287 Rainbow DrNorth Fort MyersFL33903
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 287 Rainbow Dr, North Fort Myers, FL, 33903 in North Fort Myers speaks for itself: 12.13% gross on a $180,000 price, generating $1,820/mo in rent and $625/mo in net income after the $809/mo debt service. DSCR 2.25, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $7,506 stacks alongside $49,731 in projected five-year appreciation and $1,658/yr in principal reduction. Projected total cumulative return: $108,907.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.1% | 6.0% |
| Monthly Cash Flow | $625 | $300 |
City averages based on North Fort Myers market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,820 |
| Total Monthly Debt Service | $1,123 |
| DSCR Ratio | 1.62x |
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 1995
6,141 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33903, North Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,516 (100%) |
| Owner Occupied HU | 9,855 (59.7%) |
| Renter Occupied HU | 2,839 (17.2%) |
| Vacant Housing Units | 3,822 (23.1%) |
| Median Home Value | $292,268 |
| Average Home Value | $343,390 |
Housing Distribution
Address Breakdown
Residential
13,783
Single Family
12,014
Multi-Family
1,769
Businesses
787
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 1995
6,141 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33903, North Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,516 (100%) |
| Owner Occupied HU | 9,855 (59.7%) |
| Renter Occupied HU | 2,839 (17.2%) |
| Vacant Housing Units | 3,822 (23.1%) |
| Median Home Value | $292,268 |
| Average Home Value | $343,390 |
Housing Distribution
Address Breakdown
Residential
13,783
Single Family
12,014
Multi-Family
1,769
Businesses
787
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nicole Touchette • Century 21 Selling Paradise
Mls Name: SWFLMLS
Mls ID: #225059769