2583 1st St UNIT 1002Fort MyersFL33901
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 2583 1st St UNIT 1002, Fort Myers, FL, 33901 in Fort Myers. Rental yield 1.56%. At $1,331,000 with 1.56% gross yield, current distributions are modest, but the 5% appreciation rate projects $367,731 in new equity by year five, complemented by $12,259/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.29) allows non-U.S. residents to acquire without W-2s or domestic credit.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.6% | 6.8% |
| Monthly Cash Flow | $(8,297) | $1,850 |
City averages based on Fort Myers market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,726 |
| Total Monthly Debt Service | $9,493 |
| DSCR Ratio | 0.18x |
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 2026
N/A lot
$N/A/sqft
$14,280 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33901, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,959 (100%) |
| Owner Occupied HU | 4,640 (35.8%) |
| Renter Occupied HU | 6,722 (51.9%) |
| Vacant Housing Units | 1,597 (12.3%) |
| Median Home Value | $398,174 |
| Average Home Value | $484,963 |
Housing Distribution
Address Breakdown
Residential
11,138
Single Family
6,857
Multi-Family
4,281
Businesses
1,822
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 2026
N/A lot
$N/A/sqft
$14,280 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33901, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,959 (100%) |
| Owner Occupied HU | 4,640 (35.8%) |
| Renter Occupied HU | 6,722 (51.9%) |
| Vacant Housing Units | 1,597 (12.3%) |
| Median Home Value | $398,174 |
| Average Home Value | $484,963 |
Housing Distribution
Address Breakdown
Residential
11,138
Single Family
6,857
Multi-Family
4,281
Businesses
1,822
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Megan Chionis • Serhant
Mls Name: SWFLMLS
Mls Provider:
Mls ID: #224095639
Disclaimer: The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS. Copyright 2025 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.