2638 Gately Drive E #16West Palm BeachFL33415
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 2638 Gately Drive E #16, West Palm Beach, FL, 33415 in West Palm Beach at $200,000 earns $1,367/mo in rent and nets $40/mo after the $899/mo payment, a 8.2% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $55,256 over five years. Ziffy Mortgage underwrites this on a 1.52 DSCR without U.S. credit history. With $1,842/yr in principal paydown, total projected return reaches $78,827.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 7.0% |
| Monthly Cash Flow | $40 | $1,200 |
City averages based on West Palm Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,367 |
| Total Monthly Debt Service | $1,248 |
| DSCR Ratio | 1.10x |
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.
Condo
Built in 1981
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33415, West Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,027 (100%) |
| Owner Occupied HU | 11,193 (55.9%) |
| Renter Occupied HU | 7,425 (37.1%) |
| Vacant Housing Units | 1,409 ( 7.0%) |
| Median Home Value | $295,757 |
| Average Home Value | $389,449 |
Housing Distribution
Address Breakdown
Residential
18,999
Single Family
11,552
Multi-Family
7,447
Businesses
728
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 1981
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33415, West Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,027 (100%) |
| Owner Occupied HU | 11,193 (55.9%) |
| Renter Occupied HU | 7,425 (37.1%) |
| Vacant Housing Units | 1,409 ( 7.0%) |
| Median Home Value | $295,757 |
| Average Home Value | $389,449 |
Housing Distribution
Address Breakdown
Residential
18,999
Single Family
11,552
Multi-Family
7,447
Businesses
728
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brianna Gellenbeck • Lamar Properties Inc
Mls Name: BeachesMLS
Mls ID: #RX-11116880