8498 Ridgewood Ave APT 2305Cape 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
Investment property for sale in Cape Canaveral at 8498 Ridgewood Ave APT 2305, Cape Canaveral, FL, 32920 offers a 6.85% rental yield on a $615,000 purchase with $3,510/mo rent. 67% in year one. Equity gained on principal adds $3,969/yr while 5% annual appreciation supports $169,913 over five years. Portfolio math shows five-year ROI at 86.05% and total cumulative return in cash at $174,101. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,510/mo property income against a $3,010/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1981
2,613 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: Kate Flack • LPT Realty LLC
Mls Name: Space Coast AOR
Mls ID: #1066279