585 Gateway DrMerritt IslandFL32952
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
Investment Highlights
Rental property for sale in Merritt Island at 585 Gateway Dr, Merritt Island, FL, 32952 priced at $499,900 pairs $3,397/mo rent with $79/mo cash flow after a $2,447/mo payment. Total monthly income equals $3,397/mo, and annual cash flow comes to $952/yr on $165,717 invested. Return on cash invested is 20.48% in year one, and rental yield stands at 8.15% on a $499,900 basis. Equity gained on principal adds $3,226/yr, and 5% annual appreciation accumulates to $138,113 by year five. Five-year ROI measures 106.52% and total cumulative return in cash reaches $176,520. For financing, Ziffy Mortgage’s DSCR program evaluates $3,397/mo property income against a $2,447/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1966
8,276 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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