129 E Cora Lee Dr #203South 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 129 E Cora Lee Dr #203, South Padre Island, TX, 78597 listed at $350,000 pairs $2,622/mo rent with a $1,713/mo payment to leave $133/mo cash flow. Total monthly income runs $2,622/mo, and annual cash flow reaches $1,598/yr on $116,025 cash to close. Return on cash invested measures 21.29% in year one, and rental yield registers 8.99% at a $350,000 basis. Equity gained on principal adds $2,258/yr, and annual property appreciation at 5% supports $96,699 by year five. Five-year ROI tracks 111.47% and total cumulative return in cash totals $129,338. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,622/mo property income relative to a $1,713/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2006
1,032 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: Misael Blanco • Exp Realty Llc
Mls Name: Greater McAllen AOR
Mls ID: #480889