1115 Gulf Of Mexico Dr UNIT 401Longboat KeyFL34228
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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 Longboat Key at 1115 Gulf Of Mexico Dr UNIT 401, Longboat Key, FL, 34228 uses $295,771 cash to close to unlock $15,531/yr annual cash flow and $1,294/mo monthly cash flow. Total monthly income runs $7,260/mo, and a $4,400/mo payment keeps the spread at $1,294/mo. Purchase price stands at $899,000, and rental yield measures 9.69% with $7,260/mo rent. Return on cash invested shows 25.31% in year one, and 5% annual appreciation builds toward $248,377 over five years. Five-year ROI reaches 132.37% and total cumulative return in cash records $391,522. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $7,260/mo property income covering a $4,400/mo payment rather than investor’s personal income.
Condo
Built in 1979
8.11 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
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Listed by: Reid Murphy • DEVELOPERS REALTY LBK, INC
Mls Name: Stellar MLS
Mls ID: #A4671664