6403 W Padre Blvd #32South 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 6403 W Padre Blvd #32, South Padre Island, TX, 78597 offers a 10.73% rental yield on a $214,750 purchase with $1,920/mo rent. Total monthly income registers $1,920/mo, and a $1,051/mo payment leaves $393/mo available for distribution. Annual cash flow reaches $4,716/yr on $71,190 to close, and return on cash invested stands at 26.53% in year one. Equity gained on principal adds $1,386/yr while 5% annual appreciation supports $59,331 over five years. Portfolio math shows five-year ROI at 139.56% and total cumulative return in cash at $99,355. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,920/mo property income against a $1,051/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1985
283.14 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: Nelda Vega • GRT Realty
Mls Name: SPIBOR
Mls ID: #104118