229 Carmel Dr UNIT 9Fort Walton BeachFL32547
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 229 Carmel Dr UNIT 9, Fort Walton Beach, FL, 32547 in Fort Walton Beach. At $199,000 it earns $1,565/mo in rent and distributes $244/mo to the owner after the $895/mo payment, a consistent 9.44% yield. DSCR 1.75 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $54,980 in value; $1,833/yr in principal paydown compounds ownership stake. Total projected return: $91,590.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.5% |
| Monthly Cash Flow | $244 | $300 |
City averages based on Fort Walton Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,565 |
| Total Monthly Debt Service | $1,241 |
| DSCR Ratio | 1.26x |
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.
Townhouse
Built in 1982
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32547, Fort Walton Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,603 (100%) |
| Owner Occupied HU | 8,251 (49.7%) |
| Renter Occupied HU | 7,177 (43.2%) |
| Vacant Housing Units | 1,175 ( 7.1%) |
| Median Home Value | $369,479 |
| Average Home Value | $461,888 |
Housing Distribution
Address Breakdown
Residential
15,950
Single Family
14,806
Multi-Family
1,144
Businesses
1,072
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
Townhouse
Built in 1982
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32547, Fort Walton Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,603 (100%) |
| Owner Occupied HU | 8,251 (49.7%) |
| Renter Occupied HU | 7,177 (43.2%) |
| Vacant Housing Units | 1,175 ( 7.1%) |
| Median Home Value | $369,479 |
| Average Home Value | $461,888 |
Housing Distribution
Address Breakdown
Residential
15,950
Single Family
14,806
Multi-Family
1,144
Businesses
1,072
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sarah Abbott • Coldwell Banker Realty
Mls Name: PAR
Mls ID: #671590