10050 Lake Cove Dr APT 202Fort MyersFL33908
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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 Fort Myers at 10050 Lake Cove Dr APT 202, Fort Myers, FL, 33908 uses $85,693 cash to close to unlock $645/yr annual cash flow and $54/mo monthly cash flow. Total monthly income runs $1,769/mo, and a $1,265/mo payment keeps the spread at $54/mo. Purchase price stands at $258,500, and rental yield measures 8.21% with $1,769/mo rent. Return on cash invested shows 20.66% in year one, and 5% annual appreciation builds toward $71,419 over five years. Five-year ROI reaches 107.47% and total cumulative return in cash records $92,091. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,769/mo property income covering a $1,265/mo payment rather than investor’s personal income.
Condo
Built in 2006
3,894 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33908, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 31,029 (100%) |
| Owner Occupied HU | 15,858 (51.1%) |
| Renter Occupied HU | 5,421 (17.5%) |
| Vacant Housing Units | 9,750 (31.4%) |
| Median Home Value | $495,639 |
| Average Home Value | $585,764 |
Housing Distribution
Address Breakdown
Residential
26,065
Single Family
17,390
Multi-Family
8,675
Businesses
1,171
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Listed by: Judy Mitchell • Cornerstone Coastal Properties
Mls Name: Florida Gulf Coast MLS
Mls ID: #2025013315