38
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425 Sparrow Drive
About This Property
4 beds, 2 full baths, open concept floorplan with split bedrooms, hard surface flooring, gas appliances and inside laundry! Outside a Sparkling Heated screened in pool! An 80ft canal lot & boathouse with newer dock decking (2023), newer poles & boatlift cable (2023) and recently DREDGED CANAL (2025) Await you! The home also features a Metal Roof (2016) & a Generac Home Generator! The home has a two car attached garage PLUS a bonus outside Storage Room by Generator! Hurricane Shutters Surround the home! The canal has access to both the Banana River & Indian River! You will be a short distance to the beach, have easy access to I-95, restaurants, shopping, Holmes Regional Medical Center, Melbourne-Orlando International Airport, Northrop-Grumman, L3Harris, SpaceX, Blue Origin and more! Satellite Beach is about 30 minutes from NASA, KSC, Port Canaveral and about One hour from Disney World & Universal Studios
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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 25, 2025 | Sold | ||
| Sold | |||
| Oct 28, 2025 | In contract | - | |
| In contract | |||
| Oct 8, 2025 | Price Decreased |
$799,000
↓ $26K
(3.2%) | |
| Price Decreased | |||
| Sep 13, 2025 | Price Decreased |
$825,000
↓ $25K
(2.9%) | |
| Price Decreased | |||
| Aug 24, 2025 | Listed by Waves Realty | $850,000 | |
| Listed by Waves Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017