503 Heming WayMelbourneFL32901
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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 503 Heming Way, Melbourne, FL, 32901 priced at $379,000 pairs $4,620/mo rent with $1,890/mo cash flow after a $1,855/mo payment. Total monthly income equals $4,620/mo, and annual cash flow comes to $22,679/yr on $125,639 invested. Return on cash invested is 37.96% in year one, and rental yield stands at 14.63% on a $379,000 basis. Equity gained on principal adds $2,446/yr, and 5% annual appreciation accumulates to $104,711 by year five. Five-year ROI measures 200.97% and total cumulative return in cash reaches $252,491. For financing, Ziffy Mortgage’s DSCR program evaluates $4,620/mo property income against a $1,855/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2015
4,791 sqft lot
$N/A/sqft
$645 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32901, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,480 (100%) |
| Owner Occupied HU | 6,367 (44.0%) |
| Renter Occupied HU | 6,469 (44.7%) |
| Vacant Housing Units | 1,644 (11.4%) |
| Median Home Value | $319,748 |
| Average Home Value | $342,688 |
Housing Distribution
Address Breakdown
Residential
13,045
Single Family
9,940
Multi-Family
3,105
Businesses
1,439
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Listed by: Mary Goodwin • Compass Florida, LLC
Mls Name: Space Coast AOR
Mls ID: #1013234
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.