7605 Ridgewood Ave APT 3-1Cape CanaveralFL32920
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 7605 Ridgewood Ave APT 3-1, Cape Canaveral, FL, 32920 in Cape Canaveral earns a 11.11% gross yield at $283,990. Rent of $2,629/mo nets $440/mo after the $1,277/mo mortgage. The 2.06 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $78,461 and $2,616/yr in equity accumulation project a total cumulative return of $137,871.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.1% | 6.0% |
| Monthly Cash Flow | $440 | $300 |
City averages based on Cape Canaveral market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,629 |
| Total Monthly Debt Service | $2,077 |
| DSCR Ratio | 1.27x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1968
1,307 sqft lot
$N/A/sqft
$305 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
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 1968
1,307 sqft lot
$N/A/sqft
$305 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