195 Cherry AveMerritt IslandFL32953
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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 195 Cherry Ave, Merritt Island, FL, 32953 priced at $340,000 pairs $2,936/mo rent with $680/mo cash flow after a $1,664/mo payment. Total monthly income equals $2,936/mo, and annual cash flow comes to $8,158/yr on $112,710 invested. Return on cash invested is 27.15% in year one, and rental yield stands at 10.36% on a $340,000 basis. Equity gained on principal adds $2,194/yr, and 5% annual appreciation accumulates to $93,936 by year five. Five-year ROI measures 142.24% and total cumulative return in cash reaches $160,314. For financing, Ziffy Mortgage’s DSCR program evaluates $2,936/mo property income against a $1,664/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1964
10,018 sqft lot
$N/A/sqft
No 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
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Listed by: Gilbert Webb • RE/MAX Aerospace Realty
Mls Name: Space Coast AOR
Mls ID: #1048374
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.