616 Ridge Club Dr #90MelbourneFL32934
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 616 Ridge Club Dr #90, Melbourne, FL, 32934 in Melbourne achieves 1.83, rent of $1,152/mo covers the $630/mo payment 1.5x over at $140,000. Rental yield 9.87%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $38,679 over five years, with $1,289/yr in principal reduction bringing total projected return to $43,536.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.9% | 6.0% |
| Monthly Cash Flow | $(180) | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,152 |
| Total Monthly Debt Service | $1,276 |
| DSCR Ratio | 0.90x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1985
4,356 sqft lot
$N/A/sqft
$324 monthly HOA
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
Condo
Built in 1985
4,356 sqft lot
$N/A/sqft
$324 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Liz McGinley • Florida Indeed Real Estate Inc
Mls Name: Space Coast AOR
Mls ID: #1040261
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