For SaleGood Deal159 days on market
1551 Independence Ave
1551 Independence Ave, Melbourne, FL 32940, Melbourne, FL 32940
$269,000
Estimate®:$263,400
Listing Price
1551 Independence Ave, Melbourne, FL 32940
Loc: Melbourne, FL
Days Listed
159
Tax Assessed
$259k
Estimate®
$263k
Market Rate
Lot Size
8,712 sqft
Rent Estimate
$2,583/mo
Est. Cash Flow base
Type
single family
More Than Just a Property
We believe a home extends beyond its walls. That's why we help you explore the pulse of the community—from top-rated schools to essential emergency services. Your safety, well-being, and connection to the neighborhood matter to us.
4.9
Safety Score
A+
Schools
Nearby Schools
Educational options and performance ratings in the area.
10
Quest Elementary School
PK-6
2.5 mi away
7
Viera Middle School
7-8
1.5 mi away
7
Viera High School
PK,9-12
1.6 mi away
Property Overview
No property narrative or remarks were supplied in the source listing records. Underwriting and financial metrics are calculated directly from public record data and MLS attributes.
Features & Amenities
ranch stylesingle-storystucco exteriorattached garagepaved drivewaytropical landscapingpalm treesarched windowresidentialsuburbanwell-maintainedFlorida architecturehip roof
Haven AI Verdict
Recommendation
Good
Confidence Score: 7/10
Strong rental demand expected in this area (98% occupancy rate).
Turnkey property requiring minimal initial CapEx.
Cap Rate
7.26%
Total ROI
116.7%
Cash Flow
$232/mo
DSCR
1.17
Was this AI Verdict accurate?
Data provided by Haven AI. Disclaimer
Haven AI
Property yields an estimated $232/mo net cash flow with a 7.3% cap rate. Underwriting indicates good fundamentals for long-term hold.
Strengths
- • Favorable cap rate profile (7.3%)
- • Strong rental demand in Melbourne
Considerations
- • Verify historical operating expenses and local tax assessment
- • Confirm current lease terms and tenant estoppel certificates
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-07-28 | Price change | $269,000 | $148 |
| 2026-06-22 | Price change | $289,900 | $160 |
| 2026-04-17 | Listed for sale | $298,900 | $165 |
| 2026-04-16 | Listing removed | $298,900 | $165 |
| 2026-03-18 | Price change | $298,900 | $165 |
| 2025-07-28 | Price change | $309,900 | $171 |
| 2025-06-22 | Price change | $319,900 | $176 |
| 2025-04-16 | Listed for sale | $330,000 | $182 |
| 2021-10-01 | Sold | $240,000 | $132 |
| 2021-09-27 | Pending sale | $230,000 | $127 |
| 2002-11-06 | Sold | $120,000 | $66 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2025 | $3,968.13 | $258,520 |
| 2024 | $3,767.16 | $255,010 |
| 2023 | $3,709.56 | $247,590 |
| 2022 | $3,487.28 | $240,380 |
| 2021 | $3,073.48 | $144,020 |
| 2020 | $3,026.72 | $138,760 |
| 2019 | $1,665.22 | $78,170 |
| 2018 | $1,665.22 | $76,720 |
| 2017 | $1,653.24 | $75,150 |
| 2016 | $1,637.13 | $73,610 |
| 2015 | $1,645.74 | $73,100 |
| 2014 | $1,669.39 | $72,520 |
| 2013 | $0 | $79,770 |
| 2012 | $595.29 | $70,260 |
| 2011 | $788.45 | $83,740 |
| 2010 | $825.5 | $89,660 |
| 2009 | $1,339.08 | $135,340 |
| 2008 | $1,339.06 | $172,000 |
| 2007 | $1,467.75 | $202,000 |
| 2005 | $1,595.29 | $181,370 |
| 2004 | $1,633.41 | $140,340 |
| 2003 | $1,663.76 | $124,280 |
| 2002 | $2,430.85 | $119,010 |
| 2001 | $1,655.68 | $109,250 |
| 2000 | $1,536.61 | $102,090 |
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