111 E Morningside Dr UNIT 209South 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 111 E Morningside Dr UNIT 209, South Padre Island, TX, 78597 earns $843/mo cash flow from $3,438/mo rent with a $1,786/mo payment. Total monthly income totals $3,438/mo, and annual cash flow totals $10,118/yr on $120,964 capital. ROI tracks 28.27% on current figures, and rental yield reads 11.31% at a $364,900 purchase. Equity gained on principal adds $2,355/yr, and 5% annual appreciation supports $100,815 over five years. Five-year ROI reaches 148.93% and total cumulative return in cash sums $180,156. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,438/mo property income instead of your personal income.
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: Maurine Salas • RE/MAX Elite
Mls Name: SPIBOR
Mls ID: #103899