55 Needle Blvd APT 82Merritt IslandFL32953
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 55 Needle Blvd APT 82, Merritt Island, FL, 32953 in Merritt Island is the 1.77 coverage ratio: rent of $1,117/mo versus a $630/mo debt payment on a $140,000 property. Rental yield 9.57%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $38,679 by year five, with $1,289/yr in equity from paydown. Total projected cumulative return: $41,172.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 5.0% |
| Monthly Cash Flow | $(217) | $250 |
City averages based on Merritt Island market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,117 |
| Total Monthly Debt Service | $1,278 |
| DSCR Ratio | 0.87x |
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: #1030658
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.