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Melbourne Beach 32951 The River Colony West
523 Andrews Drive
$409,000
● House - Off Market

523 Andrews Drive

Melbourne Beach, FL 32951
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,135 Ft²
$568,441
RealtyHop Estimate
36.97%
Since Sep 1, 2020
National-US
Primary Model

About This Property

Private oasis in highly desired SOFA area of Melbourne Beach.  CLOSE TO BEACH, ONE HOUSE FROM INDIAN RIVER & A-RATED SCHOOLS. This 4 Bedroom 3 bath home features a light and airy open floor plan making the living areas flow generously into the kitchen. Extremely well maintained. Beautiful Terrazzo Floors.  Kitchen features Solid Wood Cabinetry and very open concept not typically found in this era home.  Screened Back Patio overlooks lush back yard.
Unit Size
2,135 Ft²
Days on Market
31 days
Land Size
0.27 acres
Price per sqft
$194
Property Type
House
Property Taxes
$222
HOA Dues
-
Year Built
1964

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 5 months ago (Space Coast MLS #879435)

Price History

Date / Event Date Event Price
Aug 17, 2020 Sold
Premium
Sold
Jul 2, 2020 Listed by EXP Realty, LLC $415,000
Listed by EXP Realty, LLC

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1964
  • Effective Year Built: 1993
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 10
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 484
  • Parking Space Count: 2
  • Patio Type: 17
  • Porch Type: 126
  • Pool Type: 0
  • Location Influence Type: 179

    Dimensions

  • Lot Size Square Feet: 11,761
  • Lot Size Depth Feet: 1,170
  • Lot Size Frontage Feet: 1,020
  • Total Building Area: 2,634
  • Gross Building Area: 2,634
  • Building Area: 2,135
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,135
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RIVER COLONY WEST SECTION, THE
  • Land Acres: 0000000270
  • Standard Land Use Code: 1001
  • County Land Use Code: 0110
  • State Land Use Code: 001
  • Legal Description 1: RIVER COLONY WEST SECTION, THE LOT 2 BLK J

Neighborhood

  • School District Name: Brevard County School District
  • Census Tract: 066101

Zoning

  • Zoning: 1RS

Geography

  • Assessors Map Reference: 327
  • Account Number: 2847301
  • Parcel: 28-38-06-79-0000J.0-0002.00
  • Block: J
  • Lot: 2
  • Meridian: SEC 06 TWN 28S RNG 38E
  • Municipality: MELBOURNE BEACH
  • Latitude: 28.0724
  • Longitude: -80.5669

    Address

  • Full Address: 523 Andrews Dr
  • Address - House Number: 523
  • Address - Street Name: Andrews
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Melbourne Beach
  • Carrier Code: C001
  • 4-Digit Zip Code: 2157
  • Zip Code: 32951

Valuation

    Tax

  • Total Area: 2,482
  • Tax Year: 2022
  • Tax Amount: $522,402
  • Tax Rate Code Area: 34X0

    Appraisal Valuation

  • Standard Deviation: 0.1969
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 73
  • Final Value: 730,663
  • High Value: 874,537
  • Low Value: 586,789

    Market Valuation

  • Market Total Value: $525,190

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $370,740

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Aug 03, 2020
  • Current Sale Recording Date: Aug 17, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2020175945
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About The River Colony West

Stats & Trends

Median Asking:

$2,395,000

Sale Price/ft²

$713

Above Asking

0.04%

Average Days on Market

47

Average Home Size

3361 ft²

Average Home Age

54 years

Currently For Sale

0 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 904 Wave Crest Avenue, Indialantic, FL, 32903

$2,785 /mo

  • 2 Beds
  • 2 Baths
  • 1,050 ft²
904 Wave Crest Avenue #B13, Indialantic, FL, 32903 Listing by Natasha Noemi Lorenzo
Unit for rent at 210 6th Avenue, Indialantic, FL, 32903

$2,350 /mo

  • 1 Bed
  • 1 Bath
  • 750 ft²
210 6th Avenue #6, Indialantic, FL, 32903 Listing by Lisa Campbell

Rentals Near You

Click here to view more rentals in the neighborhood.
SpaceCoast

Listed by: Holly Dandridge Madden, EXP Realty, LLC
Last Updated: 5 months ago
Data Source: Space Coast MLS, MLS# 879435
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.

Frequently Asked Questions

When was property at 523 Andrews Drive built and last sold?
The property at 523 Andrews Drive was built in 1964 and last sold on Aug 3, 2020 for $415,000.
How much is this home worth?
The estimated value of the home located at 523 Andrews Drive is $0.
What are some comparable homes to 523 Andrews Drive?
There are currently no comparable homes to 523 Andrews Drive.
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