115 E Coronado Dr UNIT 303South Padre IslandTX78597
INVESTMENT ANALYSIS
Investment Verdict
Solid Income115 E Coronado Dr UNIT 303, South Padre Island, TX, 78597 in South Padre Island carries a 1.57 coverage ratio, rent of $1,887/mo is 1.57 times the $1,201/mo payment. Rental yield 8.48%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $267,000 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $73,767; total projected cumulative return: $72,952.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.2% |
| Monthly Cash Flow | $(488) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,887 |
| Total Monthly Debt Service | $2,269 |
| DSCR Ratio | 0.83x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1982
1,393 sqft lot
$N/A/sqft
$460 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
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
Condo
Built in 1982
1,393 sqft lot
$N/A/sqft
$460 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Deldi Ortegon • KELLER WILLIAMS REALTY RIO GRANDE VALLEY
Mls Name: RGVMLS
Mls Provider:
Mls ID: #29768544
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.