474 Newfound Harbor DrMerritt IslandFL32952
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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 474 Newfound Harbor Dr, Merritt Island, FL, 32952 priced at $389,000 converts $2,834/mo rent into $252/mo cash flow after a $1,904/mo obligation. Total monthly income equals $2,834/mo, and annual cash flow totals $3,030/yr on $128,954 invested. Return on cash invested prints 22.26% in year one, and rental yield reads 8.74% against a $389,000 entry. Equity gained on principal adds $2,510/yr, while 5% annual appreciation compiles into $107,474 by year five. Five-year ROI reaches 116.04% and total cumulative return in cash sums $149,634. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,834/mo property income covering a $1,904/mo payment, not borrower’s personal income.
Single Family
Built in 1968
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32952, Merritt Island, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,883 (100%) |
| Owner Occupied HU | 7,588 (76.8%) |
| Renter Occupied HU | 1,504 (15.2%) |
| Vacant Housing Units | 791 ( 8.0%) |
| Median Home Value | $490,042 |
| Average Home Value | $594,380 |
Housing Distribution
Address Breakdown
Residential
9,202
Single Family
8,511
Multi-Family
691
Businesses
561
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Listed by: Lori Ann Migliore • Blue Marlin Real Estate
Mls Name: Space Coast AOR
Mls ID: #1053390