109 W Tarpon St #206South Padre IslandTX78597
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Tarpon St #206, South Padre Island, TX, 78597 uses $94,478 cash to close to unlock $1,551/yr annual cash flow and $129/mo monthly cash flow. Total monthly income runs $2,756/mo, and a $1,395/mo payment keeps the spread at $129/mo. Purchase price stands at $285,000, and rental yield measures 11.6% with $2,756/mo rent. Return on cash invested shows 21.55% in year one, and 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 115.65% and total cumulative return in cash records $109,266. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,756/mo property income covering a $1,395/mo payment rather than investor’s personal income.
Condo
Built in 1983
705.67 sqft lot
$N/A/sqft
$600 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Marilyn Cortez • Bordertown Realty, Llc
Mls Name: Greater McAllen AOR
Mls ID: #458193
Disclaimer: Listing information is deemed reliable, but not guaranteed.