395 Spoonbill Lane
About This Property
Subdivision of Beautiful Melbourne Beach. The Lots may be purchased separately or
together. Lot 385 has a Boat Slip = MLS 723030. The town of Melbourne Beach was Established in
1883, and has been a Thriving Active Community ever since. Located Between the
Atlantic Ocean and the Indian River Lagoon, With Beach Parks, a Fishing Pier,
Excellent Restaurants, A Publix and a Great new Public Library all close by, Melbourne
Beach is the Ideal Beach Town.
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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 |
|---|---|---|---|
| Nov 8, 2024 | Sold | ||
| Sold | |||
| Sep 19, 2024 | In contract | - | |
| In contract | |||
| Sep 6, 2024 | Listed by BHHS Florida Realty | $800,000 | |
| Listed by BHHS Florida Realty | |||
| | |||
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Incredible Investment Opportunity - Waterfront Canal Home in Melbourne Beach. This partially completed single-family home, located on a desirable waterfront canal in Melbourne Beach, offers a rare and exciting opportunity for investors or builders looking to finish a custom property in a prime location. With stunning canal views and direct access to the water, this property promises both luxury and convenience for future owners.
The home features installed windows and doors, offering a solid start to the construction process. With much of the groundwork already completed, this is the perfect chance for an investor or builder to step in, bring their vision to life, and capitalize on the booming demand for waterfront living.
Imagine completing this beautiful home with your own personal touches, creating a modern oasis that takes full advantage of its coastal surroundings. The potential for value growth here is significant, whether the goal is to flip or hold as The potential for value growth here is significant, whether the goal is to flip or hold as a long-term investment.
Don't miss the opportunity to complete this waterfront gem in one of Melbourne Beach's most sought-after locations!
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| May 5, 2022 | Sold | ||
| Sold | |||
| Jun 16, 2015 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017