3506 Cove Ln #909GalvestonTX77554
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 3506 Cove Ln #909, Galveston, TX, 77554 in Galveston achieves a 2.02 ratio at $207,000: $1,883/mo rent versus $931/mo debt service. Rental yield 10.91%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 10.91% yield compounds alongside 5% annual appreciation projecting $57,190 in value. Total projected cumulative return: $79,169.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 8.0% |
| Monthly Cash Flow | $(33) | $200 |
City averages based on Galveston market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,883 |
| Total Monthly Debt Service | $1,834 |
| DSCR Ratio | 1.03x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1983
N/A lot
$N/A/sqft
$444 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 77554, Galveston, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,066 (100%) |
| Owner Occupied HU | 2,959 (26.7%) |
| Renter Occupied HU | 1,512 (13.7%) |
| Vacant Housing Units | 6,595 (59.6%) |
| Median Home Value | $500,114 |
| Average Home Value | $542,522 |
Housing Distribution
Address Breakdown
Residential
7,075
Single Family
5,318
Multi-Family
1,757
Businesses
295
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1983
N/A lot
$N/A/sqft
$444 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 77554, Galveston, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,066 (100%) |
| Owner Occupied HU | 2,959 (26.7%) |
| Renter Occupied HU | 1,512 (13.7%) |
| Vacant Housing Units | 6,595 (59.6%) |
| Median Home Value | $500,114 |
| Average Home Value | $542,522 |
Housing Distribution
Address Breakdown
Residential
7,075
Single Family
5,318
Multi-Family
1,757
Businesses
295
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Susan Johnson • Martha Turner Sotheby's International Realty - Bay Area
Mls Name: HAR
Mls Provider:
Mls ID: #85195361
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