2416 Lee AveMelbourneFL32901
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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 2416 Lee Ave, Melbourne, FL, 32901 uses $109,362 cash to close to unlock $3,653/yr annual cash flow and $304/mo monthly cash flow. Total monthly income runs $2,494/mo, and a $1,615/mo payment keeps the spread at $304/mo. Purchase price stands at $329,900, and rental yield measures 9.07% with $2,494/mo rent. Return on cash invested shows 23.25% in year one, and 5% annual appreciation builds toward $91,145 over five years. Five-year ROI reaches 121.36% and total cumulative return in cash records $132,723. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,494/mo property income covering a $1,615/mo payment rather than investor’s personal income.
Single Family
Built in 1961
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32901, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,480 (100%) |
| Owner Occupied HU | 6,367 (44.0%) |
| Renter Occupied HU | 6,469 (44.7%) |
| Vacant Housing Units | 1,644 (11.4%) |
| Median Home Value | $319,748 |
| Average Home Value | $342,688 |
Housing Distribution
Address Breakdown
Residential
13,045
Single Family
9,940
Multi-Family
3,105
Businesses
1,439
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