550 S Banana River Dr APT 203Merritt 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
Investment property for sale in Merritt Island at 550 S Banana River Dr APT 203, Merritt Island, FL, 32952 earns from $3,678/mo rent with a $2,888/mo payment. Total monthly income totals $3,678/mo. ROI tracks 18.59% on current figures, and rental yield reads 7.48% at a $590,000 purchase. Equity gained on principal adds $3,807/yr, and 5% annual appreciation supports $163,006 over five years. Five-year ROI reaches 96.35% and total cumulative return in cash sums $187,024. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,678/mo property income instead of your personal income.
Condo
Built in 2007
1,742 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: Janis E Shealy • Better Homes & Gardens RE Star
Mls Name: Space Coast AOR
Mls ID: #1055300