3 Fairway Dr APT 9Cocoa BeachFL32931
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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
Rental property for sale in Cocoa Beach at 3 Fairway Dr APT 9, Cocoa Beach, FL, 32931 priced at $229,500 converts $2,216/mo rent into $693/mo cash flow after a $1,123/mo obligation. Total monthly income equals $2,216/mo, and annual cash flow totals $8,319/yr on $76,079 invested. Return on cash invested prints 30.84% in year one, and rental yield reads 11.59% against a $229,500 entry. Equity gained on principal adds $1,481/yr, while 5% annual appreciation compiles into $63,407 by year five. Five-year ROI reaches 162.12% and total cumulative return in cash sums $123,342. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,216/mo property income covering a $1,123/mo payment, not borrower’s personal income.
Condo
Built in 1973
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32931, Cocoa Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,899 (100%) |
| Owner Occupied HU | 5,582 (51.2%) |
| Renter Occupied HU | 1,807 (16.6%) |
| Vacant Housing Units | 3,510 (32.2%) |
| Median Home Value | $579,461 |
| Average Home Value | $632,244 |
Housing Distribution
Address Breakdown
Residential
8,985
Single Family
4,726
Multi-Family
4,259
Businesses
667
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Listed by: Edward P Gelles • Edge Properties
Mls Name: Space Coast AOR
Mls ID: #1060113