16260 Kelly Cove Dr APT 239Fort MyersFL33908
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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 Fort Myers at 16260 Kelly Cove Dr APT 239, Fort Myers, FL, 33908 offers a 8.2% rental yield on a $309,900 purchase with $2,118/mo rent. Total monthly income registers $2,118/mo, and a $1,517/mo payment leaves $61/mo available for distribution. Annual cash flow reaches $735/yr on $102,732 to close, and return on cash invested stands at 20.62% in year one. Equity gained on principal adds $2,000/yr while 5% annual appreciation supports $85,620 over five years. Portfolio math shows five-year ROI at 107.29% and total cumulative return in cash at $110,220. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,118/mo property income against a $1,517/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33908, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 31,029 (100%) |
| Owner Occupied HU | 15,858 (51.1%) |
| Renter Occupied HU | 5,421 (17.5%) |
| Vacant Housing Units | 9,750 (31.4%) |
| Median Home Value | $495,639 |
| Average Home Value | $585,764 |
Housing Distribution
Address Breakdown
Residential
26,065
Single Family
17,390
Multi-Family
8,675
Businesses
1,171
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Listed by: Kim D Carman • eXp Realty, LLC
Mls Name: Sanibel And Captiva Island AOR
Mls ID: #2251077