1945 Gulf Of Mexico Dr #M2-213Longboat KeyFL34228
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingReliable and efficiently structured, 1945 Gulf Of Mexico Dr #M2-213, Longboat Key, FL, 34228 in Longboat Key is a conservative rental investment at $649,000. Rental yield 6.27%. A 1.16 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $179,307; $5,977/yr in principal paydown supplements. Total projected return: $188,455.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.3% | 6.0% |
| Monthly Cash Flow | $(916) | $1,200 |
City averages based on Longboat Key market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,391 |
| Total Monthly Debt Service | $4,049 |
| DSCR Ratio | 0.84x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Renick PLLC • MANGROVE REALTY ASSOCIATES
Mls Name: Stellar MLS
Mls ID: #A4661329