1850 Charlesmont Dr APT 121MelbourneFL32903
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeFinancing efficiency matters for international buyers, and 1850 Charlesmont Dr APT 121, Melbourne, FL, 32903 in Melbourne offers it: the 1.90 DSCR gives Ziffy Mortgage's underwriting team an unusually clean file, no U.S. credit, no personal income required. Rental yield 9.95%. Long-term, 5% appreciation is forecast to add $67,689, and $2,256/yr in principal paydown compounds equity steadily. Projected five-year cumulative return: $85,816.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10% | 6.0% |
| Monthly Cash Flow | $(201) | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,089 |
| Total Monthly Debt Service | $2,152 |
| DSCR Ratio | 0.97x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1987
3,049 sqft lot
$N/A/sqft
$531 monthly 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 1987
3,049 sqft lot
$N/A/sqft
$531 monthly 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
Listed by: Luis E. Rojas • Redfin Corp.
Mls Name: Space Coast AOR
Mls ID: #1040528
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.