8941 Lake Dr APT 402Cape CanaveralFL32920
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeMost investment properties struggle to clear the 1.25x DSCR minimum. 8941 Lake Dr APT 402, Cape Canaveral, FL, 32920 in Cape Canaveral clears it at 1.77, a meaningful distinction for the Ziffy Mortgage DSCR approval process. Rental yield 9.56%. Strong coverage makes approval clean and leaves room for vacancy without breaching underwriting thresholds. Five-year appreciation: $116,038; $3,868/yr in principal equity; total projected return: $144,673.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.0% |
| Monthly Cash Flow | $(298) | $300 |
City averages based on Cape Canaveral market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,347 |
| Total Monthly Debt Service | $3,477 |
| DSCR Ratio | 0.96x |
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 2002
2,178 sqft lot
$N/A/sqft
$695 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 2002
2,178 sqft lot
$N/A/sqft
$695 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: John Bond • Cape Canaveral Real Estate
Mls Name: Space Coast AOR
Mls ID: #1046580
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.