1633 Cove PlMerritt IslandFL32952
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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 1633 Cove Pl, Merritt Island, FL, 32952 generates $2,525/mo in rent and, after a $930/mo payment, leaves $1,264/mo in cash flow. Total monthly income is $2,525/mo, and annual cash flow is $15,169/yr on $62,985 invested. Return on cash invested sits at 43.99% in year one, and rental yield is 15.95% on a $190,000 entry. Equity gained on principal adds $1,226/yr, while 5% annual appreciation builds toward $52,494 over five years. Five-year ROI reaches 232.65% and total cumulative return in cash sums $146,532. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,525/mo property income rather than buyer’s personal income.
Manufactured
Built in 2016
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32952, Merritt Island, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,883 (100%) |
| Owner Occupied HU | 7,588 (76.8%) |
| Renter Occupied HU | 1,504 (15.2%) |
| Vacant Housing Units | 791 ( 8.0%) |
| Median Home Value | $490,042 |
| Average Home Value | $594,380 |
Housing Distribution
Address Breakdown
Residential
9,202
Single Family
8,511
Multi-Family
691
Businesses
561
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Listed by: Melissa Stegmeier • Sunset Home Sales
Mls Name: My State MLS
Mls ID: #11338609