6410 Padre Blvd #107 · South Padre Island, TX 78597

$285,000

2 bd · 2.0 ba · 1,212 sqft · Condo · 463 Days on market

Built 2005 Good condition $235/sqft · 41% below area Est $480k · 41% under $623/mo HOA · 28% of rent ↓ 10% since listing

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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 +15.0/15.0
• Condition / age +4.0/5.0
• Cash flow +3.9/30.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Our Las Verandas condo rentals are located at 6410 Padre Blvd. in the Gulf side of South Padre Island, next to Holiday Inn Express. This 2 bedroom / 2 bath condo is in a gated complex with a beautiful pool and hot tub in a middle of a tropical landscaped area.

Key facts

• Gated complex
• Hot tub
• Beautiful pool

Tags

• GATED COMPLEX
• BEAUTIFUL POOL
• HOT TUB
• TROPICAL LANDSCAPED AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-811 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (41.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (20.9% below list).
• Recommended offer: $168k (41.2% below list) — sets the bar for cash-flow.
• Cap rate 2.9% vs local median 1.9% 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: 628 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• This rent runs 40% 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 $2k of loan paydown is wiped out by about $9k 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 463 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: moderate flood risk; 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 $167,582 (41.2% 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 463 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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?
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 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: 0.79% ✗
• Cap rate: 2.88%
• Cash-on-cash: -12.20%
• DSCR: 0.46
• GRM: 10.5

CMA / ARV

• ARV (median comp): $480,264
• List price: $285,000
• Delta: -40.66%
• 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
201 W Oleander St #6	1.41mi	2/2.0	1,166 (-4%)	0mo	$270,000	$232	58
6300 Padre Blvd #871	0.14mi	3/3.0 (+1)	1,399 (+15%)	9mo	$470,000	$336	52
111 E Morningside Dr #209	0.50mi	2/2.0	1,040 (-14%)	3mo	$338,000	$325	50
111 E Venus Ln #3	1.12mi	3/2.0 (+1)	1,109 (-8%)	3mo	$355,000	$320	44
107 E Georgia Ruth Dr	0.66mi	2/1.5	1,042 (-14%)	1mo	$495,000	$475	43
124 E Mars St Unit A	0.98mi	2/2.0	1,070 (-12%)	4mo	$399,900	$374	42
6101 Padre Blvd #104	0.39mi	3/3.5 (+1)	1,512 (+25%)	8mo	$950,000	$628	39
5705 Laguna Cir S	0.47mi	3/3.0 (+1)	1,500 (+24%)	12mo	$999,000	$666	34
110 Verna Jean Dr #110	0.69mi	2/2.0	1,040 (-14%)	13mo	$360,000	$346	33
123 E Saturn Ln Unit D-4	1.18mi	2/2.0	1,021 (-16%)	9mo	$350,000	$343	32
5101 Laguna Blvd #202	0.76mi	3/2.0 (+1)	1,464 (+21%)	3mo	$720,000	$492	32
3900 Gulf Blvd #503	1.45mi	3/3.0 (+1)	1,431 (+18%)	3mo	$715,000	$500	28

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: -38.6%
• Equity multiple: -0.22×
• Total profit: $-97,447
• Equity at exit: $42,494

10-year hold

• IRR: -56.7%
• Equity multiple: -0.88×
• Total profit: $-149,710
• Equity at exit: $24,642

Cash invested: $79,800 (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: 2 active · 1 under contract
• Median asking: $345,000 ($254/sqft)
• Median days on market: 155 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +56.0% 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: 628
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,255 high
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$623
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $-811

Break-even live

Break-even rent $3,282

Max offer price $167,582

Occupancy floor —

Sensitivity live

Price	-10% $-614	-5% $-713	+0% $-811	+5% $-910	+10% $-1,008
Rent	-10% $-990	-5% $-901	+0% $-811	+5% $-722	+10% $-633
Rate	-1.0pp $-668	-0.5pp $-739	base $-811	+0.5pp $-885	+1.0pp $-960

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: $71,250
• Closing costs: $8,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6410 Padre Blvd South Padre Island, TX	2.0–3.0	2.0	1310	$2,200	$1.68	139d	2	0.02mi
6410 Padre Blvd South Padre Island, TX	2.0–3.0	2.0	1304	$2,000	$1.53	140d	3	0.02mi
6410 Padre Blvd South Padre Island, TX	3.0	2.0	1402	$2,700	$1.93	117d	1	0.03mi
6201 Padre Blvd Unit 102 South Padre Island, TX	2.0	2.0	980	$2,200	$2.24	109d	1	0.32mi
120 E Parade Dr Unit 1 South Padre Island, TX	2.0	1.0	750	$2,100	$2.80	0d	1	0.34mi
104 E Parade Dr #19 South Padre Island, TX	2.0	2.5	1100	$2,200	$2.00	0d	1	0.37mi
115 E Coronado Dr South Padre Island, TX	2.0	1.5	843	$2,200	$2.61	109d	1	0.42mi
111 E Polaris Dr #7 South Padre Island, TX	2.0	2.0	882	$1,800	$2.04	139d	1	0.77mi
102 W Aries Dr Unit A South Padre Island, TX	2.0	2.0	1084	$2,150	$1.98	109d	1	0.80mi
103 E Aries Dr #3 South Padre Island, TX	2.0	2.0	1021	$2,200	$2.15	139d	1	0.83mi
106 W Capricorn Dr South Padre Island, TX	2.0	2.0	1084	$2,200	$2.03	139d	1	0.86mi
4901 Laguna Blvd #304 South Padre Island, TX	2.0	2.0	979	$2,100	$2.15	0d	1	0.87mi
101 E Capricorn Dr Unit B South Padre Island, TX	2.0	2.0	800	$2,500	$3.12	0d	1	0.88mi
109 E Venus Ln Unit 2 South Padre Island, TX	1.0	1.0	750	$1,450	$1.93	6d	1	1.11mi
109 E Venus Ln Unit 3 South Padre Island, TX	1.0	1.0	750	$1,150	$1.53	117d	1	1.11mi
107 E Venus Ln Unit 1 South Padre Island, TX	2.0	1.0	750	$1,275	$1.70	109d	1	1.11mi
132 E Gardenia St Unit 1515054P South Padre Island, TX	2.0	2.0	1162	$4,746	$4.08	109d	1	1.30mi
102 E Gardenia St #8 South Padre Island, TX	3.0	2.0	1355	$2,895	$2.14	6d	1	1.30mi
3900 Gulf Blvd #602 South Padre Island, TX	2.0	2.0	1167	$2,600	$2.23	139d	1	1.43mi
115 E Lantana St South Padre Island, TX	2.0	2.0	1168	$2,500	$2.14	6d	1	1.45mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	109d	1	1.45mi

HOA detail $623/mo · $7,476/yr condo

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

Listing history 50 events

1. 2026-09-24
   days on market $285,000 Active 463 DOM
2. 2026-09-23
   days on market $285,000 Active 462 DOM
3. 2026-09-22
   days on market $285,000 Active 461 DOM
4. 2026-09-21
   days on market $285,000 Active 460 DOM
5. 2026-09-20
   days on market $285,000 Active 459 DOM
6. 2026-09-18
   days on market $285,000 Active 457 DOM
7. 2026-09-17
   days on market $285,000 Active 456 DOM
8. 2026-09-16
   days on market $285,000 Active 455 DOM
9. 2026-09-15
   days on market $285,000 Active 454 DOM
10. 2026-09-15
    days on market $285,000 Active 453 DOM
11. 2026-09-13
    days on market $285,000 Active 452 DOM
12. 2026-09-12
    days on market $285,000 Active 451 DOM
13. 2026-09-11
    days on market $285,000 Active 450 DOM
14. 2026-09-05
    days on market $285,000 Active 444 DOM
15. 2026-09-04
    days on market $285,000 Active 443 DOM
16. 2026-09-03
    days on market $285,000 Active 442 DOM
17. 2026-08-31
    days on market $285,000 Active 439 DOM
18. 2026-08-30
    days on market $285,000 Active 438 DOM
19. 2026-08-29
    days on market $285,000 Active 437 DOM
20. 2026-08-28
    days on market $285,000 Active 436 DOM
21. 2026-08-27
    days on market $285,000 Active 435 DOM
22. 2026-08-26
    days on market $285,000 Active 434 DOM
23. 2026-08-25
    days on market $285,000 Active 433 DOM
24. 2026-08-24
    days on market $285,000 Active 432 DOM
25. 2026-08-23
    days on market $285,000 Active 431 DOM
26. 2026-08-22
    days on market $285,000 Active 430 DOM
27. 2026-08-21
    days on market $285,000 Active 429 DOM
28. 2026-08-20
    days on market $285,000 Active 428 DOM
29. 2026-08-19
    days on market $285,000 Active 427 DOM
30. 2026-08-18
    days on market $285,000 Active 426 DOM
31. 2026-08-17
    days on market $285,000 Active 425 DOM
32. 2026-08-16
    days on market $285,000 Active 424 DOM
33. 2026-08-15
    days on market $285,000 Active 423 DOM
34. 2026-08-14
    days on market $285,000 Active 422 DOM
35. 2026-08-13
    days on market $285,000 Active 421 DOM
36. 2026-08-12
    days on market $285,000 Active 420 DOM
37. 2026-08-11
    days on market $285,000 Active 419 DOM
38. 2026-08-10
    days on market $285,000 Active 418 DOM
39. 2026-08-09
    days on market $285,000 Active 417 DOM
40. 2026-08-08
    days on market $285,000 Active 416 DOM
41. 2026-08-07
    days on market $285,000 Active 415 DOM
42. 2026-08-06
    days on market $285,000 Active 414 DOM
43. 2026-08-05
    days on market $285,000 Active 413 DOM
44. 2026-08-04
    days on market $285,000 Active 412 DOM
45. 2026-08-03
    days on market $285,000 Active 411 DOM
46. 2026-07-31
    days on market $285,000 Active 408 DOM
47. 2026-07-29
    days on market $285,000 Active 406 DOM
48. 2026-07-27
    days on market $285,000 Active 404 DOM
49. 2026-07-25
    days on market $285,000 Active 402 DOM
50. 2026-07-23
    days on market $285,000 Active 400 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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $27,055
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − HOA: −$7,476
• − Depreciation: −$8,291
• Taxable loss: −$14,705
• Est. tax savings @ 24.0%: +$3,529
• After-tax cash flow: $-6,208/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 $6,060–$18,180 screening

This Las Verandas condo is in good condition with cosmetic updates needed to enhance its curb appeal and functionality. The property is located in a gated complex with a beautiful pool and hot tub, making it an attractive rental or resale option.

Repairs flagged

• Minor kitchen countertops — Worn appearance
• Minor bathroom tiles — Worn appearance
• Minor kitchen cabinets — Worn appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace worn kitchen countertops — New countertops improve functionality and appearance. ↑
• Both Replace worn bathroom tiles — New tiles enhance functionality and appearance. ↑
• Rental Clean HVAC filters — Clean filters improve air quality and efficiency, attracting 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.

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

Price history

-9.5% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $285,000 SPIBOR
• 2025-08-26 Price Changed $305,000 SPIBOR
• 2025-06-18 Listed $315,000 SPIBOR