623 Simonton St #9Key WestFL33040
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 623 Simonton St #9, Key West, FL, 33040 in Key West worth study. Rental yield 4.84%. The 4.84% gross yield is below cash-flow benchmarks at $1,996,230, but 5% annual appreciation, adding $551,522 over five years, frames this as a capital growth position. Rent of $8,053/mo partially offsets the $8,976/mo payment. Ziffy Mortgage finances appreciation-play properties (0.90 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $420,610.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.8% | 6.2% |
| Monthly Cash Flow | $(5,294) | $1,500 |
City averages based on Key West market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $8,053 |
| Total Monthly Debt Service | $12,553 |
| DSCR Ratio | 0.64x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1997
2,178 sqft lot
$N/A/sqft
$1,200 yearly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33040, Key West, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,243 (100%) |
| Owner Occupied HU | 7,981 (41.5%) |
| Renter Occupied HU | 7,648 (39.7%) |
| Vacant Housing Units | 3,614 (18.8%) |
| Median Home Value | $838,960 |
| Average Home Value | $964,799 |
Housing Distribution
Address Breakdown
Residential
16,035
Single Family
13,799
Multi-Family
2,236
Businesses
1,840
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 1997
2,178 sqft lot
$N/A/sqft
$1,200 yearly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33040, Key West, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,243 (100%) |
| Owner Occupied HU | 7,981 (41.5%) |
| Renter Occupied HU | 7,648 (39.7%) |
| Vacant Housing Units | 3,614 (18.8%) |
| Median Home Value | $838,960 |
| Average Home Value | $964,799 |
Housing Distribution
Address Breakdown
Residential
16,035
Single Family
13,799
Multi-Family
2,236
Businesses
1,840
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices