111 E Morningside Dr UNIT 104South 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 Morningside Dr UNIT 104, South Padre Island, TX, 78597 listed at $375,000 pairs $3,643/mo rent with a $1,835/mo payment to leave $977/mo cash flow. Total monthly income runs $3,643/mo, and annual cash flow reaches $11,721/yr on $124,313 cash to close. Return on cash invested measures 29.34% in year one, and rental yield registers 11.66% at a $375,000 basis. Equity gained on principal adds $2,420/yr, and annual property appreciation at 5% supports $103,606 by year five. Five-year ROI tracks 154.61% and total cumulative return in cash totals $192,195. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,643/mo property income relative to a $1,835/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1988
1 Acres 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: Norma Turkington • RE/MAX Elite
Mls Name: SPIBOR
Mls ID: #104250