2416 Lee Avenue
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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 10, 2025 | Sold | ||
| Sold | |||
| Sep 10, 2025 | In contract | - | |
| In contract | |||
| Sep 4, 2025 | Listed by Glover Properties | $329,900 | |
| Listed by Glover Properties | |||
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Welcome to Melbourne living at its finest! This beautifully updated 3-bedroom, 2-bath home offers the perfect mix of comfort, convenience, and location. Recent upgrades include a new roof (2023), new water heater and water supply lines (2023), and HVAC (2020), giving you peace of mind for years to come. Inside, the bright and open floor plan features a spacious living area that flows easily into the dining room and kitchen, making it ideal for entertaining and everyday living. The primary suite includes its own en-suite bath, while two additional bedrooms and a second full bath provide plenty of flexibility for family, guests, or a home office. Off the back of the home, you'll find a versatile bonus room filled with natural light, perfect as a playroom, fitness space, media room, or creative studio to fit your lifestyle. A private backyard and two-car garage add even more convenience and functionality. The location truly sets this home apart. Just minutes away, vibrant Downtown - Melbourne offers a lively mix of restaurants, boutique shops, craft breweries, art galleries, and a growing nightlife scene. Catch live music on the weekends, explore community events and festivals, or enjoy a stroll along the scenic waterfront. In addition, the area boasts easy access to Brevard's pristine beaches, golf courses, parks, and nature preserves, plus a quick drive to the Orlando-Melbourne International Airport and the Space Coast's top employers. Whether you're seeking a family home, an investment property, or simply the chance to enjoy the Florida lifestyle to the fullest, this move-in ready home is a standout opportunity in one of Melbourne's most desirable areas.
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| Aug 4, 2014 | Sold | ||
| Sold | |||
| May 1, 2014 | Listed by Coldwell Banker Realty | $109,900 | |
| Listed by Coldwell Banker Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017