111 E Harbor Dr #103South 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 Harbor Dr #103, South Padre Island, TX, 78597 offers a 7.33% rental yield on a $550,000 purchase with $3,360/mo rent. 41% in year one. Equity gained on principal adds $3,549/yr while 5% annual appreciation supports $151,955 over five years. Portfolio math shows five-year ROI at 85.24% and total cumulative return in cash at $154,234. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,360/mo property income against a $2,692/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2000
2,738 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: Jaime Gonzalez • Keller Williams Realty RGV
Mls Name: SPIBOR
Mls ID: #104532