33 W Melbourne Avenue
About This Property
WALK 6 blocks to downtown Melbourne.
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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 |
|---|---|---|---|
| May 12, 2026 | Sold | ||
| Sold | |||
| Apr 11, 2026 | In contract | - | |
| In contract | |||
| Jan 12, 2026 | Price Decreased |
$399,000
↓ $16K
(3.9%) | |
| Price Decreased | |||
| Dec 8, 2025 | Listed by Waterman Real Estate | $415,000 | |
| Listed by Waterman Real Estate | |||
| | |||
|
Now offered at $399,000.
This beautifully updated Melbourne home sits on a spacious corner lot with a circular driveway plus a second driveway -- rare flexibility that provides ample parking for owners, guests, or short-term rental potential.
Inside, new tile flooring runs throughout, and the converted carport adds approximately 300 sq ft of conditioned flex space -- perfect for a home office, gym, playroom, or additional guest space. Impact windows, a full repipe (service and waste lines), upgraded electrical, and a newer water heater (2025) offer peace of mind. HVAC (2016) and roof (2014).
The primary suite features a walk-in shower and bonus space ideal for a desk or workout nook.
The fenced backyard and wraparound covered patio create a private setting for entertaining or relaxing. Just minutes to Historic Downtown Melbourne's shops, dining, and riverfront events, with easy access to Melbourne Orlando International Airport and major employers. Ideal as a primary residence, seasonal home, or Airbnb investment.
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| May 23, 2014 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017