$429,000
●
House -
For Sale
703 SHADY LANE
MELBOURNE, FL 32935
2 Beds
1 Bath
916 Ft²
$2,524
Est. Monthly
About This Property
:Recently remodeled 1934 cottage in Melbourne's Eau Gallie Arts
District! This charming 2BR/1BA home offers 916 sq. ft. of
light-filled living with high ceilings and vintage character.
Central A/C. Metal roof. Wood flooring. Kitchen and bathroom were
recently renovated. Enjoy a private front yard, spacious back deck,
and detached shed with potential for workshop or guest suite. Walk
to breweries, shops, art galleries, and the library. Just 1 minute
to the Indian River and 5 minutes to the beach. Perfect as a
primary home or short-term rental, 703 Shady Lane combines
location, lifestyle, and investment potential in one rare find!
Unit Size
916 Ft²
Days on Market
264 days
Land Size
0.10 acres
Price per sqft
$468
Property Type
House
Property Taxes
$417
HOA Dues
-
Year Built
1934
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: 9 months ago (Stellar MLS #O6371273)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 3, 2026 | Sold | ||
| Sold | |||
| May 24, 2026 | In contract | - | |
| In contract | |||
| May 14, 2026 | Listed by Non-MLS or Out of Area | $429,000 | |
| Listed by Non-MLS or Out of Area | |||
   | |||
|
Ultra charming, vintage cottage near the blossoming Eau Gallie Arts District. Lovingly cared for is clean and move in ready! You'll love the high ceilings and abundance of natural light flowing throughout the home and the screened patio overlooking a 600+ sq ft deck under majestic Live Oaks. Detached 240 sq ft garage / workshop.
| |||
| Jan 6, 2026 | Listed by LANDMARK INVESTMENTS & REAL ESTATE | $429,000 | |
| Listed by LANDMARK INVESTMENTS & REAL ESTATE | |||
| Nov 7, 2025 | Listed by Landmark Investments & Real Estate | $429,000 | |
| Listed by Landmark Investments & Real Estate | |||
   | |||
|
Recently remodeled 1934 cottage in Melbourne's Eau Gallie Arts District! This charming 2BR/1BA home offers 916 sq. ft. of light-filled living with high ceilings and vintage character. Central A/C. Metal roof. Wood flooring. Kitchen and bathroom were recently renovated. Enjoy a private front yard, spacious back deck, and detached shed with potential for workshop or guest suite. Walk to breweries, shops, art galleries, and the library. Just 1 minute to the Indian River and 5 minutes to the beach. Perfect as a primary home or short-term rental, 703 Shady Lane combines location, lifestyle, and investment potential in one rare find!
| |||
Show More
Property Highlights
Garage
Air Conditioning
Fireplace
Interior Details
Full Bathrooms: 1
Interior Features: Walk-In Closet(s)
Appliances: Dryer, Microwave, Range, Refrigerator, Washer
Flooring Type: Hardwood
Laundry Features: Inside
Rooms: 4
Has Fireplace
Fireplace Features: Other
Exterior Details
Square Footage: 916
Square Footage Source: $0
Year Built: 1934
Building Area Total: 916
Levels: One
Building Area Units: Square Feet
Construction Materials: Wood Siding
Lot Size Area: 4356
Lot Size Units: Square Feet
Lot Size Acres: 0.1
Lot Size Square Feet: 4356
Lot Size Dimensions: 50 x 89
Tax Lot: 26
Water Source: Public
Financial Details
Tax Annual Amount: $5,002
Lease Considered: Yes
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : None
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Creels
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Listed by: Luiz Machado
LANDMARK INVESTMENTS & REAL ESTATE
Last Updated: 9 months ago
Data Source: Stellar MLS, MLS# O6371273
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. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
LANDMARK INVESTMENTS & REAL ESTATE
Last Updated: 9 months ago
Data Source: Stellar MLS, MLS# O6371273
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017