3506 Cove Ln UNIT 911GalvestonTX77554
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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 Galveston at 3506 Cove Ln UNIT 911, Galveston, TX, 77554 uses $65,969 cash to close to unlock $299/yr annual cash flow and $25/mo monthly cash flow. Total monthly income runs $1,883/mo, and a $974/mo payment keeps the spread at $25/mo. Purchase price stands at $199,000, and rental yield measures 11.35% with $1,883/mo rent. Return on cash invested shows 20.36% in year one, and 5% annual appreciation builds toward $54,980 over five years. Five-year ROI reaches 109.41% and total cumulative return in cash records $72,174. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,883/mo property income covering a $974/mo payment rather than investor’s personal income.
Condo
Built in 1983
732 sqft lot
$N/A/sqft
$443 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
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Listed by: Marie Janke • Janke & Co Properties
Mls Name: HAR
Mls Provider:
Mls ID: #11788683
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