185 Richards RdMelbourne BeachFL32951
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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 Beach at 185 Richards Rd, Melbourne Beach, FL, 32951 priced at $455,000 converts $3,908/mo rent into $889/mo cash flow after a $2,227/mo obligation. Total monthly income equals $3,908/mo, and annual cash flow totals $10,662/yr on $150,833 invested. Return on cash invested prints 26.98% in year one, and rental yield reads 10.31% against a $455,000 entry. Equity gained on principal adds $2,936/yr, while 5% annual appreciation compiles into $125,708 by year five. Five-year ROI reaches 141.35% and total cumulative return in cash sums $213,196. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,908/mo property income covering a $2,227/mo payment, not borrower’s personal income.
Single Family
Built in 1958
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32951, Melbourne Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,201 (100%) |
| Owner Occupied HU | 5,115 (71.0%) |
| Renter Occupied HU | 559 ( 7.8%) |
| Vacant Housing Units | 1,527 (21.2%) |
| Median Home Value | $609,081 |
| Average Home Value | $720,236 |
Housing Distribution
Address Breakdown
Residential
6,285
Single Family
5,166
Multi-Family
1,119
Businesses
282
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Listed by: Matthew Bradley Kanefsky • Premium Properties Real Estate
Mls Name: Space Coast AOR
Mls ID: #1027640
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.