7520 Ridgewood Ave APT 705Cape CanaveralFL32920
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 Cape Canaveral at 7520 Ridgewood Ave APT 705, Cape Canaveral, FL, 32920 generates $3,637/mo in rent, after a $3,377/mo payment. Total monthly income is $3,637/mo. Return on cash invested sits at 9.35% in year one, and rental yield is 6.33% on a $690,000 entry. Equity gained on principal adds $4,452/yr, while 5% annual appreciation builds toward $190,634 over five years. Five-year ROI reaches 48.85% and total cumulative return in cash sums $110,888. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,637/mo property income rather than buyer’s personal income.
Condo
Built in 1975
1,306 sqft lot
$N/A/sqft
$1,085 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brandon Thompson • Florida Lifestyle Realty LLC
Mls Name: Space Coast AOR
Mls ID: #1013451
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.