620 Spanish Dr NLongboat KeyFL34228
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 620 Spanish Dr N, Longboat Key, FL, 34228 in Longboat Key at $395,000 earns $2,788/mo in rent and nets $167/mo after the $1,776/mo payment, a 8.47% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $109,131 over five years. Ziffy Mortgage underwrites this on a 1.57 DSCR without U.S. credit history. With $3,638/yr in principal paydown, total projected return reaches $161,340.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.0% |
| Monthly Cash Flow | $167 | $1,200 |
City averages based on Longboat Key market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,788 |
| Total Monthly Debt Service | $2,464 |
| DSCR Ratio | 1.13x |
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.
Single Family
Built in 1967
25.24 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
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
Single Family
Built in 1967
25.24 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 34228, Longboat Key, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,771 (100%) |
| Owner Occupied HU | 3,972 (40.7%) |
| Renter Occupied HU | 313 ( 3.2%) |
| Vacant Housing Units | 5,486 (56.1%) |
| Median Home Value | $1,019,900 |
| Average Home Value | $1,229,149 |
Housing Distribution
Address Breakdown
Residential
8,135
Single Family
2,822
Multi-Family
5,313
Businesses
342
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Adrienne Scott • MICHAEL SAUNDERS & COMPANY
Mls Name: Stellar MLS
Mls ID: #A4669264