114 Somerset FWest Palm BeachFL33417
INVESTMENT ANALYSIS
Investment Verdict
Solid Income114 Somerset F, West Palm Beach, FL, 33417 in West Palm Beach is a solid income-producing rental, 9.33% gross yield, $2,014/mo rent, $295/mo net cash flow on a $259,000 buy. DSCR 1.73 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $71,557 and $2,385/yr in principal reduction project a total cumulative return of $117,677.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 7.0% |
| Monthly Cash Flow | $295 | $1,200 |
City averages based on West Palm Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,014 |
| Total Monthly Debt Service | $1,616 |
| DSCR Ratio | 1.25x |
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.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33417, West Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,018 (100%) |
| Owner Occupied HU | 9,428 (49.6%) |
| Renter Occupied HU | 6,660 (35.0%) |
| Vacant Housing Units | 2,930 (15.4%) |
| Median Home Value | $154,618 |
| Average Home Value | $254,551 |
Housing Distribution
Address Breakdown
Residential
17,514
Single Family
8,570
Multi-Family
8,944
Businesses
316
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
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33417, West Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,018 (100%) |
| Owner Occupied HU | 9,428 (49.6%) |
| Renter Occupied HU | 6,660 (35.0%) |
| Vacant Housing Units | 2,930 (15.4%) |
| Median Home Value | $154,618 |
| Average Home Value | $254,551 |
Housing Distribution
Address Breakdown
Residential
17,514
Single Family
8,570
Multi-Family
8,944
Businesses
316
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Janna Zaidspiner • LAER Realty Partners Bowen/Wellington
Mls Name: BeachesMLS
Mls ID: #RX-11129098