322 3rd StMerritt 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 322 3rd St, Merritt Island, FL, 32953 generates $2,057/mo in rent and, after a $1,481/mo payment, leaves $49/mo in cash flow. Total monthly income is $2,057/mo, and annual cash flow is $590/yr on $100,279 invested. Return on cash invested sits at 20.5% in year one, and rental yield is 8.16% on a $302,500 entry. Equity gained on principal adds $1,952/yr, while 5% annual appreciation builds toward $83,575 over five years. Five-year ROI reaches 106.63% and total cumulative return in cash sums $106,925. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,057/mo property income rather than buyer’s personal income.
Single Family
Built in 1959
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: Amy L. Moon • RLL Real Estate Group
Mls Name: Space Coast AOR
Mls ID: #1059817