55 Needle Blvd APT 77Merritt 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 55 Needle Blvd APT 77, Merritt Island, FL, 32953 offers $1,783/mo rent that, after a $673/mo payment, leaves $464/mo cash flow. Total monthly income is $1,783/mo, and annual cash flow is $5,563/yr on $45,581 cash. Return on cash invested measures 32.11% in year one, and rental yield stands at 15.56% at a $137,500 entry. Equity gained on principal adds $887/yr while 5% annual appreciation compounds into $37,989 by year five. Five-year ROI records 172.79% and total cumulative return in cash reaches $78,761. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,783/mo property income versus a $673/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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
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Listed by: Spence Servoss • Coldwell Banker Realty
Mls Name: Space Coast AOR
Mls ID: #1031523
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.