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Short-Term Rental · Islamorada, FL

Short-Term Rental Financing in Islamorada, FL

Estimated 0.88x DSCR on a $985,000 short-term rental with $246,250 down — qualified on the property's income, not your tax returns.

Modeled Purchase Price
$985,000
25% Down
$246,250
Loan Amount
$738,750
Est. Monthly PITIA
$7,221
Creditable STR Income
$6,336/mo
Est. DSCR Ratio
0.88x

Short-Term Rental investing in Islamorada

Short-term rental financing in Islamorada is a different underwriting product than a long-term DSCR loan even though it carries the same name. The lender is crediting nightly revenue instead of a signed lease, which means the documentation, the reserve requirement, and the permit diligence all change.

At the Islamorada median of $985,000, a short-term rental prices near $985,000. Minimum down is 25% ($246,250), leaving a loan of $738,750. Estimated all-in PITIA runs about $7,221 per month.

The Islamorada ratio math on this product

Gross nightly revenue in Islamorada models to about $8,800/month across a full year. Lenders do not credit that dollar-for-dollar — a 28% haircut for vacancy, cleaning, platform fees and management leaves $6,336 of creditable income. Against a PITIA of $7,221, that is an estimated DSCR ratio of 0.88x. That lands just under 1.0. It does not kill the deal in Islamorada: moving to a larger down payment ($295,500) usually closes the gap, and several shelves fund down to 0.75x with a rate add-on.

Underwriting notes specific to STR files: plan on 25% down as the floor, six months of PITIA in reserves, and either twelve months of Airbnb/VRBO earnings statements on the subject property or a third-party market revenue study for a property with no operating history. Yes Verify the permit status of the exact address before you go hard on earnest money — an unpermitted STR is an unfinanceable STR on this product.

Returns and structure

Return metrics at the Islamorada median for this product: an estimated cap rate of 4.25%, and monthly cash flow of $885 negative at 25% down. Negative cash flow at the minimum down payment is common in appreciation-led markets; investors close the gap with a larger down payment, a purchase below median, an added unit, or a rate buydown.

Islamorada property types compared

Property TypeModeled PriceMin. DownEst. IncomeEst. DSCR
Single-Family Rental$985,00020% ($197,000)$4,400/mo0.58x
2–4 Unit Multi-Family$1,556,30025% ($389,075)$8,184/mo0.72x
Condo & Townhome$709,20020% ($141,840)$3,476/mo0.59x
Short-Term Rental (this page)$985,00025% ($246,250)$6,336/mo0.88x

All figures model a purchase at the Islamorada median of $985,000 with the property-type adjustments described above, at an illustrative 7.50% DSCR rate on a 30-year fixed. Short-term rental income is shown after the standard lender haircut.

Figures on this page are modeled estimates derived from the Islamorada median price and market rent, adjusted for short-term rental product characteristics. They are illustrative, not a loan offer or an appraisal. Actual pricing, rent, taxes, insurance, HOA dues and DSCR depend on the specific property and on conditions at the time of application.

Islamorada Short-Term Rental FAQ

More Islamorada investor resources

Islamorada investor guide
Full market analysis and loan options
Single-Family Rental in Islamorada
0.58x est. DSCR
2–4 Unit Multi-Family in Islamorada
0.72x est. DSCR
Condo & Townhome in Islamorada
0.59x est. DSCR
Monroe County investor hub
Every market we finance in the county
DSCR loan requirements in Florida
DSCR payment calculator

Price a short-term rental in Islamorada

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