107 E Swordfish Unit 202 (D) · South Padre Island, TX 78597

$284,900

2 bd · 2.0 ba · 924 sqft · Townhouse · 136 Days on market

Built 2003 Good condition 1,250 sqft lot $308/sqft · 5% below area Est $300k · 5% under

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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).

• Cash flow +12.6/30.0
• ARV discount +9.8/15.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• 1% rule +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the vibrant nightlife of South Padre Island right at your doorstep with this centrally located two-bedroom, two-bathroom condo. Blue Marlin Supermarket, Jim's Pier, Tequila Sunset Bar, Louie's Backyard and so much more are all within proximity. Step outside onto the outdoor patio off the primary bedroom and take in the island breeze. This condo comes fully furnished, including all decorations, stainless steel kitchen appliances, and a washer and dryer. Everything you need for a comfortable stay is already included. The property boasts a well-appointed kitchen with granite countertops, a glass backsplash, and ceramic wood-look flooring throughout. Whether you're looking for a vacation home, investment property, or a permanent residence, this condo has everything you need. Don't miss out on this opportunity to own a piece of paradise on South Padre Island.

Key facts

• Granite countertops
• Outdoor patio
• Fully furnished

Tags

• OUTDOOR PATIO
• FULLY FURNISHED
• GRANITE COUNTERTOPS
• CERAMIC WOOD-LOOK FLOORING

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-461 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (23.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (14.0% below list).
• Recommended offer: $218k (23.4% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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: 580 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 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 $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 136 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 14895% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,255 (23.4% 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. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 23% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (median comp): $300,426
• List price: $284,900
• Delta: -5.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 E Swordfish St E #3	0.03mi	2/2.0	959 (+4%)	21mo	$360,000	$375	74
106 E Atol St #1	0.40mi	2/2.0	882 (-4%)	3mo	$310,000	$351	71
3113 Laguna Blvd #204	0.27mi	2/2.0	896 (-3%)	15mo	$364,900	$407	70
113 E Retama St #10	0.42mi	2/2.0	850 (-8%)	0mo	$315,000	$371	67
107 Bahama #7	0.33mi	2/2.0	884 (-4%)	20mo	$295,000	$334	61
107 E Pike St #2	0.15mi	2/2.0	800 (-13%)	13mo	$329,000	$411	60
3608 Gulf Blvd Unit A2	0.46mi	2/2.0	986 (+7%)	9mo	$490,000	$497	60
115 E Marlin St Unit A	0.27mi	2/2.0	1,055 (+14%)	20mo	$449,000	$426	47
117 E Marlin St Unit A	0.27mi	2/2.0	1,055 (+14%)	20mo	$449,000	$426	47

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: -28.2%
• Equity multiple: 0.06×
• Total profit: $-75,201
• Equity at exit: $42,480

10-year hold

• IRR: -26.6%
• Equity multiple: -0.28×
• Total profit: $-102,041
• Equity at exit: $24,633

Cash invested: $79,772 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 54 active · 11 under contract
• Months of supply: 64.8 mo (2%/mo absorbed)
• Median asking: $352,000 ($370/sqft)
• Median days on market: 131 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: -12.2% 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: 9.7×

Monthly cashflow live

• Estimated rent: $2,449 high
• Mortgage (P&I): −$1,494
• Tax est. 1.5%: −$356 /mo · $4,274/yr
• Insurance: −$119
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-461

Break-even live

Break-even rent $3,032

Max offer price $218,255

Occupancy floor —

Sensitivity live

Price	-10% $-264	-5% $-362	+0% $-461	+5% $-559	+10% $-657
Rent	-10% $-654	-5% $-557	+0% $-461	+5% $-364	+10% $-267
Rate	-1.0pp $-317	-0.5pp $-388	base $-461	+0.5pp $-534	+1.0pp $-609

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: $71,225
• Closing costs: $8,547
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 E Amberjack St Unit 1 South Padre Island, TX	2.0	2.0	856	$2,660	$3.11	70d	1	0.04mi
126 E Swordfish St Unit 4 South Padre Island, TX	2.0	2.0	900	$2,670	$2.97	93d	1	0.10mi
126 E Swordfish St Unit 1 South Padre Island, TX	2.0	2.0	900	$2,600	$2.89	93d	1	0.10mi
123 E Dolphin St Unit 2 South Padre Island, TX	2.0	1.0	995	$2,200	$2.21	93d	1	0.14mi
118 E Campeche St Unit 1515050P South Padre Island, TX	2.0	2.0	990	$4,170	$4.21	70d	1	0.32mi
114 E Atol St #4 South Padre Island, TX	2.0	2.0	853	$2,100	$2.46	93d	1	0.43mi
109 E Retama St South Padre Island, TX	2.0	2.0	885	$2,100	$2.37	93d	1	0.45mi
111 W Sunny Isle Dr Unit 201 South Padre Island, TX	2.0	2.0	928	$2,500	$2.69	63d	1	0.57mi
113 W Sunny Isle Dr Unit 2 South Padre Island, TX	2.0	1.0	750	$2,300	$3.07	63d	1	0.58mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	63d	1	0.62mi
210 W Gardenia St Unit 12 South Padre Island, TX	2.0	1.0	684	$2,450	$3.58	63d	1	0.80mi
210 W Gardenia St Unit 11 South Padre Island, TX	2.0	1.0	684	$2,000	$2.92	93d	1	0.80mi
109 E Venus Ln Unit 2 South Padre Island, TX	1.0	1.0	750	$1,250	$1.67	70d	1	0.96mi
109 E Venus Ln Unit 3 South Padre Island, TX	1.0	1.0	750	$1,150	$1.53	70d	1	0.96mi
107 E Venus Ln Unit 1 South Padre Island, TX	2.0	1.0	750	$1,275	$1.70	63d	1	0.98mi
101 E Capricorn Dr Unit B South Padre Island, TX	2.0	2.0	800	$2,300	$2.88	93d	1	1.19mi
404 Padre Blvd Unit 1507754P South Padre Island, TX	1.0	2.0	667	$3,382	$5.07	63d	1	1.20mi
106 W Capricorn Dr South Padre Island, TX	2.0	2.0	1084	$2,200	$2.03	93d	1	1.23mi
103 E Aries Dr #3 South Padre Island, TX	2.0	2.0	1021	$2,200	$2.15	93d	1	1.25mi
102 W Aries Dr Unit A South Padre Island, TX	2.0	2.0	1084	$2,150	$1.98	63d	1	1.29mi
111 E Polaris Dr #7 South Padre Island, TX	2.0	2.0	882	$1,800	$2.04	93d	1	1.30mi

Listing history 50 events

1. 2026-08-08
   days on market $284,900 Active 136 DOM
2. 2026-08-07
   days on market $284,900 Active 135 DOM
3. 2026-08-06
   days on market $284,900 Active 134 DOM
4. 2026-08-05
   days on market $284,900 Active 133 DOM
5. 2026-08-04
   days on market $284,900 Active 132 DOM
6. 2026-08-03
   days on market $284,900 Active 131 DOM
7. 2026-07-31
   days on market $284,900 Active 128 DOM
8. 2026-07-29
   pricedays on market $284,900 Active 126 DOM
9. 2026-07-27
   days on market $289,900 Active 124 DOM
10. 2026-07-25
    days on market $289,900 Active 122 DOM
11. 2026-07-23
    days on market $289,900 Active 120 DOM
12. 2026-07-22
    days on market $289,900 Active 119 DOM
13. 2026-07-21
    days on market $289,900 Active 118 DOM
14. 2026-07-18
    days on market $289,900 Active 115 DOM
15. 2026-07-16
    days on market $289,900 Active 113 DOM
16. 2026-07-16
    days on market $289,900 Active 112 DOM
17. 2026-07-14
    days on market $289,900 Active 111 DOM
18. 2026-07-13
    days on market $289,900 Active 110 DOM
19. 2026-07-12
    days on market $289,900 Active 109 DOM
20. 2026-07-11
    days on market $289,900 Active 108 DOM
21. 2026-07-10
    days on market $289,900 Active 107 DOM
22. 2026-07-09
    days on market $289,900 Active 106 DOM
23. 2026-07-08
    days on market $289,900 Active 105 DOM
24. 2026-07-07
    days on market $289,900 Active 104 DOM
25. 2026-07-06
    days on market $289,900 Active 103 DOM
26. 2026-07-05
    days on market $289,900 Active 102 DOM
27. 2026-07-04
    days on market $289,900 Active 101 DOM
28. 2026-07-03
    days on market $289,900 Active 100 DOM
29. 2026-07-02
    days on market $289,900 Active 99 DOM
30. 2026-07-01
    days on market $289,900 Active 98 DOM
31. 2026-06-30
    days on market $289,900 Active 97 DOM
32. 2026-06-29
    days on market $289,900 Active 96 DOM
33. 2026-06-28
    days on market $289,900 Active 95 DOM
34. 2026-06-28
    days on market $289,900 Active 94 DOM
35. 2026-06-27
    days on market $289,900 Active 93 DOM
36. 2026-06-25
    days on market $289,900 Active 91 DOM
37. 2026-06-23
    days on market $289,900 Active 89 DOM
38. 2026-06-22
    days on market $289,900 Active 88 DOM
39. 2026-06-18
    days on market $289,900 Active 85 DOM
40. 2026-06-17
    days on market $289,900 Active 84 DOM
41. 2026-06-16
    days on market $289,900 Active 83 DOM
42. 2026-06-15
    days on market $289,900 Active 82 DOM
43. 2026-06-14
    days on market $289,900 Active 80 DOM
44. 2026-06-13
    days on market $289,900 Active 79 DOM
45. 2026-06-10
    days on market $289,900 Active 77 DOM
46. 2026-06-09
    days on market $289,900 Active 76 DOM
47. 2026-06-09
    days on market $289,900 Active 75 DOM
48. 2026-06-07
    days on market $289,900 Active 74 DOM
49. 2026-06-03
    days on market $289,900 Active 70 DOM
50. 2026-06-02
    days on market $289,900 Active 69 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 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: $29,390
• − Mortgage interest: −$15,959
• − Property taxes: −$4,274
• − Insurance: −$6,543
• − Repairs & maintenance: −$2,351
• − Management: −$2,351
• − Depreciation: −$8,288
• Taxable loss: −$10,376
• Est. tax savings @ 24.0%: +$2,490
• After-tax cash flow: $-3,037/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 $4,620–$13,860 screening

This two-bedroom, two-bathroom condo is in good condition with cosmetic updates needed. It's located in a desirable area with easy access to local amenities.

Value-add opportunities

• Resale Painting the exterior walls — Fresh paint can enhance curb appeal and property value ↑
• Rental Landscaping improvements — Well-maintained landscaping can attract more tenants ↑

ⓘ 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

-99.4% since first listed

9 events — show timeline

• 2026-04-29 Listed for Rent $1,900 SPIBOR
• 2026-04-29 Rental Removed $1,900 MCALLENMLS
• 2026-04-29 Listed $299,900 SPIBOR
• 2026-03-26 Listed for Rent $1,900 MCALLENMLS
• 2026-03-25 Listed $299,900 MCALLENMLS
• 2024-06-14 Price Changed $299,900 SPIBOR
• 2024-06-14 Price Changed $299,900 MCALLENMLS
• 2024-03-07 Listed $304,900 MCALLENMLS
• 2024-03-05 Listed $304,900 SPIBOR