2488 Burns Avenue
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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%.
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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.
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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 30, 2025 | Sold | ||
| Sold | |||
| Oct 17, 2025 | In contract | - | |
| In contract | |||
| Aug 12, 2025 | Listed by RE/MAX ADVANTAGE | $235,000 | |
| Listed by RE/MAX ADVANTAGE | |||
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Charming Ranch-Style Retreat in Melbourne, FL
2488 Burns Avenue | 3 Bed | 1 Bath | Large Workshop | Fenced Yard
Nestled in the quiet, well-established Bowes Gardens neighborhood, this cozy ranch home offers the perfect blend of comfort and convenience.
Step inside to a bright, open living space featuring low-maintenance ceramic tile flooring, ceiling fans, and a functional kitchen equipped with essential appliances. The attached garage has been converted into a bonus room, providing flexible living space, and includes in-garage laundry for added ease.
The primary bedroom and one of the guest rooms feature brand new carpet, giving the home a fresh, move-in ready feel.
Enjoy outdoor living on a 6,500+ sq ft fully fenced lot, complete with a massive 20' × 30' workshop featuring a climate-controlled office, a storage shed, and a private driveway.
Just minutes from US-1, local beaches, top-rated schools, and shopping, this home offers peaceful suburban living with quick access to everything Melbourne has to offer.
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| Mar 15, 2018 | Sold | ||
| Sold | |||
| Feb 8, 2018 | Listed by Ellingson Properties | $125,900 | |
| Listed by Ellingson Properties | |||
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Last Updated: 6 months ago
Data Source: Space Coast MLS, MLS# 804882
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017