16401 SW 248th StHomesteadFL33031
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeNot flashy, but dependably profitable, 16401 SW 248th St, Homestead, FL, 33031 in Homestead is listed at $730,000 and delivers $5,388/mo in rent and $544/mo in net monthly cash flow. The 8.86% yield and 1.64 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $201,686 over five years, and $6,723/yr in principal reduction supplements cash return. Total projected cumulative return: $313,201.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 6.0% |
| Monthly Cash Flow | $544 | $300 |
City averages based on Homestead market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,388 |
| Total Monthly Debt Service | $4,554 |
| DSCR Ratio | 1.18x |
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.
Single Family
Built in 1993
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33031, Homestead, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,345 (100%) |
| Owner Occupied HU | 1,870 (79.7%) |
| Renter Occupied HU | 358 (15.3%) |
| Vacant Housing Units | 117 ( 5.0%) |
| Median Home Value | $646,261 |
| Average Home Value | $735,991 |
Housing Distribution
Address Breakdown
Residential
2,290
Single Family
2,290
Multi-Family
0
Businesses
145
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
Single Family
Built in 1993
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33031, Homestead, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,345 (100%) |
| Owner Occupied HU | 1,870 (79.7%) |
| Renter Occupied HU | 358 (15.3%) |
| Vacant Housing Units | 117 ( 5.0%) |
| Median Home Value | $646,261 |
| Average Home Value | $735,991 |
Housing Distribution
Address Breakdown
Residential
2,290
Single Family
2,290
Multi-Family
0
Businesses
145
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rachel Riva • Redfin Corporation
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11835065
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.