8393 Loren Cove DrMelbourneFL32940
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 8393 Loren Cove Dr, Melbourne, FL, 32940 in Melbourne is narrow, $118/mo net on $3,132/mo rent after the $1,749/mo debt service, but the property operates at break-even-plus, not a loss. At $389,000 with a 9.66% yield, the long-run equity case via 5% appreciation ($107,474 over five years) and $3,583/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.79 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $157,749.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 6.0% |
| Monthly Cash Flow | $118 | $500 |
City averages based on Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,132 |
| Total Monthly Debt Service | $2,860 |
| DSCR Ratio | 1.10x |
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.
Townhouse
Built in 2020
4,356 sqft lot
$N/A/sqft
$433 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
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
Townhouse
Built in 2020
4,356 sqft lot
$N/A/sqft
$433 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Charlotte M Lux • Dale Sorensen Real Estate Inc.
Mls Name: Space Coast AOR
Mls ID: #1028763
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.