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230 Melbourne Avenue
About This Property
Welcome to coastal living in Indialantic's desirable SOFA District! Situated on an oversized corner lot just 1.5 blocks to the beach, this professionally designed 4BR/3BA home blends style, comfort, and functionality. Inside, enjoy pristine terrazzo floors and a bright, open layout that flows seamlessly to a large, covered lanai with a stunning tongue-and-groove ceiling and screened-in pool--perfect for relaxing or entertaining. A private-entry office, set apart from the main living area, offers ideal space for a home business or in-law suite. Major updates include a NEW ROOF installed prior to closing, impact windows, sliders and doors, full AC replacement (2021), new water heater, plus a new pool pump and salt system (2021). The oversized garage features a high-voltage outlet for EV or RV. A paver driveway and lush, mature landscaping complete the curb appeal. Designer furnishings are negotiable--move right in and enjoy beachside living!
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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 |
|---|---|---|---|
| Jun 8, 2026 | Sold | ||
| Sold | |||
| May 9, 2026 | In contract | - | |
| In contract | |||
| Apr 15, 2026 | Listed by Ohana East Coast Realty | $895,000 | |
| Listed by Ohana East Coast Realty | |||
| Dec 5, 2022 | Sold | ||
| Sold | |||
| Sep 9, 2022 | Listed by Ohana East Coast Realty | $750,000 | |
| Listed by Ohana East Coast Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017