215 Pelican DrMelbourne BeachFL32951
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 215 Pelican Dr, Melbourne Beach, FL, 32951 in Melbourne Beach: $3,604/mo in rent, $286/mo in net income, 8.65% gross yield, 1.60 DSCR, all at $499,999. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $138,141 in appreciation and $4,605/yr in principal paydown projects total cumulative return of $209,031.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 6.5% |
| Monthly Cash Flow | $286 | $1,500 |
City averages based on Melbourne Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,604 |
| Total Monthly Debt Service | $3,119 |
| DSCR Ratio | 1.16x |
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 1975
9,583 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
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 1975
9,583 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Eric S Van Dam • Melbourne Beach Properties,Inc
Mls Name: Space Coast AOR
Mls ID: #1051469