27
Map
620 Cherokee Avenue
About This Property
One of the best opportunities under $240,000 in Melbourne! This 3-bedroom, 2-bath home with a 1-car garage now features a brand-new A/C, giving buyers incredible value and peace of mind from day one. Inside, you'll find some updated interior finishes, NO carpet, a spacious interior laundry/utility room, and a functional layout designed for everyday living. Outside, enjoy a fully fenced backyard offering privacy and room for pets, play, or entertaining. A freshly painted exterior and a convenient location close to shopping, dining, schools, and major roadways make this home an exceptional find for first-time buyers, investors, or anyone looking for an affordable move-in-ready property.
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
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 |
|---|---|---|---|
| Sep 30, 2026 | Sold | ||
| Sold | |||
| Aug 10, 2026 | In contract | - | |
| In contract | |||
| Aug 5, 2026 | Price Decreased |
$235,000
↓ $10K
(3.9%) | |
| Price Decreased | |||
| Jun 26, 2026 | Price Decreased |
$244,500
↓ $5K
(2%) | |
| Price Decreased | |||
| May 11, 2026 | Listed by One Sotheby's International | $249,500 | |
| Listed by One Sotheby's International | |||
Property Highlights
Building Info
Comparables
Status
Price/ft²
Listed On
Sold On
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017