22
Map
5085 Palm Drive
About This Property
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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 14, 2025 | Sold | ||
| Sold | |||
| Oct 30, 2025 | In contract | - | |
| In contract | |||
| Sep 11, 2025 | Listed by RE/MAX Elite | $850,000 | |
| Listed by RE/MAX Elite | |||
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Rare beachside pool home w/ guest qtrs, just 300 steps from the ocean! No HOA & potential for short-term rental income. Main home includes 3BR + office, 2.5 baths, tile throughout, kitchen w/island, granite counters, SS appliances, bar area, nook, & flex space for dining or pool table. Upstairs owner's suite opens to a private balcony & offers dual sinks, shower & jetted tub. Guest qtrs (living, kitchenette & bath) open through dual French doors to the 40-ft pool & brick-paved patio, creating a retreat for guests, in-laws, or Airbnb potential (verify). Key features: hurricane impact windows & doors, plantation shutters, water softener, 2016 roof, AC units 2023 and 2018. Outside, relax by the oversized deck or dive into the large pool. Enjoy Melbourne Beach's most private shoreline, perfect for surfing, sunrise walks & biking. Close to river launches & parks. Here, life feels effortless, weekends stretch longer & the setting turns routines into lasting memories. 12hr. kick out clause.
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| Jun 26, 2017 | Sold | ||
| Sold | |||
| Apr 21, 2017 | Listed by Dale Sorensen Real Estate Inc. | $499,000 | |
| Listed by Dale Sorensen Real Estate Inc. | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017