1042 SE 23rd TerHomesteadFL33035
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 1042 SE 23rd Ter, Homestead, FL, 33035 in Homestead at $357,000 earns $3,060/mo in rent and nets $23/mo after the $1,605/mo payment, a 10.29% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $98,633 over five years. Ziffy Mortgage underwrites this on a 1.91 DSCR without U.S. credit history. With $3,288/yr in principal paydown, total projected return reaches $140,497.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 6.0% |
| Monthly Cash Flow | $23 | $300 |
City averages based on Homestead market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,060 |
| Total Monthly Debt Service | $2,895 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Townhouse
Built in 2021
N/A lot
$N/A/sqft
$422 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33035, Homestead, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,268 (100%) |
| Owner Occupied HU | 3,713 (51.1%) |
| Renter Occupied HU | 3,102 (42.7%) |
| Vacant Housing Units | 453 ( 6.2%) |
| Median Home Value | $441,016 |
| Average Home Value | $516,471 |
Housing Distribution
Address Breakdown
Residential
6,779
Single Family
4,525
Multi-Family
2,254
Businesses
34
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
Townhouse
Built in 2021
N/A lot
$N/A/sqft
$422 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33035, Homestead, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,268 (100%) |
| Owner Occupied HU | 3,713 (51.1%) |
| Renter Occupied HU | 3,102 (42.7%) |
| Vacant Housing Units | 453 ( 6.2%) |
| Median Home Value | $441,016 |
| Average Home Value | $516,471 |
Housing Distribution
Address Breakdown
Residential
6,779
Single Family
4,525
Multi-Family
2,254
Businesses
34
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dayane Nunez • RE/MAX United Realty
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11679110
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.