6410 Padre Blvd #206 · South Padre Island, TX 78597

$319,000

3 bd · 2.0 ba · 1,402 sqft · Condo · 16 Days on market

Built 2005 Good condition $228/sqft · 33% below area Est $478k · 33% under $746/mo HOA · 28% of rent ↓ 8% since listing

---

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 +15.0/15.0
• Cash flow +4.3/30.0
• Condition / age +3.8/5.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Las Verandas, a gated South Padre Island community offering relaxed coastal living just minutes from the beach and island attractions. This second-floor 3-bedroom, 2-bath condominium features a practical layout with an additional bunk room for extra sleeping space, ideal for hosting guests or maximizing rental appeal. Community amenities include beautifully maintained grounds, an elevator, exclusive pool and hot tub, creating the perfect setting to unwind after a day exploring the island. Conveniently located near the South Padre Island Convention Center, Sea Turtle Inc. , Clayton's Beach Bar, and local restaurants.

Key facts

• Gated community
• Hot tub
• Community amenities

Tags

• GATED COMMUNITY
• ADDITIONAL BUNK ROOM
• COMMUNITY AMENITIES
• EXCLUSIVE POOL
• HOT TUB
• BEAUTIFULLY MAINTAINED GROUNDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $319k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-847 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (16.5% below list).
• Recommended offer: $196k (38.4% below list) — sets the bar for cash-flow.
• Cap rate 3.1% 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) — zoned schools average 84% FRL vs 35% district-wide (49 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 688 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 30d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• At $2,662/mo this rent would consume 47% of the median local household income ($68k/yr) (locally 20% 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 $10k 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 16 days — a 2% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,405 (38.4% 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 3.11%
• Cash-on-cash: -11.38%
• DSCR: 0.49
• GRM: 10.0

CMA / ARV

• ARV (median comp): $478,442
• List price: $319,000
• Delta: -33.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 E Parade Dr Unit D	0.39mi	2/2.5 (-1)	1,521 (+8%)	4mo	$515,000	$339	57
109 E Parade Dr Unit I	0.39mi	2/2.5 (-1)	1,521 (+8%)	4mo	$500,000	$329	57
109 E Parade Dr Unit C	0.39mi	2/2.5 (-1)	1,521 (+8%)	5mo	$500,000	$329	56
109 E Parade Dr Unit G	0.39mi	2/2.5 (-1)	1,521 (+8%)	6mo	$500,000	$329	56
6101 Padre Blvd #104	0.39mi	3/3.5	1,512 (+8%)	10mo	$950,000	$628	55
3900 Gulf Blvd #503	1.45mi	3/3.0	1,431 (+2%)	4mo	$715,000	$500	54
5101 Laguna Blvd #202	0.76mi	3/2.0	1,464 (+4%)	5mo	$720,000	$492	54
111 E Venus Ln #3	1.12mi	3/2.0	1,109 (-21%)	4mo	$355,000	$320	37
120A E Huisache Unit A	1.49mi	3/3.5	1,540 (+10%)	8mo	$575,000	$373	36
201 W Oleander St #6	1.41mi	2/2.0 (-1)	1,166 (-17%)	2mo	$270,000	$232	34
119 E Polaris Dr	0.78mi	3/3.0	1,628 (+16%)	6mo	$749,000	$460	31
124 E Mars St Unit A	0.98mi	2/2.0 (-1)	1,070 (-24%)	5mo	$399,900	$374	30

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: -36.8%
• Equity multiple: -0.18×
• Total profit: $-105,153
• Equity at exit: $47,564

10-year hold

• IRR: -50.4%
• Equity multiple: -0.78×
• Total profit: $-159,022
• Equity at exit: $27,581

Cash invested: $89,320 (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 →

Active competition Active MLS

• For sale now: 1 active · 2 under contract
• Median asking: $325,000 ($256/sqft)
• Median days on market: 169 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +33.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78597

• Home prices YoY: -13.5%
• Active inventory: 688
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA: −$746
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-847

Break-even live

Break-even rent $3,735

Max offer price $196,405

Occupancy floor —

Sensitivity live

Price	-10% $-627	-5% $-737	+0% $-847	+5% $-957	+10% $-1,068
Rent	-10% $-1,058	-5% $-952	+0% $-847	+5% $-742	+10% $-637
Rate	-1.0pp $-687	-0.5pp $-766	base $-847	+0.5pp $-930	+1.0pp $-1,014

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: $79,750
• Closing costs: $9,570
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6410 Padre Blvd South Padre Island, TX	2.0–3.0	2.0	1304	$2,700	$2.07	185d	3	0.02mi
6410 Padre Blvd South Padre Island, TX	2.0–3.0	2.0	1310	$2,700	$2.06	184d	2	0.02mi
6410 Padre Blvd South Padre Island, TX	3.0	2.0	1402	$2,700	$1.93	162d	1	0.03mi
6516 Padre Blvd Unit 2 South Padre Island, TX	3.0	3.0	1800	$2,500	$1.39	0d	1	0.14mi
5909 Padre Blvd #303 South Padre Island, TX	2.0	2.0	1252	$3,000	$2.40	0d	1	0.26mi
6201 Padre Blvd Unit 102 South Padre Island, TX	2.0	2.0	980	$2,200	$2.24	154d	1	0.32mi
6201 Padre Blvd Unit 102 South Padre Island, TX	2.0	2.0	980	$2,200	$2.24	0d	1	0.32mi
104 E Parade Dr #19 South Padre Island, TX	2.0	2.5	1100	$2,200	$2.00	22d	1	0.37mi
130 E Cora Lee Dr Unit West South Padre Island, TX	2.0	2.0	1008	$2,200	$2.18	10d	1	0.51mi
122 E Verna Jean Dr South Padre Island, TX	3.0	3.5	1800	$4,500	$2.50	184d	1	0.68mi
111 E Polaris Dr #7 South Padre Island, TX	2.0	2.0	882	$1,800	$2.04	184d	1	0.77mi
102 W Aries Dr Unit A South Padre Island, TX	2.0	2.0	1084	$2,150	$1.98	12d	1	0.80mi
103 E Aries Dr #3 South Padre Island, TX	2.0	2.0	1021	$2,200	$2.15	184d	1	0.83mi
106 W Capricorn Dr South Padre Island, TX	2.0	2.0	1084	$2,200	$2.03	184d	1	0.86mi
4908 Gulf Blvd #301 South Padre Island, TX	2.0	1.0	925	$3,300	$3.57	10d	1	0.87mi
4901 Laguna Blvd #304 South Padre Island, TX	2.0	2.0	979	$1,990	$2.03	33d	1	0.87mi
101 E Capricorn Dr Unit B South Padre Island, TX	2.0	2.0	1600	$2,100	$1.31	14d	1	0.88mi
101 E Capricorn Dr Unit B South Padre Island, TX	2.0	2.0	1600	$2,100	$1.31	10d	1	0.88mi
201 W Capricorn Dr Unit N603 South Padre Island, TX	2.0	2.5	1643	$3,200	$1.95	0d	1	0.91mi
201 W Capricorn Dr Unit N102 South Padre Island, TX	2.0	2.5	1800	$3,300	$1.83	0d	1	0.91mi
128 E Venus Ln South Padre Island, TX	2.0	2.0	1200	$2,650	$2.21	29d	1	1.08mi
132 E Gardenia St Unit 1515054P South Padre Island, TX	2.0	2.0	1162	$4,746	$4.08	154d	1	1.30mi
102 E Gardenia St #8 South Padre Island, TX	3.0	2.0	1355	$2,595	$1.92	10d	1	1.30mi
3900 Gulf Blvd #602 South Padre Island, TX	2.0	2.0	1167	$2,600	$2.23	184d	1	1.43mi
115 E Lantana St South Padre Island, TX	2.0	2.0	1168	$2,500	$2.14	29d	1	1.45mi
115 E Lantana St South Padre Island, TX	2.0	2.0	1168	$2,500	$2.14	10d	1	1.45mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	154d	1	1.45mi
134 E Huisache St Unit 1391810P South Padre Island, TX	3.0	3.0	1582	$7,410	$4.68	162d	1	1.48mi

Property features AI

Finance

• HOA & community: Homeowners associationMonthly association fee of $746Gated communityCommunity pool

Exterior

• Home design: Condominium
• Exterior features: Outdoor pool

Interior

• Bathrooms: 2 full bathrooms

HOA detail $746/mo · $8,952/yr condo

• Likely covers: landscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $319,000 Active 16 DOM
2. 2026-11-07
   days on market $319,000 Active 15 DOM
3. 2026-11-06
   days on market $319,000 Active 14 DOM
4. 2026-11-05
   days on market $319,000 Active 13 DOM
5. 2026-11-04
   days on market $319,000 Active 12 DOM
6. 2026-11-02
   days on market $319,000 Active 10 DOM
7. 2026-11-01
   days on market $319,000 Active 9 DOM
8. 2026-10-31
   days on market $319,000 Active 8 DOM
9. 2026-10-30
   days on market $319,000 Active 7 DOM
10. 2026-10-29
    days on market $319,000 Active 6 DOM
11. 2026-10-28
    days on market $319,000 Active 5 DOM
12. 2026-10-27
    days on market $319,000 Active 4 DOM
13. 2026-10-26
    days on market $319,000 Active 3 DOM
14. 2026-10-25
    days on market $319,000 Active 2 DOM
15. 2026-10-23
    days on marketlisting id $319,000 Active 1 DOM
16. 2026-10-20
    days on market $319,000 Active 224 DOM
17. 2026-10-19
    days on market $319,000 Active 223 DOM
18. 2026-10-18
    days on market $319,000 Active 222 DOM
19. 2026-10-17
    days on market $319,000 Active 221 DOM
20. 2026-10-16
    days on market $319,000 Active 220 DOM
21. 2026-10-15
    days on market $319,000 Active 219 DOM
22. 2026-10-14
    days on market $319,000 Active 218 DOM
23. 2026-10-13
    days on market $319,000 Active 217 DOM
24. 2026-10-12
    days on market $319,000 Active 216 DOM
25. 2026-10-11
    days on market $319,000 Active 215 DOM
26. 2026-10-10
    days on market $319,000 Active 214 DOM
27. 2026-10-09
    days on market $319,000 Active 213 DOM
28. 2026-10-08
    days on market $319,000 Active 212 DOM
29. 2026-10-07
    days on market $319,000 Active 211 DOM
30. 2026-10-06
    days on market $319,000 Active 210 DOM
31. 2026-10-05
    days on market $319,000 Active 209 DOM
32. 2026-10-04
    days on market $319,000 Active 208 DOM
33. 2026-10-04
    days on market $319,000 Active 207 DOM
34. 2026-10-02
    days on market $319,000 Active 206 DOM
35. 2026-10-01
    days on market $319,000 Active 205 DOM
36. 2026-09-30
    days on market $319,000 Active 204 DOM
37. 2026-09-29
    days on market $319,000 Active 203 DOM
38. 2026-09-28
    days on market $319,000 Active 202 DOM
39. 2026-09-27
    days on market $319,000 Active 201 DOM
40. 2026-09-26
    days on market $319,000 Active 200 DOM
41. 2026-09-25
    days on market $319,000 Active 199 DOM
42. 2026-09-24
    days on market $319,000 Active 198 DOM
43. 2026-09-23
    days on market $319,000 Active 197 DOM
44. 2026-09-22
    days on market $319,000 Active 196 DOM
45. 2026-09-21
    days on market $319,000 Active 195 DOM
46. 2026-09-20
    days on market $319,000 Active 194 DOM
47. 2026-09-18
    days on market $319,000 Active 192 DOM
48. 2026-09-17
    days on market $319,000 Active 191 DOM
49. 2026-09-16
    days on market $319,000 Active 190 DOM
50. 2026-09-15
    days on market $319,000 Active 189 DOM

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $31,949
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,556
• − Management: −$2,556
• − HOA: −$8,952
• − Depreciation: −$9,280
• Taxable loss: −$15,644
• Est. tax savings @ 24.0%: +$3,755
• After-tax cash flow: $-6,412/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $7,010–$21,030 screening

This well-maintained, second-floor condo in Las Verandas offers a good condition with minimal repairs needed. The property's location and amenities make it a strong rental option.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value. ↑
• Rental Clean pool and hot tub — Keeps amenities in top condition for rental appeal. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

C Composite livability gradescore 60/100

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 · 441,603 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: 20% of renters

---

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%
• 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

Property features AI

Finance

• HOA & community: Homeowners associationMonthly association fee of $746Gated communityCommunity pool

Exterior

• Home design: Condominium
• Exterior features: Outdoor pool

Interior

• Bathrooms: 2 full bathrooms

Price history

-7.5% since first listed

6 events — show timeline

• 2026-10-23 Listed $319,000 SPIBOR
• 2026-08-21 Price Changed $319,000 SPIBOR
• 2026-07-31 Contingent — SPIBOR
• 2026-06-03 Contingent — SPIBOR
• 2026-04-01 Price Changed $335,000 SPIBOR
• 2026-03-11 Listed $345,000 SPIBOR