905 Covina WayMelbourneFL32901
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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 905 Covina Way, Melbourne, FL, 32901 earns $2,019/mo cash flow from $2,881/mo rent with a $636/mo payment. Total monthly income totals $2,881/mo, and annual cash flow totals $24,223/yr on $43,095 capital. ROI tracks 76.12% on current figures, and rental yield reads 26.59% at a $130,000 purchase. Equity gained on principal adds $839/yr, and 5% annual appreciation supports $35,917 over five years. Five-year ROI reaches 404.88% and total cumulative return in cash sums $174,483. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,881/mo property income instead of your personal income.
Single Family
Built in 1970
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32901, Melbourne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,480 (100%) |
| Owner Occupied HU | 6,367 (44.0%) |
| Renter Occupied HU | 6,469 (44.7%) |
| Vacant Housing Units | 1,644 (11.4%) |
| Median Home Value | $319,748 |
| Average Home Value | $342,688 |
Housing Distribution
Address Breakdown
Residential
13,045
Single Family
9,940
Multi-Family
3,105
Businesses
1,439
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Listed by: Thomas Owens • North America Realty Group
Mls Name: Space Coast AOR
Mls ID: #1055085
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.