216 W Cora Lee DrSouth 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 216 W Cora Lee Dr, South Padre Island, TX, 78597 priced at $785,000 pairs $6,154/mo rent with $539/mo cash flow after a $3,842/mo payment. Total monthly income equals $6,154/mo, and annual cash flow comes to $6,470/yr on $258,265 invested. Return on cash invested is 22.57% in year one, and rental yield stands at 9.41% on a $785,000 basis. Equity gained on principal adds $5,065/yr, and 5% annual appreciation accumulates to $216,881 by year five. Five-year ROI measures 118.34% and total cumulative return in cash reaches $305,618. For financing, Ziffy Mortgage’s DSCR program evaluates $6,154/mo property income against a $3,842/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1998
N/A 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: Robert N. Pinkerton III • Pinkerton Realty
Mls Name: SPIBOR
Mls ID: #103877
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.