2999 Highway A1a #7Melbourne BeachFL32951
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 2999 Highway A1a #7, Melbourne Beach, FL, 32951 in Melbourne Beach achieves a 1.65 ratio at $775,000: $5,761/mo rent versus $3,485/mo debt service. Rental yield 8.92%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 8.92% yield compounds alongside 5% annual appreciation projecting $214,118 in value. Total projected cumulative return: $235,146.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 6.5% |
| Monthly Cash Flow | $(1,048) | $1,500 |
City averages based on Melbourne Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,761 |
| Total Monthly Debt Service | $6,501 |
| DSCR Ratio | 0.89x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1985
1,742 sqft lot
$N/A/sqft
$5,000 quarterly 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 1985
1,742 sqft lot
$N/A/sqft
$5,000 quarterly 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