120 Padre Blvd #508 · South Padre Island, TX 78597

$210,000

1 bd · 1.0 ba · 642 sqft · Townhouse · 20 Days on market

Built 1984 Good condition $327/sqft · at area comps Est $218k · at est.

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Why this score? — see what drove the C+ 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).

• Cash flow +25.1/30.0
• ARV discount +9.1/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy island living in this charming 1-bedroom condo in South Padre Island! This 642 sq ft unit offers a comfortable layout with a private balcony area perfect for relaxing after a day at the beach. The kitchen comes equipped with appliances included, making it move-in or rental ready. Located within walking distance to the beach, restaurants, and the popular Beach Waterpark, this condo places you right in the heart of everything South Padre Island has to offer. Community amenities include a large swimming pool with hot tub area, covered outdoor dining space, and BBQ pits, creating the perfect setting for entertaining and enjoying the coastal lifestyle.

Key facts

• Private balcony area
• Bbq pits
• Hot tub area

Tags

• PRIVATE BALCONY AREA
• WALKING DISTANCE TO THE BEACH
• LARGE SWIMMING POOL
• HOT TUB AREA
• COVERED OUTDOOR DINING SPACE
• BBQ PITS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $37 ($439/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 580 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• This rent runs 43% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 20 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 8→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,850 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $217,504
• List price: $210,000
• Delta: 3.45%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Padre Blvd #507	0.00mi	1/1.0	642 (0%)	14mo	$225,000	$350	89
130 Padre Blvd #411	0.04mi	1/1.0	642 (0%)	13mo	$209,500	$326	87
130 Padre Blvd #204	0.04mi	1/1.0	642 (0%)	14mo	$224,000	$349	87
120 Padre Blvd	0.00mi	1/1.0	642 (0%)	19mo	$235,000	$366	84
130 Padre Blvd #309	0.04mi	1/1.0	642 (0%)	31mo	$239,999	$374	78
130 Padre Blvd #607	0.04mi	1/1.0	642 (0%)	34mo	$245,000	$382	78
200 Padre Blvd #1206	0.13mi	1/1.0	781 (+22%)	11mo	$269,500	$345	60
110 E Pompano St E #202	1.35mi	2/1.0 (+1)	656 (+2%)	3mo	$265,000	$404	54
2000 Gulf Blvd #704	1.28mi	1/1.0	591 (-8%)	2mo	$395,000	$668	50
102 E Tarpon St	1.39mi	2/1.0 (+1)	672 (+5%)	8mo	$525,000	$781	45
2000 Gulf Blvd #401	1.28mi	2/1.0 (+1)	678 (+6%)	11mo	$259,000	$382	41
110 E Pompano St Unit 210&410	1.34mi	2/2.0 (+1)	656 (+2%)	14mo	$275,000	$419	41

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-31,400
• Equity at exit: $31,312

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-23,128
• Equity at exit: $18,157

Cash invested: $58,800 (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: 9 active · 5 under contract
• Median asking: $224,900 ($350/sqft)
• Median days on market: 155 d
• This list price: 11% of active listings are priced below it
• ARV vs active asking: -3.3% vs 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: 580
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,423 medium
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $37

Break-even live

Break-even rent $2,377

Max offer price $210,000

Occupancy floor 93%

Sensitivity live

Price	-10% $182	-5% $109	+0% $37	+5% $-36	+10% $-109
Rent	-10% $-155	-5% $-59	+0% $37	+5% $132	+10% $228
Rate	-1.0pp $142	-0.5pp $90	base $37	+0.5pp $-18	+1.0pp $-73

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: $52,500
• Closing costs: $6,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Padre Blvd Unit 1507754P South Padre Island, TX	1.0	2.0	667	$3,382	$5.07	63d	1	0.41mi
113 W Sunny Isle Dr Unit 2 South Padre Island, TX	2.0	1.0	750	$2,300	$3.07	63d	1	1.03mi

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee

Exterior

• Security: Smoke detectorsStorm doors
• Utilities: Public waterPublic sewerCable available
• Home design: Condominium3-story building
• Construction: Stucco construction
• Exterior features: BalconyGazeboIn-ground pool

Interior

• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric)Central airCeiling fans
• Interior features: Storm windowsTile flooringElectric water heater

Listing history 50 events

1. 2026-08-08
   days on market $210,000 Active 20 DOM
2. 2026-08-07
   days on market $210,000 Active 19 DOM
3. 2026-08-06
   days on market $210,000 Active 18 DOM
4. 2026-08-05
   days on market $210,000 Active 17 DOM
5. 2026-08-04
   days on market $210,000 Active 16 DOM
6. 2026-08-03
   days on market $210,000 Active 15 DOM
7. 2026-07-31
   days on market $210,000 Active 12 DOM
8. 2026-07-29
   days on market $210,000 Active 10 DOM
9. 2026-07-27
   days on market $210,000 Active 8 DOM
10. 2026-07-25
    days on market $210,000 Active 6 DOM
11. 2026-07-23
    days on market $210,000 Active 4 DOM
12. 2026-07-22
    days on market $210,000 Active 3 DOM
13. 2026-07-21
    pricedays on marketlisting id $210,000 Active 2 DOM
14. 2026-07-18
    days on market $225,000 Active 129 DOM
15. 2026-07-16
    days on market $225,000 Active 127 DOM
16. 2026-07-16
    days on market $225,000 Active 126 DOM
17. 2026-07-14
    days on market $225,000 Active 125 DOM
18. 2026-07-13
    days on market $225,000 Active 124 DOM
19. 2026-07-12
    days on market $225,000 Active 123 DOM
20. 2026-07-11
    days on market $225,000 Active 122 DOM
21. 2026-07-10
    days on market $225,000 Active 121 DOM
22. 2026-07-09
    days on market $225,000 Active 120 DOM
23. 2026-07-08
    days on market $225,000 Active 119 DOM
24. 2026-07-07
    days on market $225,000 Active 118 DOM
25. 2026-07-06
    days on market $225,000 Active 117 DOM
26. 2026-07-05
    days on market $225,000 Active 116 DOM
27. 2026-07-04
    days on market $225,000 Active 115 DOM
28. 2026-07-03
    days on market $225,000 Active 114 DOM
29. 2026-07-02
    days on market $225,000 Active 113 DOM
30. 2026-07-01
    days on market $225,000 Active 112 DOM
31. 2026-06-30
    days on market $225,000 Active 111 DOM
32. 2026-06-29
    days on market $225,000 Active 110 DOM
33. 2026-06-28
    days on market $225,000 Active 109 DOM
34. 2026-06-28
    days on market $225,000 Active 108 DOM
35. 2026-06-27
    days on market $225,000 Active 107 DOM
36. 2026-06-25
    days on market $225,000 Active 105 DOM
37. 2026-06-23
    days on market $225,000 Active 103 DOM
38. 2026-06-22
    days on market $225,000 Active 102 DOM
39. 2026-06-18
    days on market $225,000 Active 99 DOM
40. 2026-06-17
    days on market $225,000 Active 98 DOM
41. 2026-06-16
    days on market $225,000 Active 97 DOM
42. 2026-06-15
    days on market $225,000 Active 96 DOM
43. 2026-06-14
    days on market $225,000 Active 94 DOM
44. 2026-06-13
    days on market $225,000 Active 93 DOM
45. 2026-06-10
    days on market $225,000 Active 91 DOM
46. 2026-06-09
    days on market $225,000 Active 90 DOM
47. 2026-06-09
    days on market $225,000 Active 89 DOM
48. 2026-06-07
    days on market $225,000 Active 88 DOM
49. 2026-06-03
    days on market $225,000 Active 84 DOM
50. 2026-06-02
    days on market $225,000 Active 83 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 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥105°F today · 30 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: $29,079
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$6,169
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − Depreciation: −$6,109
• Taxable loss: −$2,764
• Est. tax savings @ 24.0%: +$663
• After-tax cash flow: $1,103/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 $3,210–$9,630 screening

This charming 1-bedroom condo in South Padre Island is move-in ready with a private balcony and community amenities. A fresh coat of paint and updated kitchen cabinets would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Aged design
• Minor Bathroom fixtures — Standard, slightly dated design

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — Modernizes the space and improves functionality ↑

ⓘ 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.

F Composite school gradezoned avg 24/100

Zoned Schools

Middle Port Isabel J H F TX #1,445/1,662 Nat'l #11,801/14,009 High Port Isabel H S F TX #1,112/1,632 Nat'l #11,215/17,239

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

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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%

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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%

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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

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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 association with monthly fee

Exterior

• Security: Smoke detectorsStorm doors
• Utilities: Public waterPublic sewerCable available
• Home design: Condominium3-story building
• Construction: Stucco construction
• Exterior features: BalconyGazeboIn-ground pool

Interior

• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric)Central airCeiling fans
• Interior features: Storm windowsTile flooringElectric water heater

Price history

1 event — show timeline

• 2026-07-20 Listed $210,000 RGVMLS