14
Map
$241,500
●
House -
For Sale
5120 Martin Lane
Melbourne, FL 32904
3 Beds
2 Baths
1,228 Ft²
$1,361
Est. Monthly
About This Property
APPROVED SHORT SALE PRICE!! Welcome Home. This charming property is
ready for the next owners. This 3-bedroom, 2-bathroom house has so
many possibilities. The roof was replaced in 2021 as were the solar
panels. In addition, the solar panels have no assumable payments as
they are paid off. Water heater was replaced in 2018, the
electrical system has been brought up to code, and the original
windows were replaced with double pane storm resistant windows for
added security. The yard is completely fenced in and the addition
in the rear of the home adds so much more square footage to the
footprint of the property. There is one room that was in the middle
of being finished before the sellers had to move, but the flooring
is included with the house, just needs to be installed. Come take a
look today and imagine the possibilities of living here. With a
highly centralized location close to everything you would need, you
can make this your perfect home!
Unit Size
1,228 Ft²
Days on Market
116 days
Land Size
0.17 acres
Price per sqft
$197
Property Type
House
Property Taxes
$174
HOA Dues
-
Year Built
1959
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 2 months ago (Space Coast MLS #1061386)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 25, 2026 | Relisted | $264,900 | |
| Relisted | |||
| Jun 25, 2026 | Price Decreased |
$241,500
↓ $23K
(8.8%) | |
| Price Decreased | |||
| Mar 12, 2026 | In contract | - | |
| In contract | |||
| Nov 18, 2025 | Price Decreased |
$264,900
↓ $5K
(1.9%) | |
| Price Decreased | |||
| Nov 5, 2025 | Listed by Engel & Voelkers Melb Downtown | $269,900 | |
| Listed by Engel & Voelkers Melb Downtown | |||
Show More
Property Highlights
Parking Available
Air Conditioning
Parking Details
Has Carport
Parking Features: Carport, Covered
Interior Details
Full Bathrooms: 2
Appliances: Dryer, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer
Flooring Type: Laminate, Tile
Laundry Features: In Unit
Exterior Details
Square Footage: 1228
Square Footage Source: $0
Architectural Style: Ranch
Year Built: 1959
Other Structures: Shed(s)
Construction Materials: Block, Frame, Stucco
Lot Features: Other
Lot Size Area: 0.17
Lot Size Units: Acres
Lot Size Acres: 0.17
Lot Size Square Feet: 7405
Water Source: Public
Financial Details
Tax Annual Amount: $2,093
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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ft²
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HOA + Taxes
About Cannova Park
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Listed by: Bradley Griffin, Engel & Voelkers Melb Downtown
Last Updated: 2 months ago
Data Source: Space Coast MLS, MLS# 1061386
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Last Updated: 2 months ago
Data Source: Space Coast MLS, MLS# 1061386
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