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$299,000
101 CORA LEE DR. Lot # 3, SOUTH PADRE ISLAND, TX, 78597
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About this property
INVESTOR ALERT, Imagine owning a beautiful interior beachside LOT just a short walk from the sparkling shores of South Padre Island! Whether you're dreaming of a coastal retreat or exploring your next investment. Your opportunity to explore building an island retreat or income-producing property STARTS HERE! PROPERTY HIGHLIGHTS *6,250 SQ. FT. LOT (50' 125') * MULTIFAMILY ZONING (NT) — Duplex or four-plex development. * UP TO 3 STORIES permitted, subject to applicable building requirements. * INTERIOR BEACHSIDE LOCATION with convenient beach access. * SURVEY INCLUDED * Multifamily zoning confirmed by the Town of South Padre Island City Planning and Zoning Department.
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$0Estimated Mortgage Balance
$299,000Estimated Equity
100% equity
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Estimated ARV (After-Repair Value)
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Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,794 /month
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Cash Flow Estimate:
$598 /month
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Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$X/month
No HOA
5.947%
12.4%