205 Palmetto Ave APT 209Merritt 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
Investment property for sale in Merritt Island at 205 Palmetto Ave APT 209, Merritt Island, FL, 32953 earns $512/mo cash flow from $1,990/mo rent with a $734/mo payment. Total monthly income totals $1,990/mo, and annual cash flow totals $6,145/yr on $49,692 capital. ROI tracks 32.27% on current figures, and rental yield reads 15.93% at a $149,900 purchase. Equity gained on principal adds $967/yr, and 5% annual appreciation supports $41,415 over five years. Five-year ROI reaches 174.09% and total cumulative return in cash sums $86,507. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,990/mo property income instead of your personal income.
Condo
Built in 1983
2,178 sqft lot
$N/A/sqft
$448 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
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Listed by: Lee Romano • Keller Williams Space Coast
Mls Name: Space Coast AOR
Mls ID: #1050729
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.