200 S Banana River Dr LOT E1Merritt IslandFL32952
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.26% yield at 200 S Banana River Dr LOT E1, Merritt Island, FL, 32952 in Merritt Island is solid, but the $479/mo payment compresses net cash flow to $124/mo at $106,500. 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 $29,424 by year five, and $981/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.85) without U.S. income documentation. Total projected return: $52,084.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 5.0% |
| Monthly Cash Flow | $124 | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $885 |
| Total Monthly Debt Service | $664 |
| DSCR Ratio | 1.33x |
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.
Manufactured
Built in 2008
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
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
Manufactured
Built in 2008
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Scott Bachelor • Canedo Realty
Mls Name: My State MLS
Mls ID: #11526116