Residential Income
104 E Oleander Dr. South Padre Island, TX 78597
For Sale
$625,000
MULTI_FAMILY - South Padre Island, TX
Property Size3,125 SF
Lot Size0.14 Acres
Price / SF$200
Days on Market242
Property Features for 104 E Oleander Dr.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- c
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 4
- Parking features
- Garage - Attached
- Patio and Porch features
- Patio
- Interior features
- Cabinets-Manufactured, Ceiling Fan(s), Kitchen Island, Smoke Detector, Washer/Dryer Hook-up
- Exterior features
- Balcony, Fence - Privacy, Patio - Covered, Pool, Private Yard
- Fencing
- Privacy
- Appliances
- Microwave, Refrigerator, Stove
- Standard status
- Active
- Size
- 3,125 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5975
Building Details
- Year built
- 1973
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Tile, Vinyl
- Roof type
- Composition
Listing Agency:
JSL Living
(956) 715-0869
Listed By:
Jessica Saenz-Luna · License #0696073
(956) 715-0869
Added: Nov 24, 2025
Changed: Jul 12
Last Checked: Jul 24 at 1:06AM
MLS# 104586
Copyright © 2026 South Padre Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income property is offered for sale and sits on the Gulf side of South Padre Island. The property includes a total size of 3,125 square feet and is situated on a 0.144-acre lot.
Addressed at 104 E Oleander Dr., South Padre Island, TX 78597, the property is located in Cameron County and is listed with zoning noted as “c.”
Addressed at 104 E Oleander Dr., South Padre Island, TX 78597, the property is located in Cameron County and is listed with zoning noted as “c.”
Key Highlights
- Built in 1973 with a composition roof
- Private outdoor space with a covered patio, balcony, and fenced private yard
- Includes a pool
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.1k | $14.76 |
| − Vacancy | −$3.1k | −$1.00 |
| EGI | $43.0k | $13.76 |
| − OpEx | −$19.3k | −$6.19 |
| NOI | $23.6k | $7.57 |
3,125 SF · lease $14.76/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,644 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$538.1K
$470.8K – $627.8K
NOI $37,665 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Single family properties
FAQs
What type of property is this?
Single family property - Residential income property located on the Gulf side of South Padre Island.
Where is this single family property located?
The property is located at 104 E Oleander Dr. South Padre Island, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Built in 1973 with a composition roof; Private outdoor space with a covered patio, balcony, and fenced private yard; Includes a pool
