227 W Morningside Dr #D204South 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 227 W Morningside Dr #D204, South Padre Island, TX, 78597 generates $4,038/mo in rent, after a $3,035/mo payment. Total monthly income is $4,038/mo. Return on cash invested sits at 14.66% in year one, and rental yield is 7.82% on a $620,000 entry. Equity gained on principal adds $4,001/yr, while 5% annual appreciation builds toward $171,295 over five years. Five-year ROI reaches 77.07% and total cumulative return in cash sums $157,203. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,038/mo property income rather than buyer’s personal income.
Condo
Built in 1977
3,345 sqft lot
$N/A/sqft
$546 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: Cynthia Lozano • Realty One Group Right Choice
Mls Name: Greater McAllen AOR
Mls ID: #459001
Disclaimer: Listing information is deemed reliable, but not guaranteed.