1616 Ocean Dr APT 103Vero BeachFL32963
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
Investment Highlights
Rental property for sale in Vero Beach at 1616 Ocean Dr APT 103, Vero Beach, FL, 32963 generates $6,600/mo in rent and, after a $3,715/mo payment, leaves $660/mo in cash flow. Total monthly income is $6,600/mo, and annual cash flow is $7,921/yr on $249,711 invested. Return on cash invested sits at 23.23% in year one, and rental yield is 10.43% on a $759,000 entry. Equity gained on principal adds $4,898/yr, while 5% annual appreciation builds toward $209,698 over five years. Five-year ROI reaches 122.81% and total cumulative return in cash sums $306,671. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,600/mo property income rather than buyer’s personal income.
Condo
Built in 1982
N/A lot
$N/A/sqft
$903 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32963, Vero Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,433 (100%) |
| Owner Occupied HU | 8,221 (66.1%) |
| Renter Occupied HU | 680 ( 5.5%) |
| Vacant Housing Units | 3,532 (28.4%) |
| Median Home Value | $956,011 |
| Average Home Value | $1,205,867 |
Housing Distribution
Address Breakdown
Residential
11,346
Single Family
8,108
Multi-Family
3,238
Businesses
496
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Patty E King Rennick • Rennick Real Estate
Mls Name: Realtor Association of Indian River County
Mls Provider:
Mls ID: #286613
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.