130 Padre Blvd #612 · South Padre Island, TX 78597

$305,000

2 bd · 2.0 ba · 1,043 sqft · Condo · 23 Days on market

Built 1984 Good condition $292/sqft · 23% below area Est $395k · 23% under $620/mo HOA · 20% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +8.5/30.0
• 1% rule +5.2/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• DSCR +2.3/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Top-floor coastal retreat offering more space than many comparable condos in the area — and competitively priced. Located just a short walk from the beach, this beautifully furnished 2-bedroom, 2-bath condo combines comfort, functionality, and island living in one attractive package. Enjoy abundant natural light, ocean breezes, and an open-concept living and dining area that flows seamlessly into the fully equipped kitchen — perfect for entertaining or relaxing after a day by the water. Both bedrooms are generously sized with ample closet space, while the primary suite features a private bath. Step onto your private balcony and enjoy the relaxed coastal atmosphere from this quiet, well-maintained community. Features include in-unit stackable washer/dryer, new roof installed in 2025, tennis and pickleball courts, and move-in ready furnishings. Excellent opportunity for a vacation getaway, or investment property on South Padre Island.

Key facts

• Private balcony
• New roof installed
• $620 HOA

Tags

• TOP-FLOOR COASTAL RETREAT
• SHORT WALK FROM THE BEACH
• FULLY EQUIPPED KITCHEN
• PRIVATE BALCONY
• IN-UNIT STACKABLE WASHER DRYER
• NEW ROOF INSTALLED

Property features AI

Finance

• Other: Paved road access; Sidewalks in the community
• HOA & community: Mandatory association: Gulfview Homeowner Association; Monthly association fee of $620; POA transfer fee applies

Exterior

• Parking: No garage or carport; No covered or assigned parking spaces
• Utilities: Public water; City sewer
• Home design: Condominium (Gulfview II); Not new construction; Flat or other roof
• Construction: Slab foundation; No construction material specified
• Exterior features: Balcony; BBQ pit / grill; On-site exercise room; Covered patio; Gulfside waterfront

Interior

• Kitchen: Refrigerator; Electric smooth top range
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Laminate countertops; Ceiling fan(s); Drapes
• Laundry & utility: Electric water heater; Water heater located in utility area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $305k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (15.8% below list).
• Meets the 1% rule at list price ($3k rent vs $305k).
• Recommended offer: $257k (15.8% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 1.8% in South Padre Island — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#1,077 in TX) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: amenities C-, crime F, commute F.
• Point Isabel ISD (town): math 14% / reading 31% proficiency, ranked #756 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Port Isabel J H (math 10% / reading 29%, grade F, #1,445 of 1,662 statewide, top 88%, 425 students, 84% FRL); Port Isabel H S (math 17% / reading 42%, grade F, #1,112 of 1,632 statewide, top 70%, 606 students, 82% FRL) — zoned schools average 83% FRL vs 35% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 522 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• At $3,115/mo this rent would consume 55% of the median local household income ($68k/yr) (locally 96% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,712 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 5.24%
• Cash-on-cash: -3.76%
• DSCR: 0.83
• GRM: 8.2

CMA / ARV

• ARV (median comp): $395,393
• List price: $305,000
• Delta: -22.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.18×
• Total profit: $-70,208
• Equity at exit: $45,476

10-year hold

• IRR: -18.7%
• Equity multiple: -0.01×
• Total profit: $-86,600
• Equity at exit: $26,371

Cash invested: $85,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 78597

• Home prices YoY: -13.5%
• Active inventory: 522
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,115 medium
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$620
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $-334

Break-even live

Break-even rent $3,537

Max offer price $256,712

Occupancy floor —

Sensitivity live

Price	-10% $-123	-5% $-228	+0% $-334	+5% $-439	+10% $-544
Rent	-10% $-580	-5% $-457	+0% $-334	+5% $-211	+10% $-88
Rate	-1.0pp $-180	-0.5pp $-256	base $-334	+0.5pp $-413	+1.0pp $-493

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Padre Blvd #1208 South Padre Island, TX	1.0	2.0	781	$3,000	$3.84	45d	1	0.09mi
150 Padre Blvd Unit 1372339P South Padre Island, TX	2.0	2.0	1194	$4,507	$3.77	22d	1	0.15mi
113 W Sunny Isle Dr Unit 2 South Padre Island, TX	2.0	1.0	750	$2,300	$3.07	15d	1	1.05mi
111 W Sunny Isle Dr Unit 201 South Padre Island, TX	2.0	2.0	928	$2,500	$2.69	15d	1	1.06mi

HOA detail condo

• Monthly dues: $620 · $7,440/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $305,000 Active 23 DOM
2. 2026-06-17
   days on market $305,000 Active 22 DOM
3. 2026-06-16
   days on market $305,000 Active 21 DOM
4. 2026-06-15
   days on market $305,000 Active 20 DOM
5. 2026-06-14
   days on market $305,000 Active 18 DOM
6. 2026-06-13
   days on market $305,000 Active 17 DOM
7. 2026-06-10
   days on market $305,000 Active 15 DOM
8. 2026-06-09
   days on market $305,000 Active 14 DOM
9. 2026-06-09
   days on market $305,000 Active 13 DOM
10. 2026-06-07
    days on market $305,000 Active 12 DOM
11. 2026-06-03
    days on market $305,000 Active 8 DOM
12. 2026-06-02
    days on market $305,000 Active 7 DOM
13. 2026-06-01
    days on market $305,000 Active 6 DOM
14. 2026-05-31
    days on market $305,000 Active 5 DOM
15. 2026-05-30
    days on market $305,000 Active 4 DOM
16. 2026-05-15
    listed $305,000 Active 958-char remark

    Show marketing remark (958 chars)

    Top-floor coastal retreat offering more space than many comparable condos in the area — and competitively priced. Located just a short walk from the beach, this beautifully furnished 2-bedroom, 2-bath condo combines comfort, functionality, and island living in one attractive package. Enjoy abundant natural light, ocean breezes, and an open-concept living and dining area that flows seamlessly into the fully equipped kitchen — perfect for entertaining or relaxing after a day by the water. Both bedrooms are generously sized with ample closet space, while the primary suite features a private bath. Step onto your private balcony and enjoy the relaxed coastal atmosphere from this quiet, well-maintained community. Features include in-unit stackable washer/dryer, new roof installed in 2025, tennis and pickleball courts, and move-in ready furnishings. Excellent opportunity for a vacation getaway, or investment property on South Padre Island.

17. 2026-04-18
    historical $2,500
18. 2026-03-16
    listed $2,500
19. 2025-09-12
    historical $2,200
20. 2025-09-10
    listed $329,000 Active
21. 2025-07-14
    listed $2,200
22. 2025-07-07
    historical $2,200
23. 2025-05-17
    price $2,200
24. 2025-05-06
    listed $2,350
25. 2024-01-30
    historical $2,300
26. 2024-01-09
    listed $2,300
27. 2023-12-21
    historical $1,900
28. 2023-11-12
    price $1,900
29. 2023-10-17
    listed $2,100
30. 2021-05-21
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥105°F today · 31 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,375
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$2,322
• − Repairs & maintenance: −$2,990
• − Management: −$2,990
• − HOA: −$7,440
• − Depreciation: −$8,873
• Taxable loss: −$8,900
• Est. tax savings @ 24.0%: +$2,136
• After-tax cash flow: $-1,869/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This top-floor coastal retreat offers more space than many comparable condos in the area and is competitively priced. The property is in good condition with some cosmetic updates needed to enhance its value.

Repairs flagged

• Minor kitchen cabinets — Light wear and tear.
• Minor bathroom fixtures — Older style and possibly worn out.
• Minor living area flooring — Tile flooring appears worn and could benefit from a fresh coat of sealant.
• Minor paint in living areas — Paint appears faded and could be refreshed with a fresh coat.

Value-add opportunities

• Both Paint living areas and bathrooms — Fresh paint can significantly improve the appearance and value of the property.
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can enhance the functionality and aesthetic appeal of the kitchen.
• Both Replace bathroom fixtures — Modern fixtures can improve the functionality and aesthetic appeal of the bathrooms.
• Both Replace flooring in living areas — New flooring can enhance the functionality and aesthetic appeal of the living areas.
• Both Landscaping and curb appeal improvements — Fresh landscaping can improve the curb appeal and overall aesthetic of the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Light wear and tear.	Minor	$500–3,000
bathroom fixtures · Older style and possibly worn out.	Minor	$500–3,000
living area flooring · Tile flooring appears worn and could benefit from a fresh coat of sealant.	Minor	$500–3,000
paint in living areas · Paint appears faded and could be refreshed with a fresh coat.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint living areas and bathrooms — Fresh paint can significantly improve the appearance and value of the property. ↑
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can enhance the functionality and aesthetic appeal of the kitchen. ↑
• Both Replace bathroom fixtures — Modern fixtures can improve the functionality and aesthetic appeal of the bathrooms. ↑
• Both Replace flooring in living areas — New flooring can enhance the functionality and aesthetic appeal of the living areas. ↑
• Both Landscaping and curb appeal improvements — Fresh landscaping can improve the curb appeal and overall aesthetic of the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Point Isabel ISD
• NCES district ID: 4835250
• Math proficiency: 14% ▼ -24.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $38,115
• Composite: 18.78/100
• National rank: #8871
• State rank: #756 of 826 in TX

Livability — South Padre Island

• Score: 60/100
• State rank: #1077
• US rank: #19107

Category grades

Amenities C- Commute F Cost of living D- Crime F Employment B- Housing B Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Padre Island, TX
• County: Cameron County · 310,734 people
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 2,935
• Household income: $68,421
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 96.0

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 15% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 5% Lithuanian 4% German 2%
• Foreign-born: 13% · Canada
• Languages at home: 88% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.59%
• Current HPI: 425.29
• Rent YoY: —
• Metro: Brownsville-Harlingen, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+14423.8% since first listed

17 events — show timeline

• 2026-05-26 Listed $305,000 RGVMLS
• 2026-05-26 Listed $305,000 MCALLENMLS
• 2026-05-15 Listed $305,000 SPIBOR
• 2026-04-18 Rental Removed $2,500 Avail
• 2026-03-16 Listed for Rent $2,500 Avail
• 2025-09-12 Rental Removed $2,200 Avail
• 2025-09-10 Listed $329,000 SPIBOR
• 2025-07-14 Listed for Rent $2,200 Avail
• 2025-07-07 Rental Removed $2,200 Avail
• 2025-05-17 Price Changed $2,200 Avail
• 2025-05-06 Listed for Rent $2,350 Avail
• 2024-01-30 Rental Removed $2,300 Avail
• 2024-01-09 Listed for Rent $2,300 Avail
• 2023-12-21 Rental Removed $1,900 Avail
• 2023-11-12 Price Changed $1,900 Avail
• 2023-10-17 Listed for Rent $2,100 Avail
• 2021-05-21 Sold (MLS) — SPIBOR