55 Needle Blvd APT 65Merritt IslandFL32953
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt 1.71, 55 Needle Blvd APT 65, Merritt Island, FL, 32953 in Merritt Island sits at the top of Ziffy Mortgage's DSCR coverage band, a significant advantage for non-U.S. buyers closing without domestic income documentation. Rental yield 9.26%. The 9.26% yield is backed by 5% annual appreciation projecting $38,679 in value gain, plus $1,289/yr in principal reduction. Total projected cumulative return: $39,324.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 5.0% |
| Monthly Cash Flow | $(244) | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,080 |
| Total Monthly Debt Service | $1,269 |
| DSCR Ratio | 0.85x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1964
1,742 sqft lot
$N/A/sqft
$375 monthly 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
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 1964
1,742 sqft lot
$N/A/sqft
$375 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Danielle T Abbott • Coldwell Banker Realty
Mls Name: Space Coast AOR
Mls ID: #1030660
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.