553 Wedge Ct SEPalm BayFL32909
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 553 Wedge Ct SE, Palm Bay, FL, 32909 in Palm Bay at $279,900 earns $2,261/mo in rent and nets $53/mo after the $1,259/mo payment, a 9.69% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $77,331 over five years. Ziffy Mortgage underwrites this on a 1.80 DSCR without U.S. credit history. With $2,578/yr in principal paydown, total projected return reaches $111,652.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 6.0% |
| Monthly Cash Flow | $53 | $450 |
City averages based on Palm Bay market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,261 |
| Total Monthly Debt Service | $2,096 |
| DSCR Ratio | 1.08x |
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.
Single Family
Built in 2002
N/A lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32909, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,975 (100%) |
| Owner Occupied HU | 14,147 (78.7%) |
| Renter Occupied HU | 2,960 (16.5%) |
| Vacant Housing Units | 868 ( 4.8%) |
| Median Home Value | $363,999 |
| Average Home Value | $405,081 |
Housing Distribution
Address Breakdown
Residential
17,931
Single Family
17,496
Multi-Family
435
Businesses
384
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
Single Family
Built in 2002
N/A lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32909, Palm Bay, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,975 (100%) |
| Owner Occupied HU | 14,147 (78.7%) |
| Renter Occupied HU | 2,960 (16.5%) |
| Vacant Housing Units | 868 ( 4.8%) |
| Median Home Value | $363,999 |
| Average Home Value | $405,081 |
Housing Distribution
Address Breakdown
Residential
17,931
Single Family
17,496
Multi-Family
435
Businesses
384
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gretza I Roman • HomeSmart Coastal Realty
Mls Name: Space Coast AOR
Mls ID: #1040870
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.