107 E Ling St #108 · South Padre Island, TX 78597

$389,900

3 bd · 2.0 ba · 1,496 sqft · Condo · 144 Days on market

Built 2013 Good condition $261/sqft · 6% below area Est $416k · 6% under $607/mo HOA · 20% of rent

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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 +10.4/15.0
• Cash flow +5.3/30.0
• Condition / age +3.8/5.0
• 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

Welcome to this Stunning and Spacious Two Story Condo Offering almost 1500 Sq Ft of Living Space. Featuring 3 Bedrooms, 2 Full Baths and an Additional Living Area perfect for a Media Room, Office or Greet Space, this Home is Designed for Comfort and Versatility. Enjoy Great Bay and Beach Views from Balcony, along with Views of the Entertainment District and Seasonal Fireworks. This Condo comes Fully Furnished and Move-in Ready, complete with Washer and Dryer, Granite Counter Tops, and Tile Floorings through out. Community Amenities Includes Assigned Tandem Parking, Swimming Pool, Outdoor Shower. Easy Walking Distance to Beach, Whether you are looking for a Full Time Residence or Investment Property, This Condo has it all.

Key facts

• Move-in ready
• Bay and beach views
• Granite counter tops

Tags

• BAY AND BEACH VIEWS
• ENTERTAINMENT DISTRICT VIEWS
• SEASONAL FIREWORKS
• FULLY FURNISHED
• MOVE-IN READY
• GRANITE COUNTER TOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $390k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (48.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (21.0% below list).
• Recommended offer: $203k (48.0% below list) — sets the bar for cash-flow.
• Cap rate 3.6% 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; 23 comparable units currently listed for rent nearby; rentals lingering (median 93d 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).
• At $3,081/mo this rent would consume 54% of the median local household income ($68k/yr) (locally 20% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 144 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: 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 $202,671 (48.0% 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 144 days. Have you received any prior offers? Is the seller open to a 48% 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: 0.79% ✗
• Cap rate: 3.62%
• Cash-on-cash: -9.53%
• DSCR: 0.58
• GRM: 10.5

CMA / ARV

• ARV (median comp): $416,409
• List price: $389,900
• Delta: -6.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 E Marlin St Unit D	0.08mi	2/2.0 (-1)	1,130 (-24%)	2mo	$435,000	$385	64
2100 Gulf Blvd	0.20mi	3/2.0	1,226 (-18%)	3mo	$640,000	$522	63
3900 Gulf Blvd #503	0.81mi	3/3.0	1,431 (-4%)	2mo	$715,000	$500	52
406 Padre Blvd #206	1.07mi	3/2.0	1,586 (+6%)	4mo	$585,000	$369	52
310 Padre Blvd #201	1.35mi	2/2.0 (-1)	1,390 (-7%)	2mo	$585,000	$421	46
119 E Polaris Dr	1.46mi	3/3.0	1,628 (+9%)	3mo	$749,000	$460	44
310 Padre Blvd #403	1.35mi	2/2.0 (-1)	1,361 (-9%)	2mo	$685,000	$503	43
400 Padre Blvd #9152	1.02mi	2/2.5 (-1)	1,311 (-12%)	1mo	$650,000	$496	36
334 Padre Blvd #1500	1.18mi	2/2.0 (-1)	1,725 (+15%)	1mo	$855,000	$496	34
404 Padre Blvd #1004	1.04mi	2/2.0 (-1)	1,235 (-17%)	2mo	$480,000	$389	33
708 Padre Blvd #1504	0.84mi	2/2.0 (-1)	1,172 (-22%)	4mo	$584,900	$499	32
3816 Gulf Blvd #502	0.77mi	4/4.0 (+1)	1,785 (+19%)	3mo	$799,000	$448	24

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: -42.9%
• Equity multiple: -0.33×
• Total profit: $-144,908
• Equity at exit: $58,135

10-year hold

• IRR: -71.9%
• Equity multiple: -1.10×
• Total profit: $-229,529
• Equity at exit: $33,711

Cash invested: $109,172 (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: 4 active · 1 under contract
• Median asking: $642,498 ($490/sqft)
• Median days on market: 159 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -43.1% 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: 10.5×

Monthly cashflow live

• Estimated rent: $3,081 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$487 /mo · $5,848/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$607
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $-1,294

Break-even live

Break-even rent $4,719

Max offer price $202,671

Occupancy floor —

Sensitivity live

Price	-10% $-1,024	-5% $-1,159	+0% $-1,294	+5% $-1,429	+10% $-1,563
Rent	-10% $-1,537	-5% $-1,416	+0% $-1,294	+5% $-1,172	+10% $-1,050
Rate	-1.0pp $-1,098	-0.5pp $-1,195	base $-1,294	+0.5pp $-1,395	+1.0pp $-1,498

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: $97,475
• Closing costs: $11,697
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2615 Gulf Blvd South Padre Island, TX	2.0	1.5	1200	$2,250	$1.88	93d	1	0.15mi
126 E Swordfish St Unit 1 South Padre Island, TX	2.0	2.0	900	$2,600	$2.89	93d	1	0.21mi
126 E Swordfish St Unit 6 South Padre Island, TX	3.0	2.5	1200	$3,600	$3.00	93d	1	0.21mi
126 E Swordfish St Unit 4 South Padre Island, TX	2.0	2.0	900	$2,670	$2.97	93d	1	0.21mi
123 E Dolphin St Unit 2 South Padre Island, TX	2.0	1.0	995	$2,200	$2.21	93d	1	0.27mi
117 E Campeche St Unit 1470134P South Padre Island, TX	2.0	2.0	1194	$3,682	$3.08	70d	1	0.43mi
111 W Sunny Isle Dr Unit 201 South Padre Island, TX	2.0	2.0	928	$2,500	$2.69	63d	1	0.44mi
118 E Campeche St Unit 1515050P South Padre Island, TX	2.0	2.0	990	$4,170	$4.21	70d	1	0.46mi
127 E Atol St Unit A South Padre Island, TX	3.0	2.0	1600	$4,700	$2.94	70d	1	0.54mi
206 W Bahama St South Padre Island, TX	2.0	1.0	1200	$2,799	$2.33	93d	1	0.57mi
109 E Retama St South Padre Island, TX	2.0	2.0	885	$2,100	$2.37	93d	1	0.60mi
110 E Retama St Unit 4 South Padre Island, TX	3.0	4.0	1261	$2,200	$1.74	93d	1	0.63mi
110 E Retama St Unit 1 South Padre Island, TX	3.0	3.0	1500	$2,000	$1.33	93d	1	0.63mi
134 E Huisache St Unit 1391810P South Padre Island, TX	3.0	3.0	1582	$7,410	$4.68	70d	1	0.75mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	63d	1	0.77mi
3900 Gulf Blvd #602 South Padre Island, TX	2.0	2.0	1167	$2,600	$2.23	93d	1	0.79mi
132 E Gardenia St Unit 1515054P South Padre Island, TX	2.0	2.0	1162	$4,746	$4.08	63d	1	0.92mi
106 W Capricorn Dr South Padre Island, TX	2.0	2.0	1084	$2,200	$2.03	93d	1	1.38mi
310A Padre Blvd Apt 801 South Padre Island, TX	3.0	2.5	1748	$7,500	$4.29	93d	1	1.39mi
103 E Aries Dr #3 South Padre Island, TX	2.0	2.0	1021	$2,200	$2.15	93d	1	1.39mi
102 W Aries Dr Unit A South Padre Island, TX	2.0	2.0	1084	$2,150	$1.98	63d	1	1.44mi
111 E Polaris Dr #7 South Padre Island, TX	2.0	2.0	882	$1,800	$2.04	93d	1	1.45mi
150 Padre Blvd Unit 1372339P South Padre Island, TX	2.0	2.0	1194	$4,507	$3.77	70d	1	1.48mi

HOA detail $607/mo · $7,284/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 $389,900 Active 144 DOM
2. 2026-08-07
   days on market $389,900 Active 143 DOM
3. 2026-08-06
   days on market $389,900 Active 142 DOM
4. 2026-08-05
   days on market $389,900 Active 141 DOM
5. 2026-08-04
   days on market $389,900 Active 140 DOM
6. 2026-08-03
   days on market $389,900 Active 139 DOM
7. 2026-07-31
   days on market $389,900 Active 136 DOM
8. 2026-07-29
   days on market $389,900 Active 134 DOM
9. 2026-07-27
   days on market $389,900 Active 132 DOM
10. 2026-07-25
    days on market $389,900 Active 130 DOM
11. 2026-07-23
    days on market $389,900 Active 128 DOM
12. 2026-07-22
    days on market $389,900 Active 127 DOM
13. 2026-07-21
    days on market $389,900 Active 126 DOM
14. 2026-07-18
    days on market $389,900 Active 123 DOM
15. 2026-07-16
    days on market $389,900 Active 121 DOM
16. 2026-07-16
    days on market $389,900 Active 120 DOM
17. 2026-07-14
    days on market $389,900 Active 119 DOM
18. 2026-07-13
    days on market $389,900 Active 118 DOM
19. 2026-07-12
    days on market $389,900 Active 117 DOM
20. 2026-07-11
    days on market $389,900 Active 116 DOM
21. 2026-07-10
    days on market $389,900 Active 115 DOM
22. 2026-07-09
    days on market $389,900 Active 114 DOM
23. 2026-07-08
    days on market $389,900 Active 113 DOM
24. 2026-07-07
    days on market $389,900 Active 112 DOM
25. 2026-07-06
    days on market $389,900 Active 111 DOM
26. 2026-07-05
    days on market $389,900 Active 110 DOM
27. 2026-07-04
    days on market $389,900 Active 109 DOM
28. 2026-07-03
    days on market $389,900 Active 108 DOM
29. 2026-07-02
    days on market $389,900 Active 107 DOM
30. 2026-07-01
    days on market $389,900 Active 106 DOM
31. 2026-06-30
    days on market $389,900 Active 105 DOM
32. 2026-06-29
    days on market $389,900 Active 104 DOM
33. 2026-06-28
    days on market $389,900 Active 103 DOM
34. 2026-06-28
    days on market $389,900 Active 102 DOM
35. 2026-06-27
    days on market $389,900 Active 101 DOM
36. 2026-06-25
    days on market $389,900 Active 99 DOM
37. 2026-06-23
    days on market $389,900 Active 97 DOM
38. 2026-06-22
    days on market $389,900 Active 96 DOM
39. 2026-06-18
    days on market $389,900 Active 93 DOM
40. 2026-06-17
    days on market $389,900 Active 92 DOM
41. 2026-06-16
    days on market $389,900 Active 91 DOM
42. 2026-06-15
    days on market $389,900 Active 90 DOM
43. 2026-06-14
    days on market $389,900 Active 88 DOM
44. 2026-06-13
    days on market $389,900 Active 87 DOM
45. 2026-06-10
    days on market $389,900 Active 85 DOM
46. 2026-06-09
    days on market $389,900 Active 84 DOM
47. 2026-06-09
    days on market $389,900 Active 83 DOM
48. 2026-06-07
    days on market $389,900 Active 82 DOM
49. 2026-06-03
    days on market $389,900 Active 78 DOM
50. 2026-06-02
    days on market $389,900 Active 77 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: $36,975
• − Mortgage interest: −$21,840
• − Property taxes: −$5,848
• − Insurance: −$7,068
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − HOA: −$7,284
• − Depreciation: −$11,343
• Taxable loss: −$22,325
• Est. tax savings @ 24.0%: +$5,358
• After-tax cash flow: $-10,169/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 $7,480–$22,440 screening

This two-story condo is in good condition with a good location and a well-maintained exterior. It is move-in ready and has a good resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the kitchen countertops — Granite countertops are durable and can add value to the property ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency ↑

ⓘ 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

+0.0% since first listed

3 events — show timeline

• 2026-03-17 Listed $389,900 SPIBOR
• 2025-09-09 Listed $389,900 SPIBOR
• 2020-01-15 Sold (MLS) — SPIBOR