1616 Erin Ct NEPalm BayFL32905
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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 Palm Bay at 1616 Erin Ct NE, Palm Bay, FL, 32905 priced at $198,900 converts $1,969/mo rent into $304/mo cash flow after a $974/mo obligation. Total monthly income equals $1,969/mo, and annual cash flow totals $3,643/yr on $65,935 invested. Return on cash invested prints 25.43% in year one, and rental yield reads 11.88% against a $198,900 entry. Equity gained on principal adds $1,283/yr, while 5% annual appreciation compiles into $54,952 by year five. Five-year ROI reaches 135.35% and total cumulative return in cash sums $89,243. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,969/mo property income covering a $974/mo payment, not borrower’s personal income.
Townhouse
Built in 1981
1,306 sqft lot
$N/A/sqft
$345 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32905, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,522 (100%) |
| Owner Occupied HU | 6,818 (50.4%) |
| Renter Occupied HU | 5,409 (40.0%) |
| Vacant Housing Units | 1,295 ( 9.6%) |
| Median Home Value | $250,716 |
| Average Home Value | $271,753 |
Housing Distribution
Address Breakdown
Residential
13,064
Single Family
10,740
Multi-Family
2,324
Businesses
956
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Listed by: Eloisa Marrero • Dalton Wade, Inc.
Mls Name: Space Coast AOR
Mls ID: #1032444
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.