2340 NW 24th AveMiamiFL33142
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 3.9% gross rental yield, 2340 NW 24th Ave, Miami, FL, 33142 in Miami is priced for capital growth, not immediate cash flow. The $542,612 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $149,914 by year five, with $4,998/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (1.13) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $120,832.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.9% | 5.8% |
| Monthly Cash Flow | $(3,110) | $1,850 |
City averages based on Miami market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,760 |
| Total Monthly Debt Service | $3,916 |
| DSCR Ratio | 0.70x |
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.
Multi Family
Built in 1947
7,884 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33142, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,089 (100%) |
| Owner Occupied HU | 5,879 (26.6%) |
| Renter Occupied HU | 14,179 (64.2%) |
| Vacant Housing Units | 2,031 ( 9.2%) |
| Median Home Value | $372,271 |
| Average Home Value | $458,309 |
Housing Distribution
Address Breakdown
Residential
18,741
Single Family
12,877
Multi-Family
5,864
Businesses
3,005
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
Multi Family
Built in 1947
7,884 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33142, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,089 (100%) |
| Owner Occupied HU | 5,879 (26.6%) |
| Renter Occupied HU | 14,179 (64.2%) |
| Vacant Housing Units | 2,031 ( 9.2%) |
| Median Home Value | $372,271 |
| Average Home Value | $458,309 |
Housing Distribution
Address Breakdown
Residential
18,741
Single Family
12,877
Multi-Family
5,864
Businesses
3,005
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices