108 E Coronado Dr #207 · South Padre Island, TX 78597

$259,000

2 bd · 2.0 ba · 874 sqft · Condo · 115 Days on market

Built 1981 Good condition $296/sqft · 8% below area Est $282k · 8% under $375/mo HOA · 18% of rent ↓ 26% since listing

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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 +11.2/15.0
• Cash flow +6.0/30.0
• Condition / age +3.8/5.0
• 1% rule +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Experience the best of South Padre Island real estate with this beautifully maintained 2 bedroom, 2 bathroom condo located on the second floor, just minutes from the beach. Whether you are searching for a vacation home or investment property, this condo checks every box. Open concept living, dining, and kitchen area designed for easy coastal living and entertaining. The space is filled with natural light and features tile flooring throughout, making it both stylish and low maintenance. The layout flows seamlessly from the living area to a private balcony, perfect for enjoying the island breeze.

Key facts

• Hot tub
• Community pool
• Private balcony

Tags

• PRIVATE BALCONY
• COMMUNITY POOL
• HOT TUB
• BEAUTIFULLY MAINTAINED GROUNDS
• EASY ACCESS TO BEACHES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $259k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-567 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (18.6% below list).
• Recommended offer: $177k (31.7% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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); 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 83% FRL vs 35% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 580 active listings in the ZIP; 18 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 37% 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 $2k of loan paydown is wiped out by about $8k 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 115 days — a 9% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 4 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: 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 $177,002 (31.7% 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 115 days. Have you received any prior offers? Is the seller open to a 32% 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: 0.81% ✗
• Cap rate: 3.98%
• Cash-on-cash: -8.28%
• DSCR: 0.63
• GRM: 10.2

CMA / ARV

• ARV (median comp): $282,414
• List price: $259,000
• Delta: -8.29%
• 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 Coronado Dr #303	0.07mi	2/1.5	843 (-4%)	8mo	$267,000	$317	82
5600 Gulf Blvd #301	0.15mi	2/2.0	837 (-4%)	7mo	$450,000	$538	80
111 E Morningside Dr #209	0.07mi	2/2.0	1,040 (+19%)	2mo	$338,000	$325	70
106 E Atol St #1	1.21mi	2/2.0	882 (+1%)	3mo	$310,000	$351	61
113 E Retama St #10	1.18mi	2/2.0	850 (-3%)	0mo	$315,000	$371	60
110 Verna Jean Dr #110	0.24mi	2/2.0	1,040 (+19%)	11mo	$360,000	$346	54
124 E Mars St Unit A	0.53mi	2/2.0	1,070 (+22%)	2mo	$399,900	$374	48
4901 Laguna Blvd #605	0.45mi	2/2.0	983 (+12%)	13mo	$355,000	$361	48
3608 Gulf Blvd Unit A2	1.18mi	2/2.0	986 (+13%)	9mo	$490,000	$497	36
123 E Saturn Ln Unit D-4	0.74mi	2/2.0	1,021 (+17%)	8mo	$350,000	$343	34
6608 Padre Blvd E #135	0.62mi	1/1.0 (-1)	712 (-18%)	7mo	$309,000	$434	32
123 E Saturn Ln Unit C-3	0.74mi	2/2.0	1,021 (+17%)	12mo	$325,000	$318	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: -32.8%
• Equity multiple: -0.07×
• Total profit: $-77,757
• Equity at exit: $38,618

10-year hold

• IRR: -38.1%
• Equity multiple: -0.56×
• Total profit: $-112,952
• Equity at exit: $22,394

Cash invested: $72,520 (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: 2 active · 1 under contract
• Median asking: $252,000 ($325/sqft)
• Median days on market: 191 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: -0.6% 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: 10.2×

Monthly cashflow live

• Estimated rent: $2,107 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$375
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-567

Break-even live

Break-even rent $2,824

Max offer price $177,002

Occupancy floor —

Sensitivity live

Price	-10% $-388	-5% $-477	+0% $-567	+5% $-656	+10% $-746
Rent	-10% $-733	-5% $-650	+0% $-567	+5% $-483	+10% $-400
Rate	-1.0pp $-436	-0.5pp $-501	base $-567	+0.5pp $-634	+1.0pp $-702

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: $64,750
• Closing costs: $7,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 E Parade Dr #19 South Padre Island, TX	2.0	2.5	1100	$2,200	$2.00	63d	1	0.04mi
115 E Coronado Dr South Padre Island, TX	2.0	1.5	843	$2,200	$2.61	63d	1	0.08mi
125 E Morningside Dr Unit 302 South Padre Island, TX	2.0	2.0	680	$1,900	$2.79	63d	1	0.13mi
111 E Polaris Dr #7 South Padre Island, TX	2.0	2.0	882	$1,800	$2.04	93d	1	0.36mi
102 W Aries Dr Unit A South Padre Island, TX	2.0	2.0	1084	$2,150	$1.98	63d	1	0.39mi
103 E Aries Dr #3 South Padre Island, TX	2.0	2.0	1021	$2,200	$2.15	93d	1	0.42mi
106 W Capricorn Dr South Padre Island, TX	2.0	2.0	1084	$2,200	$2.03	93d	1	0.45mi
101 E Capricorn Dr Unit B South Padre Island, TX	2.0	2.0	800	$2,300	$2.88	93d	1	0.47mi
6201 Padre Blvd Unit 102 South Padre Island, TX	2.0	2.0	980	$2,200	$2.24	63d	1	0.50mi
109 E Venus Ln Unit 2 South Padre Island, TX	1.0	1.0	750	$1,250	$1.67	70d	1	0.70mi
109 E Venus Ln Unit 3 South Padre Island, TX	1.0	1.0	750	$1,150	$1.53	70d	1	0.70mi
107 E Venus Ln Unit 1 South Padre Island, TX	2.0	1.0	750	$1,275	$1.70	63d	1	0.70mi
210 W Gardenia St Unit 12 South Padre Island, TX	2.0	1.0	684	$2,450	$3.58	63d	1	0.91mi
210 W Gardenia St Unit 11 South Padre Island, TX	2.0	1.0	684	$2,000	$2.92	93d	1	0.91mi
117 E Lantana St Unit 1515053P South Padre Island, TX	2.0	2.0	1108	$3,332	$3.01	63d	1	1.04mi
109 E Retama St South Padre Island, TX	2.0	2.0	885	$2,100	$2.37	93d	1	1.21mi
114 E Atol St #4 South Padre Island, TX	2.0	2.0	853	$2,100	$2.46	93d	1	1.23mi
118 E Campeche St Unit 1515050P South Padre Island, TX	2.0	2.0	990	$4,170	$4.21	70d	1	1.35mi

Property features AI

Finance

• Other: Lot size approximately 1,248 square feet (0.0286 acres)
• Financial info: Escrow amount listed as 2500
• HOA & community: Parklane associationMonthly association fee of $375Mandatory POAPOA transfer fee applies

Exterior

• Parking: No garageNo carportNo covered parkingNo designated parking spaces
• Security: Smoke detectors
• Utilities: Public waterCity sewerElectric water heater
• Home design: Condo unitSecond-floor entry
• Construction: Stucco exteriorSlab foundationFlat roofBuilt area: 874 square feet
• Exterior features: BalconyPaved roadsCommunity poolOutdoor in-ground poolPrivate poolHeated spaSidewalks

Interior

• Kitchen: DishwasherDisposalConvection ovenStove/RangeRefrigeratorMicrowaveElectric water heater
• Bedrooms: Unit on second floor (Unit 207)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Laminate countertopsCeiling fansMicrowaveDrapesWood or faux wood blinds
• Laundry & utility: WasherDryerLaundry closet

HOA detail $375/mo · $4,500/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $259,000 Active 115 DOM
2. 2026-08-07
   days on market $259,000 Active 114 DOM
3. 2026-08-06
   days on market $259,000 Active 113 DOM
4. 2026-08-05
   days on market $259,000 Active 112 DOM
5. 2026-08-04
   days on market $259,000 Active 111 DOM
6. 2026-08-03
   days on market $259,000 Active 110 DOM
7. 2026-07-31
   days on market $259,000 Active 107 DOM
8. 2026-07-29
   days on market $259,000 Active 105 DOM
9. 2026-07-27
   days on market $259,000 Active 103 DOM
10. 2026-07-25
    days on market $259,000 Active 101 DOM
11. 2026-07-23
    days on market $259,000 Active 99 DOM
12. 2026-07-22
    days on market $259,000 Active 98 DOM
13. 2026-07-21
    days on market $259,000 Active 97 DOM
14. 2026-07-18
    days on market $259,000 Active 94 DOM
15. 2026-07-16
    days on market $259,000 Active 92 DOM
16. 2026-07-16
    days on market $259,000 Active 91 DOM
17. 2026-07-14
    days on market $259,000 Active 90 DOM
18. 2026-07-13
    days on market $259,000 Active 89 DOM
19. 2026-07-12
    days on market $259,000 Active 88 DOM
20. 2026-07-11
    days on market $259,000 Active 87 DOM
21. 2026-07-10
    days on market $259,000 Active 86 DOM
22. 2026-07-09
    days on market $259,000 Active 85 DOM
23. 2026-07-08
    days on market $259,000 Active 84 DOM
24. 2026-07-07
    days on market $259,000 Active 83 DOM
25. 2026-07-06
    days on market $259,000 Active 82 DOM
26. 2026-07-05
    days on market $259,000 Active 81 DOM
27. 2026-07-04
    days on market $259,000 Active 80 DOM
28. 2026-07-03
    days on market $259,000 Active 79 DOM
29. 2026-07-02
    days on market $259,000 Active 78 DOM
30. 2026-07-01
    days on market $259,000 Active 77 DOM
31. 2026-06-30
    days on market $259,000 Active 76 DOM
32. 2026-06-29
    days on market $259,000 Active 75 DOM
33. 2026-06-28
    days on market $259,000 Active 74 DOM
34. 2026-06-28
    days on market $259,000 Active 73 DOM
35. 2026-06-27
    days on market $259,000 Active 72 DOM
36. 2026-06-25
    days on market $259,000 Active 70 DOM
37. 2026-06-23
    days on market $259,000 Active 68 DOM
38. 2026-06-22
    days on market $259,000 Active 67 DOM
39. 2026-06-18
    days on market $259,000 Active 64 DOM
40. 2026-06-17
    days on market $259,000 Active 63 DOM
41. 2026-06-16
    days on market $259,000 Active 62 DOM
42. 2026-06-15
    days on market $259,000 Active 61 DOM
43. 2026-06-14
    days on market $259,000 Active 59 DOM
44. 2026-06-13
    days on market $259,000 Active 58 DOM
45. 2026-06-10
    days on market $259,000 Active 56 DOM
46. 2026-06-09
    days on market $259,000 Active 55 DOM
47. 2026-06-09
    days on market $259,000 Active 54 DOM
48. 2026-06-07
    days on market $259,000 Active 53 DOM
49. 2026-06-03
    days on market $259,000 Active 49 DOM
50. 2026-06-02
    days on market $259,000 Active 48 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) · 95% 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: $25,286
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$2,092
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − HOA: −$4,500
• − Depreciation: −$7,535
• Taxable loss: −$11,280
• Est. tax savings @ 24.0%: +$2,707
• After-tax cash flow: $-4,093/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 · 6 photos

Good 75/100 Cosmetic rehab Est. rehab $4,370–$13,110 screening

This well-maintained 2-bedroom, 2-bathroom condo on the second floor of a complex offers a great location just minutes from the beach. With a good condition score and minimal repairs needed, it's an excellent investment property with high potential for both resale and rental value.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Replace worn-out flooring tiles — New flooring can improve the overall look and feel of the common areas. ↑
• Resale Upgrade the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Install smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers and renters. ↑
• Both Add outdoor lighting — Outdoor lighting can enhance safety and curb appeal, especially at night. ↑

ⓘ 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 24/100

Zoned Schools

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

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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

Property features AI

Finance

• Other: Lot size approximately 1,248 square feet (0.0286 acres)
• Financial info: Escrow amount listed as 2500
• HOA & community: Parklane associationMonthly association fee of $375Mandatory POAPOA transfer fee applies

Exterior

• Parking: No garageNo carportNo covered parkingNo designated parking spaces
• Security: Smoke detectors
• Utilities: Public waterCity sewerElectric water heater
• Home design: Condo unitSecond-floor entry
• Construction: Stucco exteriorSlab foundationFlat roofBuilt area: 874 square feet
• Exterior features: BalconyPaved roadsCommunity poolOutdoor in-ground poolPrivate poolHeated spaSidewalks

Interior

• Kitchen: DishwasherDisposalConvection ovenStove/RangeRefrigeratorMicrowaveElectric water heater
• Bedrooms: Unit on second floor (Unit 207)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Laminate countertopsCeiling fansMicrowaveDrapesWood or faux wood blinds
• Laundry & utility: WasherDryerLaundry closet

Price history

-26.0% since first listed

8 events — show timeline

• 2026-04-15 Listed $259,000 MCALLENMLS
• 2026-02-04 Price Changed $290,000 MCALLENMLS
• 2025-06-12 Listed $317,500 MCALLENMLS
• 2024-11-15 Listed $310,000 SPIBOR
• 2024-02-21 Price Changed $305,000 MCALLENMLS
• 2024-01-04 Price Changed $315,000 MCALLENMLS
• 2023-10-19 Price Changed $335,000 MCALLENMLS
• 2022-08-05 Listed $350,000 MCALLENMLS