1551 Independence AveMelbourneFL32940
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
Investment Highlights
Rental property for sale in Melbourne at 1551 Independence Ave, Melbourne, FL, 32940 priced at $330,000 pairs $3,263/mo rent with $1,004/mo cash flow after a $1,615/mo payment. Total monthly income equals $3,263/mo, and annual cash flow comes to $12,047/yr on $109,395 invested. Return on cash invested is 30.92% in year one, and rental yield stands at 11.87% on a $330,000 basis. Equity gained on principal adds $2,129/yr, and 5% annual appreciation accumulates to $91,173 by year five. Five-year ROI measures 162.74% and total cumulative return in cash reaches $178,031. For financing, Ziffy Mortgage’s DSCR program evaluates $3,263/mo property income against a $1,615/mo payment instead of your W2s, 1099s, or 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Robin Steininger • Four Star Real Estate LLC
Mls Name: Space Coast AOR
Mls ID: #1043419
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.