290 Paradise Blvd APT 61MelbourneFL32903
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe 10.77% yield at 290 Paradise Blvd APT 61, Melbourne, FL, 32903 in Melbourne is solid, but the $1,317/mo payment compresses net cash flow to $83/mo at $292,950. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $80,937 by year five, and $2,698/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (2.00) without U.S. income documentation. Total projected return: $119,633.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.8% | 6.0% |
| Monthly Cash Flow | $83 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,630 |
| Total Monthly Debt Service | $2,431 |
| DSCR Ratio | 1.08x |
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.
Townhouse
Built in 1984
1,742 sqft lot
$N/A/sqft
$478 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
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
Townhouse
Built in 1984
1,742 sqft lot
$N/A/sqft
$478 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Anthony Scaramouche • Coldwell Banker Paradise
Mls Name: Space Coast AOR
Mls ID: #1048510
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.