7667 N Wickham Rd APT 514MelbourneFL32940
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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 514, Melbourne, FL, 32940 uses $54,664 cash to close to unlock $2,638/yr annual cash flow and $220/mo monthly cash flow. Total monthly income runs $1,314/mo, and a $807/mo payment keeps the spread at $220/mo. Purchase price stands at $164,900, and rental yield measures 9.56% with $1,314/mo rent. Return on cash invested shows 24.73% in year one, and 5% annual appreciation builds toward $45,559 over five years. Five-year ROI reaches 129.33% and total cumulative return in cash records $70,696. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,314/mo property income covering a $807/mo payment rather than investor’s personal income.
Condo
Built in 1990
2,613 sqft 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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