134 Starboard Lane #309Merritt IslandFL32953
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderCapital preservation and steady income define 134 Starboard Lane #309, Merritt Island, FL, 32953 in Merritt Island. Rental yield 7.71%. The 1.43 coverage passes Ziffy Mortgage's DSCR threshold for non-U.S. residents. Five-year appreciation of $158,862 and $5,296/yr in principal reduction project total return of $132,703.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 5.0% |
| Monthly Cash Flow | $(1,432) | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,695 |
| Total Monthly Debt Service | $4,898 |
| DSCR Ratio | 0.75x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2006
2,178 sqft lot
$N/A/sqft
$1,236 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2006
2,178 sqft lot
$N/A/sqft
$1,236 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michelle R Farr • One Sotheby's Int'l Realty
Mls Name: BeachesMLS
Mls Provider:
Mls ID: #RX-11124658
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.