255 W 24th St APT 234Miami BeachFL33140
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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
Rental property for sale in Miami Beach at 255 W 24th St APT 234, Miami Beach, FL, 33140 generates $1,898/mo in rent and, after a $954/mo payment, leaves $604/mo in cash flow. Total monthly income is $1,898/mo, and annual cash flow is $7,252/yr on $64,643 invested. Return on cash invested sits at 31.13% in year one, and rental yield is 11.68% on a $195,000 entry. Equity gained on principal adds $1,258/yr, while 5% annual appreciation builds toward $53,875 over five years. Five-year ROI reaches 163.62% and total cumulative return in cash sums $105,766. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,898/mo property income rather than buyer’s personal income.
Condo
Built in 1941
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33140, Miami Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,183 (100%) |
| Owner Occupied HU | 5,771 (33.6%) |
| Renter Occupied HU | 3,645 (21.2%) |
| Vacant Housing Units | 7,767 (45.2%) |
| Median Home Value | $985,285 |
| Average Home Value | $1,189,094 |
Housing Distribution
Address Breakdown
Residential
13,770
Single Family
2,707
Multi-Family
11,063
Businesses
828
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Listed by: Gregory Lefortier • Sterling Equity Realty LLC
Mls Name: MIAMI
Mls ID: #A11937897