253 Melrose St.Corpus ChristiTX78404
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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 Corpus Christi at 253 Melrose St, Corpus Christi, TX, 78404 offers $2,754/mo rent that, after a $1,875/mo payment, leaves $30/mo cash flow. Total monthly income is $2,754/mo, and annual cash flow is $360/yr on $126,965 cash. Return on cash invested measures 20.19% in year one, and rental yield stands at 8.63% at a $383,000 entry. Equity gained on principal adds $2,471/yr while 5% annual appreciation compounds into $105,816 by year five. Five-year ROI records 105.6% and total cumulative return in cash reaches $134,070. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,754/mo property income versus a $1,875/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1946
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 78404, Corpus Christi, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,115 (100%) |
| Owner Occupied HU | 3,273 (46.0%) |
| Renter Occupied HU | 2,754 (38.7%) |
| Vacant Housing Units | 1,088 (15.3%) |
| Median Home Value | $192,468 |
| Average Home Value | $279,396 |
Housing Distribution
Address Breakdown
Residential
6,178
Single Family
5,361
Multi-Family
817
Businesses
504
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Listed by: Dustin Cameron • Keller Williams Coastal Bend
Mls Name: South Texas MLS
Mls Provider:
Mls ID: #458242
Disclaimer: Based on information from South Texas MLS, LLC as of 2025-05-24 00:53:55 PDT. All information provided is deemed reliable but is not guaranteed and should be independently verified. South Texas MLS, LLC provides the MLS and all content therein AS IS and without any warranty, express or implied. MLS aggregate data is a copyright of Texas Association of REALTORS (TAR) and that the reader may not reproduce or distribute the MLS aggregate data.