883 Ridge Lake 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
Investment property for sale in Melbourne at 883 Ridge Lake Dr, Melbourne, FL, 32940 uses $77,405 cash to close to unlock $8,397/yr annual cash flow and $700/mo monthly cash flow. Total monthly income runs $2,893/mo, and a $1,143/mo payment keeps the spread at $700/mo. Purchase price stands at $233,500, and rental yield measures 14.87% with $2,893/mo rent. Return on cash invested shows 30.76% in year one, and 5% annual appreciation builds toward $64,512 over five years. Five-year ROI reaches 165.23% and total cumulative return in cash records $127,898. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,893/mo property income covering a $1,143/mo payment rather than investor’s personal income.
Single Family
Built in 1989
3,484 sqft lot
$N/A/sqft
$463 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
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Listed by: David Cable • RE/MAX Elite
Mls Name: Space Coast AOR
Mls ID: #1046810
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.