109 W Morningside DrSouth 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 109 W Morningside Dr, South Padre Island, TX, 78597 uses $296,067 cash to close to unlock $23,667/yr annual cash flow and $1,972/mo monthly cash flow. Total monthly income runs $8,372/mo, and a $4,405/mo payment keeps the spread at $1,972/mo. Purchase price stands at $899,900, and rental yield measures 11.16% with $8,372/mo rent. Return on cash invested shows 28.05% in year one, and 5% annual appreciation builds toward $248,626 over five years. Five-year ROI reaches 147.71% and total cumulative return in cash records $437,320. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $8,372/mo property income covering a $4,405/mo payment rather than investor’s personal income.
Single Family
Built in 2000
3,123 sqft lot
$N/A/sqft
No 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: Brilee Hughes • RE/MAX Elite
Mls Name: SPIBOR
Mls ID: #104188