232 River Walk DrMelbourne BeachFL32951
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 232 River Walk Dr, Melbourne Beach, FL, 32951 in Melbourne Beach: $6,430/mo in rent, $1,071/mo in net income, 9.65% gross yield, 1.79 DSCR, all at $799,900. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $220,998 in appreciation and $7,367/yr in principal paydown projects total cumulative return of $374,038.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 6.5% |
| Monthly Cash Flow | $1,071 | $1,500 |
City averages based on Melbourne Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $6,430 |
| Total Monthly Debt Service | $5,040 |
| DSCR Ratio | 1.28x |
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 1983
N/A lot
$N/A/sqft
$600 annually 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 1983
N/A lot
$N/A/sqft
$600 annually 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: Andy Aberman • United Realty Group Inc.
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #F10497077
Disclaimer: All listings featuring the BMLS logo are provided by Beaches MLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2025 Beaches Multiple Listing Service, Inc. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.