1996 Palmer DrMelbourneFL32935
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1996 Palmer Dr, Melbourne, FL, 32935 in Melbourne at $349,900 earns $2,478/mo in rent and nets $61/mo after the $1,573/mo payment, a 8.5% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $96,671 over five years. Ziffy Mortgage underwrites this on a 1.58 DSCR without U.S. credit history. With $3,223/yr in principal paydown, total projected return reaches $137,734.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.0% |
| Monthly Cash Flow | $61 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,478 |
| Total Monthly Debt Service | $2,278 |
| DSCR Ratio | 1.09x |
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.
Single Family
Built in 1980
7,405 sqft lot
$N/A/sqft
No 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 1980
7,405 sqft lot
$N/A/sqft
No 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: Ellis Wong • RE/MAX Elite
Mls Name: Space Coast AOR
Mls ID: #1049351
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.