2797 1st St APT 1506Fort MyersFL33916
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingReliable and efficiently structured, 2797 1st St APT 1506, Fort Myers, FL, 33916 in Fort Myers is a conservative rental investment at $742,600. Rental yield 6.94%. A 1.38 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $205,167; $6,839/yr in principal paydown supplements. Total projected return: $209,302.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.9% | 6.8% |
| Monthly Cash Flow | $(2,150) | $1,850 |
City averages based on Fort Myers market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,595 |
| Total Monthly Debt Service | $5,505 |
| DSCR Ratio | 0.83x |
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 2004
0.31 Acres lot
$N/A/sqft
$781 monthly 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
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 2004
0.31 Acres lot
$N/A/sqft
$781 monthly 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: N/A • N/A
Mls Name: undefined
Mls ID: #N/A