250 S Sykes Creek Pkwy APT B705Merritt IslandFL32952
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 250 S Sykes Creek Pkwy APT B705, Merritt Island, FL, 32952 in Merritt Island is the 1.65 coverage ratio: rent of $2,621/mo versus a $1,587/mo debt payment on a $353,000 property. Rental yield 8.91%. 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 $97,527 by year five, with $3,251/yr in equity from paydown. Total projected cumulative return: $113,588.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 5.0% |
| Monthly Cash Flow | $(370) | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,621 |
| Total Monthly Debt Service | $2,850 |
| DSCR Ratio | 0.92x |
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 1986
871.20 sqft lot
$N/A/sqft
$636 monthly 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
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 1986
871.20 sqft lot
$N/A/sqft
$636 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael J Artelli • RE/MAX Elite
Mls Name: Space Coast AOR
Mls ID: #1054282
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.