417 Reading St SEPalm BayFL32909
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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 Palm Bay at 417 Reading St SE, Palm Bay, FL, 32909 priced at $270,000 pairs $1,997/mo rent with $205/mo cash flow after a $1,322/mo payment. Total monthly income equals $1,997/mo, and annual cash flow comes to $2,457/yr on $89,505 invested. Return on cash invested is 22.65% in year one, and rental yield stands at 8.88% on a $270,000 basis. Equity gained on principal adds $1,742/yr, and 5% annual appreciation accumulates to $74,596 by year five. Five-year ROI measures 118.16% and total cumulative return in cash reaches $105,757. For financing, Ziffy Mortgage’s DSCR program evaluates $1,997/mo property income against a $1,322/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2023
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32909, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,975 (100%) |
| Owner Occupied HU | 14,147 (78.7%) |
| Renter Occupied HU | 2,960 (16.5%) |
| Vacant Housing Units | 868 ( 4.8%) |
| Median Home Value | $363,999 |
| Average Home Value | $405,081 |
Housing Distribution
Address Breakdown
Residential
17,931
Single Family
17,496
Multi-Family
435
Businesses
384
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Listed by: Luis E. Rojas • Redfin Corp.
Mls Name: Space Coast AOR
Mls ID: #1049538
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.