8509 Ivanhoe DrMelbourneFL32940
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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 8509 Ivanhoe Dr, Melbourne, FL, 32940 priced at $400,000 converts $2,992/mo rent into $276/mo cash flow after a $1,958/mo obligation. Total monthly income equals $2,992/mo, and annual cash flow totals $3,308/yr on $132,600 invested. Return on cash invested prints 22.4% in year one, and rental yield reads 8.98% against a $400,000 entry. Equity gained on principal adds $2,581/yr, while 5% annual appreciation compiles into $110,513 by year five. Five-year ROI reaches 117.01% and total cumulative return in cash sums $155,152. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,992/mo property income covering a $1,958/mo payment, not borrower’s personal income.
Single Family
Built in 1998
5,662 sqft lot
$N/A/sqft
$370 semi-annually 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: Natalie Kae Decker • Keller Williams Realty Brevard
Mls Name: Space Coast AOR
Mls ID: #1032382
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.