6770 Ridgewood Ave APT 301Cocoa BeachFL32931
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 6770 Ridgewood Ave APT 301, Cocoa Beach, FL, 32931 in Cocoa Beach. Rental yield 5.93%. At $805,000 with 5.93% gross yield, current distributions are modest, but the 5% appreciation rate projects $222,407 in new equity by year five, complemented by $7,414/yr in principal paydown. Ziffy Mortgage's DSCR loan (1.10) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $161,645.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.9% | 6.0% |
| Monthly Cash Flow | $(2,320) | $300 |
City averages based on Cocoa Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,980 |
| Total Monthly Debt Service | $5,980 |
| DSCR Ratio | 0.67x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1989
3,049 sqft lot
$N/A/sqft
$883 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32931, Cocoa Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,899 (100%) |
| Owner Occupied HU | 5,582 (51.2%) |
| Renter Occupied HU | 1,807 (16.6%) |
| Vacant Housing Units | 3,510 (32.2%) |
| Median Home Value | $579,461 |
| Average Home Value | $632,244 |
Housing Distribution
Address Breakdown
Residential
8,985
Single Family
4,726
Multi-Family
4,259
Businesses
667
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
Condo
Built in 1989
3,049 sqft lot
$N/A/sqft
$883 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32931, Cocoa Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,899 (100%) |
| Owner Occupied HU | 5,582 (51.2%) |
| Renter Occupied HU | 1,807 (16.6%) |
| Vacant Housing Units | 3,510 (32.2%) |
| Median Home Value | $579,461 |
| Average Home Value | $632,244 |
Housing Distribution
Address Breakdown
Residential
8,985
Single Family
4,726
Multi-Family
4,259
Businesses
667
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jon Scott Santy • Atlantic Group Real Estate
Mls Name: Space Coast AOR
Mls ID: #1052250
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.