2135 N Courtenay Pkwy #202Merritt 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 2135 N Courtenay Pkwy #202, Merritt Island, FL, 32953 uses $41,438 cash to close to unlock $2,091/yr annual cash flow and $174/mo monthly cash flow. Total monthly income runs $1,004/mo, and a $612/mo payment keeps the spread at $174/mo. Purchase price stands at $125,000, and rental yield measures 9.64% with $1,004/mo rent. Return on cash invested shows 24.96% in year one, and 5% annual appreciation builds toward $34,535 over five years. Five-year ROI reaches 130.59% and total cumulative return in cash records $54,113. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,004/mo property income covering a $612/mo payment rather than investor’s personal income.
Condo
Built in 1974
3,049 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: Mike Davis • Davis Realty Group, LLC
Mls Name: Space Coast AOR
Mls ID: #1053563