250 N Banana River Dr APT J8Merritt IslandFL32952
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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 250 N Banana River Dr APT J8, Merritt Island, FL, 32952 uses $56,355 cash to close to unlock $2,303/yr annual cash flow and $192/mo monthly cash flow. Total monthly income runs $1,320/mo, and a $832/mo payment keeps the spread at $192/mo. Purchase price stands at $170,000, and rental yield measures 9.32% with $1,320/mo rent. Return on cash invested shows 24% in year one, and 5% annual appreciation builds toward $46,968 over five years. Five-year ROI reaches 125.35% and total cumulative return in cash records $70,641. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,320/mo property income covering a $832/mo payment rather than investor’s personal income.
Condo
Built in 1964
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32952, Merritt Island, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,883 (100%) |
| Owner Occupied HU | 7,588 (76.8%) |
| Renter Occupied HU | 1,504 (15.2%) |
| Vacant Housing Units | 791 ( 8.0%) |
| Median Home Value | $490,042 |
| Average Home Value | $594,380 |
Housing Distribution
Address Breakdown
Residential
9,202
Single Family
8,511
Multi-Family
691
Businesses
561
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Listed by: Aida N Teague • Southern Tropics R.E. LLC
Mls Name: Space Coast AOR
Mls ID: #1067495