873 Greenwood Manor Cir #3-BWest MelbourneFL32904
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 873 Greenwood Manor Cir #3-B, West Melbourne, FL, 32904 in West Melbourne at $242,000 earns $2,330/mo in rent and nets $118/mo after the $1,088/mo payment, a 11.56% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $66,860 over five years. Ziffy Mortgage underwrites this on a 2.14 DSCR without U.S. credit history. With $2,229/yr in principal paydown, total projected return reaches $138,866.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 6.0% |
| Monthly Cash Flow | $118 | $300 |
City averages based on West Melbourne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,330 |
| Total Monthly Debt Service | $1,510 |
| DSCR Ratio | 1.54x |
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.
Condo
Built in 1986
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32904, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,570 (100%) |
| Owner Occupied HU | 11,735 (63.2%) |
| Renter Occupied HU | 5,076 (27.3%) |
| Vacant Housing Units | 1,759 ( 9.5%) |
| Median Home Value | $422,742 |
| Average Home Value | $431,583 |
Housing Distribution
Address Breakdown
Residential
17,661
Single Family
14,251
Multi-Family
3,410
Businesses
1,454
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
Condo
Built in 1986
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32904, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,570 (100%) |
| Owner Occupied HU | 11,735 (63.2%) |
| Renter Occupied HU | 5,076 (27.3%) |
| Vacant Housing Units | 1,759 ( 9.5%) |
| Median Home Value | $422,742 |
| Average Home Value | $431,583 |
Housing Distribution
Address Breakdown
Residential
17,661
Single Family
14,251
Multi-Family
3,410
Businesses
1,454
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: Space Coast AOR
Mls ID: #1073270