988 Spanish Wells DriveMelbourneFL32940
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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 988 Spanish Wells Drive, Melbourne, FL, 32940 earns from $4,590/mo rent with a $3,549/mo payment. Total monthly income totals $4,590/mo. ROI tracks 17.28% on current figures, and rental yield reads 7.6% at a $725,000 purchase. Equity gained on principal adds $4,678/yr, and 5% annual appreciation supports $200,304 over five years. Five-year ROI reaches 89.89% and total cumulative return in cash sums $214,409. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $4,590/mo property income instead of your personal income.
Single Family
Built in 1990
0.50 Acres lot
$N/A/sqft
$245 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: Joshua DiBiasio • Billero & Billero Properties
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #RX-11084868
Disclaimer: All listings featuring the BMLS logo are provided by Beaches MLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2025 Beaches Multiple Listing Service, Inc. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.