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640 Old Oak Street
About This Property
Discover the charm and character of this inviting cottage in the heart of the Eau Gallie Arts District, where restaurants, art galleries, boutiques, and the scenic riverfront are just a short walk away. Enjoy the gentle river breeze from the backyard and a quick 15-minute drive to the ocean.
Set along a charming, shaded street, this beautifully maintained home offers 4 bedrooms and 2 full bathrooms, with a flexible layout ideal for a residence, guest accommodations, or an in-home business. The addition includes 2 bedrooms with a private entrance, providing excellent potential for multigenerational living, rental income, or a separate guest suite.
Inside, you'll find original wood floors, remodeled bathrooms, classic moldings, and timeless character throughout. A welcoming front porch adds to the home's curb appeal, while the Chicago brick entry brings an extra touch of historic charm.
The property is being offered with a vacant lot . Residential building lot- LAST ONE AVAILABLE TO BUILD . Lot address is 646 Old oak street assigned in 2008 per city of Melbourne. This is RARE opportunity to purchase home that can be rental / ADD new home in the future /expend existing home /add guest accommodation / Young starting out couples/ winter gateway stay / retired couples ready to start best chapter of their life / Multifamily accommodations / or simply KEEP GARDEN growing .
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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.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017