427 Forrest Hills StreetPalm BayFL32908
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 427 Forrest Hills Street, Palm Bay, FL, 32908 in Palm Bay at $479,500 earns $3,217/mo in rent and nets $35/mo after the $2,156/mo payment, a 8.05% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $132,477 over five years. Ziffy Mortgage underwrites this on a 1.49 DSCR without U.S. credit history. With $4,416/yr in principal paydown, total projected return reaches $185,019.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 6.0% |
| Monthly Cash Flow | $35 | $450 |
City averages based on Palm Bay market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,217 |
| Total Monthly Debt Service | $2,991 |
| DSCR Ratio | 1.08x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2024
10,019 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32908, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,630 (100%) |
| Owner Occupied HU | 5,009 (75.6%) |
| Renter Occupied HU | 1,232 (18.6%) |
| Vacant Housing Units | 389 ( 5.9%) |
| Median Home Value | $323,851 |
| Average Home Value | $367,915 |
Housing Distribution
Address Breakdown
Residential
6,799
Single Family
6,649
Multi-Family
150
Businesses
18
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 2024
10,019 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32908, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,630 (100%) |
| Owner Occupied HU | 5,009 (75.6%) |
| Renter Occupied HU | 1,232 (18.6%) |
| Vacant Housing Units | 389 ( 5.9%) |
| Median Home Value | $323,851 |
| Average Home Value | $367,915 |
Housing Distribution
Address Breakdown
Residential
6,799
Single Family
6,649
Multi-Family
150
Businesses
18
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Enilia Rubalcaba • Montesano Realty & Associates LLC
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #RX-11055028
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.