NOT LISTED FOR SALE

108 Madison Ave Cape Canaveral, FL 32920

Estimated Value: $444,315 - $785,000

8 Beds
2 Baths
3,000 Sq Ft
$192/Sq Ft Est. Value

Last Sold August 17, 2018

Last sale price $375,000 $125 Per Sq Ft

Est. 53% increase in value since last sale

Current estimated payment $3,431/month

172 Days on Market

Highlights

  • No HOA
  • Tile Flooring
  • Central Air
  • Cocoa Beach Junior/Senior High School Rated A
  • 1-Story Property
  • 4-minute walk to Canaveral City Park

About This Home

As of August 2018

Fully leased 4-unit property great investment opportunity for $107,250 per unit. All units are leased with annual long term tenants. Parking in rear of property can accommodate 2 cars per unit with room to spare. Each unit has rear patio are with washing machine hook-ups. Property has 2 water meters, one for each building. New A/C system in unit 112-4 in July 2016. All units have central air. Roofs replaced in 2005.

Last Agent to Sell the Property

Joe Kovac

Kovac Real Estate License #3253209 Listed on: 12/28/2017

Last Buyer's Agent

Giuseppe Conoscenti

Prestige Florida Realty License #3233309

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,064

Year Built

  • Built in 1957

Lot Details

  • 0.29 Acre Lot

Home Design

  • Quadruplex
  • Shingle Roof
  • Concrete Siding
  • Block Exterior

Interior Spaces

  • 3,000 Sq Ft Home
  • 1-Story Property
  • Tile Flooring

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Schools

  • Cape View Elementary School
  • Cocoa Beach Middle School
  • Cocoa Beach High School

Utilities

  • Central Air
  • Cable TV Available

Listing and Financial Details

  • The owner pays for grounds care, insurance, sewer, taxes, trash collection, water
  • Assessor Parcel Number 24-37-23-Cg-00013.0-0011.00

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Avon By The Sea Subdivision

Building Details

  • Operating Expense $14,864
  • Gross Income $39,000
  • Net Operating Income $24,136

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,064

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1957
  • Reso Property Sub Type: Quadruplex
  • ResoLotFeatures: Other
  • ResoSpecialListingConditions: Standard
  • Subdivision Name: Avon By The Sea
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: One
  • Location Tax and Legal Parcel Number2: 24-37-23-Cg-00013.0-0011.00
  • Location Tax and Legal Elementary School: Cape View
  • Location Tax and Legal Middle School2: Cocoa Beach
  • Location Tax and Legal High School: Cocoa Beach
  • Location Tax and Legal Tax Annual Amount: 4064.0
  • Location Tax and Legal Tax Year2: 2017
  • General Property Information Living Area2: 3000.0
  • General Property Information Building Area Total3: 3000.0
  • General Property Information Lot Size Acres: 0.29
  • General Property Information Lot Size Square Feet2: 12632.0
  • General Property Information Waterfront YN: No
  • Cooling Central Air: Yes
  • Flooring Tile: Yes
  • Levels One: Yes
  • Roof:Shingle: Yes
  • Utilities Cable Available: Yes
  • Water Source Public: Yes
  • General Property Information Carport YN2: No
  • Utilities Water Available: Yes
  • General Property Information Number Of Units Total2: 4.0
  • Gross Scheduled Income: 39000.0
  • Income And Expenses Operating Expense: 14864.0
  • Utilities Sewer Connected: Yes
  • Owner Pays:Sewer2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Tile
  • Appliances: Other
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Pool Features: None
  • Roof: Shingle
  • Acres: 0.29
  • Waterfront: No
  • Construction Type: Block, Concrete
  • Construction Materials:Block2: Yes
  • Construction Materials:Concrete4: Yes
  • Lot Features:Other21: Yes

Garage/Parking

  • Total Parking Spaces: 8.0
  • General Property Information:Garage YN: No
  • General Property Information:Parking Total: 8.0
  • General Property Information:Open Parking Spaces2: 8.0

Utilities

  • Cooling: Central Air
  • Utilities: Cable Available, Sewer Connected, Water Available
  • Cooling Y N: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Middle Or Junior School: Cocoa Beach

Lot Info

  • Lot Size Sq Ft: 12632.0
  • ResoLotSizeUnits: Acres
  • Parcel #: 24-37-23-Cg-00013.0-0011.00
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Grounds Care, Insurance, Sewer, Taxes, Trash Collection, Water

Tax Info

  • Tax Year: 2017
  • Tax Annual Amount: 4064.0

Multi Family

  • Number Of Units Total: 4
  • Annual Operating Expense: 14864.0
  • Income And Expenses Net Operating Income: 24136.0

MLS Schools

  • Elementary School: Cape View
  • High School: Cocoa Beach

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 28, 2017
Closed on
Jul 17, 2018
Sold by
Hoang Jennifer
Bought by
1399 M & G Property Llc
Seller's Agent
Joe Kovac
Kovac Real Estate
Buyer's Agent
Giuseppe Conoscenti
Prestige Florida Realty
List Price
$429,000
Sold Price
$375,000
Premium/Discount to List
-$54,000
-12.59%
Current Estimated Value
$575,329

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$200,329
Avg. Annual Appreciation
6.12%
Original Mortgage
$225,000
Outstanding Balance
$194,996
Interest Rate
4.5%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$380,333

Purchase Details

Closed on
Feb 17, 2016
Sold by
108 Madison Land Trust
Bought by
Hoang Jennifer

Purchase Details

Closed on
Jun 12, 2013
Sold by
Pank Lorna
Bought by
108 Madison Land Trust
Source: Public Records

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1399 M & G Property Llc $375,000 Superior Title Insurance Age
Hoang Jennifer $310,000 Supreme Title Closings Llc
108 Madison Land Trust $134,100 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1399 M & G Property Llc $225,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/17/2018 08/17/18 Sold $375,000 -12.6% $125 / Sq Ft
06/19/2018 06/19/18 Pending -- -- --
12/28/2017 12/28/17 For Sale $429,000 -- $143 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,045 $559,380 -- --
2024 $6,813 $398,970 -- --
2023 $6,813 $522,720 -- --
2022 $5,751 $453,600 $0 $0
2021 $5,277 $362,560 $263,500 $99,060
2020 $4,923 $329,600 $263,500 $66,100
2019 $4,625 $299,640 $263,500 $36,140
2018 $4,278 $267,000 $0 $267,000
2015 $3,120 $174,000 $128,000 $46,000
2014 $3,194 $174,000 $89,600 $84,400
Source: Public Records

Agents Affiliated with this Home

  • Joe Kovac

    Seller's Agent in 2018

    Joe Kovac

    Kovac Real Estate

    (321) 544-2511

    8 in this area

    15 Total Sales

    Joe Kovac
    Section Image
  • Giuseppe Conoscenti

    Buyer's Agent in 2018

    Giuseppe Conoscenti

    Prestige Florida Realty

    (321) 693-7751

    12 in this area

    39 Total Sales

    Giuseppe Conoscenti
    Section Image
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Map

Source: Space Coast MLS (Space Coast Association of REALTORS®)

MLS Number: 801158

Space Coast MLS (Space Coast Association of REALTORS®)

APN: 24-37-23-CG-00013.0-0011.00

Florida Brevard County Cape Canaveral 32920

108 Madison Ave, Cape Canaveral, FL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Space Coast MLS (Space Coast Association of REALTORS®) 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.

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