344 Nikomas WayMelbourne 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 344 Nikomas Way, Melbourne Beach, FL, 32951 generates $5,362/mo in rent and, after a $3,651/mo payment, leaves $412/mo in cash flow. Total monthly income is $5,362/mo, and annual cash flow is $4,941/yr on $245,434 invested. Return on cash invested sits at 22.07% in year one, and rental yield is 8.63% on a $745,999 entry. Equity gained on principal adds $4,814/yr, while 5% annual appreciation builds toward $206,106 over five years. Five-year ROI reaches 115.01% and total cumulative return in cash sums $282,261. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,362/mo property income rather than buyer’s personal income.
Single Family
Built in 1979
10,018 sqft lot
$N/A/sqft
No 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: Kristen S Willer • Dale Sorensen Real Estate Inc.
Mls Name: Space Coast AOR
Mls ID: #1062862