2705 Michigan AveFort MyersFL33916
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
Investment Highlights
Rental property for sale in Fort Myers at 2705 Michigan Ave, Fort Myers, FL, 33916 offers $2,756/mo rent that, after a $977/mo payment, leaves $1,380/mo cash flow. Total monthly income is $2,756/mo, and annual cash flow is $16,559/yr on $66,201 cash. Return on cash invested measures 44.92% in year one, and rental yield stands at 16.56% at a $199,700 entry. Equity gained on principal adds $1,289/yr while 5% annual appreciation compounds into $55,173 by year five. Five-year ROI records 237.89% and total cumulative return in cash reaches $157,486. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,756/mo property income versus a $977/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1951
8,581 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33916, Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,222 (100%) |
| Owner Occupied HU | 4,285 (30.1%) |
| Renter Occupied HU | 7,966 (56.0%) |
| Vacant Housing Units | 1,971 (13.9%) |
| Median Home Value | $259,163 |
| Average Home Value | $313,318 |
Housing Distribution
Address Breakdown
Residential
12,260
Single Family
7,873
Multi-Family
4,387
Businesses
820
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dave Lambert • Coldwell Banker Realty
Mls Name: SWFLMLS
Mls Provider:
Mls ID: #224095330
Disclaimer: The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS. Copyright 2024 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.