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

$389,900

3 bd · 2.0 ba · 1,496 sqft · Condo · 236 Days on market

Built 2013 Good condition $261/sqft · 8% below area Est $422k · 8% under $607/mo HOA · 22% 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 +10.9/15.0
• Cash flow +4.1/30.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• 1% rule +2.2/10.0
• 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 $-2k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (55.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (27.7% below list).
• Recommended offer: $173k (55.7% below list) — sets the bar for cash-flow.
• Cap rate 3.0% 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: 688 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 29d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $2,818/mo this rent would consume 49% 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 236 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; HOA is 22% of rent.
• 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 $172,618 (55.7% 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 236 days. Have you received any prior offers? Is the seller open to a 56% 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: 0.72% ✗
• Cap rate: 2.98%
• Cash-on-cash: -11.82%
• DSCR: 0.47
• GRM: 11.5

CMA / ARV

• ARV (median comp): $422,127
• List price: $389,900
• Delta: -7.63%
• 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
131 E Campeche St Unit B	0.45mi	3/3.0	1,500 (+0%)	1mo	$550,000	$367	74
107 W Acapulco St #3	0.41mi	2/2.5 (-1)	1,553 (+4%)	2mo	$635,000	$409	65
107 W Acapulco St #5	0.41mi	2/2.5 (-1)	1,553 (+4%)	2mo	$635,000	$409	65
404 Padre Blvd #1007	1.04mi	3/2.0	1,515 (+1%)	1mo	$655,000	$432	62
2100 Gulf Blvd #803	0.20mi	2/2.0 (-1)	1,226 (-18%)	0mo	$575,000	$469	60
117B E Mezquite St	0.67mi	3/2.0	1,334 (-11%)	1mo	$429,500	$322	50
3900 Gulf Blvd #503	0.81mi	3/3.0	1,431 (-4%)	4mo	$715,000	$500	50
130 E Retama St #3	0.65mi	2/2.0 (-1)	1,169 (-22%)	2mo	$325,000	$278	38
400 Padre Blvd #9152	1.02mi	2/2.5 (-1)	1,311 (-12%)	4mo	$650,000	$496	34
201 W Oleander St #6	0.87mi	2/2.0 (-1)	1,166 (-22%)	2mo	$270,000	$232	34
334 Padre Blvd #1500	1.18mi	2/2.0 (-1)	1,725 (+15%)	4mo	$855,000	$496	32
404 Padre Blvd #1004	1.04mi	2/2.0 (-1)	1,235 (-17%)	5mo	$480,000	$389	31

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: -48.3%
• Equity multiple: -0.45×
• Total profit: $-158,140
• Equity at exit: $58,135

10-year hold

• IRR: -90.8%
• Equity multiple: -1.36×
• Total profit: $-258,100
• 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: 3 active · 1 under contract
• Median asking: $689,995 ($494/sqft)
• Median days on market: 117 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -42.9% 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: 688
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,818 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: −$592
• Net cashflow: $-1,502

Break-even live

Break-even rent $4,719

Max offer price $172,618

Occupancy floor —

Sensitivity live

Price	-10% $-1,232	-5% $-1,367	+0% $-1,502	+5% $-1,636	+10% $-1,771
Rent	-10% $-1,724	-5% $-1,613	+0% $-1,502	+5% $-1,390	+10% $-1,279
Rate	-1.0pp $-1,305	-0.5pp $-1,402	base $-1,502	+0.5pp $-1,603	+1.0pp $-1,705

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2401 Gulf Blvd #110 South Padre Island, TX	2.0	2.0	1102	$2,500	$2.27	6d	1	0.06mi
2500 Gulf Blvd Unit 102 South Padre Island, TX	2.0	2.0	1150	$3,000	$2.61	5d	1	0.13mi
2615 Gulf Blvd South Padre Island, TX	2.0	1.5	1200	$2,250	$1.88	184d	1	0.15mi
126 E Swordfish St Unit 4 South Padre Island, TX	2.0	2.0	900	$2,660	$2.96	45d	1	0.21mi
126 E Swordfish St Unit 8 South Padre Island, TX	3.0	2.5	900	$3,660	$4.07	45d	1	0.21mi
126 E Swordfish St Unit 6 South Padre Island, TX	3.0	2.5	1200	$3,660	$3.05	10d	1	0.21mi
126 E Swordfish St Unit 6 South Padre Island, TX	3.0	2.5	1200	$3,600	$3.00	184d	1	0.21mi
126 E Swordfish St Unit 1 South Padre Island, TX	2.0	2.0	900	$2,660	$2.96	10d	1	0.21mi
102 W Corral St #2 South Padre Island, TX	2.0	2.0	992	$1,900	$1.92	41d	1	0.25mi
102 W Corral St #2 South Padre Island, TX	2.0	2.0	992	$1,900	$1.92	8d	1	0.25mi
102 W Corral St #3 South Padre Island, TX	2.0	1.0	992	$1,750	$1.76	0d	1	0.25mi
102 W Corral St #3 South Padre Island, TX	2.0	1.0	992	$1,750	$1.76	28d	1	0.25mi
123 E Dolphin St Unit 2 South Padre Island, TX	2.0	1.0	995	$2,200	$2.21	8d	1	0.27mi
123 E Dolphin St Unit 2 South Padre Island, TX	2.0	1.0	995	$2,200	$2.21	184d	1	0.27mi
114 E Dolphin St Unit A South Padre Island, TX	2.0	2.0	1430	$2,950	$2.06	10d	1	0.30mi
114 E Dolphin St Unit A South Padre Island, TX	2.0	2.0	1430	$2,950	$2.06	48d	1	0.30mi
114 E Dolphin St Unit A South Padre Island, TX	2.0	2.0	1430	$2,950	$2.06	35d	1	0.30mi
3101 Gulf Blvd Unit 20 South Padre Island, TX	2.0	2.5	1126	$2,500	$2.22	10d	1	0.32mi
107 W Acapulco St #4 South Padre Island, TX	2.0	2.5	1553	$6,600	$4.25	5d	1	0.41mi
117 E Campeche St Unit 1470134P South Padre Island, TX	2.0	2.0	1194	$3,682	$3.08	162d	1	0.43mi
111 W Sunny Isle Dr Unit 201 South Padre Island, TX	2.0	2.0	928	$2,500	$2.69	154d	1	0.44mi
111 W Sunny Isle Dr Unit 401 South Padre Island, TX	2.0	2.0	928	$2,351	$2.53	0d	1	0.44mi
3113 Laguna Blvd South Padre Island, TX	2.0	2.0	1000	$2,100	$2.10	0d	1	0.45mi
3113 Laguna Blvd South Padre Island, TX	2.0	2.0	1000	$2,100	$2.10	12d	1	0.45mi
118 E Campeche St Unit 1515050P South Padre Island, TX	2.0	2.0	990	$4,170	$4.21	162d	1	0.46mi
111 Harbor St Unit 1 South Padre Island, TX	3.0	3.0	1749	$5,500	$3.14	10d	1	0.49mi
107 E Bahama St #7 South Padre Island, TX	2.0	2.0	992	$2,200	$2.22	51d	1	0.49mi
107 E Bahama St #7 South Padre Island, TX	2.0	2.0	992	$2,200	$2.22	10d	1	0.49mi
127 E Atol St Unit A South Padre Island, TX	3.0	2.0	1600	$4,900	$3.06	51d	1	0.54mi
206 W Bahama St South Padre Island, TX	2.0	1.0	1200	$2,799	$2.33	184d	1	0.57mi
109 E Retama St #7 South Padre Island, TX	2.0	2.0	885	$2,100	$2.37	10d	1	0.60mi
109 E Retama St #7 South Padre Island, TX	2.0	2.0	885	$2,100	$2.37	1d	1	0.60mi
110 E Retama St Unit 1 South Padre Island, TX	3.0	3.0	1500	$2,000	$1.33	184d	1	0.63mi
110 E Retama St Unit 4 South Padre Island, TX	3.0	4.0	1261	$2,200	$1.74	184d	1	0.63mi
200 W Retama St Unit A South Padre Island, TX	2.0	2.0	1150	$2,800	$2.43	0d	1	0.66mi
200 W Mesquite St #3 South Padre Island, TX	2.0	2.5	1106	$2,500	$2.26	10d	1	0.72mi
134 E Huisache St Unit 1391810P South Padre Island, TX	3.0	3.0	1582	$7,410	$4.68	162d	1	0.75mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	154d	1	0.77mi
115 E Lantana St South Padre Island, TX	2.0	2.0	1168	$2,500	$2.14	10d	1	0.77mi
115 E Lantana St South Padre Island, TX	2.0	2.0	1168	$2,500	$2.14	29d	1	0.77mi

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. 2026-11-08
   days on market $389,900 Active 236 DOM
2. 2026-11-07
   days on market $389,900 Active 235 DOM
3. 2026-11-06
   days on market $389,900 Active 234 DOM
4. 2026-11-05
   days on market $389,900 Active 233 DOM
5. 2026-11-04
   days on market $389,900 Active 232 DOM
6. 2026-11-02
   days on market $389,900 Active 230 DOM
7. 2026-11-01
   days on market $389,900 Active 229 DOM
8. 2026-10-31
   days on market $389,900 Active 228 DOM
9. 2026-10-30
   days on market $389,900 Active 227 DOM
10. 2026-10-29
    days on market $389,900 Active 226 DOM
11. 2026-10-28
    days on market $389,900 Active 225 DOM
12. 2026-10-27
    days on market $389,900 Active 224 DOM
13. 2026-10-26
    days on market $389,900 Active 223 DOM
14. 2026-10-25
    days on market $389,900 Active 222 DOM
15. 2026-10-24
    days on market $389,900 Active 221 DOM
16. 2026-10-23
    days on market $389,900 Active 220 DOM
17. 2026-10-22
    days on market $389,900 Active 219 DOM
18. 2026-10-21
    days on market $389,900 Active 218 DOM
19. 2026-10-20
    days on market $389,900 Active 217 DOM
20. 2026-10-19
    days on market $389,900 Active 216 DOM
21. 2026-10-18
    days on market $389,900 Active 215 DOM
22. 2026-10-17
    days on market $389,900 Active 214 DOM
23. 2026-10-16
    days on market $389,900 Active 213 DOM
24. 2026-10-15
    days on market $389,900 Active 212 DOM
25. 2026-10-14
    days on market $389,900 Active 211 DOM
26. 2026-10-13
    days on market $389,900 Active 210 DOM
27. 2026-10-12
    days on market $389,900 Active 209 DOM
28. 2026-10-11
    days on market $389,900 Active 208 DOM
29. 2026-10-10
    days on market $389,900 Active 207 DOM
30. 2026-10-09
    days on market $389,900 Active 206 DOM
31. 2026-10-08
    days on market $389,900 Active 205 DOM
32. 2026-10-07
    days on market $389,900 Active 204 DOM
33. 2026-10-06
    days on market $389,900 Active 203 DOM
34. 2026-10-05
    days on market $389,900 Active 202 DOM
35. 2026-10-04
    days on market $389,900 Active 201 DOM
36. 2026-10-04
    days on market $389,900 Active 200 DOM
37. 2026-10-02
    days on market $389,900 Active 199 DOM
38. 2026-10-01
    days on market $389,900 Active 198 DOM
39. 2026-09-30
    days on market $389,900 Active 197 DOM
40. 2026-09-29
    days on market $389,900 Active 196 DOM
41. 2026-09-28
    days on market $389,900 Active 195 DOM
42. 2026-09-27
    days on market $389,900 Active 194 DOM
43. 2026-09-26
    days on market $389,900 Active 193 DOM
44. 2026-09-25
    days on market $389,900 Active 192 DOM
45. 2026-09-24
    days on market $389,900 Active 191 DOM
46. 2026-09-23
    days on market $389,900 Active 190 DOM
47. 2026-09-22
    days on market $389,900 Active 189 DOM
48. 2026-09-21
    days on market $389,900 Active 188 DOM
49. 2026-09-20
    days on market $389,900 Active 187 DOM
50. 2026-09-18
    days on market $389,900 Active 185 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: $33,820
• − Mortgage interest: −$21,840
• − Property taxes: −$5,848
• − Insurance: −$7,068
• − Repairs & maintenance: −$2,706
• − Management: −$2,706
• − HOA: −$7,284
• − Depreciation: −$11,343
• Taxable loss: −$24,975
• Est. tax savings @ 24.0%: +$5,994
• After-tax cash flow: $-12,025/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%
• 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