2850 Gulf Of Mexico Dr APT 2Longboat KeyFL34228
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 2850 Gulf Of Mexico Dr APT 2, Longboat Key, FL, 34228 in Longboat Key worth modelling. At $449,000 with a 9.55% gross yield, the $3,575/mo rent leaves $95/mo after the $2,019/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.77 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $124,050 by year five; $4,135/yr in principal reduction adds further equity. Total projected return: $209,432.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.0% |
| Monthly Cash Flow | $95 | $1,200 |
City averages based on Longboat Key market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,575 |
| Total Monthly Debt Service | $2,801 |
| DSCR Ratio | 1.28x |
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 1967
0.55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
Nearby investment properties with comparable rents
- 3 Bed
- 3 Bath
- 1673 sft
- 3 Bed
- 3 Bath
- 1673 sft
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 1967
0.55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
Nearby investment properties with comparable rents
- 3 Bed
- 3 Bath
- 1673 sft
- 3 Bed
- 3 Bath
- 1673 sft
Nearby investment properties with comparable prices
Listed by: Bruce Myer • COLDWELL BANKER REALTY
Mls Name: Stellar MLS
Mls ID: #A4670111