21
Map
120 Heron Drive
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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 |
|---|---|---|---|
| Oct 1, 2025 | Sold | ||
| Sold | |||
| Jul 29, 2025 | In contract | - | |
| In contract | |||
| Jun 22, 2025 | Listed by Denovo Realty | $1,150,000 | |
| Listed by Denovo Realty | |||
| | |||
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Like-New 2021 Pool Home in South Melbourne Beach!
This beautiful 4-bed, 3-bath coastal retreat has over 2,800 sq ft of move-in-ready living space. Built by Lifestyle Homes with concrete block exterior construction on both floors (excluding one wall), this home combines modern comfort with timeless craftsmanship.
10-ft ceilings, crown molding, and modern finishes create an inviting, upscale atmosphere. The modern kitchen has a large island perfect for entertaining, while a nearly 400 sq ft upstairs bonus/media room offers flex space for movie nights, a playroom, or a home office.
Private backyard oasis with a heated saltwater pool and spa, ideal after a day at the beach. Space for RV or boat parking—a rare find this close to the coast.
Low HOA has private ocean (with parking!) & river access, this home offers the ultimate Florida lifestyle. As a forever home or a vacation getaway, this one delivers.
Live the beachside dream—schedule your private showing today!
| |||
| May 6, 2020 | Sold | ||
| Sold | |||
| Aug 14, 2019 | No longer available | - | |
| No longer available | |||
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About Melbourne Shores
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017