2135 N Courtenay Pkwy #236Merritt 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 #236, Merritt Island, FL, 32953 uses $72,930 cash to close to unlock $3,838/yr annual cash flow and $320/mo monthly cash flow. Total monthly income runs $1,780/mo, and a $1,077/mo payment keeps the spread at $320/mo. Purchase price stands at $220,000, and rental yield measures 9.71% with $1,780/mo rent. Return on cash invested shows 25.17% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 131.66% and total cumulative return in cash records $96,023. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,780/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Condo
Built in 1974
3,920 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: Julie Meyer • RE/MAX Solutions
Mls Name: Space Coast AOR
Mls ID: #1061884