305 NE 16th St #B7Fort LauderdaleFL33304
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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
Investment property for sale in Fort Lauderdale at 305 NE 16th St #B7, Fort Lauderdale, FL, 33304 uses $59,670 cash to close to unlock $2,766/yr annual cash flow and $231/mo monthly cash flow. Total monthly income runs $1,425/mo, and a $881/mo payment keeps the spread at $231/mo. Purchase price stands at $180,000, and rental yield measures 9.5% with $1,425/mo rent. Return on cash invested shows 24.54% in year one, and 5% annual appreciation builds toward $49,731 over five years. Five-year ROI reaches 128.31% and total cumulative return in cash records $76,565. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,425/mo property income covering a $881/mo payment rather than investor’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33304, Fort Lauderdale, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,109 (100%) |
| Owner Occupied HU | 5,379 (35.6%) |
| Renter Occupied HU | 6,993 (46.3%) |
| Vacant Housing Units | 2,737 (18.1%) |
| Median Home Value | $733,600 |
| Average Home Value | $905,136 |
Housing Distribution
Address Breakdown
Residential
12,657
Single Family
4,624
Multi-Family
8,033
Businesses
1,074
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Listed by: Michael Gooden • LoKation
Mls Name: BeachesMLS
Mls ID: #F10534131