210 Spring Dr APT 2Merritt 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 210 Spring Dr APT 2, Merritt Island, FL, 32953 offers a 9.34% rental yield on a $242,000 purchase with $1,884/mo rent. Total monthly income registers $1,884/mo, and a $1,184/mo payment leaves $8/mo available for distribution. Annual cash flow reaches $102/yr on $80,223 to close, and return on cash invested stands at 20.04% in year one. Equity gained on principal adds $1,562/yr while 5% annual appreciation supports $66,860 over five years. Portfolio math shows five-year ROI at 105.6% and total cumulative return in cash at $84,714. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,884/mo property income against a $1,184/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1988
3,485 sqft lot
$N/A/sqft
$265 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: Lindsay Norton • RE/MAX SOLUTIONS
Mls Name: Stellar MLS
Mls Provider:
Mls ID: #O6271153
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. Some IDX listings have been excluded from this website. Listing Information presented by local MLS brokerage: Zillow, Inc - (407) 904-3511