112 E Pike St #3South 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
Rental property for sale in South Padre Island at 112 E Pike St #3, South Padre Island, TX, 78597 offers $2,080/mo rent that, after a $1,419/mo payment. Total monthly income is $2,080/mo. Return on cash invested measures 18.65% in year one, and rental yield stands at 8.61% at a $289,900 entry. Equity gained on principal adds $1,871/yr while 5% annual appreciation compounds into $80,094 by year five. Five-year ROI records 97.88% and total cumulative return in cash reaches $94,065. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,080/mo property income versus a $1,419/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2002
130.68 sqft lot
$N/A/sqft
$50 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: Ivan Camara • Dolce Vita Realty
Mls Name: SPIBOR
Mls ID: #103016
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.