550 Ocean Dr APT 3EKey BiscayneFL33149
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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 Key Biscayne at 550 Ocean Dr APT 3E, Key Biscayne, FL, 33149 offers a 9.91% rental yield on a $775,000 purchase with $6,400/mo rent. Total monthly income registers $6,400/mo, and a $3,793/mo payment leaves $1,257/mo available for distribution. Annual cash flow reaches $15,087/yr on $254,975 to close, and return on cash invested stands at 25.98% in year one. Equity gained on principal adds $5,001/yr while 5% annual appreciation supports $214,118 over five years. Portfolio math shows five-year ROI at 135.95% and total cumulative return in cash at $346,639. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $6,400/mo property income against a $3,793/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1969
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33149, Key Biscayne, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,033 (100%) |
| Owner Occupied HU | 3,641 (51.8%) |
| Renter Occupied HU | 1,563 (22.2%) |
| Vacant Housing Units | 1,829 (26.0%) |
| Median Home Value | $1,499,584 |
| Average Home Value | $1,511,145 |
Housing Distribution
Address Breakdown
Residential
6,713
Single Family
1,486
Multi-Family
5,227
Businesses
549
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Listed by: Victor Coto • One Sotheby's International Realty
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11715551
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.