2097 Hidden Grove Ln #105Merritt 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 2097 Hidden Grove Ln #105, Merritt Island, FL, 32953 generates $1,567/mo in rent and, after a $1,076/mo payment, leaves $108/mo in cash flow. Total monthly income is $1,567/mo, and annual cash flow is $1,296/yr on $72,897 invested. Return on cash invested sits at 21.69% in year one, and rental yield is 8.55% on a $219,900 entry. Equity gained on principal adds $1,419/yr, while 5% annual appreciation builds toward $60,754 over five years. Five-year ROI reaches 113.03% and total cumulative return in cash sums $82,396. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,567/mo property income rather than buyer’s personal income.
Condo
Built in 2005
1,742 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: Melissa Bagley • Denovo Realty
Mls Name: Space Coast AOR
Mls ID: #1052719