1589 Magnolia St NEPalm BayFL32905
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1589 Magnolia St NE, Palm Bay, FL, 32905 in Palm Bay at $249,500 earns $1,755/mo in rent and nets $99/mo after the $1,122/mo payment, a 8.44% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $68,932 over five years. Ziffy Mortgage underwrites this on a 1.56 DSCR without U.S. credit history. With $2,298/yr in principal paydown, total projected return reaches $101,501.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 6.0% |
| Monthly Cash Flow | $99 | $450 |
City averages based on Palm Bay market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,755 |
| Total Monthly Debt Service | $1,556 |
| DSCR Ratio | 1.13x |
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 1962
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32905, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,522 (100%) |
| Owner Occupied HU | 6,818 (50.4%) |
| Renter Occupied HU | 5,409 (40.0%) |
| Vacant Housing Units | 1,295 ( 9.6%) |
| Median Home Value | $250,716 |
| Average Home Value | $271,753 |
Housing Distribution
Address Breakdown
Residential
13,064
Single Family
10,740
Multi-Family
2,324
Businesses
956
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 1962
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32905, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,522 (100%) |
| Owner Occupied HU | 6,818 (50.4%) |
| Renter Occupied HU | 5,409 (40.0%) |
| Vacant Housing Units | 1,295 ( 9.6%) |
| Median Home Value | $250,716 |
| Average Home Value | $271,753 |
Housing Distribution
Address Breakdown
Residential
13,064
Single Family
10,740
Multi-Family
2,324
Businesses
956
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices