265 Spring Dr APT 1Merritt 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 265 Spring Dr APT 1, Merritt Island, FL, 32953 listed at $161,700 pairs $1,349/mo rent with a $791/mo payment. Total monthly income runs $1,349/mo. Return on cash invested measures 19.07% in year one, and rental yield registers 10.01% at a $161,700 basis. Equity gained on principal adds $1,043/yr, and annual property appreciation at 5% supports $44,675 by year five. Five-year ROI tracks 101.51% and total cumulative return in cash totals $54,415. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,349/mo property income relative to a $791/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1988
3,484 sqft lot
$N/A/sqft
$260 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
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Listed by: Patricia Lorenzo • 85 & Sunny Real Estate,PA
Mls Name: Space Coast AOR
Mls ID: #1022418
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.