21 Elton St #21MelbourneFL32935
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 21 Elton St #21, Melbourne, FL, 32935 in Melbourne speaks for itself: 19.37% gross on a $115,900 price, generating $1,871/mo in rent and $894/mo in net income after the $521/mo debt service. DSCR 3.59, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $10,723 stacks alongside $32,021 in projected five-year appreciation and $1,067/yr in principal reduction. Projected total cumulative return: $102,643.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 19.4% | 6.0% |
| Monthly Cash Flow | $894 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,871 |
| Total Monthly Debt Service | $931 |
| DSCR Ratio | 2.01x |
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 1964
1,742 sqft lot
$N/A/sqft
$150 monthly 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
Condo
Built in 1964
1,742 sqft lot
$N/A/sqft
$150 monthly 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