194 Ridgemont Cir SEPalm BayFL32909
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.1% yield at 194 Ridgemont Cir SE, Palm Bay, FL, 32909 in Palm Bay is solid, but the $2,269/mo payment compresses net cash flow to $1/mo at $504,500. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $139,384 by year five, and $4,646/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.50) without U.S. income documentation. Total projected return: $192,593.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 6.0% |
| Monthly Cash Flow | $1 | $450 |
City averages based on Palm Bay market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,406 |
| Total Monthly Debt Service | $3,204 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 2004
0.35 Acres lot
$N/A/sqft
$683 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32909, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,975 (100%) |
| Owner Occupied HU | 14,147 (78.7%) |
| Renter Occupied HU | 2,960 (16.5%) |
| Vacant Housing Units | 868 ( 4.8%) |
| Median Home Value | $363,999 |
| Average Home Value | $405,081 |
Housing Distribution
Address Breakdown
Residential
17,931
Single Family
17,496
Multi-Family
435
Businesses
384
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
Single Family
Built in 2004
0.35 Acres lot
$N/A/sqft
$683 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32909, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,975 (100%) |
| Owner Occupied HU | 14,147 (78.7%) |
| Renter Occupied HU | 2,960 (16.5%) |
| Vacant Housing Units | 868 ( 4.8%) |
| Median Home Value | $363,999 |
| Average Home Value | $405,081 |
Housing Distribution
Address Breakdown
Residential
17,931
Single Family
17,496
Multi-Family
435
Businesses
384
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jessica Acosta • Acosta Realty of Florida Inc.
Mls Name: Space Coast AOR
Mls ID: #1045813
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.