206

    View details
    1065 Loring Dr
    APARTMENT HOUSE (5+ UNITS)
    9,008 SF Lot: 8.65 Acres
    Estimated value
    $1,080,000

    1065 Loring Dr, Merritt Island, FL 32953-2506

    View details
    439 Magnolia Ave
    APARTMENT HOUSE (5+ UNITS)
    21,666 SF Lot: 1.38 Acres
    Estimated value
    $1,985,000

    439 Magnolia Ave, Merritt Island, FL 32952-4821

    View details
    155 Hacienda Dr
    Land
    Value Estimation by Request

    155 Hacienda Dr, Merritt Island, FL 32952

    View details
    475 Pine Island Rd
    Land
    Value Estimation by Request

    475 Pine Island Rd, Merritt Island, FL 32953

    View details
    00 Eddy St
    Land
    Value Estimation by Request

    00 Eddy St, Merritt Island, FL 32952

    View details
    5205 Tropical Trl
    Land
    Value Estimation by Request

    5205 Tropical Trl, Merritt Island, FL 32952

    View details
    3190 Courtenay Pkwy
    Land
    Value Estimation by Request

    3190 Courtenay Pkwy, Merritt Island, FL 32953

    View details
    9405 Tropical Trl
    Land
    Value Estimation by Request

    9405 Tropical Trl, Merritt Island, FL 32952

    View details
    29xx Newfound Harbor Dr
    Land
    Value Estimation by Request

    29xx Newfound Harbor Dr, Merritt Island, FL 32952

    View details
    690 Chase Hammock Rd
    Land
    Value Estimation by Request

    690 Chase Hammock Rd, Merritt Island, FL 32953

    View details
    00000 Tropical Tr-S Courtenay Pkwy
    Land
    Value Estimation by Request

    00000 Tropical Tr-S Courtenay Pkwy, Merritt Island, FL 32952

    View details
    373 Tropical Trl
    Land
    Value Estimation by Request

    373 Tropical Trl, Merritt Island, FL 32952

    View details

    Merritt Island, FL Residential Income Properties Investment Opportunities Market Analysis

    Explore 45 residential income properties for sale in Merritt Island, FL on our real estate platform. These investment opportunities span a total of 2,243 square feet of properties for sale, with an estimated market value of $395,000.

    Sale prices for residential income properties in Merritt Island, FL start at $395,000, averaging $395,000, and reaching up to $395,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 1
    Multifamily properties 1

    Demographics Overview

    Population 46K
    Population Growth (5Y) +2.9%
    Median Household Income $90,907
    College Educated 37.7%

    High-Yield Neighborhoods for Investment

    Identify Merritt Island submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    32953 $395K

    Taxes & Financing

    Tax Rate (average for all types) 1.03%
    Property Tax per SF $25.97 per SF
    Tax Rate vs County Average 0.32 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Brevard County

    New Delisted

    Total CRE Inventory on Market (SF)

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