315 Cherry AveMerritt 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 315 Cherry Ave, Merritt Island, FL, 32953 offers a 13.34% rental yield on a $388,000 purchase with $4,312/mo rent. Total monthly income registers $4,312/mo, and a $1,899/mo payment leaves $1,553/mo available for distribution. Annual cash flow reaches $18,635/yr on $128,622 to close, and return on cash invested stands at 34.4% in year one. Equity gained on principal adds $2,504/yr while 5% annual appreciation supports $107,197 over five years. Portfolio math shows five-year ROI at 181.74% and total cumulative return in cash at $233,752. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,312/mo property income against a $1,899/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1964
7,840 sqft lot
$N/A/sqft
No 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: Brandon Thompson • Florida Lifestyle Realty LLC
Mls Name: Space Coast AOR
Mls ID: #1045719
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.