1602 SE 31st Ct #1602HomesteadFL33035
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1602 SE 31st Ct #1602, Homestead, FL, 33035 in Homestead hard to pass up. The 11.71% gross yield on a $310,000 purchase results in $3,025/mo in rent and $653/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.17). Annual cash flow of $7,836, five-year appreciation of $85,647, and $2,855/yr in equity build-up combine for a projected total cumulative return of $161,568.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 6.0% |
| Monthly Cash Flow | $653 | $300 |
City averages based on Homestead market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,025 |
| Total Monthly Debt Service | $2,249 |
| DSCR Ratio | 1.35x |
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 2005
N/A lot
$N/A/sqft
$315 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 2005
N/A lot
$N/A/sqft
$315 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