202 Ivory Coral Ln #504Merritt IslandFL32953
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe cash-flow margin at 202 Ivory Coral Ln #504, Merritt Island, FL, 32953 in Merritt Island is narrow, $152/mo net on $3,366/mo rent after the $1,782/mo debt service, but the property operates at break-even-plus, not a loss. At $396,400 with a 10.19% yield, the long-run equity case via 5% appreciation ($109,518 over five years) and $3,651/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.89 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $163,479.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 5.0% |
| Monthly Cash Flow | $152 | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,366 |
| Total Monthly Debt Service | $3,056 |
| DSCR Ratio | 1.10x |
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.
Condo
Built in 2020
435 sqft lot
$N/A/sqft
$358 monthly 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
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
Condo
Built in 2020
435 sqft lot
$N/A/sqft
$358 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A