310A Padre Blvd APT 404South 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 310A Padre Blvd APT 404, South Padre Island, TX, 78597 generates $6,511/mo in rent, after a $4,038/mo payment. Total monthly income is $6,511/mo. Return on cash invested sits at 16.93% in year one, and rental yield is 9.47% on a $825,000 entry. Equity gained on principal adds $5,324/yr, while 5% annual appreciation builds toward $227,932 over five years. Five-year ROI reaches 90.24% and total cumulative return in cash sums $244,929. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,511/mo property income rather than buyer’s personal income.
Condo
Built in 2006
1,507 sqft lot
$N/A/sqft
$1,352 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: Rosa M. Hands • Blue Ocean Realty Group
Mls Name: SPIBOR
Mls ID: #101062
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.