2502 Ruffner Road
About This Property
Discover a one-of-a-kind opportunity to own this charming 3-bedroom, 3-bath home with a rare walkout basement, located in the heart of Melbourne. Situated on a picturesque lot with Crane Creek running through the backyard, this home offers tranquility and character, just a short stroll from Florida Tech and minutes from downtown.
Step inside to find original hardwood floors that exude timeless charm, complemented by newer windows that fill the space with natural light. The home boasts brand-new air conditioning, upgraded plumbing, and modernized electrical systems, ensuring comfort and peace of mind. The walkout basement is a unique feature for Florida, offering plenty of storage space or the potential for additional living areas.
Outside, enjoy a beautiful backyard with serene water views and ample space for entertaining or relaxing. Don't miss this truly unique Florida home!
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017