401 Island Ave Unit 60A · Port Isabel, TX 78578

$185,000

2 bd · 1.0 ba · 800 sqft · Condo · 127 Days on market

Built 1985 Good condition $231/sqft · at area comps Est $178k · at est.

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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).

• 1% rule +6.1/10.0
• ARV discount +5.6/15.0
• Schools +5.0/10.0
• Cash flow +4.2/30.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you are looking a peaceful and serene area to live, this is the place!! This charming waterfront condo offers beautiful sunset views, access to a boat slip just a few steps from your door, an amazing, community pool with brick grills available perfect for your family gatherings, the private access gives you security and peace of mind in your daily life. A private storage unit is included to secure all your outdoor gear. Don't look further, schedule your private showing today!!

Key facts

• Community pool
• Waterfront condo
• Private storage unit

Tags

• WATERFRONT CONDO
• SUNSET VIEWS
• BOAT SLIP
• COMMUNITY POOL
• PRIVATE ACCESS
• PRIVATE STORAGE UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-927 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (6.0% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#157 in TX, #4,282 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Market conditions: 254 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

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 127 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 41% 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 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% 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 127 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 1.11% ✓
• Cap rate: 3.05%
• Cash-on-cash: -11.59%
• DSCR: 0.48
• GRM: 7.5

CMA / ARV

• ARV (median comp): $177,666
• List price: $185,000
• Delta: 4.13%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -60.5%
• Equity multiple: -0.70×
• Total profit: $-88,181
• Equity at exit: $27,584

10-year hold

• IRR: —
• Equity multiple: -1.89×
• Total profit: $-149,470
• Equity at exit: $15,995

Cash invested: $51,800 (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 →

ZIP-level market 78578

• Home prices YoY: -21.7%
• Active inventory: 254
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,061 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$850
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-927

Break-even live

Break-even rent $3,234

Max offer price $50,911

Occupancy floor —

Sensitivity live

Price	-10% $-799	-5% $-863	+0% $-927	+5% $-991	+10% $-1,055
Rent	-10% $-1,089	-5% $-1,008	+0% $-927	+5% $-845	+10% $-764
Rate	-1.0pp $-833	-0.5pp $-880	base $-927	+0.5pp $-975	+1.0pp $-1,023

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Island Ave Unit 73B Port Isabel, TX	2.0	1.0	872	$1,600	$1.83	44d	1	0.02mi
1009 Trout Ave Port Isabel, TX	2.0	2.0	1104	$2,000	$1.81	21d	1	0.12mi
1009 Bass Ave Unit 3 Port Isabel, TX	2.0	1.0	946	$2,000	$2.11	44d	1	0.15mi
1506 Texas 100 Port Isabel, TX	2.0	2.0	840	$2,700	$3.21	44d	1	0.22mi
829 N Yturria St Unit 2 Port Isabel, TX	2.0	1.0	900	$2,200	$2.44	21d	1	0.34mi
121 E Madison St Port Isabel, TX	2.0	1.0	1000	$1,900	$1.90	44d	1	0.85mi
515 W Clam Cir Unit 1515048P Port Isabel, TX	2.0	1.5	796	$2,916	$3.66	21d	1	1.10mi
123 Las Joyas Blvd Port Isabel, TX	1.0	1.0	590	$1,700	$2.88	44d	1	1.11mi
87 Abalone Cir Port Isabel, TX	2.0	2.0	800	$2,850	$3.56	21d	1	1.21mi
793 E Oyster Dr Unit 1515047P Port Isabel, TX	1.0	1.0	775	$3,113	$4.02	14d	1	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $185,000 Active 127 DOM
2. 2026-06-17
   days on market $185,000 Active 126 DOM
3. 2026-06-16
   days on market $185,000 Active 125 DOM
4. 2026-06-15
   days on market $185,000 Active 124 DOM
5. 2026-06-14
   days on market $185,000 Active 122 DOM
6. 2026-06-13
   days on market $185,000 Active 121 DOM
7. 2026-06-10
   days on market $185,000 Active 119 DOM
8. 2026-06-09
   days on market $185,000 Active 118 DOM
9. 2026-06-09
   days on market $185,000 Active 117 DOM
10. 2026-06-07
    days on market $185,000 Active 116 DOM
11. 2026-06-03
    days on market $185,000 Active 112 DOM
12. 2026-06-02
    days on market $185,000 Active 111 DOM
13. 2026-06-01
    days on market $185,000 Active 110 DOM
14. 2026-05-31
    days on market $185,000 Active 109 DOM
15. 2026-05-30
    days on market $185,000 Active 108 DOM
16. 2026-02-11
    listed $189,000 Active 484-char remark

    Show marketing remark (484 chars)

    If you are looking a peaceful and serene area to live, this is the place!! This charming waterfront condo offers beautiful sunset views, access to a boat slip just a few steps from your door, an amazing, community pool with brick grills available perfect for your family gatherings, the private access gives you security and peace of mind in your daily life. A private storage unit is included to secure all your outdoor gear. Don't look further, schedule your private showing today!!

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 23 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: $24,735
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$6,044
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − HOA: −$10,200
• − Depreciation: −$5,382
• Taxable loss: −$13,986
• Est. tax savings @ 24.0%: +$3,357
• After-tax cash flow: $-7,763/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 waterfront condo offers a good condition with a peaceful and serene location. It has a community pool and dock access, making it ideal for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Well-maintained landscaping enhances curb appeal and property value
• Both Pool cleaning and maintenance — A clean pool is a key amenity for both resale and rental

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Well-maintained landscaping enhances curb appeal and property value ↑
• Both Pool cleaning and maintenance — A clean pool is a key amenity for both resale and rental ↑

ⓘ 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)

No district data.

Livability — Port Isabel

• Score: 75/100
• State rank: #157
• US rank: #4282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Isabel, TX
• Population (ZIP): 10,231

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 35% Two or more races 19%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 18% · Canada
• Languages at home: 57% English-only · Spanish 42%

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: ▼ -61.69%
• Current HPI: 222.9501
• 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

1 event — show timeline

• 2026-02-11 Listed $189,000 RGVMLS