1307 Alaqua WayWest MelbourneFL32904
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.24% yield at 1307 Alaqua Way, West Melbourne, FL, 32904 in West Melbourne is solid, but the $1,839/mo payment compresses net cash flow to $95/mo at $409,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $112,999 by year five, and $3,767/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.53) without U.S. income documentation. Total projected return: $161,989.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 6.0% |
| Monthly Cash Flow | $95 | $300 |
City averages based on West Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,809 |
| Total Monthly Debt Service | $2,551 |
| DSCR Ratio | 1.10x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2010
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32904, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,570 (100%) |
| Owner Occupied HU | 11,735 (63.2%) |
| Renter Occupied HU | 5,076 (27.3%) |
| Vacant Housing Units | 1,759 ( 9.5%) |
| Median Home Value | $422,742 |
| Average Home Value | $431,583 |
Housing Distribution
Address Breakdown
Residential
17,661
Single Family
14,251
Multi-Family
3,410
Businesses
1,454
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 2010
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32904, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,570 (100%) |
| Owner Occupied HU | 11,735 (63.2%) |
| Renter Occupied HU | 5,076 (27.3%) |
| Vacant Housing Units | 1,759 ( 9.5%) |
| Median Home Value | $422,742 |
| Average Home Value | $431,583 |
Housing Distribution
Address Breakdown
Residential
17,661
Single Family
14,251
Multi-Family
3,410
Businesses
1,454
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brenda C Muh • Space Coast Realty Corp.
Mls Name: Space Coast AOR
Mls ID: #1057785