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About This Property
Discover the perfect opportunity to build your dream home on this beautiful 0.26-acre corner lot, ideally located just moments away from the Florida Institute of Technology. This cleared and ready-to-build parcel is zoned for single-family residences, offering a spacious setting for your future home.
Situated in a highly sought-after area, this lot is in close proximity to downtown Melbourne, providing easy access to a variety of shopping, dining, and entertainment options. Enjoy the convenience of being near top local employers, making your commute a breeze.
You already know vacant land in Melbourne is a rare find, don't miss out on this exceptional opportunity to invest in one of Melbourne's most desirable neighborhoods. Build your custom home and take advantage of everything this vibrant community has to offer!
Contact us today for more information and feel free to drive by to see it for yourself.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 10, 2024 | Sold | ||
| Sold | |||
| Aug 3, 2024 | In contract | - | |
| In contract | |||
| Jul 18, 2024 | Listed by Glover Properties | $70,000 | |
| Listed by Glover Properties | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017