3 months on rocket

704 E Lincoln Ave, Melbourne, FL, 32901

$795,000

Home List Price

$9,441*

Closing Credit

0 Baths
2,619 SqFt
$304/SqFt
Multi

Location

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704 E Lincoln Ave, Melbourne$795,000

Buyer Closing Credits

$9,441*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Year Built1926
HeatingCentral, Zoned
CoolingCentral Air, Zoned
MLS #O6242336
Lot Size0.20 Acres
StatusActive

About 704 E Lincoln Ave

PRICE IMPROVEMENT! TURN-KEY vacation rental investment opportunity 2 blocks from Historic Downtown. Operated as a professionally managed STR since 2018, the Lincoln Guest House has broad appeal to vacationers, students and professionals. This Spanish Colonial quadraplex apartment offers four one-bedroom/one-bath apartments metered separately. The units are fully furnished and thoughtfully decorated with a mix of modern aesthetic and old-Florida charm. The quad is within walking distance of restaurants, bars, shops with Indialantic beaches just over the causeway and easy access to US1 and A1A. Established STR operation with high occupancy currently listed on Airbnb, VRBO, direct website and mid-term channels. Professionally managed, property has a long income history, streamlined operations and software stack to optimize occupancy and rates. This is a great passive investment opportunity, turnkey self-managed STR or 1031 exchange. Professional management with Superhost status can continue. Improvements: new roof installed 2023 and 4 high-efficiency ductless AC systems also installed in 2023. Flexible C1 mixed-use zoning. Gross income of $110,000 (3 yr avg) with very high occupancy and steady income.

Property Details

Property Features

Property Information:

  • Year Built: 1926
  • Living Area: 2,619 SqFt

Listing Office:

  • Office Name: PINEAPPLE PLACE REALTY, LLC
  • Listing Agent: Andrea Aylett-Hosch

Interior Features

Interior Information:

  • Flooring Type: Ceramic Tile, Wood
  • Interior: Ceiling Fans(s), Window Treatments

Exterior Features

Exterior Information:

  • Private Pool: No
  • Exterior: Sidewalk

Virtual/3D Tour

  • Virtual Tour: 704 E Lincoln Ave
Virtual Tour

Lot Features

Lot Information:

  • Lot Size: 0.20 Acres

Utilities

Utilities Information:

  • Heating: Central, Zoned
  • Cooling: Central Air, Zoned

Other

Directions Information:

  • Directions: From I95 take SR192 505 miles towards Melbourne, then turn left on Livingston st., then right on E Lincoln Ave - the property is on your left

Price Information

Listing Price Info

Price Summary:

  • List Price: $795,000
  • Price Per SqFt: $304/SqFt

Tax Information:

  • Annual Amount: $5,750
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Melbourne, FL.

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Melbourne, FL

City

Med. Sold Price

$420K

Med. Price/SqFt

$236

Avg. Days On Market

65

# of Sold Homes

183

704 E Lincoln Ave vs Melbourne

93 DAYS ON ROCKET

+28 Days

$795,000

+$374.9K More

$304/SqFt

+$67 More

KEY TAKEAWAY

This property is $374.9K more than the Median Sold Price and $67/SqFt more than other homes in Melbourne, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MFRMLS
  • MLS Number: #O6242336

Listing Office:

  • Office Name: PINEAPPLE PLACE REALTY, LLC
  • Listing Agent: Andrea Aylett-Hosch

IDX Listings courtesy of Stellar MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:49:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 07, 2017Home Sold
$360,000
Aug 14, 2014Home Sold
$80,000
Oct 07, 2003Home Sold
$225,000
Jul 24, 2002Home Sold
$128,000

Tax History

YEARPROP. TAXASSESSMENT
2020$5,750$317,370
2019$5,639$293,860
2018$2,729$280,000
2017$2,729$125,000

History based on county public records data.

Payment Calculator

$4,035

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,450

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-828657
3
/10

  • University Park Elementary School

  • 500 W University Blvd

  • 1.74 miles

  • Public District Grades PK-6

school-card-donut-828658
10
/10

  • Indialantic Elementary School

  • 1050 N Palm Ave

  • 2.55 miles

  • Public District Grades KG-6

school-card-donut-828659
6
/10

  • Harbor City Elementary School

  • 1377 Sarno Rd

  • 3.37 miles

  • Public District Grades PK-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,704. Typical income of Melbourne, FL residents is less than $35k annually. Typical family type is single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Florida›Brevard County›Melbourne›32901›704 E Lincoln Ave

This home is located at 704 E Lincoln Ave in Melbourne, FL and zip code 32901. This 2,619 square foot home, which was built in 1926, sits on a 0.20 acre lot. It has been listed on Rocket Homes since September 19, 2024 and is currently priced at $795,000.

While more than 6 listings in Melbourne, FL in November 2024 were sold above asking price, there were more than 43 listings sold at asking price, and more than 134 were sold below. Between October 2024 and November 2024, Melbourne, FL real estate market has seen increase in the number of listings by 2.9%. In November 2024, listings were on the market for 65 days. During the same period, the median list price in this real estate market was $420,005.

From Rocket Homes Real Estate and based on county public records data.

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