8691 Covewood DrEsteroFL33928
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 8691 Covewood Dr, Estero, FL, 33928 in Estero speaks for itself: 25.52% gross on a $130,000 price, generating $2,765/mo in rent and $1,723/mo in net income after the $585/mo debt service. DSCR 4.73, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $20,673 stacks alongside $35,917 in projected five-year appreciation and $1,197/yr in principal reduction. Projected total cumulative return: $161,225.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 25.5% | 6.0% |
| Monthly Cash Flow | $1,723 | $1,500 |
City averages based on Estero market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,765 |
| Total Monthly Debt Service | $990 |
| DSCR Ratio | 2.79x |
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 2008
2,090 sqft lot
$N/A/sqft
$433 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33928, Estero, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,934 (100%) |
| Owner Occupied HU | 14,388 (60.1%) |
| Renter Occupied HU | 2,975 (12.4%) |
| Vacant Housing Units | 6,571 (27.5%) |
| Median Home Value | $532,870 |
| Average Home Value | $596,176 |
Housing Distribution
Address Breakdown
Residential
20,339
Single Family
15,619
Multi-Family
4,720
Businesses
780
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 2008
2,090 sqft lot
$N/A/sqft
$433 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33928, Estero, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,934 (100%) |
| Owner Occupied HU | 14,388 (60.1%) |
| Renter Occupied HU | 2,975 (12.4%) |
| Vacant Housing Units | 6,571 (27.5%) |
| Median Home Value | $532,870 |
| Average Home Value | $596,176 |
Housing Distribution
Address Breakdown
Residential
20,339
Single Family
15,619
Multi-Family
4,720
Businesses
780
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kim Carpenter • HomeSmart
Mls Name: Florida Gulf Coast MLS
Mls Provider:
Mls ID: #224050260
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.