Undervalued-Melbourne Condo

Undervalued-Melbourne Condo

2 bed 2 bath 1070 sq ft Built in 1990 Condominium
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78
Quality of Comparables
Low High
17 /20
Level of Rehab
Heavy Light
14/20
Location of Neighborhood
Far Close
17/20
Quality of Floor Plan
Choppy Flowing
16/20
School Rating
F A
7/10
Placement in Neighborhood
Busy Calm
7/10
Property Details

Cypress Cove at Suntree presents a rare opportunity to secure an off-market asset in one of Brevard County’s most stable and high-demand rental corridors. Positioned below assessed value with a clear path to a ~$210K exit, this deal offers immediate equity and strong upside through renovation. Surrounded by major employment, retail, and lifestyle amenities, this location supports consistent tenant demand and long-term appreciation.

This is a true cosmetic flip or quick rental — the glass sliders and windows are newer, and the electrical and plumbing are in good condition throughout. Built in 1990, the property requires no major system overhauls, keeping renovation straightforward and cost controlled.

Market at $1,900/month, and upside to $2,150 with top-tier finishes.

Priced to move, this location-driven asset offers immediate equity, strong comps, and proven rental demand, with an estimated $30,000 profit and approximately 16.7% ROI.

  • County assessed value is $148,000.00
  • Located in a high-demand, supply-constrained rental market
  • Strong tenant base driven by economic growth in the area

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We recommend flip
Rental Income
$1,900 mo. / $22,800 yr.
Estimated Taxes
$2,600 / yr.
Maintenance
$200 / yr.
HOA Dues
$6,447 / yr.
$12,453
Projected Income
7.93%
Estimated APY
$36,800
Projected Income
21.26%
Estimated ROI

Comps

 
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Sold

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