2340 Iowa DrMelbourneFL32935
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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
Investment Highlights
Investment property for sale in Melbourne at 2340 Iowa Dr, Melbourne, FL, 32935 uses $111,053 cash to close to unlock $3,366/yr annual cash flow and $281/mo monthly cash flow. Total monthly income runs $2,504/mo, and a $1,640/mo payment keeps the spread at $281/mo. Purchase price stands at $335,000, and rental yield measures 8.97% with $2,504/mo rent. Return on cash invested shows 22.94% in year one, and 5% annual appreciation builds toward $92,554 over five years. Five-year ROI reaches 119.69% and total cumulative return in cash records $132,920. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,504/mo property income covering a $1,640/mo payment rather than investor’s personal income.
Single Family
Built in 1961
8,276 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
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