2045 Gulf Of Mexico Dr #M1-502Longboat KeyFL34228
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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 Longboat Key at 2045 Gulf Of Mexico Dr #M1-502, Longboat Key, FL, 34228 offers a 7.06% rental yield on a $485,000 purchase with $2,853/mo rent. 18% in year one. Equity gained on principal adds $3,130/yr while 5% annual appreciation supports $133,997 over five years. Portfolio math shows five-year ROI at 88.8% and total cumulative return in cash at $142,778. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,853/mo property income against a $2,374/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1974
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
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Listed by: JoDene Moneuse, PA • MICHAEL SAUNDERS & COMPANY
Mls Name: Stellar MLS
Mls ID: #A4675820