347 Pier Ln #517Melbourne 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
Investment property for sale in Melbourne Beach at 347 Pier Ln #517, Melbourne Beach, FL, 32951 offers a 8.58% rental yield on a $299,900 purchase with $2,144/mo rent. Total monthly income registers $2,144/mo, and a $1,468/mo payment leaves $154/mo available for distribution. Annual cash flow reaches $1,844/yr on $99,417 to close, and return on cash invested stands at 21.76% in year one. Equity gained on principal adds $1,935/yr while 5% annual appreciation supports $82,857 over five years. Portfolio math shows five-year ROI at 113.38% and total cumulative return in cash at $112,720. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,144/mo property income against a $1,468/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 2005
3,049 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: Mona Avellino • Avellino & Associates Realty
Mls Name: Space Coast AOR
Mls ID: #1065307