240 Hammock Shore Dr APT 203Melbourne BeachFL32951
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 240 Hammock Shore Dr APT 203, Melbourne Beach, FL, 32951 in Melbourne Beach speaks for itself: 24.7% gross on a $253,500 price, generating $5,219/mo in rent and $2,510/mo in net income after the $1,140/mo debt service. DSCR 4.58, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $30,114 stacks alongside $70,037 in projected five-year appreciation and $2,335/yr in principal reduction. Projected total cumulative return: $262,607.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 24.7% | 6.5% |
| Monthly Cash Flow | $2,510 | $1,500 |
City averages based on Melbourne Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,219 |
| Total Monthly Debt Service | $2,608 |
| DSCR Ratio | 2.00x |
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 1986
3,484 sqft lot
$N/A/sqft
$1,027 monthly 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
Condo
Built in 1986
3,484 sqft lot
$N/A/sqft
$1,027 monthly 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