1000 Padre Island Blvd S #210South Padre IslandTX78597
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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
Investment property for sale in South Padre Island at 1000 Padre Island Blvd S #210, South Padre Island, TX, 78597 offers a 7.08% rental yield on a $468,000 purchase with $2,760/mo rent. 47% in year one. Equity gained on principal adds $3,020/yr while 5% annual appreciation supports $129,300 over five years. Portfolio math shows five-year ROI at 45.25% and total cumulative return in cash at $70,205. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,760/mo property income against a $2,291/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1984
749.23 sqft lot
$N/A/sqft
$911 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 78597, South Padre Island, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,367 (100%) |
| Owner Occupied HU | 745 (13.9%) |
| Renter Occupied HU | 415 ( 7.7%) |
| Vacant Housing Units | 4,207 (78.4%) |
| Median Home Value | $453,713 |
| Average Home Value | $480,027 |
Housing Distribution
Address Breakdown
Residential
589
Single Family
374
Multi-Family
215
Businesses
443
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Listed by: Vikki R. Wright • Realty One Group Right Choice
Mls Name: Greater McAllen AOR
Mls ID: #459646
Disclaimer: Listing information is deemed reliable, but not guaranteed.