515 Landings Way APT 82Merritt IslandFL32952
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 515 Landings Way APT 82, Merritt Island, FL, 32952 in Merritt Island. Priced at $149,900, it generates $1,792/mo in gross rent and $797/mo in net monthly cash flow, a 14.35% yield that comfortably supports the 2.66 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $9,567. Five-year appreciation: $41,415. Equity from principal paydown: $1,381/yr. Total projected cumulative return: $108,443.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.4% | 5.0% |
| Monthly Cash Flow | $797 | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,792 |
| Total Monthly Debt Service | $935 |
| DSCR Ratio | 1.92x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1984
2,178 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1984
2,178 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Aaron Young • Island Pineapple Realty, LLC
Mls Name: Space Coast AOR
Mls ID: #1067166