586 N Wickham Rd APT 62MelbourneFL32935
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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 at 586 N Wickham Rd APT 62, Melbourne, FL, 32935 listed at $120,000 pairs $917/mo rent with a $587/mo payment to leave $121/mo cash flow. Total monthly income runs $917/mo, and annual cash flow reaches $1,452/yr on $39,780 cash to close. Return on cash invested measures 23.56% in year one, and rental yield registers 9.17% at a $120,000 basis. Equity gained on principal adds $774/yr, and annual property appreciation at 5% supports $33,154 by year five. Five-year ROI tracks 122.97% and total cumulative return in cash totals $48,919. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $917/mo property income relative to a $587/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1984
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32935, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,824 (100%) |
| Owner Occupied HU | 11,605 (58.5%) |
| Renter Occupied HU | 6,821 (34.4%) |
| Vacant Housing Units | 1,398 ( 7.1%) |
| Median Home Value | $330,196 |
| Average Home Value | $431,874 |
Housing Distribution
Address Breakdown
Residential
19,701
Single Family
15,593
Multi-Family
4,108
Businesses
1,611
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