118 E Carolyn Dr #BSouth 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 118 E Carolyn Dr #B, South Padre Island, TX, 78597 with 5% annual appreciation on a $1,350,000 basis while $5,359/mo rent supports operations. 73% in year one. Equity gained on principal adds $8,711/yr, and five-year appreciation sums $372,980 alongside rental yield of 4.76%. Five-year ROI measures 44.06% and total cumulative return in cash totals $192,713. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $5,359/mo property income versus a $6,608/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Townhouse
Built in 2024
3,123 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: Padre Elite Team • RE/MAX Elite
Mls Name: SPIBOR
Mls ID: #100907
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.