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$449,900

For Sale - Active
1340 Demitasse Ave, Merritt Island, FL 32952
3 Beds
2 Baths
1,321 Square Feet
0.20 Acres Lot
Built in 1969
For Sale - Active
1 Units
Checked: 21 hours ago
Updated: Sep 14, 2025 at 10:16AM

Investment Summary


Monthly Cash Flow
-$590
Cap Rate
4.6%
Cash-on-Cash Return
-6.8%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.6%

Property Description


0.20 Acres Lot
Built in 1969
For Sale - Active
1 Units

Live the Florida dream in this stunning Merritt Island pool home! Take a dip in the pool (resurfaced 2021) surrounded by lush tropical landscaping & feel like you’re on vacation every day! Immaculately maintained & updated so you can buy with peace of mind: generator hookup, hurricane shutters, roof 2017, HVAC 2019, HWH 2016, new plumbing (no cast iron!) 2023, smart entry garage door & irrigation (2023). The custom kitchen shines with leathered quartzite counters, a gas range with convenient double oven, pull-out shelves & spice rack, and the built-in beer taps will impress when you’re entertaining. A powered outbuilding (110V/220V, AC) gives you extra space & tops it all off - perfect for a workshop, office, or pool house. Washer/dryer, refrigerators & generator convey. Minutes from KSC, beaches, shopping, dining & cruise terminals. Easy access to the Beach Line will get you to the airport & theme parks in no time. Love where you live - schedule your showing today!

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Location


Property Details


Parking

  • Description: Attached, Garage Door Opener
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 243718250000G.00010.00
  • Lot Size: 8712 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1969

Tax Information

  • Annual Tax: $2,603

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Brevard

Listing Details


Listed by:
James Mutter
MUTTER REALTY
(321) 269-9855

Source:
Stellar MLS
MLS#: O6335933
Stellar MLS

Investment Summary


Monthly Cash Flow
-$590
Cap Rate
4.6%
Cash-on-Cash Return
-6.8%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.6%

Purchase Details

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Purchase price:
$449,900
Amount financed:
-$359,920
Down payment:
$89,980
Closing costs:
$13,497
Rehab costs:
$0
Initial cash invested:
$103,477
Square feet:
1,321
Cost per square foot:
$341
Monthly rent per square foot:
$2.12

Financing Details

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Loan amount:
$359,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,305
Property tax:
$217
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,718

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$217-$2,604
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$917-$11,004

Cash Flow


Monthly Yearly
Net operating income:
$1,715 $20,580
Mortgage payments:
-$2,305 -$27,660
Cash flow:
-$590 -$7,080