2135 N Courtenay Pkwy APT A107Merritt IslandFL32953
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe headline number at 2135 N Courtenay Pkwy APT A107, Merritt Island, FL, 32953 in Merritt Island is the 1.89 coverage ratio: rent of $1,379/mo versus a $728/mo debt payment on a $162,000 property. Rental yield 10.21%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $44,758 by year five, with $1,492/yr in equity from paydown. Total projected cumulative return: $55,825.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 5.0% |
| Monthly Cash Flow | $(121) | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,379 |
| Total Monthly Debt Service | $1,436 |
| DSCR Ratio | 0.96x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1974
N/A lot
$N/A/sqft
$425 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
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
Condo
Built in 1974
N/A lot
$N/A/sqft
$425 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Richard Lemon • Keller Williams Space Coast
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11702349
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.