Buying Investment Property How to Find Multi Family Homes for Sale in Florida by Sylvia Shalhout May 2, 2020April 29, 2020 by Sylvia Shalhout May 2, 2020April 29, 2020 As part of our US housing market predictions for 2020, Mashvisor put together a list of the best multi family markets. What we noticed when looking at the real estate market data was that many of the best cities to invest in multi family homes could be found in the Florida housing market. So we thought it important to show you how you can quickly and easily find top-performing multi family homes for sale in Florida. We will start by providing you with a complete list of the 10 best cities in Florida for buying multi family homes based on cap rates. These are the cities where future Florida real estate investors should start their search for multi family homes for sale (2-4 units). 10 Best Places for Buying Multi Family Homes in the Florida Real Estate Market #1. Marco Island Median Property Price: $682,029 Price to Rent Ratio: 11 Traditional Rental Income: $5,128 Multi Family Cap Rate: 5.4% #2. Naples Median Property Price: $386,698 Price to Rent Ratio: 11 Traditional Rental Income: $2,993 Multi Family Cap Rate: 5.1% #3. Fort Myers Median Property Price: $201,053 Price to Rent Ratio: 14 Traditional Rental Income: $1,230 Multi Family Cap Rate: 2.4% According to Mashvisor’s data, you will likely find the most affordable multi family homes for sale in Florida in the Fort Myers real estate market. Start your search now. Related: How to Buy a Multi Family Property with No Money #4. Jacksonville Median Property Price: $215,352 Price to Rent Ratio: 16 Traditional Rental Income: $1,138 Multi Family Cap Rate: 2.0% #5. Melbourne Median Property Price: $325,713 Price to Rent Ratio: 17 Traditional Rental Income: $1,570 Multi Family Cap Rate: 2.0% #6. Orlando Median Property Price: $407,000 Price to Rent Ratio: 21 Traditional Rental Income: $1,619 Multi Family Cap Rate: 2.0% Check out the full Orlando real estate market report. #7. Tampa Median Property Price: $348,042 Price to Rent Ratio: 22 Traditional Rental Income: $1,308 Multi Family Cap Rate: 1.8% Check out the full Tampa real estate market report. #8. Miami Median Property Price: $538,317 Price to Rent Ratio: 21 Traditional Rental Income: $2,192 Multi Family Cap Rate: 1.3% Check out the full Miami real estate market report. #9. West Palm Beach Median Property Price: $421,261 Price to Rent Ratio: 22 Traditional Rental Income: $1,581 Multi Family Cap Rate: 1.2% #10. Clearwater Median Property Price: $296,593 Price to Rent Ratio: 21 Traditional Rental Income: $1,166 Multi Family Cap Rate: 1.1% Find a Profitable Multi Family Property Not sure where to start your search for multi family homes for sale in Florida? We put together a comprehensive guide that will help you choose the best city to invest in real estate: How to Choose a Real Estate Market to Invest In. Related: The 10 Best Places to Invest in Real Estate in Florida in 2020 How to Find the Best Multi Family Homes for Sale in Florida Once you’ve selected a city in the Florida real estate market, it’s time to start searching for multi family properties. Now, if you’re not a resident of Florida and instead buying a rental property out of state, the best way to find Florida multi family homes for sale is online. While there are a few different real estate investor websites where you can start your multi family property search, the quickest and easiest way is to use Mashvisor’s investment property search tools. Here are the steps to follow to find high return multi family homes for sale in Florida using Mashvisor: Step #1: Find the Best Neighborhoods for Investing in Florida Real Estate Let’s say that you’ve completed your real estate market analysis on the above 10 cities and found that the Jacksonville real estate market is the best place for investing in multi family homes: You’ve found that the median listing price fits your budget. The average cap rate makes for a good return on investment. The price to rent ratio is also higher than 15 which means most residents will find it more affordable to live in rental properties rather than buy their own homes. Related: How to Research Real Estate Markets: The Beginner’s Guide Whatever city you choose, whether it’s in the North or South Florida real estate market, you need to conduct a neighborhood analysis on it. For this step, it’s best to use Mashvisor’s Real Estate Heatmap Analysis Tool. This real estate investment software solution allows you to conduct a neighborhood analysis based on the following metrics: Listing Price Airbnb Cash on Cash Return Traditional Cash on Cash Return Airbnb Rental Income Traditional Rental Income Airbnb Occupancy Rate When buying a property in Florida, you should be focused on your return on investment. Which neighborhoods will give you the highest return? To get the answer in seconds, select the Traditional Cash on Cash Return filter. All the Jacksonville neighborhoods that turn green will offer good cash on cash return. Take a look: Mashvisor – Neighborhood Analysis of the Jacksonville Real Estate Market If you want to ensure that you’re only evaluating neighborhoods with multi family homes for sale, then you’ll need to sign up for an Expert Plan with Mashvisor. This will give you access to the multi family filter: Mashvisor – Multi Family Homes for Sale Filter This filter will help you conduct a neighborhood analysis of areas that currently have multi family homes for sale, including fourplexes, triplexes, and duplexes for sale. Using this tool and the appropriate filters, you’ll easily find profitable and affordable multi family homes for sale in Florida. Try it out now for yourself by signing up for Mashvisor today. Step #2: Conduct a Multi Family Real Estate Investment Analysis Depending on the neighborhood your analysis deems as the best, you may be looking at a few Florida investment properties for sale or over a dozen. It’s time to narrow them down to one and find the best multi family home for sale in Florida. This requires that you conduct a thorough multi family real estate investment analysis. Now, if you only have two or three potential Florida rental properties, it might make sense to use investment analysis spreadsheets. But even then, things could get complicated as you’ll want to gather data on the following in order to complete a full property analysis: Rental Income Rental Property Expenses Occupancy Rate Cash Flow Cap Rate Cash on Cash Return So it’s best to use an online calculator when analyzing multi family homes for sale in Florida. Mashvisor’s Multi Family Investment Calculator is the tool for the job. Here’s a quick look at what this real estate investment tool will provide you for every multi family listing on the platform: Mashvisor’s Multi Family Investment Calculator You’ll also get property data such as rental comps, real estate sales comps, tax history, investment payback balance, and more. You can even add your own listing for a multi family home in Florida and get the available data needed for a full investment property analysis. Using this tool will ensure you find one of the best multi family homes for sale in Florida – a property that you can afford that will bring a high return on investment. How Can You Find Off Market Multi Family Homes for Sale in Florida? A lot of real estate investors looking for multi family homes for sale in Florida are actually interested in finding off market properties. If this is more up your alley, you should visit the Mashvisor Property Marketplace. Here, you can find off market multi family for sale including: Short Sales Bank Owned Homes Multi Family Foreclosures Auction Homes What’s more, you can analyze off market properties for sale easily using the multi family investment calculator. Start Your Search for a Florida Real Estate Investment Today Ready to invest in Florida real estate? Use Mashvisor to find the top-performing Florida income properties for sale now. Sign up for a 7-Day Free trial. Start Your Investment Property Search! START FREE TRIAL FloridaHeatmapInvestment CalculatorJacksonville FLMulti FamilyOff Market Properties 0 FacebookTwitterGoogle +PinterestLinkedin Sylvia Shalhout Sylvia was the Content Marketing Manager at Mashvisor. As a real estate writer, she has been covering topics for the beginner and advanced real estate investor, helping them make smarter decisions as well as real estate agents looking to take their business to the next level. Previous Post Tips for Rental Property Maintenance During the Coronavirus Next Post 3 Tools for Long Distance Real Estate Investing Related Posts Do You Need to Find a Real Estate Agent to Buy Investment Property? 8 Reliable Ways for Finding Investment Properties How to Find a Good Deal on Real Estate for Sale in a Hot Market Kansas City Real Estate Market 2018: Invest Now! 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