Great Investment Potential at Cinnamon Shore
The first, New Urban neighborhood on the Texas Coast, established in 2007, has become the standard for coastal, luxury development in the Lone Star State. And 2020’s performance at Cinnamon Shore, located in Port Aransas, Texas, shows why.
With a 54% increase in total vacation bookings and a 75% increase rental revenue in 2020 over 20219, it’s apparent that word has spread about Cinnamon Shore. Furthermore, Cinnamon Shore North and its expansion, Cinnamon Shore South, together added almost 120 new homeowning families to the neighborhood, primarily from Houston, Austin, San Antonio, and Dallas-Ft. Worth—all driving distance.
“While 2020 was an anomaly, due to flexible work and school schedules during the pandemic, Texas vacationers and homebuyers were clearly attracted to Cinnamon Shore in record numbers, and we expect more of the same for 2021,” says Jeff Lamkin, developer of Cinnamon Shore. “We’re offering a quality, master-planned resort community that, until recently, was only available in far-away Florida.”
With 136 total properties sold in 2020 and an 85% increase in total sales volume closed in 2020 over 2019, Cinnamon Shore Realty also had its best annual results. “People recognize the investment opportunity,” says Jodi Peters, managing broker at Cinnamon Shore Realty. “They’re investing in real estate, but also in their family legacy.”
Great Potential for Rental Income
Homeowners at Cinnamon Shore often join the Vacation Rental pool, and they’re seeing typical rental income potential that ranges between $50,000 and 300,000 annually, depending on property type and location. “The numbers tell the story, and they can be a real incentive,” Lamkin says.
For instance, in 2020, a three-bedroom beach home at Cinnamon Shore generated an average rental revenue of $82,000, with the top producer garnering $119,000 in rental income. A three-bedroom condo earned an average $78,000 in rental revenue. Several, upscale beach homes generated $200,000-plus in rental revenue, with the top producer exceeding $300,000. And these figures include owner usage.
With on-site property management and an active Community Owners Association, guests and homeowners enjoy amenities such as resort-style pools, a fitness center, family-friendly activities, and holiday events. Whether relaxing under signature, coral-and-white umbrellas or warming by beach bonfires, vacationers find the resort alluring year-round.
The Need for Growth
With the original community fully built, Cinnamon Shore South broke ground in 2018, and it’s grown quickly, with the most recent phase selling out in almost three days last fall. With only a handful of home sites currently available at ‘South,’ a new phase will open in May.
The developer also has announced new acquisitions on the bay side of Mustang Island, along with a new Gulf-side tract—both set to be developed over the next decade and beyond. “We’ll take our time and do it right,” Lamkin says, noting that the bay site has deep-water access and the potential for new amenities.
Selected as the location for show homes by magazines such as Southern Living and Coastal Living and chosen by Port Aransas as the partner and as the location for the city’s new hotel and conference center, Cinnamon Shore has already made its mark on the Texas Coast. It’s set to continue raising the standard.
Published by Jennifer Smith
Thursday, January 28, 2021