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$159,900

For Sale - Active
14898 Granada Dr Unit 11, Corpus Christi, TX 78418
1 Bed
1 Bath
391 Square Feet
0.00 Acres Lot
Built in 1985
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Apr 24, 2025 at 01:44AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$12
Cap Rate
5.6%
Cash-on-Cash Return
-0.4%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Property Description


0.00 Acres Lot
Built in 1985
For Sale - Active
Units n/a

VERY strong rental unit with proven rental history. Earning statement is included in Supplemental documents. This beautifully renovated efficiency condo offers a perfect blend of modern comfort and picturesque views. This inviting space features an open layout that maximizes every square foot. Step inside to find a bright, airy living area adorned with stylish finishes and large windows. The fully equipped kitchenette boasts sleek countertops and appliances, making meal prep a breeze. The cozy sleeping nook is thoughtfully designed for restful nights, while the updated bathroom features contemporary fixtures and ample storage. Enjoy your morning coffee or unwind in the evenings on your private balcony. With direct access to the waterfront, opportunities for boating, fishing, or simply enjoying leisurely strolls along the shore. This condo is just minutes away from local shops, dining, and recreational activities. Perfect as a weekend getaway, this gem offers the ideal waterfront lifestyle. Don’t miss your chance to own this slice of paradise!

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Location


Property Details


Parking

  • Description: Assigned, Asphalt
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Foundation: Slab
  • Roof Material: Composition, Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 765200000110
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1985

Tax Information

  • Annual Tax: $2,656

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Nueces

Listing Details


Listed by:
Darryl Yarbrough
BHHS Don Johnson Realtors - CL
(830) 570-4148

Source:
Central Texas MLS (CTXMLS)
MLS#: 561585
Central Texas MLS (CTXMLS)

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$12
Cap Rate
5.6%
Cash-on-Cash Return
-0.4%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Purchase Details

Find an Agent

Purchase price:
$159,900
Amount financed:
-$127,920
Down payment:
$31,980
Closing costs:
$4,797
Rehab costs:
$0
Initial cash invested:
$36,777
Square feet:
391
Cost per square foot:
$409
Monthly rent per square foot:
$3.58

Financing Details

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Loan amount:
$127,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$757
Property tax:
$221
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,076

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$221-$2,656
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (41%)
41%-$571-$6,856

Cash Flow


Monthly Yearly
Net operating income:
$745 $8,940
Mortgage payments:
-$757 -$9,084
Cash flow:
$12 $144