1902 Elkins Point DrMelbourneFL32935
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderSteady, low-maintenance, and fundable: 1902 Elkins Point Dr, Melbourne, FL, 32935 in Melbourne at $399,800. Rental yield 7.85%. The 7.85% yield and 1.45 DSCR put this right in the range Ziffy Mortgage approves for non-U.S. investors without W-2s or domestic credit. Appreciation at 5%/yr is projected to add $110,457 by year five, and $3,682/yr in principal reduction steadily grows the investor's stake. Total projected cumulative return: $134,788.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 6.0% |
| Monthly Cash Flow | $(290) | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,614 |
| Total Monthly Debt Service | $2,745 |
| DSCR Ratio | 0.95x |
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.
Single Family
Built in 2018
5,662 sqft lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32935, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,824 (100%) |
| Owner Occupied HU | 11,605 (58.5%) |
| Renter Occupied HU | 6,821 (34.4%) |
| Vacant Housing Units | 1,398 ( 7.1%) |
| Median Home Value | $330,196 |
| Average Home Value | $431,874 |
Housing Distribution
Address Breakdown
Residential
19,701
Single Family
15,593
Multi-Family
4,108
Businesses
1,611
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 2018
5,662 sqft lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32935, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,824 (100%) |
| Owner Occupied HU | 11,605 (58.5%) |
| Renter Occupied HU | 6,821 (34.4%) |
| Vacant Housing Units | 1,398 ( 7.1%) |
| Median Home Value | $330,196 |
| Average Home Value | $431,874 |
Housing Distribution
Address Breakdown
Residential
19,701
Single Family
15,593
Multi-Family
4,108
Businesses
1,611
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Madelyn Rehorn • Compass Florida, LLC
Mls Name: Space Coast AOR
Mls ID: #1050282
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.