38
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405 5th Avenue
About This Property
laundry sink. Mother- In-law suite.
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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 |
|---|---|---|---|
| May 29, 2026 | Sold | ||
| Sold | |||
| May 13, 2026 | In contract | - | |
| In contract | |||
| Apr 21, 2026 | Listed by One Sotheby's International | $925,000 | |
| Listed by One Sotheby's International | |||
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Tucked just behind Ocean Avenue in the heart of Melbourne Beach, this concrete block home offers a rare combination of location, lot size, and livability, placing you moments from the area's most loved dining, local markets, and beach access, without sacrificing privacy. Set on a .34-acre lot, the property features a 3-car garage, a true rarity for the area, along with a well-designed split floor plan across 4 bedrooms and 3 full baths. Inside, engineered hardwood flooring runs throughout, complemented by quartz countertops, a gas range with double ovens, and a gas fireplace that anchors the main living space. A secondary en-suite bedroom is set apart from the primary, offering flexibility for guests or extended stays. The backyard is where the property separates itself. Designed with a true resort-style feel, it centers around a large heated saltwater pool with ample space to lounge, entertain, and unwind in a private setting. Impact windows and shutters provide peace of mind, and short-term rentals are allowed, adding another layer of versatility.
A well-rounded offering in one of the most desirable pockets of Melbourne Beach, just 15 minutes to Melbourne-Orlando International Airport, 45 minutes to Orlando, and 30 minutes to Cape Canaveral.
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| Jul 23, 2020 | Sold | ||
| Sold | |||
| Jun 4, 2020 | Listed by RE/MAX Alternative Realty | $639,000 | |
| Listed by RE/MAX Alternative Realty | |||
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About Melbourne Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017