900 Station Unit A13/14 · Port Aransas, TX 78373

$435,000

3 bd · 2.0 ba · 998 sqft · Condo · 177 Days on market

Built 1975 Good condition $436/sqft · 18% below area Est $530k · 18% under $815/mo HOA · 28% of rent ↓ 3% since listing

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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 +15.0/15.0
• Schools +6.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for that perfect vacation/money maker? Look no further! This beautiful, fully furnished 3 bedroom, 2 bathroom condo is the perfect home for a weekend getaway or an extra income maker. Recent updates and all appliances convey. Owners and renters have access to boat slips, a fishing deck, and a sizable community pool. Bay Tree is located right in the heart of Old Town so you're able to walk to all the restaurants & shops or just a quick golf cart ride to the beach. Assigned large 2-car carport to fit your car, golf cart & even a small boat! The complex has an onsite rental desk for easy lock & leave ownership. Whether you’re after relaxing weekends, some serious fishing, or a fantastic income-producer, this condo delivers on all fronts. Owners golf cart is negotiable!

Key facts

• Boat slips
• Onsite rental desk
• Community pool

Tags

• FULLY FURNISHED
• BOAT SLIPS
• FISHING DECK
• COMMUNITY POOL
• ONSITE RENTAL DESK
• WALK TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $435k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (49.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (31.9% below list).
• Recommended offer: $221k (49.3% below list) — sets the bar for cash-flow.
• Cap rate 2.2% 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: 1107 active listings in the ZIP; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 39% of the median local income ($90k/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 $3k of loan paydown is wiped out by about $13k 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 177 days — a 12% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $220,531 (49.3% 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 177 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 0.68% ✗
• Cap rate: 2.20%
• Cash-on-cash: -14.60%
• DSCR: 0.35
• GRM: 12.2

CMA / ARV

• ARV (median comp): $530,138
• List price: $435,000
• Delta: -17.95%
• 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
900 N Station St Unit B15/16	0.00mi	2/2.0 (-1)	998 (0%)	2mo	$425,000	$426	94
1000 N Station #216	0.11mi	2/2.0 (-1)	1,224 (+23%)	0mo	$439,000	$359	65
1117 S 9th St #602	1.23mi	2/2.0 (-1)	1,015 (+2%)	3mo	$329,900	$325	55
1419 S 11th St #244	1.44mi	2/2.0 (-1)	1,028 (+3%)	1mo	$499,900	$486	54
1421 South 11th St #216	1.44mi	2/2.5 (-1)	1,027 (+3%)	7mo	$370,000	$360	48
318 W Cotter Ave #1	0.45mi	2/1.5 (-1)	780 (-22%)	1mo	$789,000	$1,012	46
306 Dunesway	1.44mi	2/2.0 (-1)	1,056 (+6%)	5mo	$584,000	$553	46
1129 S Eleventh St #12	1.29mi	3/2.0	1,106 (+11%)	2mo	$275,000	$249	45
230 Cut Off Rd #205	0.77mi	2/2.0 (-1)	1,093 (+10%)	2mo	$330,000	$302	42
1107 E Eleventh St Unit H-60	1.32mi	3/2.0	1,176 (+18%)	0mo	$459,000	$390	40
1107 11th St E #33	1.26mi	3/2.0	1,176 (+18%)	3mo	$419,000	$356	38
201 Nautilus St	1.28mi	2/2.0 (-1)	1,185 (+19%)	7mo	$525,000	$443	29

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: -43.9%
• Equity multiple: -0.35×
• Total profit: $-164,342
• Equity at exit: $64,860

10-year hold

• IRR: -76.2%
• Equity multiple: -1.15×
• Total profit: $-262,443
• Equity at exit: $37,611

Cash invested: $121,800 (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: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78373

• Active inventory: 1107
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,961 medium
• Mortgage (P&I): −$2,281
• Tax est. 1.5%: −$544 /mo · $6,525/yr
• Insurance: −$181
• HOA: −$815
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $-1,482

Break-even live

Break-even rent $4,837

Max offer price $220,531

Occupancy floor —

Sensitivity live

Price	-10% $-1,182	-5% $-1,332	+0% $-1,482	+5% $-1,632	+10% $-1,783
Rent	-10% $-1,716	-5% $-1,599	+0% $-1,482	+5% $-1,365	+10% $-1,248
Rate	-1.0pp $-1,263	-0.5pp $-1,372	base $-1,482	+0.5pp $-1,595	+1.0pp $-1,710

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: $108,750
• Closing costs: $13,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $815/mo · $9,780/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $435,000 Active 177 DOM
2. 2026-08-07
   days on market $435,000 Active 176 DOM
3. 2026-08-06
   days on market $435,000 Active 175 DOM
4. 2026-08-05
   days on market $435,000 Active 174 DOM
5. 2026-08-04
   days on market $435,000 Active 173 DOM
6. 2026-08-03
   days on market $435,000 Active 172 DOM
7. 2026-07-31
   days on market $435,000 Active 169 DOM
8. 2026-07-29
   days on market $435,000 Active 167 DOM
9. 2026-07-27
   days on market $435,000 Active 165 DOM
10. 2026-07-25
    days on market $435,000 Active 163 DOM
11. 2026-07-24
    days on market $435,000 Active 162 DOM
12. 2026-07-23
    days on market $435,000 Active 161 DOM
13. 2026-07-22
    days on market $435,000 Active 160 DOM
14. 2026-07-21
    days on market $435,000 Active 159 DOM
15. 2026-07-18
    days on market $435,000 Active 156 DOM
16. 2026-07-16
    days on market $435,000 Active 154 DOM
17. 2026-07-16
    days on market $435,000 Active 153 DOM
18. 2026-07-14
    days on market $435,000 Active 152 DOM
19. 2026-07-13
    days on market $435,000 Active 151 DOM
20. 2026-07-12
    days on market $435,000 Active 150 DOM
21. 2026-07-11
    days on market $435,000 Active 149 DOM
22. 2026-07-10
    days on market $435,000 Active 148 DOM
23. 2026-07-09
    days on market $435,000 Active 147 DOM
24. 2026-07-08
    days on market $435,000 Active 146 DOM
25. 2026-07-07
    days on market $435,000 Active 145 DOM
26. 2026-07-06
    days on market $435,000 Active 144 DOM
27. 2026-07-05
    days on market $435,000 Active 143 DOM
28. 2026-07-04
    days on market $435,000 Active 142 DOM
29. 2026-07-03
    days on market $435,000 Active 141 DOM
30. 2026-07-02
    days on market $435,000 Active 140 DOM
31. 2026-07-01
    days on market $435,000 Active 139 DOM
32. 2026-06-30
    days on market $435,000 Active 138 DOM
33. 2026-06-29
    days on market $435,000 Active 137 DOM
34. 2026-06-28
    days on market $435,000 Active 136 DOM
35. 2026-06-28
    days on market $435,000 Active 135 DOM
36. 2026-06-27
    days on market $435,000 Active 134 DOM
37. 2026-06-25
    days on market $435,000 Active 132 DOM
38. 2026-06-23
    days on market $435,000 Active 130 DOM
39. 2026-06-21
    days on market $435,000 Active 129 DOM
40. 2026-06-18
    days on market $435,000 Active 126 DOM
41. 2026-06-17
    days on market $435,000 Active 125 DOM
42. 2026-06-16
    days on market $435,000 Active 124 DOM
43. 2026-06-15
    days on market $435,000 Active 123 DOM
44. 2026-06-14
    days on market $435,000 Active 121 DOM
45. 2026-06-13
    days on market $435,000 Active 120 DOM
46. 2026-06-10
    days on market $435,000 Active 118 DOM
47. 2026-06-09
    days on market $435,000 Active 117 DOM
48. 2026-06-08
    days on market $435,000 Active 116 DOM
49. 2026-06-07
    days on market $435,000 Active 115 DOM
50. 2026-06-03
    days on market $435,000 Active 111 DOM

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

Taxation est. · year 1

• Rental income: $35,530
• − Mortgage interest: −$24,367
• − Property taxes: −$6,525
• − Insurance: −$2,175
• − Repairs & maintenance: −$2,842
• − Management: −$2,842
• − HOA: −$9,780
• − Depreciation: −$12,655
• Taxable loss: −$25,656
• Est. tax savings @ 24.0%: +$6,158
• After-tax cash flow: $-11,628/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 $4,990–$14,970 screening

This fully furnished 3-bedroom, 2-bathroom condo is in excellent condition with recent updates and all appliances. It's located in a prime location with access to amenities and a great rental opportunity.

Value-add opportunities

• Both Upgrade window treatments — Enhances curb appeal and interior aesthetics. ↑
• Both Install smart home devices — Improves convenience and energy efficiency. ↑
• Both Add smart thermostat — Saves energy and improves comfort. ↑
• Both Install smart locks — Enhances security and convenience for both owners and 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.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Olsen El C- TX #742/4,322 Nat'l #11,263/41,679 Middle Brundrett Middle B+ TX #134/1,662 Nat'l #1,545/14,009 High Port Aransas H S B+ TX #82/1,632 Nat'l #1,629/17,239

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

C Composite livability gradescore 67/100

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
• County: Nueces · 418,037 people
• Metro: Corpus Christi, TX
• Population (ZIP): 3,314
• Household income: $90,000
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 20% of renters

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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%

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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%

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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

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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

-3.5% since first listed

13 events — show timeline

• 2026-03-23 Price Changed $444,110 CBMLS
• 2026-02-12 Listed $449,000 CBMLS
• 2026-01-13 Price Changed $449,000 CBMLS
• 2025-11-18 Price Changed $456,505 CBMLS
• 2025-10-08 Price Changed $457,500 CBMLS
• 2025-09-17 Price Changed $460,500 CBMLS
• 2025-08-07 Price Changed $462,000 CBMLS
• 2025-07-16 Listed $467,000 CBMLS
• 2022-02-16 Delisted — CBMLS
• 2022-02-16 Sold (MLS) — CBMLS
• 2022-02-13 Pending — CBMLS
• 2022-02-06 Contingent — CBMLS
• 2022-01-26 Listed $460,000 CBMLS