803 Ironwood DrMelbourneFL32935
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 803 Ironwood Dr, Melbourne, FL, 32935 in Melbourne hard to pass up. The 11.07% gross yield on a $252,000 purchase results in $2,326/mo in rent and $541/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.05). Annual cash flow of $6,496, five-year appreciation of $69,623, and $2,321/yr in equity build-up combine for a projected total cumulative return of $131,446.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.1% | 6.0% |
| Monthly Cash Flow | $541 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,326 |
| Total Monthly Debt Service | $1,684 |
| DSCR Ratio | 1.38x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1961
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32935, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,824 (100%) |
| Owner Occupied HU | 11,605 (58.5%) |
| Renter Occupied HU | 6,821 (34.4%) |
| Vacant Housing Units | 1,398 ( 7.1%) |
| Median Home Value | $330,196 |
| Average Home Value | $431,874 |
Housing Distribution
Address Breakdown
Residential
19,701
Single Family
15,593
Multi-Family
4,108
Businesses
1,611
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
Single Family
Built in 1961
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32935, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,824 (100%) |
| Owner Occupied HU | 11,605 (58.5%) |
| Renter Occupied HU | 6,821 (34.4%) |
| Vacant Housing Units | 1,398 ( 7.1%) |
| Median Home Value | $330,196 |
| Average Home Value | $431,874 |
Housing Distribution
Address Breakdown
Residential
19,701
Single Family
15,593
Multi-Family
4,108
Businesses
1,611
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Danita Bell • RE/MAX Aerospace Realty
Mls Name: Space Coast AOR
Mls ID: #1046862
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.