1537 Independence AveMelbourneFL32940
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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 1537 Independence Ave, Melbourne, FL, 32940 offers $3,193/mo rent that, after a $1,444/mo payment, leaves $1,235/mo cash flow. Total monthly income is $3,193/mo, and annual cash flow is $14,823/yr on $97,793 cash. Return on cash invested measures 35.07% in year one, and rental yield stands at 12.99% at a $295,000 entry. Equity gained on principal adds $1,904/yr while 5% annual appreciation compounds into $81,503 by year five. Five-year ROI records 184.74% and total cumulative return in cash reaches $180,662. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,193/mo property income versus a $1,444/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1992
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32940, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,025 (100%) |
| Owner Occupied HU | 18,755 (74.9%) |
| Renter Occupied HU | 4,298 (17.2%) |
| Vacant Housing Units | 1,972 ( 7.9%) |
| Median Home Value | $509,701 |
| Average Home Value | $561,457 |
Housing Distribution
Address Breakdown
Residential
23,879
Single Family
20,450
Multi-Family
3,429
Businesses
1,249
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Listed by: Shellie Raymond • Four Star Real Estate LLC
Mls Name: Space Coast AOR
Mls ID: #1045052
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.