313 Island DrMelbourne BeachFL32951
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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 Beach at 313 Island Dr, Melbourne Beach, FL, 32951 offers $5,664/mo rent that, after a $4,209/mo payment. Total monthly income is $5,664/mo. Return on cash invested measures 19.58% in year one, and rental yield stands at 7.9% at a $860,000 entry. Equity gained on principal adds $5,549/yr while 5% annual appreciation compounds into $237,602 by year five. Five-year ROI records 101.74% and total cumulative return in cash reaches $287,861. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $5,664/mo property income versus a $4,209/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1995
0.26 Acres lot
$N/A/sqft
$71 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
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Listed by: Joel Drapeau • Compass Florida LLC
Mls Name: Space Coast AOR
Mls ID: #1023512
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.