501 E Ocean Dr APT 26Key Colony BeachFL33051
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 501 E Ocean Dr APT 26, Key Colony Beach, FL, 33051 in Key Colony Beach: $5,809/mo in rent, $898/mo in net income, 9.42% gross yield, 1.75 DSCR, all at $740,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $204,448 in appreciation and $6,815/yr in principal paydown projects total cumulative return of $339,849.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 8.0% |
| Monthly Cash Flow | $898 | $200 |
City averages based on Key Colony Beach market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,809 |
| Total Monthly Debt Service | $4,616 |
| DSCR Ratio | 1.26x |
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 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33051, Key Colony Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,012 (100%) |
| Owner Occupied HU | 331 (32.7%) |
| Renter Occupied HU | 99 ( 9.8%) |
| Vacant Housing Units | 582 (57.5%) |
| Median Home Value | $1,077,273 |
| Average Home Value | $1,182,613 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
43
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 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33051, Key Colony Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,012 (100%) |
| Owner Occupied HU | 331 (32.7%) |
| Renter Occupied HU | 99 ( 9.8%) |
| Vacant Housing Units | 582 (57.5%) |
| Median Home Value | $1,077,273 |
| Average Home Value | $1,182,613 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
43
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Stephanie Lynn Wise • Keller Williams Key West Compass Realty
Mls Name: FLKMLS
Mls ID: #614862