5685 Lake Washington Road
About This Property
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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.
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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 |
|---|---|---|---|
| Dec 3, 2025 | Price Decreased |
$2,100,000
↓ $75K
(3.5%) | |
| Price Decreased | |||
| Aug 5, 2025 | Listed | $2,175,000 | |
| Listed | |||
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**ASSUMABLE 4.25% LOAN** Private Equestrian Oasis in the Heart of Melbourne - 5.5 Acres of Luxury Living
Welcome to your dream retreat — a fully renovated 4-bedroom, 3-bathroom estate set on 5.5 secluded acres in the heart of Melbourne, Florida. This rare property offers a harmonious blend of tranquil country living with immediate access to upscale shopping, fine dining, and Florida's stunning coastline.
From the moment you arrive beneath the newly constructed porte-cochere, you'll sense the craftsmanship and care that define this estate. Step inside to soaring vaulted ceilings with exposed beams, rich textures, and an inviting gas fireplace that anchors the open-concept living space. At the heart of the home is a chef's dream kitchen, equipped with premium Viking appliances, a gas range, and custom finishes — all overlooking your private backyard sanctuary. Just outside, a newly built resort-style pool with dual sun shelves invites you to unwind or entertain in pure Florida luxury. For equestrian lovers, this property is unmatched. The professionally designed 4-stall barn is built with concrete block and features a tack room, feed room, and a pre-framed apartment ready for conversion into guest quarters or groom's lodging. The barn is fully equipped with electric, water, cable, and RV hookups, and includes a riding ring and multiple paddocksperfect for training, leisure, or boarding. A serene waterway runs the length of the property, connecting directly to Lake Washington, renowned for freshwater fishing and water sports. Inside, enjoy three generous living areas ideal for entertaining or relaxed family living. The luxurious primary suite offers direct access to a private hot tub and features a hidden safe room with a full-size vault dooran exceptional detail offering both security and peace of mind.
Additional highlights include:
Whole-house generator powered by a 500-gallon propane tank
Extensive privacy without sacrificing location
Resort-level finishes throughout the home
Solar Array that powers barn and backfeeds to house
This Melbourne masterpiece is a true sanctuary combining modern luxury, equestrian excellence, and unrivaled location.
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| Nov 17, 2017 | Sold | ||
| Sold | |||
| Jul 30, 2017 | Listed | $799,900 | |
| Listed | |||
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Call ZACK SPURLOCK 321-544-9237 for personal tour! Beautiful WATERFRONT Modern-Rustic Farmhouse offering acreage, privacy, and everything the outdoor lover could dream. A canopy of mature oaks provide shade for much of the 5.45 acres which features 2 pasture, new round training pen and a fenced riding area which doubles as a 3rd pasture. Three board wooden fences with new metal fence & 2 boat ramps along 300ft of deep water canal to Lake Washington. Four stall barn w 1/2 bath, workshop w A/C andpotential living quarters upstairs. The house offers plenty of room to move around as well. Kitchen tastefully remodeled with loads of Marble counter space, Solid wood cabinets & farmhouse sink. New Master bathroom w large jetted tub & separate shower w beautiful marble accents. No expense spared with wood & marble flooring throughout much of the home. This location is a rare opportunity to enjoy privacy & acreage without giving up all the conveniences of town being at your fingertips.The manager has listed the unit size as 3256 square feet.
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| Jun 26, 2017 | Listed by RE/MAX Elite | $799,900 | |
| Listed by RE/MAX Elite | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017