2513 Lipscomb St, Melbourne, FL 32901
Melbourne Value Add Investment Property Near the Beach
5 beds, 4.5 baths, 2,607 square feet, income in place, major updates completed, and multiple exit strategies just 1 mile from the beach.
Investment Highlights
Located just 1 mile from the beach, this Melbourne property offers a unique dual strategy opportunity for investors looking for either rental income, a flip, or a flexible value add renovation.
The front structure has already been fully gutted, with the separating wall removed, allowing flexibility to reconfigure the space as a duplex or a large single family residence. This creates a clear path for a custom build out and value add play.
Major updates include a new roof in 2024, new windows, updated electrical panel, and appliances already in place. Utilities are on city water and sewer, keeping infrastructure simpler for the next owner.
With income in place, major systems updated, and strong upside near the beach, this is a versatile investment opportunity with multiple exit strategies.
Investment Overview
| Purchase Price | $175,000 |
| Projected Market Rent | $4,150 per month |
| Estimated Rehab | $60,000 |
| Estimated ROI | 20.02% |
| Estimated Net Income | $50,042.50 |
| After Repair Value | $300,000 |
| Strategy | Rent, flip, duplex conversion, or single family renovation |
Possible Exit Strategies
Rental strategy: Complete the front structure and operate the property as a multi unit income property, subject to zoning, permitting, and final configuration.
Flip strategy: Finish the renovation and resell based on the improved property condition and proximity to the beach.
Hybrid strategy: Keep the updated rear unit income in place while completing the front renovation, then reassess whether to sell, refinance, or hold.
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