109 E Gardenia St #101 · South Padre Island, TX 78597

$204,900

1 bd · 1.0 ba · 640 sqft · Condo · 100 Days on market

Built 1984 Good condition $320/sqft · 12% below area Est $233k · 12% under $192/mo HOA · 11% of rent

---

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 +12.9/15.0
• Cash flow +7.8/30.0
• Condition / age +3.8/5.0
• 1% rule +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 109 E. Gardenia, your perfect coastal escape in the heart of South Padre Island! Whether you're searching for a relaxing vacation home, investment property, or full-time island living, this property offers the ideal blend of comfort and location. The open-concept layout creates a seamless flow between the living, dining, and kitchen areas—perfect for entertaining guests or unwinding after a day at the beach. Located just minutes from the beach, you'll love the convenience of quick access to sandy shores, local dining, and island attractions. Assigned parking spot. Just a half block to the beach. Located approximately 50 minutes to SpaceX. Located approximately 40 minutes to LNG Plant/Brownsville. Schedule your showing today!

Key facts

• $192 HOA
• Built 1984
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-297 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (14.9% below list).
• Recommended offer: $162k (20.9% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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: Garriga El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 443 students, 96% FRL); Port Isabel J H (math 10% / reading 29%, grade F, #1,445 of 1,662 statewide, top 88%, 425 students, 84% FRL); Port Isabel H S (math 17% / reading 42%, grade F, #1,112 of 1,632 statewide, top 70%, 606 students, 82% FRL) — zoned schools average 87% FRL vs 35% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 580 active listings in the ZIP; 8 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 31% 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 $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 100 days — a 9% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $48k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $161,993 (20.9% 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 100 days. Have you received any prior offers? Is the seller open to a 21% 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: 0.85% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.81%
• DSCR: 0.79
• GRM: 9.8

CMA / ARV

• ARV (median comp): $232,588
• List price: $204,900
• Delta: -11.90%
• 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
124 E Bahama #7	0.37mi	1/1.0	641 (+0%)	2mo	$235,000	$367	81
123 E Cora Lee Dr #302	0.80mi	1/1.0	640 (0%)	2mo	$215,000	$336	64
123 E Retama St #102	0.29mi	1/1.0	680 (+6%)	16mo	$205,000	$301	62
123 E Cora Lee Dr #301	0.80mi	1/1.0	640 (0%)	11mo	$227,000	$355	56
5400 Gulf Blvd #107	0.75mi	1/1.0	616 (-4%)	4mo	$382,500	$621	55
110 E Pompano St E #202	1.01mi	2/1.0 (+1)	656 (+2%)	3mo	$265,000	$404	53
2000 Gulf Blvd #704	1.10mi	1/1.0	591 (-8%)	2mo	$395,000	$668	51
102 E Tarpon St	0.97mi	2/1.0 (+1)	672 (+5%)	8mo	$525,000	$781	45
2000 Gulf Blvd #401	1.10mi	2/1.0 (+1)	678 (+6%)	11mo	$259,000	$382	41
110 E Pompano St Unit 210&410	1.02mi	2/2.0 (+1)	656 (+2%)	14mo	$275,000	$419	40
5600 Gulf Blvd #504	0.93mi	1/1.0	589 (-8%)	14mo	$399,000	$677	40
107 E Pike St #2	0.84mi	2/2.0 (+1)	800 (+25%)	13mo	$329,000	$411	20

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: -26.8%
• Equity multiple: 0.10×
• Total profit: $-51,903
• Equity at exit: $30,551

10-year hold

• IRR: -24.0%
• Equity multiple: -0.20×
• Total profit: $-68,762
• Equity at exit: $17,716

Cash invested: $57,372 (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: 1 active · 3 under contract
• Median asking: $225,000 ($331/sqft)
• Median days on market: 263 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +9.8% 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: 9.8×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,074/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$192
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-297

Break-even live

Break-even rent $2,120

Max offer price $161,993

Occupancy floor —

Sensitivity live

Price	-10% $-155	-5% $-226	+0% $-297	+5% $-367	+10% $-438
Rent	-10% $-434	-5% $-365	+0% $-297	+5% $-228	+10% $-159
Rate	-1.0pp $-193	-0.5pp $-244	base $-297	+0.5pp $-350	+1.0pp $-404

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: $51,225
• Closing costs: $6,147
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 E Venus Ln Unit 2 South Padre Island, TX	1.0	1.0	750	$1,250	$1.67	70d	1	0.21mi
109 E Venus Ln Unit 3 South Padre Island, TX	1.0	1.0	750	$1,150	$1.53	70d	1	0.21mi
210 W Gardenia St Unit 12 South Padre Island, TX	2.0	1.0	684	$2,450	$3.58	63d	1	0.23mi
210 W Gardenia St Unit 11 South Padre Island, TX	2.0	1.0	684	$2,000	$2.92	93d	1	0.23mi
107 E Venus Ln Unit 1 South Padre Island, TX	2.0	1.0	750	$1,275	$1.70	63d	1	0.25mi
127 E Atol St Unit A1 Villa T South Padre Island, TX	1.0	1.0	504	$2,500	$4.96	93d	1	0.37mi
125 E Morningside Dr Unit 302 South Padre Island, TX	2.0	2.0	680	$1,900	$2.79	63d	1	0.83mi
113 W Sunny Isle Dr Unit 2 South Padre Island, TX	2.0	1.0	750	$2,300	$3.07	63d	1	1.34mi

Property features AI

Finance

• Other: Property is part of Villa Isle condominiums
• HOA & community: Association: Villa IsleAnnual association fee of $2,300POA mandatory with $300 transfer feePOA contact available

Exterior

• Parking: No garageNo carportNo covered parkingNo designated parking spaces
• Utilities: Public waterInternet access
• Home design: Condominium unitNot new constructionLiving area reported by Cameron CADPaved road access
• Construction: Brick and stucco constructionSlab foundationFlat roofSlate roof
• Exterior features: Gulfside locationOther exterior features

Interior

• Kitchen: Electric water heaterNo conveying appliances
• Bedrooms: Living area(s) includes bedroom space
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioningThermostat (energy efficient feature)
• Interior features: Tile flooringDouble-pane windowsMini blindsBuilt-in featuresCountertops (other)
• Laundry & utility: Designated laundry area

HOA detail $192/mo · $2,304/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $204,900 Active 100 DOM
2. 2026-08-07
   days on market $204,900 Active 99 DOM
3. 2026-08-06
   days on market $204,900 Active 98 DOM
4. 2026-08-05
   days on market $204,900 Active 97 DOM
5. 2026-08-04
   days on market $204,900 Active 96 DOM
6. 2026-08-03
   days on market $204,900 Active 95 DOM
7. 2026-07-31
   days on market $204,900 Active 92 DOM
8. 2026-07-29
   days on market $204,900 Active 90 DOM
9. 2026-07-27
   days on market $204,900 Active 88 DOM
10. 2026-07-25
    days on market $204,900 Active 86 DOM
11. 2026-07-23
    days on market $204,900 Active 84 DOM
12. 2026-07-22
    days on market $204,900 Active 83 DOM
13. 2026-07-21
    days on market $204,900 Active 82 DOM
14. 2026-07-18
    days on market $204,900 Active 79 DOM
15. 2026-07-16
    days on market $204,900 Active 77 DOM
16. 2026-07-16
    pricedays on market $204,900 Active 76 DOM
17. 2026-07-14
    days on market $253,000 Active 75 DOM
18. 2026-07-13
    days on market $253,000 Active 74 DOM
19. 2026-07-12
    days on market $253,000 Active 73 DOM
20. 2026-07-11
    days on market $253,000 Active 72 DOM
21. 2026-07-10
    days on market $253,000 Active 71 DOM
22. 2026-07-09
    days on market $253,000 Active 70 DOM
23. 2026-07-08
    days on market $253,000 Active 69 DOM
24. 2026-07-07
    days on market $253,000 Active 68 DOM
25. 2026-07-06
    days on market $253,000 Active 67 DOM
26. 2026-07-05
    days on market $253,000 Active 66 DOM
27. 2026-07-04
    days on market $253,000 Active 65 DOM
28. 2026-07-03
    days on market $253,000 Active 64 DOM
29. 2026-07-02
    days on market $253,000 Active 63 DOM
30. 2026-07-01
    days on market $253,000 Active 62 DOM
31. 2026-06-30
    days on market $253,000 Active 61 DOM
32. 2026-06-29
    days on market $253,000 Active 60 DOM
33. 2026-06-28
    days on market $253,000 Active 59 DOM
34. 2026-06-28
    days on market $253,000 Active 58 DOM
35. 2026-06-27
    days on market $253,000 Active 57 DOM
36. 2026-06-25
    days on market $253,000 Active 55 DOM
37. 2026-06-23
    days on market $253,000 Active 53 DOM
38. 2026-06-22
    days on market $253,000 Active 52 DOM
39. 2026-06-18
    days on market $253,000 Active 49 DOM
40. 2026-06-17
    days on market $253,000 Active 48 DOM
41. 2026-06-16
    days on market $253,000 Active 47 DOM
42. 2026-06-15
    days on market $253,000 Active 46 DOM
43. 2026-06-14
    days on market $253,000 Active 44 DOM
44. 2026-06-13
    days on market $253,000 Active 43 DOM
45. 2026-06-10
    days on market $253,000 Active 41 DOM
46. 2026-06-09
    days on market $253,000 Active 40 DOM
47. 2026-06-09
    days on market $253,000 Active 39 DOM
48. 2026-06-07
    days on market $253,000 Active 38 DOM
49. 2026-06-03
    days on market $253,000 Active 34 DOM
50. 2026-06-02
    days on market $253,000 Active 33 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 7/10 Severe FEMA zone X (shaded) · 86% 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: $20,931
• − Mortgage interest: −$11,478
• − Property taxes: −$3,074
• − Insurance: −$1,822
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$2,304
• − Depreciation: −$5,961
• Taxable loss: −$7,056
• Est. tax savings @ 24.0%: +$1,693
• After-tax cash flow: $-1,865/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 Est. rehab $3,200–$9,600 screening

This well-maintained townhouse in South Padre Island offers a great coastal escape with a good condition score and minimal repairs needed. Potential buyers and renters will appreciate the open-concept layout and proximity to the beach.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in living areas — Freshens up the space and adds value ↑
• Both New kitchen appliances — Modernizes the kitchen and adds value ↑

ⓘ 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.

F Composite school gradezoned avg 23/100

Zoned Schools

Elementary Garriga El F TX #3,583/4,322 Nat'l #33,738/41,679 Middle Port Isabel J H F TX #1,445/1,662 Nat'l #11,801/14,009 High Port Isabel H S F TX #1,112/1,632 Nat'l #11,215/17,239

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

---

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: 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%

---

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

---

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

Property features AI

Finance

• Other: Property is part of Villa Isle condominiums
• HOA & community: Association: Villa IsleAnnual association fee of $2,300POA mandatory with $300 transfer feePOA contact available

Exterior

• Parking: No garageNo carportNo covered parkingNo designated parking spaces
• Utilities: Public waterInternet access
• Home design: Condominium unitNot new constructionLiving area reported by Cameron CADPaved road access
• Construction: Brick and stucco constructionSlab foundationFlat roofSlate roof
• Exterior features: Gulfside locationOther exterior features

Interior

• Kitchen: Electric water heaterNo conveying appliances
• Bedrooms: Living area(s) includes bedroom space
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioningThermostat (energy efficient feature)
• Interior features: Tile flooringDouble-pane windowsMini blindsBuilt-in featuresCountertops (other)
• Laundry & utility: Designated laundry area

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-30 Listed $253,000 MCALLENMLS
• 2026-04-30 Listed $253,000 SPIBOR