510 South Shore Dr · Port Isabel, TX 78578

$285,000

None bd · None ba · 2,754 sqft · MultiFamily · 1 Days on market

Built 1983 Poor condition 6,050 sqft lot

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Condition / age +1.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Wood frame 2 story building on corner lot with 4 units consists of 2/1 in each unit. Great location with water views. Apartments require some updates. Tenants pay electricity and owner pays water. 4 electric meters and 1 water meter. Total monthly rent is $2,800.

Key facts

• Water views
• 1 water meter
• 4 electric meters

Tags

• CORNER LOT
• WATER VIEWS
• 4 ELECTRIC METERS
• 1 WATER METER

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential (multiplex 2–10); 2 stories
• Construction: Block construction; Slab foundation
• Exterior features: Corner lot

Interior

• Heating & cooling: Has cooling (wall/window units)
• Interior features: Electric water heater; Wall/window air conditioning units

What this means for you Summary

Snapshot

• This is a multifamily listed at $285k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $285k).
• Cap rate 22.5% vs local median 3.4% in Port Isabel — 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 75/100 on livability (#157 in TX, #4,282 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, 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: 254 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $285,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.59% ✓
• Cap rate: 22.51%
• Cash-on-cash: 57.91%
• DSCR: 3.58
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.4%
• Equity multiple: 3.16×
• Total profit: $172,306
• Equity at exit: $42,494

10-year hold

• IRR: 55.0%
• Equity multiple: 6.42×
• Total profit: $432,416
• Equity at exit: $24,642

Cash invested: $79,800 (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 →

ZIP-level market 78578

• Home prices YoY: -21.7%
• Active inventory: 254
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $7,368 medium
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,547
• Net cashflow: $3,425

Break-even live

Break-even rent $3,033

Max offer price $285,000

Occupancy floor 49%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,368
Total (4 units)			$7,368

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Pompano Ave Unit 1515052P Port Isabel, TX	3.0	2.0	1991	$7,195	$3.61	13d	1	0.77mi

Listing history 2 events

1. 2026-06-19
   remarks 263-char remark
2. 2026-06-19
   listed $285,000 Active 1 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 8/10 Severe FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $88,416
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$6,544
• − Repairs & maintenance: −$7,073
• − Management: −$7,073
• − Depreciation: −$8,291
• Taxable income: $39,196
• Est. tax owed @ 24.0%: −$9,407
• After-tax cash flow: $31,688/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 · 10 photos

Poor 30/100 Extensive rehab

This multi-family property requires extensive repairs and updates to improve its condition and value. The property is currently in poor condition and requires significant work to bring it up to a livable standard.

Repairs flagged

• Major kitchen appliances — outdated and need replacement
• Major bathroom fixtures — outdated and need replacement
• Major roof — visible wear
• Major exterior siding — worn
• Major flooring — worn
• Major interior walls/paint — worn
• Major windows — worn
• Major foundation/structure — worn
• Major HVAC/mechanicals — worn
• Major landscaping — worn

Value-add opportunities

• Resale kitchen appliances — new appliances will attract buyers
• Resale bathroom fixtures — new fixtures will attract buyers
• Both exterior siding — new siding will improve curb appeal and value
• Both flooring — new flooring will improve curb appeal and value
• Both interior walls/paint — new paint will improve curb appeal and value
• Both windows — new windows will improve curb appeal and value
• Both foundation/structure — new foundation will improve structural integrity and value
• Both HVAC/mechanicals — new HVAC will improve comfort and value
• Both landscaping — new landscaping will improve curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and need replacement	Major	$15,000–50,000
bathroom fixtures · outdated and need replacement	Major	$15,000–50,000
roof · visible wear	Major	$15,000–50,000
exterior siding · worn	Major	$15,000–50,000
flooring · worn	Major	$15,000–50,000
interior walls/paint · worn	Major	$15,000–50,000
windows · worn	Major	$15,000–50,000
foundation/structure · worn	Major	$15,000–50,000
HVAC/mechanicals · worn	Major	$15,000–50,000
landscaping · worn	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Resale kitchen appliances — new appliances will attract buyers ↑
• Resale bathroom fixtures — new fixtures will attract buyers ↑
• Both exterior siding — new siding will improve curb appeal and value ↑
• Both flooring — new flooring will improve curb appeal and value ↑
• Both interior walls/paint — new paint will improve curb appeal and value ↑
• Both windows — new windows will improve curb appeal and value ↑
• Both foundation/structure — new foundation will improve structural integrity and value ↑
• Both HVAC/mechanicals — new HVAC will improve comfort and value ↑
• Both landscaping — new landscaping will improve curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

Livability — Port Isabel

• Score: 75/100
• State rank: #157
• US rank: #4282

Category grades

Amenities B+ Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Isabel, TX
• Population (ZIP): 10,231

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 35% Two or more races 19%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 18% · Canada
• Languages at home: 57% English-only · Spanish 42%

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: ▼ -61.69%
• Current HPI: 222.9501
• Rent YoY: —
• Metro: —
• 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

Price history

1 event — show timeline

• 2026-06-18 Listed $285,000 RGVMLS