345 Ocean Dr APT 602Miami BeachFL33139
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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 Miami Beach at 345 Ocean Dr APT 602, Miami Beach, FL, 33139 uses $132,766 cash to close to unlock $4,110/yr annual cash flow and $343/mo monthly cash flow. Total monthly income runs $3,530/mo, and a $1,960/mo payment keeps the spread at $343/mo. Purchase price stands at $400,500, and rental yield measures 10.58% with $3,530/mo rent. Return on cash invested shows 23.01% in year one, and 5% annual appreciation builds toward $110,651 over five years. Five-year ROI reaches 121.78% and total cumulative return in cash records $161,681. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,530/mo property income covering a $1,960/mo payment rather than investor’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
$326 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33139, Miami Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,073 (100%) |
| Owner Occupied HU | 8,020 (26.7%) |
| Renter Occupied HU | 13,441 (44.7%) |
| Vacant Housing Units | 8,612 (28.6%) |
| Median Home Value | $757,323 |
| Average Home Value | $1,011,532 |
Housing Distribution
Address Breakdown
Residential
27,623
Single Family
3,294
Multi-Family
24,329
Businesses
2,457
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