3610 S Ocean Blvd APT 608South Palm BeachFL33480
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 3610 S Ocean Blvd APT 608, South Palm Beach, FL, 33480 in South Palm Beach: $7,181/mo in rent, $614/mo in net income, 8.71% gross yield, 1.61 DSCR, all at $989,500. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $273,381 in appreciation and $9,113/yr in principal paydown projects total cumulative return of $416,690.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 5.5% |
| Monthly Cash Flow | $614 | $200 |
City averages based on South Palm Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $7,181 |
| Total Monthly Debt Service | $6,173 |
| DSCR Ratio | 1.16x |
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 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33480, Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,178 (100%) |
| Owner Occupied HU | 5,203 (46.5%) |
| Renter Occupied HU | 952 ( 8.5%) |
| Vacant Housing Units | 5,023 (44.9%) |
| Median Home Value | $1,330,313 |
| Average Home Value | $1,415,885 |
Housing Distribution
Address Breakdown
Residential
9,067
Single Family
2,595
Multi-Family
6,472
Businesses
1,475
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 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33480, Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,178 (100%) |
| Owner Occupied HU | 5,203 (46.5%) |
| Renter Occupied HU | 952 ( 8.5%) |
| Vacant Housing Units | 5,023 (44.9%) |
| Median Home Value | $1,330,313 |
| Average Home Value | $1,415,885 |
Housing Distribution
Address Breakdown
Residential
9,067
Single Family
2,595
Multi-Family
6,472
Businesses
1,475
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ilona S Chkliarouk • Donohue Real Estate Palm Beach
Mls Name: Palm Beach BOR
Mls ID: #25-1393