230 Cut Off #126 · Port Aransas, TX 78373

$299,900

2 bd · 2.0 ba · 1,093 sqft · Townhouse public records · 256 Days on market

Built 1983 1,289 sqft lot $274/sqft · 14% below area Est $349k · 14% under $559/mo HOA · 18% of rent

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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).

• ARV discount +13.9/15.0
• Cash flow +8.2/30.0
• 1% rule +5.1/10.0
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST REDUCED TO A FANTASTIC PRICE. Great rental income for this 2-bedroom and 2-bathroom, ground floor unit at Aransas Harbors. This open concept, fully furnished condo is what you have been looking for. Ready to use yourself or ready to rent. Intracoastal Waterway is out your backyard where you can watch all the ships go by. Granite countertops, TVs, and stainless-steel kitchen appliances. Short term rentals are allowed.

Key facts

• Ground floor unit
• $559 HOA
• Community pool

Tags

• GROUND FLOOR UNIT
• FULLY FURNISHED CONDO
• SHORT TERM RENTALS ALLOWED
• FREE GOLF CART RENTAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $300k.

Deal economics

• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (16.5% below list).
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $250k (16.5% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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: 1024 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

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.
• 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 256 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $250,296 (16.5% 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 256 days. Have you received any prior offers? Is the seller open to a 17% 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. 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 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?
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: 1.01% ✓
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 8.3

CMA / ARV

• ARV (median comp): $349,224
• List price: $299,900
• Delta: -14.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Cut Off Rd #205	0.00mi	2/2.0	1,093 (0%)	1mo	$330,000	$302	100
200 6th, Heritage Ln #3	0.14mi	2/2.0	1,111 (+2%)	21mo	$229,000	$206	73
230 Cut Off Rd, Aransas Hbrs #122	0.00mi	2/1.0	939 (-14%)	11mo	$239,000	$255	63
200 W Cotter Unit C1	0.46mi	2/2.0	1,230 (+12%)	10mo	$599,000	$487	49

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: -22.9%
• Equity multiple: 0.21×
• Total profit: $-66,066
• Equity at exit: $44,716

10-year hold

• IRR: -16.8%
• Equity multiple: 0.06×
• Total profit: $-78,871
• Equity at exit: $25,930

Cash invested: $83,972 (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 78373

• Active inventory: 1024
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,029 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$417 /mo · $5,002/yr
• Insurance: −$125
• HOA: −$559
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $-281

Break-even live

Break-even rent $3,384

Max offer price $250,296

Occupancy floor —

Sensitivity live

Price	-10% $-111	-5% $-196	+0% $-281	+5% $-366	+10% $-451
Rent	-10% $-520	-5% $-400	+0% $-281	+5% $-161	+10% $-42
Rate	-1.0pp $-130	-0.5pp $-205	base $-281	+0.5pp $-359	+1.0pp $-438

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 West Avenue C Unit B Port Aransas, TX	3.0	3.0	1427	$3,500	$2.45	46d	1	0.20mi
321 Seventh St Unit A Port Aransas, TX	2.0	1.0	1344	$2,775	$2.06	16d	1	0.32mi
321 Seventh St Unit B Port Aransas, TX	1.0	1.0	1344	$1,775	$1.32	16d	1	0.32mi
200 W Cotter Ave Port Aransas, TX	2.0	2.0	1230	$4,000	$3.25	46d	1	0.43mi

HOA detail

• Monthly dues: $559 · $6,708/yr
• Likely covers: water

Listing history 46 events

1. 2026-06-21
   days on market $299,900 Active 256 DOM
2. 2026-06-18
   days on market $299,900 Active 253 DOM
3. 2026-06-17
   days on market $299,900 Active 252 DOM
4. 2026-06-16
   days on market $299,900 Active 251 DOM
5. 2026-06-15
   days on market $299,900 Active 250 DOM
6. 2026-06-14
   days on market $299,900 Active 248 DOM
7. 2026-06-13
   days on market $299,900 Active 247 DOM
8. 2026-06-10
   days on market $299,900 Active 245 DOM
9. 2026-06-09
   days on market $299,900 Active 244 DOM
10. 2026-06-08
    days on market $299,900 Active 243 DOM
11. 2026-06-07
    days on market $299,900 Active 242 DOM
12. 2026-06-03
    days on market $299,900 Active 238 DOM
13. 2026-06-02
    days on market $299,900 Active 237 DOM
14. 2026-06-01
    days on market $299,900 Active 236 DOM
15. 2026-05-31
    days on market $299,900 Active 235 DOM
16. 2026-05-30
    days on market $299,900 Active 234 DOM
17. 2026-05-18
    price $299,900 425-char remark

    Show marketing remark (425 chars)

    JUST REDUCED TO A FANTASTIC PRICE. Great rental income for this 2-bedroom and 2-bathroom, ground floor unit at Aransas Harbors. This open concept, fully furnished condo is what you have been looking for. Ready to use yourself or ready to rent. Intracoastal Waterway is out your backyard where you can watch all the ships go by. Granite countertops, TVs, and stainless-steel kitchen appliances. Short term rentals are allowed.

18. 2026-02-04
    price $324,900 425-char remark

    Show marketing remark (425 chars)

    JUST REDUCED TO A FANTASTIC PRICE. Great rental income for this 2-bedroom and 2-bathroom, ground floor unit at Aransas Harbors. This open concept, fully furnished condo is what you have been looking for. Ready to use yourself or ready to rent. Intracoastal Waterway is out your backyard where you can watch all the ships go by. Granite countertops, TVs, and stainless-steel kitchen appliances. Short term rentals are allowed.

19. 2025-10-08
    listed $339,900 Active 425-char remark

    Show marketing remark (425 chars)

    JUST REDUCED TO A FANTASTIC PRICE. Great rental income for this 2-bedroom and 2-bathroom, ground floor unit at Aransas Harbors. This open concept, fully furnished condo is what you have been looking for. Ready to use yourself or ready to rent. Intracoastal Waterway is out your backyard where you can watch all the ships go by. Granite countertops, TVs, and stainless-steel kitchen appliances. Short term rentals are allowed.

20. 2025-04-07
    price $339,900
21. 2025-01-27
    status Active
22. 2025-01-27
    price $374,995
23. 2024-10-05
    listed $399,000 Active
24. 2021-08-23
    historical
25. 2021-08-20
    soldstatus Closed
26. 2021-08-19
    soldstatus
27. 2021-07-22
    status Pending
28. 2021-07-12
    historical Active Under Contract
29. 2021-07-08
    price $325,000
30. 2021-06-09
    listed $349,000 Active
31. 2019-09-26
    soldstatus
32. 2014-11-12
    soldstatus
33. 2014-11-11
    soldstatus
34. 2014-10-29
    listed $185,000
35. 2008-02-15
    listed $197,500
36. 2007-07-03
    soldstatus
37. 2007-07-02
    soldstatus
38. 2007-06-18
    listed $195,000
39. 2007-03-12
    soldstatus
40. 2007-03-08
    soldstatus
41. 2006-10-09
    listed $185,000
42. 2005-10-04
    soldstatus
43. 2004-08-10
    soldstatus
44. 2004-04-14
    listed $125,000
45. 2003-11-03
    listed $125,000
46. 2000-11-30
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $5,002 · $417/mo
• Projected year-2 tax: $5,488 · $457/mo
• Expected delta: +$486/yr (+$41/mo · 9.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $36,345
• − Mortgage interest: −$16,799
• − Property taxes: −$5,002
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,908
• − Management: −$2,908
• − HOA: −$6,708
• − Depreciation: −$8,724
• Taxable loss: −$8,203
• Est. tax savings @ 24.0%: +$1,969
• After-tax cash flow: $-1,401/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.

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

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
• Population (ZIP): 3,314

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

+139.9% since first listed

30 events — show timeline

• 2026-05-18 Price Changed $299,900 CBMLS
• 2026-02-04 Price Changed $324,900 CBMLS
• 2025-10-08 Listed $339,900 CBMLS
• 2025-04-07 Price Changed $339,900 CBMLS
• 2025-01-27 Relisted — CBMLS
• 2025-01-27 Price Changed $374,995 CBMLS
• 2024-10-05 Listed $399,000 CBMLS
• 2021-08-23 Delisted — CBMLS
• 2021-08-20 Sold (MLS) — CBMLS
• 2021-08-19 Sold (Public Records) — Public Records
• 2021-07-22 Pending — CBMLS
• 2021-07-12 Contingent — CBMLS
• 2021-07-08 Price Changed $325,000 CBMLS
• 2021-06-09 Listed $349,000 CBMLS
• 2019-09-26 Sold (Public Records) — Public Records
• 2014-11-12 Sold (Public Records) — Public Records
• 2014-11-11 Sold (MLS) — CBMLS
• 2014-10-29 Listed $185,000 CBMLS
• 2008-02-15 Listed $197,500 CBMLS
• 2007-07-03 Sold (Public Records) — Public Records
• 2007-07-02 Sold (MLS) — CBMLS
• 2007-06-18 Listed $195,000 CBMLS
• 2007-03-12 Sold (Public Records) — Public Records
• 2007-03-08 Sold (MLS) — CBMLS
• 2006-10-09 Listed $185,000 CBMLS
• 2005-10-04 Sold (Public Records) — Public Records
• 2004-08-10 Sold (Public Records) — Public Records
• 2004-04-14 Listed $125,000 CBMLS
• 2003-11-03 Listed $125,000 CBMLS
• 2000-11-30 Sold (Public Records) — Public Records

Property tax history

+5.3%/yr

Latest (2025): $5,002 · +2.2% YoY. Source: county tax records.