Pros & Cons of 204 1ST Street, Melrose, FL 32666

This stunning 2023-built home on 5.85 acres of tranquil waterfront property offers a unique investment opportunity in the charming town of Melrose. With 5 bedrooms and 3 baths, this residence combines comfort and elegance, making it an attractive option for families or vacation rentals. The property boasts a solid cash flow with a monthly rent of $2,210 and a cap rate of 7.4%, indicating a potentially lucrative return on investment. However, investors should also consider the cash on cash return of 2.9%, which may be lower than expected for some. Overall, this property presents a balanced mix of positive financial factors and some considerations that require careful evaluation.

Weighing the Investment Potential

Investing in this waterfront property presents a compelling opportunity, particularly with its strong rental income potential and attractive cap rate. The spacious layout and serene location enhance its appeal, making it suitable for both families and vacation rentals. However, the lower cash on cash return and modest monthly cash flow are factors that investors should carefully consider. Balancing these positive aspects against the potential risks, such as market fluctuations and maintenance costs, will be crucial in determining whether this property aligns with your investment strategy. Overall, this property could be a valuable addition to your portfolio, provided you conduct thorough due diligence.