Investing in Brevard County
Brevard County covers 3 rental markets we actively finance in Florida — Cocoa Beach, Melbourne, Melbourne. Across those markets the median investment basis averages $390,000, a long-term lease averages $2,017/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,995. That produces a county-wide average DSCR ratio near 0.70x.
Basis varies more inside Brevard County than the average suggests. Melbourne is the lowest entry point at roughly $340,000, while Melbourne currently models the strongest coverage ratio in the county at 0.90x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.