$177,500
Melbourne, FL 32901
MLS# 1070455
5 beds | 5 baths
1 / 4
Property Description
Prime Investment Opportunity in Melbourne! This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income. The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property. Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.
Details
Maps
Location, Tax, and Legal
Tax Account: 2825010
Parcel Number: 28-37-11-Fj-00003.0-0012.01
General County Location: South
Elementary School: Harbor City
Middle School: Stone
High School: Melbourne
Tax Annual Amount: 1319.44
Tax Year: 2025
Tax Legal Description: HOPKINS PLAT PART OF LOT 12 BLK 3 AS DESC IN ORB 1313 PG 1028 EXC RD R/W
Directions: Turn right onto Malabar Rd SE/FL-514 toward Malabar, Turn left onto Babcock St NE/FL-507/County Hwy-507, Follow Babcock St NE/FL-507/County Hwy-507, Turn right onto E University Blvd, Turn left onto Lipscomb St
General Property Information
Bathrooms Half: 1
Living Area: 2607
Living Area Source: Public Records
Lot Size Acres: 0.18
Lot Size Square Feet: 7841
Accessibility Features YN: No
Association YN: No
New Construction YN: No
Garage YN: No
Carport YN: No
Waterfront YN: No
Senior Community YN: No
CDD Fee YN: No
Community Fee(s) YN: No
Water Body Access YN: No
Furnished: Unfurnished
Stories: 1
Direction Faces: West
Pool Private YN: No
List Price/SqFt: 68.09
Bedrooms Total: 5
Bathrooms Total: 5
Bathrooms Full: 4
Year Built: 1930
Remarks and Miscellaneous
Public Remarks: Prime Investment Opportunity in Melbourne!
This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income.
The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property.
Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.
Appliances
None: 1
Construction Materials
Stucco: 1
Cooling
Other: 1
Current Use
Single Family: 1
DPR Eligible
DPR Eligible: Yes
Heating
Other: 1
Legal Details
Permission Granted to Advertise: No
Listing Terms
Cash: 1
Conventional: 1
VA Loan: 1
Lot Features
Other: 1
Parking Features
Other: 1
Possession
Close Of Escrow: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Utilities
Other: 1
Water Source
Other: 1
Room Types
Kitchen: 1
Kitchen Level: Main
Living Room: 1
Living Room Level: Main
Primary Bedroom: 1
Primary Bedroom Level: Main
Contract Information
Current Price: $177,500
Original List Price: 187500
List Price: $177,500
Status: Active
Listing Contract Date: 2026-02-25
Property Sub Type: Single Family Residence
Location Tax and Legal
Street Number: 2513
Street Name: Lipscomb
Street Suffix: Street
County: Brevard
State: FL
Postal Code: 32901
MLS Area Major: 999 - Out of Area
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2026-04-08T20:10:14Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-04-08T20:10:14Z
Status Change Timestamp: 2026-02-26
Property Features
Appliances: None
Construction Materials: Stucco
Cooling: Other
Current Use: Single Family
Heating: Other
Listing Terms: Cash; Conventional; VA Loan
Lot Features: Other
Parking Features: Other
Possession: Close Of Escrow
Sewer: Public Sewer
Special Listing Conditions: Standard
Utilities: Other
Water Source: Other
Room Types: Kitchen; Living Room; Primary Bedroom
Room Information
| Room Name | Level | Length | Length | Width | Width |
| Primary Bedroom | Main | 12.00 | 12.00 | 14.00 | 14.00 |
| Living Room | Main | 16.00 | 16.00 | 14.00 | 14.00 |
| Kitchen | Main | 10.00 | 10.00 | 8.00 | 8.00 |
Listing Office: Elevate Realty LLC
Last Updated: April - 08 - 2026
Information is deemed to be reliable, but is not guaranteed.