640 N Nova Rd APT 409Ormond BeachFL32174
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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 Ormond Beach at 640 N Nova Rd APT 409, Ormond Beach, FL, 32174 generates $1,652/mo in rent, after a $808/mo payment. Total monthly income is $1,652/mo. Return on cash invested sits at 18.91% in year one, and rental yield is 12.01% on a $165,000 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation builds toward $45,586 over five years. Five-year ROI reaches 102.94% and total cumulative return in cash sums $56,303. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,652/mo property income rather than buyer’s personal income.
Condo
Built in 1976
N/A lot
$N/A/sqft
$555 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32174, Ormond Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 28,328 (100%) |
| Owner Occupied HU | 21,185 (74.8%) |
| Renter Occupied HU | 4,906 (17.3%) |
| Vacant Housing Units | 2,237 ( 7.9%) |
| Median Home Value | $398,244 |
| Average Home Value | $445,343 |
Housing Distribution
Address Breakdown
Residential
26,922
Single Family
23,072
Multi-Family
3,850
Businesses
1,985
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Listed by: Waz Khan • Adams, Cameron & Co., Realtors
Mls Name: DBAMLS
Mls Provider:
Mls ID: #1216773
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.