615 Ocean Park Lane #V240Cape CanaveralFL32920
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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 Cape Canaveral at 615 Ocean Park Lane #V240, Cape Canaveral, FL, 32920 generates $2,798/mo in rent and, after a $1,649/mo payment, leaves $562/mo in cash flow. Total monthly income is $2,798/mo, and annual cash flow is $6,745/yr on $111,716 invested. Return on cash invested sits at 25.95% in year one, and rental yield is 9.96% on a $337,000 entry. Equity gained on principal adds $2,175/yr, while 5% annual appreciation builds toward $93,107 over five years. Five-year ROI reaches 135.84% and total cumulative return in cash sums $151,752. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,798/mo property income rather than buyer’s personal income.
Condo
Built in 2003
2,614 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32920, Cape Canaveral, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,198 (100%) |
| Owner Occupied HU | 3,329 (40.6%) |
| Renter Occupied HU | 2,467 (30.1%) |
| Vacant Housing Units | 2,402 (29.3%) |
| Median Home Value | $488,323 |
| Average Home Value | $528,211 |
Housing Distribution
Address Breakdown
Residential
7,026
Single Family
4,642
Multi-Family
2,384
Businesses
572
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Listed by: Norman McDonald • Donohue Real Estate, LLC
Mls Name: BeachesMLS
Mls ID: #RX-11115660