2111 Spring Creek Cir NEPalm BayFL32905
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 2111 Spring Creek Cir NE, Palm Bay, FL, 32905 in Palm Bay is narrow, $81/mo net on $2,411/mo rent after the $1,428/mo debt service, but the property operates at break-even-plus, not a loss. At $317,500 with a 9.11% yield, the long-run equity case via 5% appreciation ($87,719 over five years) and $2,924/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.69 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $127,167.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 6.0% |
| Monthly Cash Flow | $81 | $450 |
City averages based on Palm Bay market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,411 |
| Total Monthly Debt Service | $2,204 |
| DSCR Ratio | 1.09x |
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.
Single Family
Built in 2001
8,276 sqft lot
$N/A/sqft
$398 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32905, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,522 (100%) |
| Owner Occupied HU | 6,818 (50.4%) |
| Renter Occupied HU | 5,409 (40.0%) |
| Vacant Housing Units | 1,295 ( 9.6%) |
| Median Home Value | $250,716 |
| Average Home Value | $271,753 |
Housing Distribution
Address Breakdown
Residential
13,064
Single Family
10,740
Multi-Family
2,324
Businesses
956
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
Single Family
Built in 2001
8,276 sqft lot
$N/A/sqft
$398 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32905, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,522 (100%) |
| Owner Occupied HU | 6,818 (50.4%) |
| Renter Occupied HU | 5,409 (40.0%) |
| Vacant Housing Units | 1,295 ( 9.6%) |
| Median Home Value | $250,716 |
| Average Home Value | $271,753 |
Housing Distribution
Address Breakdown
Residential
13,064
Single Family
10,740
Multi-Family
2,324
Businesses
956
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Christina Landwehr • Real Broker LLC
Mls Name: Space Coast AOR
Mls ID: #1048107
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.