400 Norwich Ln #B-06Melbourne 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 400 Norwich Ln #B-06, Melbourne Beach, FL, 32951 uses $54,035 cash to close to unlock $1,885/yr annual cash flow and $157/mo monthly cash flow. Total monthly income runs $1,239/mo, and a $798/mo payment keeps the spread at $157/mo. Purchase price stands at $163,000, and rental yield measures 9.12% with $1,239/mo rent. Return on cash invested shows 23.4% in year one, and 5% annual appreciation builds toward $45,034 over five years. Five-year ROI reaches 122.22% and total cumulative return in cash records $66,043. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,239/mo property income covering a $798/mo payment rather than investor’s personal income.
Manufactured
Built in 1974
N/A 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: Sandra Bergman • Cove Communities
Mls Name: My State MLS
Mls ID: #10897853