7667 N Wickham Rd APT 317MelbourneFL32940
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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 at 7667 N Wickham Rd APT 317, Melbourne, FL, 32940 offers a 12.48% rental yield on a $180,000 purchase with $1,872/mo rent. Total monthly income registers $1,872/mo, and a $881/mo payment leaves $150/mo available for distribution. Annual cash flow reaches $1,803/yr on $59,670 to close, and return on cash invested stands at 22.93% in year one. Equity gained on principal adds $1,162/yr while 5% annual appreciation supports $49,731 over five years. Portfolio math shows five-year ROI at 123.55% and total cumulative return in cash at $73,721. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,872/mo property income against a $881/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1990
2,613 sqft lot
$N/A/sqft
$507 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: Jennifer Marin • Real Estate Direct of Florida
Mls Name: Space Coast AOR
Mls ID: #1023685
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.