118 38th St #1Mexico BeachFL32456
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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 Mexico Beach at 118 38th St #1, Mexico Beach, FL, 32456 offers a 4.78% rental yield on a $824,900 purchase with $3,286/mo rent. 47% in year one. Equity gained on principal adds $5,323/yr while 5% annual appreciation supports $227,905 over five years. Portfolio math shows five-year ROI at 27.76% and total cumulative return in cash at $75,337. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,286/mo property income against a $4,037/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2006
N/A lot
$N/A/sqft
$3,227 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32456, Port Saint Joe, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,898 (100%) |
| Owner Occupied HU | 3,107 (45.0%) |
| Renter Occupied HU | 755 (10.9%) |
| Vacant Housing Units | 3,036 (44.0%) |
| Median Home Value | $381,495 |
| Average Home Value | $519,804 |
Housing Distribution
Address Breakdown
Residential
4,651
Single Family
4,470
Multi-Family
181
Businesses
390
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Listed by: Billy Joe Smiley • Port Realty Group
Mls Name: Forgotten Coast Realtor Association
Mls Provider:
Mls ID: #316710
Disclaimer: Property information provided by the RAFGC MLS a service of the REALTOR Association of Franklin & Gulf Counties. IDX information is provided exclusively for consumers personal, non-commercial use, and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS.