G
Seller's Agent in 2019
Global Group
Engel & Voelkers Melb Downtown
1702 Riverview Dr Melbourne, FL 32901
Downtown Melbourne NeighborhoodEstimated Value: $483,000 - $950,000
2
Beds
1
Bath
2,588
Sq Ft
$267/Sq Ft
Est. Value
Highlights
- Wood Flooring
- Corner Lot
- Cooling System Mounted To A Wall/Window
- Melbourne Senior High School Rated A-
- No HOA
- Wood Siding
About This Home
As of September 2019ATTENTION INVESTORS, 8+% CAP RATE, VERY RARE MULTI-FAMILY OFFERING! 1702 & 1704 are Located across the street from the River in DOWNTOWN Melbourne and a short walk to all Downtown has to offer. Property consists of a charming 2 Br. /1 Ba. Single Family Home w/ wood burning fireplace and washer/dryer, a 4-Plex ea. 1Br. /1 Ba. w/ laundry room and a Vacant Lot. Price Breakdown is as : House - $155,000, 4 Plex - $310,000, Vacant Lot - $35,000. Property MUST be purchased as a whole.
All units have been renovated and well maintained. This low maintenance opportunity has many uses and can easily be Air BnB's to maximize rents with possibility to expand later on the Vacant Lot. Currently leased 100% w/ solid happy tenants. Proof of ability to buy prior to showings please.
Last Agent to Sell the Property
Global Group
Engel & Voelkers Melb Downtown Listed on: 05/30/2019
Co-Listed By
Grayling Oates
Engel & Voelkers Melb Downtown
Last Buyer's Agent
Marcie Bolt
Engel & Voelkers Melb. Central
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,506
Year Built
- Built in 1937
Lot Details
- 7,841 Sq Ft Lot
- Lot Dimensions are 60 x 130
- Corner Lot
Home Design
- 2,588 Sq Ft Home
- Frame Construction
- Metal Roof
- Wood Siding
Kitchen
- Electric Range
Flooring
- Wood
- Carpet
Laundry
- Dryer
- Washer
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Schools
- University Park Elementary School
- Hoover Middle School
- Melbourne High School
Utilities
- Cooling System Mounted To A Wall/Window
- Central Air
- Cable TV Available
Listing and Financial Details
- The owner pays for exterior maintenance, insurance, sewer, taxes, trash collection, water
- Assessor Parcel Number 28-37-02-Fd-00009.0-0001.00
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 5 Units
- Powells Resubd Of Melbourne Subdivision
Building Details
- Operating Expense $7,450
- Gross Income $46,800
- Net Operating Income $39,350
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 30, 2019
Closed on
Sep 6, 2019
Sold by
Sound Realty & Investments Inc
Bought by
Property Marks Llc
Seller's Agent
Global Group
Engel & Voelkers Melb Downtown
Buyer's Agent
Marcie Bolt
Engel & Voelkers Melb. Central
List Price
$535,000
Sold Price
$490,000
Premium/Discount to List
-$45,000
-8.41%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$201,636
Avg. Annual Appreciation
5.63%
Original Mortgage
$367,500
Outstanding Balance
$311,767
Interest Rate
3.7%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$363,931
Purchase Details
Closed on
Apr 25, 2011
Sold by
Elgamil Salah
Bought by
Sound Realty & Investments Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,000
Interest Rate
4.85%
Mortgage Type
Balloon
Purchase Details
Closed on
Jan 9, 2004
Sold by
Fitzgerald Terry M and Fitzgerald Marie
Bought by
Elgamil Salah
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,000
Interest Rate
6%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jul 3, 2002
Sold by
Fitzgerald T Scott
Bought by
Ross Elsa
Purchase Details
Closed on
Apr 7, 1995
Sold by
Rainwater Giles D and Baccusrainwater Tonya L
Bought by
Fitzgerald Terry M and Fitzgerald Marie F
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$62,500
Interest Rate
8.49%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Property Marks Llc | $490,000 | Supreme Title Closings Llc | |
| Sound Realty & Investments Inc | $135,000 | Precise Title Inc | |
| Elgamil Salah | $245,000 | State Title Partners Llp | |
| Ross Elsa | $74,900 | -- | |
| Fitzgerald Terry M | $82,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Property Marks Llc | $367,500 | |
| Previous Owner | Sound Realty & Investments Inc | $25,000 | |
| Previous Owner | Elgamil Salah | $125,000 | |
| Previous Owner | Fitzgerald Terry M | $62,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/06/2019 09/06/19 | Sold | $490,000 | -1.9% | $189 / Sq Ft |
| 07/16/2019 07/16/19 | Pending | -- | -- | -- |
| 06/27/2019 06/27/19 | Price Changed | $499,500 | -6.6% | $193 / Sq Ft |
| 05/30/2019 05/30/19 | For Sale | $535,000 | 0.0% | $207 / Sq Ft |
| 05/22/2019 05/22/19 | Pending | -- | -- | -- |
| 05/09/2019 05/09/19 | For Sale | $535,000 | -- | $207 / Sq Ft |
Source: Space Coast MLS (Space Coast Association of REALTORS®)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2023 | $4,695 | $257,120 | $0 | $0 |
| 2022 | $4,306 | $254,350 | $0 | $0 |
| 2021 | $3,967 | $205,910 | $64,380 | $141,530 |
| 2020 | $3,857 | $198,660 | $64,380 | $134,280 |
| 2019 | $3,652 | $179,860 | $64,380 | $115,480 |
| 2018 | $3,506 | $178,000 | $0 | $178,000 |
| 2017 | $3,316 | $165,000 | $0 | $165,000 |
| 2016 | $3,197 | $150,000 | $0 | $0 |
| 2015 | $2,991 | $123,200 | $46,800 | $76,400 |
| 2014 | $2,640 | $112,000 | $46,800 | $65,200 |
Source: Public Records
Agents Affiliated with this Home
-
-
G
Seller Co-Listing Agent in 2019
Grayling Oates
Engel & Voelkers Melb Downtown
-
M
Buyer's Agent in 2019
Marcie Bolt
Engel & Voelkers Melb. Central
Map
Source: Space Coast MLS (Space Coast Association of REALTORS®)
MLS Number: 844634
APN: 28-37-02-FD-00009.0-0001.00
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.
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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