74
Map
218 Fifth Avenue
About This Property
Step outside and discover your private oasis, with an oversized pool, a gazebo, a firepit, and ample space for outdoor fun. The coral wall, hand-built by the original owner, features a hidden room-a whimsical clubhouse or secret hideaway for the kids. Open sliders reveal the sprawling backyard and pool area, where you can enjoy cool ocean breezes under the breezeway while watching the game. This updated home, only the second ever owned, is perfectly located with semi-private beach access just at the end of the street, plus easy access to Gemini Elementary, Flutie Field, shopping, and more. Whether you're seeking a family home or a fantastic Airbnb opportunity, this property offers endless potential and charm.
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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 |
|---|---|---|---|
| Mar 14, 2025 | Sold | ||
| Sold | |||
| Feb 24, 2025 | In contract | - | |
| In contract | |||
| Jan 14, 2025 | Price Decreased |
$849,982
↓ $25K
(2.9%) | |
| Price Decreased | |||
| Nov 20, 2024 | Price Decreased |
$874,982
↓ $20K
(2.2%) | |
| Price Decreased | |||
| Oct 25, 2024 | Listed by Engel & Voelkers Melb Downtown | $894,982 | |
| Listed by Engel & Voelkers Melb Downtown | |||
Property Highlights
Building Info
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Status
Price/ft²
Listed On
Sold On
About Melbourne Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017