111 E Gardenia St #301South 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 111 E Gardenia St #301, South Padre Island, TX, 78597 uses $69,284 cash to close to unlock $3,441/yr annual cash flow and $287/mo monthly cash flow. Total monthly income runs $1,973/mo, and a $1,023/mo payment keeps the spread at $287/mo. Purchase price stands at $209,000, and rental yield measures 11.33% with $1,973/mo rent. Return on cash invested shows 24.87% in year one, and 5% annual appreciation builds toward $57,743 over five years. Five-year ROI reaches 131.96% and total cumulative return in cash records $91,430. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,973/mo property income covering a $1,023/mo payment rather than investor’s personal income.
Condo
Built in 1984
N/A lot
$N/A/sqft
$200 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: Padre Elite Team • RE/MAX Elite
Mls Name: SPIBOR
Mls ID: #102991
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.