3021 S 11th St #11 · Port Aransas, TX 78373

$429,000

3 bd · 3.5 ba · 1,708 sqft · Condo · 286 Days on market

Built 2007 Good condition $251/sqft · 26% below area Est $580k · 26% under $916/mo HOA · 26% of rent

---

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
• Schools +6.3/10.0
• Cash flow +4.4/30.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a steal! # 11 Meridian is a 3 bedroom 3.5 bath condo located in a smaller complex. It’s located on the end, so you only have neighbors on one side. This unit has upgrades to include wood look flooring, granite countertops and stainless appliances. It’s located “in town” so you can take a golfcart to the beach, shopping or sightseeing. You even get a garage making it easy to store your cart or beach toys. Offered furnished so you can buy it and enjoy it the same day without the hassle of “moving in”. This complex does allow vacation rentals, so you can rent it out when you are not using it if you want. Hurry to Port Aransas to take a look at this condo so you can "Get on Island Time"! Golf Cart available for an additional $8,000.

Key facts

• Wood look flooring
• Garage
• Stainless appliances

Tags

• WOOD LOOK FLOORING
• GRANITE COUNTERTOPS
• STAINLESS APPLIANCES
• GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $429k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (52.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (18.4% below list).
• Recommended offer: $206k (52.0% below list) — sets the bar for cash-flow.
• Cap rate 3.2% 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; 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.
• Zoned schools: Olsen El (math 47% / reading 57%, grade C-, #742 of 4,322 statewide, top 19%, 227 students, 35% FRL); Brundrett Middle (math 57% / reading 67%, grade B+, #134 of 1,662 statewide, top 8%, 115 students, 31% FRL); Port Aransas H S (math 74% / reading 74%, grade B+, #82 of 1,632 statewide, top 6%, 204 students, 19% FRL).
• Market conditions: 1107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $3,500/mo this rent would consume 47% of the median local household income ($90k/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 $3k of loan paydown is wiped out by about $13k 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 286 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $427/mo; HOA is 26% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,832 (52.0% 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 286 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.82% ✗
• Cap rate: 3.17%
• Cash-on-cash: -11.15%
• DSCR: 0.50
• GRM: 10.2

CMA / ARV

• ARV (median comp): $580,219
• List price: $429,000
• Delta: -26.06%
• 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
720 Access Road 1-a #306	0.37mi	3/3.0	1,748 (+2%)	2mo	$669,900	$383	75
604 Parkplace	0.17mi	3/2.0	1,560 (-9%)	0mo	$649,000	$416	71
700 Island Retreat #138	0.45mi	4/3.0 (+1)	1,648 (-4%)	1mo	$625,000	$379	66
912 Sea Secret St	1.36mi	3/3.0	1,718 (+1%)	1mo	$599,000	$349	61
137 Palmilla Cir #201	0.60mi	3/2.0	1,761 (+3%)	1mo	$639,900	$363	60
720 Access Road 1-a #713	0.37mi	2/3.0 (-1)	1,531 (-10%)	1mo	$599,000	$391	57
181 Sunset Ave	0.76mi	3/2.5	1,688 (-1%)	2mo	$799,000	$473	57
2525 S 11th St #61	0.35mi	4/3.5 (+1)	2,127 (+24%)	3mo	$849,000	$399	51
720 Access Road 1-a #601	0.37mi	2/2.0 (-1)	1,303 (-24%)	1mo	$425,000	$326	46
717 Sunrise Ave	1.35mi	4/3.5 (+1)	1,934 (+13%)	2mo	$895,000	$463	36
112 Redfish Ln	0.70mi	4/3.0 (+1)	1,359 (-20%)	2mo	$599,900	$441	34
727 La Juana Ct	0.97mi	4/3.0 (+1)	1,972 (+16%)	2mo	$889,000	$451	31

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: -45.6%
• Equity multiple: -0.39×
• Total profit: $-166,866
• Equity at exit: $63,965

10-year hold

• IRR: -80.9%
• Equity multiple: -1.23×
• Total profit: $-268,222
• Equity at exit: $37,092

Cash invested: $120,120 (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: 2 active
• Median asking: $519,500 ($336/sqft)
• Median days on market: 182 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +1.0% vs current asking $/sqft

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

ZIP-level market 78373

• Active inventory: 1107
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,250
• Tax est. 1.5%: −$536 /mo · $6,435/yr
• Insurance: −$179
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$916
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-1,542

Break-even live

Break-even rent $5,452

Max offer price $205,832

Occupancy floor —

Sensitivity live

Price	-10% $-1,246	-5% $-1,394	+0% $-1,542	+5% $-1,691	+10% $-1,839
Rent	-10% $-1,819	-5% $-1,681	+0% $-1,542	+5% $-1,404	+10% $-1,266
Rate	-1.0pp $-1,326	-0.5pp $-1,433	base $-1,542	+0.5pp $-1,653	+1.0pp $-1,767

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: $107,250
• Closing costs: $12,870
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2606 S 11th St #2 Port Aransas, TX	4.0	3.5	1480	$3,500	$2.36	63d	1	0.32mi

HOA detail $916/mo · $10,992/yr condo

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

Listing history 50 events

1. 2026-07-31
   days on market $429,000 Active 286 DOM
2. 2026-07-29
   days on market $429,000 Active 284 DOM
3. 2026-07-27
   days on market $429,000 Active 282 DOM
4. 2026-07-25
   days on market $429,000 Active 280 DOM
5. 2026-07-24
   days on market $429,000 Active 279 DOM
6. 2026-07-23
   days on market $429,000 Active 278 DOM
7. 2026-07-22
   days on market $429,000 Active 277 DOM
8. 2026-07-21
   days on market $429,000 Active 276 DOM
9. 2026-07-18
   days on market $429,000 Active 273 DOM
10. 2026-07-16
    days on market $429,000 Active 271 DOM
11. 2026-07-16
    days on market $429,000 Active 270 DOM
12. 2026-07-14
    days on market $429,000 Active 269 DOM
13. 2026-07-13
    days on market $429,000 Active 268 DOM
14. 2026-07-12
    days on market $429,000 Active 267 DOM
15. 2026-07-11
    days on market $429,000 Active 266 DOM
16. 2026-07-10
    days on market $429,000 Active 265 DOM
17. 2026-07-09
    days on market $429,000 Active 264 DOM
18. 2026-07-08
    days on market $429,000 Active 263 DOM
19. 2026-07-07
    days on market $429,000 Active 262 DOM
20. 2026-07-06
    days on market $429,000 Active 261 DOM
21. 2026-07-05
    days on market $429,000 Active 260 DOM
22. 2026-07-04
    days on market $429,000 Active 259 DOM
23. 2026-07-03
    days on market $429,000 Active 258 DOM
24. 2026-07-02
    days on market $429,000 Active 257 DOM
25. 2026-07-01
    days on market $429,000 Active 256 DOM
26. 2026-06-30
    days on market $429,000 Active 255 DOM
27. 2026-06-29
    days on market $429,000 Active 254 DOM
28. 2026-06-28
    days on market $429,000 Active 253 DOM
29. 2026-06-28
    days on market $429,000 Active 252 DOM
30. 2026-06-27
    days on market $429,000 Active 251 DOM
31. 2026-06-25
    days on market $429,000 Active 249 DOM
32. 2026-06-23
    days on market $429,000 Active 247 DOM
33. 2026-06-21
    days on market $429,000 Active 246 DOM
34. 2026-06-18
    days on market $429,000 Active 243 DOM
35. 2026-06-17
    days on market $429,000 Active 242 DOM
36. 2026-06-16
    days on market $429,000 Active 241 DOM
37. 2026-06-15
    days on market $429,000 Active 240 DOM
38. 2026-06-14
    days on market $429,000 Active 238 DOM
39. 2026-06-13
    days on market $429,000 Active 237 DOM
40. 2026-06-10
    days on market $429,000 Active 235 DOM
41. 2026-06-09
    days on market $429,000 Active 234 DOM
42. 2026-06-08
    days on market $429,000 Active 233 DOM
43. 2026-06-07
    days on market $429,000 Active 232 DOM
44. 2026-06-03
    days on market $429,000 Active 228 DOM
45. 2026-06-02
    days on market $429,000 Active 227 DOM
46. 2026-06-01
    days on market $429,000 Active 226 DOM
47. 2026-05-31
    days on market $429,000 Active 225 DOM
48. 2026-05-30
    days on market $429,000 Active 224 DOM
49. 2026-03-19
    price $429,000 789-char remark

    Show marketing remark (789 chars)

    What a steal! # 11 Meridian is a 3 bedroom 3.5 bath condo located in a smaller complex. It’s located on the end, so you only have neighbors on one side. This unit has upgrades to include wood look flooring, granite countertops and stainless appliances. It’s located “in town” so you can take a golfcart to the beach, shopping or sightseeing. You even get a garage making it easy to store your cart or beach toys. Offered furnished so you can buy it and enjoy it the same day without the hassle of “moving in”. This complex does allow vacation rentals, so you can rent it out when you are not using it if you want. Hurry to Port Aransas to take a look at this condo so you can "Get on Island Time"! Golf Cart available for an additional $8,000.

50. 2025-10-18
    listed $449,000 Active 789-char remark

    Show marketing remark (789 chars)

    What a steal! # 11 Meridian is a 3 bedroom 3.5 bath condo located in a smaller complex. It’s located on the end, so you only have neighbors on one side. This unit has upgrades to include wood look flooring, granite countertops and stainless appliances. It’s located “in town” so you can take a golfcart to the beach, shopping or sightseeing. You even get a garage making it easy to store your cart or beach toys. Offered furnished so you can buy it and enjoy it the same day without the hassle of “moving in”. This complex does allow vacation rentals, so you can rent it out when you are not using it if you want. Hurry to Port Aransas to take a look at this condo so you can "Get on Island Time"! Golf Cart available for an additional $8,000.

ⓘ 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 AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 30 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$24,031
• − Property taxes: −$6,435
• − Insurance: −$7,264
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$10,992
• − Depreciation: −$12,480
• Taxable loss: −$25,921
• Est. tax savings @ 24.0%: +$6,221
• After-tax cash flow: $-12,286/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 80/100 Cosmetic rehab Est. rehab $8,540–$25,620 screening

This well-maintained 3-bedroom 3.5-bath condo in a small complex is ready for immediate occupancy and offers a great investment opportunity.

Value-add opportunities

• Both landscaping — improves curb appeal and enhances property value ↑
• Rental pool maintenance — keeps the pool area in good condition for potential renters ↑

ⓘ 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.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Olsen El C- TX #742/4,322 Nat'l #11,263/41,679 Middle Brundrett Middle B+ TX #134/1,662 Nat'l #1,545/14,009 High Port Aransas H S B+ TX #82/1,632 Nat'l #1,629/17,239

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

C Composite livability gradescore 67/100

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
• County: Nueces · 418,037 people
• Metro: Corpus Christi, TX
• Population (ZIP): 3,314
• Household income: $90,000
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 20% of renters

---

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

+114.6% since first listed

11 events — show timeline

• 2026-03-19 Price Changed $429,000 CBMLS
• 2025-10-18 Listed $449,000 CBMLS
• 2025-05-30 Price Changed $459,000 CBMLS
• 2025-03-25 Price Changed $479,000 CBMLS
• 2025-01-02 Price Changed $499,999 CBMLS
• 2024-05-16 Price Changed $519,000 CBMLS
• 2023-12-12 Listed $565,000 CBMLS
• 2023-08-30 Price Changed $579,000 CBMLS
• 2023-04-25 Listed $599,000 CBMLS
• 2009-11-30 Sold (MLS) — CBMLS
• 2006-11-16 Listed $199,900 CBMLS