7667 N Wickham Rd APT 1202MelbourneFL32940
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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 7667 N Wickham Rd APT 1202, Melbourne, FL, 32940 generates $3,492/mo in rent and, after a $1,282/mo payment, leaves $1,158/mo in cash flow. Total monthly income is $3,492/mo, and annual cash flow is $13,892/yr on $86,853 invested. Return on cash invested sits at 35.9% in year one, and rental yield is 15.99% on a $262,000 entry. Equity gained on principal adds $1,691/yr, while 5% annual appreciation builds toward $72,386 over five years. Five-year ROI reaches 192.2% and total cumulative return in cash sums $166,929. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,492/mo property income rather than buyer’s personal income.
Condo
Built in 1990
3,049 sqft lot
$N/A/sqft
$591 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
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Listed by: Alan Randel • Ameriteam Realty Inc
Mls Name: Space Coast AOR
Mls ID: #1019311
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.