404 Padre Blvd UNIT 1004South Padre IslandTX78597
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
Investment Highlights
Rental property for sale in South Padre Island at 404 Padre Blvd UNIT 1004, South Padre Island, TX, 78597 generates $4,382/mo in rent and, after a $2,423/mo payment, leaves $862/mo in cash flow. Total monthly income is $4,382/mo, and annual cash flow is $10,341/yr on $164,093 invested. Return on cash invested sits at 26.21% in year one, and rental yield is 10.62% on a $495,000 entry. Equity gained on principal adds $3,194/yr, while 5% annual appreciation builds toward $136,759 over five years. Five-year ROI reaches 137.83% and total cumulative return in cash sums $226,174. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,382/mo property income rather than buyer’s personal income.
Condo
Built in 1981
365.90 sqft lot
$N/A/sqft
No 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: SPIBOR
Mls ID: #104109