6440 Borasco Drive #1502MelbourneFL32940
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt 1.73, 6440 Borasco Drive #1502, Melbourne, FL, 32940 in Melbourne sits at the top of Ziffy Mortgage's DSCR coverage band, a significant advantage for non-U.S. buyers closing without domestic income documentation. Rental yield 9.32%. The 9.32% yield is backed by 5% annual appreciation projecting $48,349 in value gain, plus $1,612/yr in principal reduction. Total projected cumulative return: $55,401.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 6.0% |
| Monthly Cash Flow | $(203) | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,359 |
| Total Monthly Debt Service | $1,493 |
| DSCR Ratio | 0.91x |
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 2005
3,049 sqft lot
$N/A/sqft
$401 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32940, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,025 (100%) |
| Owner Occupied HU | 18,755 (74.9%) |
| Renter Occupied HU | 4,298 (17.2%) |
| Vacant Housing Units | 1,972 ( 7.9%) |
| Median Home Value | $509,701 |
| Average Home Value | $561,457 |
Housing Distribution
Address Breakdown
Residential
23,879
Single Family
20,450
Multi-Family
3,429
Businesses
1,249
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 2005
3,049 sqft lot
$N/A/sqft
$401 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32940, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,025 (100%) |
| Owner Occupied HU | 18,755 (74.9%) |
| Renter Occupied HU | 4,298 (17.2%) |
| Vacant Housing Units | 1,972 ( 7.9%) |
| Median Home Value | $509,701 |
| Average Home Value | $561,457 |
Housing Distribution
Address Breakdown
Residential
23,879
Single Family
20,450
Multi-Family
3,429
Businesses
1,249
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lisa Bee • Southern Key Realty
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #RX-11032520
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.