892 Banyan Beach Dr #109 · Port Aransas, TX 78373

$199,000

1 bd · 1.0 ba · 663 sqft · Townhouse public records · 188 Days on market

Built 1960 2,069 sqft lot Est $200k · at est. $450/mo HOA · 23% of rent

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Why this score? — see what drove the F 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 +7.8/15.0
• Cash flow +6.4/30.0
• Schools +5.1/10.0
• 1% rule +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 109 Sunrise Villas in Port Aransas—a charming coastal retreat perfectly positioned just minutes from the beach and the heart of downtown. Whether you're seeking a full-time residence, vacation getaway, or income-producing property, this low-maintenance condo offers the ideal blend of comfort and convenience. Step inside to a bright and inviting layout that opens to your own private patio, perfect for morning coffee, grilling after a day on the sand, or relaxing in the coastal breeze. Enjoy peace of mind with assigned parking and access to coin-operated laundry just steps from your door. Sunrise Villas features a refreshing community swimming pool, giving you the best of Port A living without the upkeep. With shops, dining, nightlife, and sandy shores all close by, this location makes beach life effortless. RECENT ADDITION OF BRAND NEW AC SYSTEM IN MARCH 2026. Turnkey, affordable, and close to everything—109 Sunrise Villas is your chance to own a slice of Port Aransas paradise. Don’t miss it!

Key facts

• Private patio
• Assigned parking
• Close to beach

Tags

• PRIVATE PATIO
• ASSIGNED PARKING
• COIN OPERATED LAUNDRY
• COMMUNITY SWIMMING POOL
• CLOSE TO BEACH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $-345 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.4% below list).
• Recommended offer: $138k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 1.1% in Port Aransas — 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 67/100 on livability (#525 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, schools A-; Watch: commute C-, crime F, amenities F.
• Port Aransas ISD (rural): math 57% / reading 63% proficiency, ranked #68 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1012 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $199k implies a 453% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $137,997 (30.7% 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. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.44%
• DSCR: 0.67
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $200,226
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Banyan Beach Dr #159	0.04mi	1/1.0	663 (0%)	5mo	$149,000	$225	94
810 Banyan Beach Dr #160	0.04mi	1/1.0	663 (0%)	9mo	$224,000	$338	90
892 Banyan Beach #108	0.00mi	1/2.0	663 (0%)	12mo	$200,000	$302	86

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -29.0%
• Equity multiple: 0.03×
• Total profit: $-53,891
• Equity at exit: $29,672

10-year hold

• IRR: -28.0%
• Equity multiple: -0.32×
• Total profit: $-73,828
• Equity at exit: $17,206

Cash invested: $55,720 (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 78373

• Active inventory: 1012
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$319 /mo · $3,831/yr
• Insurance: −$83
• HOA: −$450
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-345

Break-even live

Break-even rent $2,400

Max offer price $137,997

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $450 · $5,400/yr
• Likely covers: poolparking

Listing history 13 events

1. 2026-05-31
   days on market $199,000 Active 188 DOM
2. 2026-05-30
   days on market $199,000 Active 187 DOM
3. 2026-03-13
   price $199,000 1035-char remark

   Show marketing remark (1035 chars)

   Welcome to 109 Sunrise Villas in Port Aransas—a charming coastal retreat perfectly positioned just minutes from the beach and the heart of downtown. Whether you're seeking a full-time residence, vacation getaway, or income-producing property, this low-maintenance condo offers the ideal blend of comfort and convenience. Step inside to a bright and inviting layout that opens to your own private patio, perfect for morning coffee, grilling after a day on the sand, or relaxing in the coastal breeze. Enjoy peace of mind with assigned parking and access to coin-operated laundry just steps from your door. Sunrise Villas features a refreshing community swimming pool, giving you the best of Port A living without the upkeep. With shops, dining, nightlife, and sandy shores all close by, this location makes beach life effortless. RECENT ADDITION OF BRAND NEW AC SYSTEM IN MARCH 2026. Turnkey, affordable, and close to everything—109 Sunrise Villas is your chance to own a slice of Port Aransas paradise. Don’t miss it!

4. 2026-02-05
   price $205,000 1035-char remark

   Show marketing remark (1035 chars)

   Welcome to 109 Sunrise Villas in Port Aransas—a charming coastal retreat perfectly positioned just minutes from the beach and the heart of downtown. Whether you're seeking a full-time residence, vacation getaway, or income-producing property, this low-maintenance condo offers the ideal blend of comfort and convenience. Step inside to a bright and inviting layout that opens to your own private patio, perfect for morning coffee, grilling after a day on the sand, or relaxing in the coastal breeze. Enjoy peace of mind with assigned parking and access to coin-operated laundry just steps from your door. Sunrise Villas features a refreshing community swimming pool, giving you the best of Port A living without the upkeep. With shops, dining, nightlife, and sandy shores all close by, this location makes beach life effortless. RECENT ADDITION OF BRAND NEW AC SYSTEM IN MARCH 2026. Turnkey, affordable, and close to everything—109 Sunrise Villas is your chance to own a slice of Port Aransas paradise. Don’t miss it!

5. 2025-11-24
   listed $210,000 Active 1035-char remark

   Show marketing remark (1035 chars)

   Welcome to 109 Sunrise Villas in Port Aransas—a charming coastal retreat perfectly positioned just minutes from the beach and the heart of downtown. Whether you're seeking a full-time residence, vacation getaway, or income-producing property, this low-maintenance condo offers the ideal blend of comfort and convenience. Step inside to a bright and inviting layout that opens to your own private patio, perfect for morning coffee, grilling after a day on the sand, or relaxing in the coastal breeze. Enjoy peace of mind with assigned parking and access to coin-operated laundry just steps from your door. Sunrise Villas features a refreshing community swimming pool, giving you the best of Port A living without the upkeep. With shops, dining, nightlife, and sandy shores all close by, this location makes beach life effortless. RECENT ADDITION OF BRAND NEW AC SYSTEM IN MARCH 2026. Turnkey, affordable, and close to everything—109 Sunrise Villas is your chance to own a slice of Port Aransas paradise. Don’t miss it!

6. 2015-12-02
   historical 572-char remark

   Show marketing remark (572 chars)

   One of a kind, turn key ready bottom floor unit at Sunrise Villas has gorgeous furnishings and decor, tile throughout, stacked washer/dryer, large walk in closet, built-ins throughout, open kitchen with breakfast bar and pendant lights, and an awesome tropical patio that opens to green space and just steps to the beach! Sunrise Villas offers a community pool with cabana, a rooftop deck that offers amazing panoramic gulf views, BBQ area, extra storage unit on side of building, assigned parking, coin laundry, and an in town location. All furnishings and decor convey.

7. 2015-08-14
   soldstatus Closed 572-char remark

   Show marketing remark (572 chars)

   One of a kind, turn key ready bottom floor unit at Sunrise Villas has gorgeous furnishings and decor, tile throughout, stacked washer/dryer, large walk in closet, built-ins throughout, open kitchen with breakfast bar and pendant lights, and an awesome tropical patio that opens to green space and just steps to the beach! Sunrise Villas offers a community pool with cabana, a rooftop deck that offers amazing panoramic gulf views, BBQ area, extra storage unit on side of building, assigned parking, coin laundry, and an in town location. All furnishings and decor convey.

8. 2015-08-14
   soldstatus

   Show marketing remark (572 chars)

   One of a kind, turn key ready bottom floor unit at Sunrise Villas has gorgeous furnishings and decor, tile throughout, stacked washer/dryer, large walk in closet, built-ins throughout, open kitchen with breakfast bar and pendant lights, and an awesome tropical patio that opens to green space and just steps to the beach! Sunrise Villas offers a community pool with cabana, a rooftop deck that offers amazing panoramic gulf views, BBQ area, extra storage unit on side of building, assigned parking, coin laundry, and an in town location. All furnishings and decor convey.

9. 2015-07-16
   status Pending 572-char remark

   Show marketing remark (572 chars)

   One of a kind, turn key ready bottom floor unit at Sunrise Villas has gorgeous furnishings and decor, tile throughout, stacked washer/dryer, large walk in closet, built-ins throughout, open kitchen with breakfast bar and pendant lights, and an awesome tropical patio that opens to green space and just steps to the beach! Sunrise Villas offers a community pool with cabana, a rooftop deck that offers amazing panoramic gulf views, BBQ area, extra storage unit on side of building, assigned parking, coin laundry, and an in town location. All furnishings and decor convey.

10. 2015-07-15
    listed Option Period 572-char remark

    Show marketing remark (572 chars)

    One of a kind, turn key ready bottom floor unit at Sunrise Villas has gorgeous furnishings and decor, tile throughout, stacked washer/dryer, large walk in closet, built-ins throughout, open kitchen with breakfast bar and pendant lights, and an awesome tropical patio that opens to green space and just steps to the beach! Sunrise Villas offers a community pool with cabana, a rooftop deck that offers amazing panoramic gulf views, BBQ area, extra storage unit on side of building, assigned parking, coin laundry, and an in town location. All furnishings and decor convey.

11. 2012-05-01
    soldstatus
12. 2010-03-26
    listed $115,000
13. 1999-03-29
    soldstatus $36,000

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,831 · $319/mo
• Projected year-2 tax: $3,831 · $319/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,551
• − Mortgage interest: −$11,147
• − Property taxes: −$3,831
• − Insurance: −$995
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − HOA: −$5,400
• − Depreciation: −$5,789
• Taxable loss: −$7,380
• Est. tax savings @ 24.0%: +$1,771
• After-tax cash flow: $-2,373/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.

Schools (NCES district)

• District: Port Aransas ISD
• NCES district ID: 4835370
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $47,528
• Composite: 50.82/100
• National rank: #1803
• State rank: #68 of 826 in TX

Livability — Port Aransas

• Score: 67/100
• State rank: #525
• US rank: #10286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Aransas, TX
• Population (ZIP): 3,314

Population outlook (Nueces County) Hauer SSP2

• Today (2025): 418,037 people
• By 2030: 447,123 · +7.0%
• By 2040: 505,911 · +21.0%
• By 2050: 567,522 · +35.8%
• By 2075: 729,686 · +74.6%
• By 2100: 847,087 · +102.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Serbian 2% Slovak 2% Iranian 2%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Other Indo-European 4% Spanish 3%

Political lean MEDSL · Nueces

• 2024 margin: R (+11.5) · D 43.8% · R 55.3%
• 2008→2024 swing: -7.1pp toward R · 2008: -4.4pp · 2024: -11.5pp
• All cycles: 2024: R+11.5 2020: R+2.9 2016: R+1.5 2012: R+3.2 2008: R+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.54%
• Current HPI: 268.699
• Rent YoY: —
• Metro: —
• 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

+452.8% since first listed

11 events — show timeline

• 2026-03-13 Price Changed $199,000 CBMLS
• 2026-02-05 Price Changed $205,000 CBMLS
• 2025-11-24 Listed $210,000 CBMLS
• 2015-12-02 Delisted — CBMLS
• 2015-08-14 Sold (Public Records) — Public Records
• 2015-08-14 Sold (MLS) — CBMLS
• 2015-07-16 Pending — CBMLS
• 2015-07-15 Listed — CBMLS
• 2012-05-01 Sold (Public Records) — Public Records
• 2010-03-26 Listed $115,000 CBMLS
• 1999-03-29 Sold (Public Records) $36,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $3,831 · +15.4% YoY. Source: county tax records.