246 Tangerine DrFort MyersFL33905
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 246 Tangerine Dr, Fort Myers, FL, 33905 in Fort Myers at $114,500 earns $878/mo in rent and nets $118/mo after the $515/mo payment, a 9.2% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $31,634 over five years. Ziffy Mortgage underwrites this on a 1.70 DSCR without U.S. credit history. With $1,055/yr in principal paydown, total projected return reaches $51,267.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 6.8% |
| Monthly Cash Flow | $118 | $1,850 |
City averages based on Fort Myers market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $878 |
| Total Monthly Debt Service | $714 |
| DSCR Ratio | 1.23x |
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.
Manufactured
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33905, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,700 (100%) |
| Owner Occupied HU | 11,821 (57.1%) |
| Renter Occupied HU | 5,669 (27.4%) |
| Vacant Housing Units | 3,210 (15.5%) |
| Median Home Value | $385,883 |
| Average Home Value | $455,350 |
Housing Distribution
Address Breakdown
Residential
17,531
Single Family
15,853
Multi-Family
1,678
Businesses
815
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
Manufactured
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33905, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,700 (100%) |
| Owner Occupied HU | 11,821 (57.1%) |
| Renter Occupied HU | 5,669 (27.4%) |
| Vacant Housing Units | 3,210 (15.5%) |
| Median Home Value | $385,883 |
| Average Home Value | $455,350 |
Housing Distribution
Address Breakdown
Residential
17,531
Single Family
15,853
Multi-Family
1,678
Businesses
815
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bill Naylor • Sunset Home Sales
Mls Name: My State MLS
Mls ID: #11392404