4049 Wilkes Drive
About This Property
The 4th bedroom, at front of house would be a great office/den. Trussed screened porch overlooks the lake In the heart of Melbourne! Interior will need lots of TLC!
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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 7, 2025 | Sold | ||
| Sold | |||
| Sep 3, 2025 | In contract | - | |
| In contract | |||
| Jul 28, 2025 | Price Decreased |
$375,000
↓ $25K
(6.2%) | |
| Price Decreased | |||
| May 23, 2025 | Price Decreased |
$399,900
↓ $10K
(2.5%) | |
| Price Decreased | |||
| May 14, 2025 | Listed by Pastermack Real Estate | $410,000 | |
| Listed by Pastermack Real Estate | |||
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Updated 4 bedroom 2 bath waterfront home conveniently located in the Belle Terrace neighborhood. Bright and light with an open floor plan, high ceilings & tile throughout. Primary bedroom features an ensuite bath with separate tub and large walk in shower. Covered screened porch overlooks peaceful lake. 2 car garage and interior laundry room.
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About Melbourne
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017