6630 Colonnade AveMelbourneFL32940
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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 6630 Colonnade Ave, Melbourne, FL, 32940 priced at $1,325,300 converts $2,880/mo rent into after a $6,487/mo obligation. Total monthly income equals $2,880/mo. Return on cash invested prints 3.84% in year one, and rental yield reads 2.61% against a $1,325,300 entry. Equity gained on principal adds $8,552/yr, while 5% annual appreciation compiles into $366,156 by year five. Five-year ROI reaches 17.17% and total cumulative return in cash sums $73,719. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,880/mo property income covering a $6,487/mo payment, not borrower’s personal income.
Single Family
Built in 2006
N/A lot
$N/A/sqft
No 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
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