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$775,000

For Sale - Active
679 Mandalay Grove Ct, Merritt Island, FL 32953
6 Beds
5 Baths
4,112 Square Feet
0.40 Acres Lot
Built in 2012
For Sale - Active
1 Units
Checked: 6 hours ago
Updated: Jun 21, 2025 at 03:33AM

Investment Summary


Monthly Cash Flow
-$2,070
Cap Rate
3.1%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.49
Internal Rate of Return (5 years)
-9.5%

Property Description


0.40 Acres Lot
Built in 2012
For Sale - Active
1 Units

Welcome home! This beautifully maintained saltwater POOL & SPA home offers over 4,100 sq ft of thoughtfully designed living space, effortlessly blending elegance, comfort & functionality in the sought-after GATED community of Mandalay Grove. Foyer opens to soaring ceilings & a gorgeous staircase leading to a spacious loft w/closet + 5 bedrooms, including the expansive primary suite retreat w/private bath, dual vanities, soaking tub, tiled shower & spacious walk-in closets. The 1st floor features an open-concept Chef's kitchen w/granite & stainless appliances w/dinette, formal dining room & living room, perfect for entertaining. 6th bedroom is downstairs w/private full bath & walk-in closet, ideal for guests or multigenerational living. Tile & NEW wood floors throughout. Enjoy relaxing & hosting unforgettable gatherings from the covered patio overlooking the sparkling HEATED POOL & SPA. Less than 15 min to Kennedy Space Center, NASA, SpaceX & Blue Origin, 20 min to beach & 45 min to Orlando airport & area attractions!

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Location


Property Details


Parking

  • Description: Attached
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 2

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Sentry Management (Lynn Slater)
  • HOA Fee: $95/monthly

Land Information

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

Lot Information

  • Parcel ID: 243603020000A.00026.00
  • Lot Size: 17424 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 2012

Tax Information

  • Annual Tax: $4,811

Utilities

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

Location

  • County: Brevard

Listing Details


Listed by:
Emily Merbitz
KELLER WILLIAMS SPACE COAST
(321) 543-7983

Source:
Stellar MLS
MLS#: O6301985
Stellar MLS

Investment Summary


Monthly Cash Flow
-$2,070
Cap Rate
3.1%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.49
Internal Rate of Return (5 years)
-9.5%

Purchase Details

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Purchase price:
$775,000
Amount financed:
-$620,000
Down payment:
$155,000
Closing costs:
$23,250
Rehab costs:
$0
Initial cash invested:
$178,250
Square feet:
4,112
Cost per square foot:
$188
Monthly rent per square foot:
$0.88

Financing Details

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Loan amount:
$620,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$4,058
Property tax:
$401
Insurance:
$252
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,711

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,600 $43,200
Vacancy loss: (6%)
6% -$216 -$2,592
Operating income:
$3,384 $40,608

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$401-$4,812
Insurance: (7%)
7%-$252-$3,024
Property management: (8%)
8%-$288-$3,456
Repairs & maintenance: (5%)
5%-$180-$2,160
Capital expenditures: (5%)
5%-$180-$2,160
HOA fees: (3%)
3%-$95-$1,140
Total operating expenses: (39%)
39%-$1,396-$16,752

Cash Flow


Monthly Yearly
Net operating income:
$1,988 $23,856
Mortgage payments:
-$4,058 -$48,696
Cash flow:
$2,070 $24,840