420 Baker RdMerritt 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 420 Baker Rd, Merritt Island, FL, 32953 offers $2,413/mo rent that, after a $734/mo payment, leaves $1,418/mo cash flow. Total monthly income is $2,413/mo, and annual cash flow is $17,013/yr on $49,725 cash. Return on cash invested measures 54.12% in year one, and rental yield stands at 19.3% at a $150,000 entry. Equity gained on principal adds $968/yr while 5% annual appreciation compounds into $41,442 by year five. Five-year ROI records 286.9% and total cumulative return in cash reaches $142,662. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,413/mo property income versus a $734/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 1983
0.31 Acres 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: Karen M Dennis • RE/MAX Aerospace Realty
Mls Name: Space Coast AOR
Mls ID: #1023325
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.