$601,500
●
House -
Off Market
1987 Highland Avenue
Melbourne, FL 32935
4 Beds
3 Baths,
1
Half Bath
2,700 Ft²
$599,859
RealtyHop Estimate
-0.27%
Since Aug 1, 2023
National-US
Primary Model
About This Property
This was an off-market sale of a home with strong bones but very
distressed inside. Home was not in condition to go full market with
people living in it and Sellers were seeking an off-market sale.
The home has ancillary structures that the Buyer was not sure would
be salvageable until after it was vacant. The home was still filthy
at the time of closing and definitely ready for someone to bring
her back to life.
Unit Size
2,700 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$223
Property Type
House
Property Taxes
$270
HOA Dues
-
Year Built
2013
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 6 months ago (Space Coast MLS #969882)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 4, 2025 | Listed | $765,000 | |
| Listed | |||
| | |||
|
RARE MIXED-USE PROPERTY BUILT IN 2013 ZONED C-1 IN THE EAU GALLIE ARTS DISTRICT...WITH POOL!!! The sky is the limit on this custom-built property currently used as second home and short-term rental and with mostly brand new furnishings throughout which are optional. Potential options for this location include AirBNB, Bed N Breakfast, Assisted Living, Doggie Daycare, Medical, Spa or Professional Office (subject to verification). One area of backyard remains incomplete for your vision...inquire about plans for wellness getaway. New construction riverfront homes 1 block away list over $2M in this area undergoing considerable improvement
| |||
| Sep 5, 2024 | Listed | $765,000 | |
| Listed | |||
| | |||
|
A MIXED-USE 4/3.5 SINGLE FAMILY CUSTOM POOL HOME IN THE HISTORIC EAU GALLIE ARTS DISTRICT...BUILT IN 2013!!! This home surprises everyone who walks through the door! It offers the most unique spacious layout nestled amongst a myriad of homes built mostly between the 1800's and the 1960's, is one block from new construction selling at $2.3M, one mile from Downtown EGAD, and 4 miles to the beach. No other property like this exists! A true split floorplan, two en suites are at separate corners of the home and two other bedrooms are on the other side with a common bath dividing them. There is also a 1/2 bath with pool access and a very large second floor room (not accounted for in SF) that can be finished as a 5th bedroom, loft, or simply storage. As you enter, the front room offers formal living and dining or workspace before an arched entry leads you to a HUGE center room with open kitchen, casual dining, and living space overlooking the backyard with large pool. Gorgeous inside!!
| |||
| Jul 10, 2023 | Sold | ||
| Sold | |||
| Jun 20, 2023 | Listed by Non-MLS or Out of Area | $601,500 | |
| Listed by Non-MLS or Out of Area | |||
| Oct 15, 2022 | No longer available | - | |
| No longer available | |||
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Property Highlights
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Parking Available
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Melbourne
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Listed by: Private Sale, Non-MLS or Out of Area
Last Updated: 6 months ago
Data Source: Space Coast MLS, MLS# 969882
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Last Updated: 6 months ago
Data Source: Space Coast MLS, MLS# 969882
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