381 SE 5TH AVENUE Under contract-accepting backup offers. Offering over 2, 000 square feet of living space, this 4-bedroom, 2-bath home is perfectly positioned on a nearly 2/3-acre lot on the canal giving direct access to Lake Santa Fe in Melrose, Florida and if that isn't exciting enough.. it's being offered below the appraised value! That's right, instant equity while you enjoy a lake lifestyle with beautiful water views on three sides of the property, mature palm trees, and direct access to peaceful canal scenery. A large screened-in back patio and expansive deck create ideal spaces for relaxing, entertaining, or enjoying Florida’s year-round outdoor living. Recent updates include flooring, bathrooms, windows, and kitchen appliances. Additional highlights include a covered carport with extra storage, a rebuilt bulkhead (2015), and a newer HVAC system (2023). Conveniently located just over 3 miles to grocery shopping and approximately 2 miles from Melrose Elementary and the historic district of Melrose. Fourth 'bedroom' was used as a guest room. It does not have a closet, but has handy closet storage available in the laundry room adjacent to it. Only 25 minutes to UF.