101 Summer Pl APT 6Merritt IslandFL32953
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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
Rental property for sale in Merritt Island at 101 Summer Pl APT 6, Merritt Island, FL, 32953 generates $1,441/mo in rent, after a $881/mo payment. Total monthly income is $1,441/mo. Return on cash invested sits at 18.87% in year one, and rental yield is 9.61% on a $180,000 entry. Equity gained on principal adds $1,162/yr, while 5% annual appreciation builds toward $49,731 over five years. Five-year ROI reaches 100.1% and total cumulative return in cash sums $59,729. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,441/mo property income rather than buyer’s personal income.
Condo
Built in 1988
3,049 sqft lot
$N/A/sqft
$265 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32953, Merritt Island, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,436 (100%) |
| Owner Occupied HU | 7,922 (69.3%) |
| Renter Occupied HU | 2,764 (24.2%) |
| Vacant Housing Units | 750 ( 6.6%) |
| Median Home Value | $483,378 |
| Average Home Value | $547,706 |
Housing Distribution
Address Breakdown
Residential
10,935
Single Family
9,935
Multi-Family
1,000
Businesses
793
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Listed by: Marjorie Rivera • Double Eagle Realty, Inc
Mls Name: Space Coast AOR
Mls ID: #1047157
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.