602 Shannon AveMelbourne 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 602 Shannon Ave, Melbourne Beach, FL, 32951 listed at $709,000 pairs $5,069/mo rent with a $3,470/mo payment to leave $205/mo cash flow. Total monthly income runs $5,069/mo, and annual cash flow reaches $2,463/yr on $233,261 cash to close. Return on cash invested measures 21.12% in year one, and rental yield registers 8.58% at a $709,000 basis. Equity gained on principal adds $4,575/yr, and annual property appreciation at 5% supports $195,884 by year five. Five-year ROI tracks 110.18% and total cumulative return in cash totals $257,001. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $5,069/mo property income relative to a $3,470/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1969
0.30 Acres 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: Cathryn Leasure • Florida Homes Rlty. & Mtg. LLC
Mls Name: Space Coast AOR
Mls ID: #1008179
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.