255 Paradise Blvd APT 16MelbourneFL32903
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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
Rental property for sale in Melbourne at 255 Paradise Blvd APT 16, Melbourne, FL, 32903 generates $3,222/mo in rent and, after a $1,708/mo payment, leaves $521/mo in cash flow. Total monthly income is $3,222/mo, and annual cash flow is $6,256/yr on $115,694 invested. Return on cash invested sits at 25.32% in year one, and rental yield is 11.08% on a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 133.88% and total cumulative return in cash sums $154,896. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,222/mo property income rather than buyer’s personal income.
Townhouse
Built in 1979
1,742 sqft lot
$N/A/sqft
$242 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32903, Indialantic, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,168 (100%) |
| Owner Occupied HU | 4,984 (69.5%) |
| Renter Occupied HU | 1,264 (17.6%) |
| Vacant Housing Units | 920 (12.8%) |
| Median Home Value | $592,903 |
| Average Home Value | $628,684 |
Housing Distribution
Address Breakdown
Residential
6,686
Single Family
5,455
Multi-Family
1,231
Businesses
481
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Listed by: Sandra L Nickless • Coldwell Banker Paradise
Mls Name: Space Coast AOR
Mls ID: #1055580
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.