3231 Casterton DriveMelbourneFL32940
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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 3231 Casterton Drive, Melbourne, FL, 32940 offers $6,385/mo rent that, after a $4,846/mo payment. Total monthly income is $6,385/mo. Return on cash invested measures 18.94% in year one, and rental yield stands at 7.74% at a $990,000 entry. Equity gained on principal adds $6,388/yr while 5% annual appreciation compounds into $273,519 by year five. Five-year ROI records 98.35% and total cumulative return in cash reaches $320,348. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $6,385/mo property income versus a $4,846/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2021
0.26 Acres lot
$N/A/sqft
$119 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32940, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,025 (100%) |
| Owner Occupied HU | 18,755 (74.9%) |
| Renter Occupied HU | 4,298 (17.2%) |
| Vacant Housing Units | 1,972 ( 7.9%) |
| Median Home Value | $509,701 |
| Average Home Value | $561,457 |
Housing Distribution
Address Breakdown
Residential
23,879
Single Family
20,450
Multi-Family
3,429
Businesses
1,249
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Listed by: Wendy Lockwood • RE/MAX Solutions
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #RX-11066591
Disclaimer: All listings featuring the BMLS logo are provided by Beaches MLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2025 Beaches Multiple Listing Service, Inc. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.