658 Spanish Dr S #108Longboat KeyFL34228
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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
Rental property for sale in Longboat Key at 658 Spanish Dr S #108, Longboat Key, FL, 34228 generates $2,114/mo in rent and, after a $1,444/mo payment, leaves $156/mo in cash flow. Total monthly income is $2,114/mo, and annual cash flow is $1,875/yr on $97,793 invested. Return on cash invested sits at 21.83% in year one, and rental yield is 8.6% on a $295,000 entry. Equity gained on principal adds $1,904/yr, while 5% annual appreciation builds toward $81,503 over five years. Five-year ROI reaches 113.75% and total cumulative return in cash sums $111,242. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,114/mo property income rather than buyer’s personal income.
Condo
Built in 1967
N/A 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
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Listed by: Wendy Egan • MICHAEL SAUNDERS & COMPANY
Mls Name: Stellar MLS
Mls ID: #A4664442