320 Patrick 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
Rental property for sale in Merritt Island at 320 Patrick Ave, Merritt Island, FL, 32953 priced at $269,900 converts $2,267/mo rent into $476/mo cash flow after a $1,321/mo obligation. Total monthly income equals $2,267/mo, and annual cash flow totals $5,711/yr on $89,472 invested. Return on cash invested prints 26.29% in year one, and rental yield reads 10.08% against a $269,900 entry. Equity gained on principal adds $1,742/yr, while 5% annual appreciation compiles into $74,568 by year five. Five-year ROI reaches 137.63% and total cumulative return in cash sums $123,138. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,267/mo property income covering a $1,321/mo payment, not borrower’s personal income.
Single Family
Built in 1961
7,405 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: Tara Humes • Brevard Investments LLC
Mls Name: Space Coast AOR
Mls ID: #1051206