200 S Sykes Creek Pkwy APT A105Merritt 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
Investment property for sale in Merritt Island at 200 S Sykes Creek Pkwy APT A105, Merritt Island, FL, 32952 offers a 10.33% rental yield on a $289,000 purchase with $2,488/mo rent. Total monthly income registers $2,488/mo, and a $1,415/mo payment leaves $570/mo available for distribution. Annual cash flow reaches $6,836/yr on $95,804 to close, and return on cash invested stands at 27.04% in year one. Equity gained on principal adds $1,865/yr while 5% annual appreciation supports $79,845 over five years. Portfolio math shows five-year ROI at 141.69% and total cumulative return in cash at $135,746. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,488/mo property income against a $1,415/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1985
1,306 sqft 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: Patricia Teachman • RE/MAX Elite
Mls Name: Space Coast AOR
Mls ID: #1048866