227 NE 2nd St UNIT 2404MiamiFL33179
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 227 NE 2nd St UNIT 2404, Miami, FL, 33179 in Miami. Rental yield 5.23%. At $509,999 with 5.23% gross yield, current distributions are modest, but the 5% appreciation rate projects $140,903 in new equity by year five, complemented by $4,697/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.97) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $66,070.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.2% | 5.8% |
| Monthly Cash Flow | $(2,055) | $1,850 |
City averages based on Miami market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,221 |
| Total Monthly Debt Service | $4,073 |
| DSCR Ratio | 0.55x |
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 2022
N/A lot
$N/A/sqft
$730 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33179, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,897 (100%) |
| Owner Occupied HU | 11,708 (56.0%) |
| Renter Occupied HU | 7,888 (37.7%) |
| Vacant Housing Units | 1,301 ( 6.2%) |
| Median Home Value | $417,762 |
| Average Home Value | $504,468 |
Housing Distribution
Address Breakdown
Residential
19,454
Single Family
9,651
Multi-Family
9,803
Businesses
873
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 2022
N/A lot
$N/A/sqft
$730 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33179, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,897 (100%) |
| Owner Occupied HU | 11,708 (56.0%) |
| Renter Occupied HU | 7,888 (37.7%) |
| Vacant Housing Units | 1,301 ( 6.2%) |
| Median Home Value | $417,762 |
| Average Home Value | $504,468 |
Housing Distribution
Address Breakdown
Residential
19,454
Single Family
9,651
Multi-Family
9,803
Businesses
873
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Anna Lopez • Miami Waterfront Realty
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11571266
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.