310 Padre Blvd UNIT 2306South 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 310 Padre Blvd UNIT 2306, South Padre Island, TX, 78597 listed at $1,325,000 pairs $3,310/mo rent with a $6,485/mo payment. Total monthly income runs $3,310/mo. Return on cash invested measures -0.49% in year one, and rental yield registers 3% at a $1,325,000 basis. Equity gained on principal adds $8,550/yr, and annual property appreciation at 5% supports $366,073 by year five. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,310/mo property income relative to a $6,485/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2006
1 Acres lot
$N/A/sqft
$1,351 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: Norma Turkington • Re/Max Elite
Mls Name: Greater McAllen AOR
Mls ID: #451251
Disclaimer: Listing information is deemed reliable, but not guaranteed.