109 E Parade Dr ESouth 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
Rental property for sale in South Padre Island at 109 E Parade Dr E, South Padre Island, TX, 78597 priced at $500,000 converts $4,098/mo rent into $83/mo cash flow after a $2,447/mo obligation. Total monthly income equals $4,098/mo, and annual cash flow totals $992/yr on $165,750 invested. Return on cash invested prints 20.51% in year one, and rental yield reads 9.84% against a $500,000 entry. Equity gained on principal adds $3,226/yr, while 5% annual appreciation compiles into $138,141 by year five. Five-year ROI reaches 108.47% and total cumulative return in cash sums $179,792. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,098/mo property income covering a $2,447/mo payment, not borrower’s personal income.
Condo
Built in 2023
N/A lot
$N/A/sqft
$460 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: Louann Osment • Keller Williams Realty RGV
Mls Name: SPIBOR
Mls ID: #97716
Disclaimer: Information provided by South Padre Island BOR is deemed reliable but not guaranteed. South Padre Island BOR data is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.