Melbourne high-equity pool flip opportunity with major upside potential

3 Beds | 2 Baths | 1,204 sf | Built 1978 | .89 acre lot

Melbourne high-equity pool flip opportunity with major upside potential. Property sits on nearly an acre of land and will require full rehab. Roof is approximately 25 years old and may need replacement. Water heater needs replacement and pool area requires remodeling. HVAC is only 2 years old. Property will be vacant at closing with free and clear title.

Comparables
2555 STATE ST, MELBOURNE, FL 32904 | 3 Beds | 2 Baths | Sold $474,000 on 04/2026 | Outdated | No Garage | Frame Construction, pool
2440 ARIZONA ST, MELBOURNE, FL 32904 | 3 Beds | 2 Baths | 1,194 sf | Sold $350,000 on 03/26/2026 | Built 1976 | 0.85 mi Frame Construction, pool
440 LA VETA DR, MELBOURNE, FL 32904 | 3 Beds | 1 Bath | 1,108 sf | Sold $320,000 on 02/05/2026 | Built 1961 | 0.48 mi Frame Construction, lot only .36 acres, no pool

Asking: $279,990
ARV: $350,000-$470,000
Market Rent: $2,100 – $2,650/month