5115 Madras Drive NW
About This Property
The first floor is built for both productivity and relaxation, centered around a versatile den with double French glass doors that serves as the perfect home office. A convenient half bath with a pedestal sink is tucked away nearby, while the heart of the home features a spacious Great Room brightened by additional LED flush mount lighting. This open-concept space flows seamlessly into a chef-inspired kitchen equipped with Shaker cabinets, quartz countertops, a walk-in pantry, and premium stainless steel appliances. Adjacent to the kitchen, a cozy kitchen nook provides the perfect spot for casual dining. For effortless indoor-outdoor living, head through the sliding doors to your screened-in lanai, overlooking partial water view of the community pond and a lush yard maintained by a built-in irrigation system and protected by hurricane shutters.
Follow the wrought iron handrail upstairs to discover a second level designed for the modern lifestyle. An open loft serves as a flexible media room or gym, surrounded by four spacious bedrooms and a second bath featuring a dual vanity and ceramic tile shower walls. The primary suite is a true sanctuary, boasting a tray ceiling with crown molding and a spa-like bath complete with a garden tub, enclosed walk-in shower, and a massive walk-in closet. For ultimate convenience, the full-size laundry room with appliance hook-ups is also located on this floor.
This home is as smart as it is beautiful, fully equipped with a Ring Video Doorbell, Smart Thermostat, Keyless Entry Smart Door Lock, and Deako switches for enhanced security and ease. Located just minutes from Fred Poppe Regional Park and Three Forks Conservation Area, Malabar Springs offers residents a resort-style pool, cabana, and scenic walking trails. The Carlisle is more than just a floor plan; it's the place you'll love to call home.
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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%.
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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.
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 |
|---|---|---|---|
| Aug 21, 2026 | In contract | - | |
| In contract | |||
| Jul 2, 2026 | Price Decreased |
$399,900
↓ $10K
(2.4%) | |
| Price Decreased | |||
| Mar 26, 2026 | Price Decreased |
$409,900
↓ $23K
(5.3%) | |
| Price Decreased | |||
| Mar 12, 2026 | Listed by New Home Star Florida LLC | $432,900 | |
| Listed by New Home Star Florida LLC | |||
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About Brevard
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017