1622 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
Investment property for sale in Melbourne at 1622 Independence Ave, Melbourne, FL, 32940 listed at $445,000 pairs $3,836/mo rent with a $2,178/mo payment to leave $883/mo cash flow. Total monthly income runs $3,836/mo, and annual cash flow reaches $10,596/yr on $147,518 cash to close. Return on cash invested measures 27.09% in year one, and rental yield registers 10.34% at a $445,000 basis. Equity gained on principal adds $2,872/yr, and annual property appreciation at 5% supports $122,945 by year five. Five-year ROI tracks 141.93% and total cumulative return in cash totals $209,372. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,836/mo property income relative to a $2,178/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1993
0.27 Acres 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: Robin Steininger • Four Star Real Estate LLC
Mls Name: Space Coast AOR
Mls ID: #1041107
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.