1208 River Dr APT 201MelbourneFL32901
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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 1208 River Dr APT 201, Melbourne, FL, 32901 generates $4,573/mo in rent, after a $3,181/mo payment. Total monthly income is $4,573/mo. Return on cash invested sits at 16.07% in year one, and rental yield is 8.44% on a $649,900 entry. Equity gained on principal adds $4,194/yr, while 5% annual appreciation builds toward $179,555 over five years. Five-year ROI reaches 84.78% and total cumulative return in cash sums $181,278. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,573/mo property income rather than buyer’s personal income.
Condo
Built in 1984
3,484 sqft lot
$N/A/sqft
$750 monthly 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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Listed by: Misty A Morrison • Misty Morrison Real Estate
Mls Name: Space Coast AOR
Mls ID: #1033881
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.