1010 Spring Oak DriveMelbourneFL32901
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Melbourne at 1010 Spring Oak Drive, Melbourne, FL, 32901 priced at $460,000 converts $2,924/mo rent into after a $2,251/mo obligation. Total monthly income equals $2,924/mo. Return on cash invested prints 18.9% in year one, and rental yield reads 7.63% against a $460,000 entry. Equity gained on principal adds $2,968/yr, while 5% annual appreciation compiles into $127,090 by year five. Five-year ROI reaches 98.01% and total cumulative return in cash sums $149,449. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,924/mo property income covering a $2,251/mo payment, not borrower’s personal income.
Single Family
Built in 2002
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32901, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,480 (100%) |
| Owner Occupied HU | 6,367 (44.0%) |
| Renter Occupied HU | 6,469 (44.7%) |
| Vacant Housing Units | 1,644 (11.4%) |
| Median Home Value | $319,748 |
| Average Home Value | $342,688 |
Housing Distribution
Address Breakdown
Residential
13,045
Single Family
9,940
Multi-Family
3,105
Businesses
1,439
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