180 Paradise Blvd #1808MelbourneFL32903
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 180 Paradise Blvd #1808, Melbourne, FL, 32903 in Melbourne: $2,562/mo in rent, $588/mo net, 10.33% gross yield, all on a $297,500 acquisition. The 1.91 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $82,194 in value, and $2,740/yr in principal paydown steadily builds equity. Projected total cumulative return: $151,199.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 6.0% |
| Monthly Cash Flow | $588 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,562 |
| Total Monthly Debt Service | $1,856 |
| DSCR Ratio | 1.38x |
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.
Condo
Built in 1974
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32903, Indialantic, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,168 (100%) |
| Owner Occupied HU | 4,984 (69.5%) |
| Renter Occupied HU | 1,264 (17.6%) |
| Vacant Housing Units | 920 (12.8%) |
| Median Home Value | $592,903 |
| Average Home Value | $628,684 |
Housing Distribution
Address Breakdown
Residential
6,686
Single Family
5,455
Multi-Family
1,231
Businesses
481
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
Condo
Built in 1974
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32903, Indialantic, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,168 (100%) |
| Owner Occupied HU | 4,984 (69.5%) |
| Renter Occupied HU | 1,264 (17.6%) |
| Vacant Housing Units | 920 (12.8%) |
| Median Home Value | $592,903 |
| Average Home Value | $628,684 |
Housing Distribution
Address Breakdown
Residential
6,686
Single Family
5,455
Multi-Family
1,231
Businesses
481
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices