Ricardo Salazar · REALTOR® · TREC #643769 · RCR Real Connect Realty (broker license #9012393)

Investor sheet · MLS# 29780320 · https://ricosalazar.com/properties/310a-padre-blvd-south-padre-island-tx-78597-29780320

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For sale

$1,200,000

310A Padre Blvd. #1109, South Padre Island, TX 78597

bd: 3
ba: 3
ft²: 1,766

No rent in the MLS: run cash flow with your own estimate Run the numbers →

MLS# 29780320 · Listed by Dina Rich, KELLER WILLIAMS LRGV · Tel. 956-423-8877

TypeCondo / townhome
Year built2006
Price / ft²$680
HOA / month$1,475
South Padre Island (Queen Isabella Causeway)≈ 5 min approx.

Virtual tour Ask for a video walkthrough

Description

Virtual Tours & More - bit.ly/sap1109 Beachfront living with a little extra island magic! This 11th-floor south-corner condo offers water views from every room, with an east-facing balcony overlooking the ocean & a west-facing balcony showcasing the bay. Both balconies, living room and kitchen offer views of the SpaceX launch pad. Sold fully furnished with all-new furniture & TVs, this beach retreat features a remodeled kitchen, glass-block accent walls, in-unit washer/dryer, tankless water heater, & remote-controlled blinds (but with views like these, why close them?). There's an exterior storage closet for your beach gear. Just add flip-flops and you're ready to soak up the island life! The Sapphire has everything you need to enjoy the ultimate island lifestyle! — the biggest pool on SPI, gym, gameroom, theater, full-service spa, beach chair service, housekeeping, 24/7 front desk. Don't miss your chance to own one of the best spots on the Island for a SpaceX launch party!

Property details

Type: Condo / townhome · Condominium
Status: For sale
MLS#: 29780320
Price: $1,200,000
Price per ft²: $680
Bedrooms: 3
Bathrooms: 3
Living area: 1,766 ft²
Year built: 2006
Subdivision: Padre Beach Est
City: South Padre Island
County: Cameron
HOA: $1,475/mo
Days on market: 9
Listed: Oct 19, 2026
Last updated: Oct 19, 2026, 12:21 AM CT

Numbers for investors

Price per ft²

$680

Source: MLS listing

Days on market

Source: MLS listing

Est. fixed costs per month: $4,675/mo Est.
Cash to close with 25% down: $336,000 Est.

General information only, not legal, tax or financial advice. Ricardo Salazar is a licensed real estate agent, not an attorney, CPA or lender. Consult qualified professionals in the U.S. and Mexico.

Investment calculator · Estimates

What could it earn?

Purchase

Price

List price per the MLS. Try your own offer.

Down payment25%

100% = cash purchase, no loan.

Interest rate7%

Planning assumption, not a lender quote.

Loan term

15 yrs 20 yrs 30 yrs

Income

Monthly rent

/mo

The MLS does not publish a rent for this property. Enter your own estimate or ask Ricardo for rent comps in the area.

Vacancy8%

Share of the year the property sits empty.

Expenses

Property tax

/yr

Estimated at 2.2% of the price per year. Verify it with the Cameron Appraisal District.

Insurance

/yr

Estimated at 1% of the price per year; coastal wind coverage can cost more.

HOA

/mo

Monthly dues per the MLS listing.

Maintenance5%

% of collected rent.

Property management8%

% of collected rent, if you hire a manager.

Closing costs3%

Buyer side: title, appraisal, lender fees (estimate).

I am a foreign buyer (no SSN)

Monthly cash flow Est.

—

Enter the estimated rent to see cash flow, cap rate and cash-on-cash.

— How it’s calculated

—

Estimated monthly cost

Mortgage $5,988
Tax $2,200
Insurance $1,000
HOA $1,475
Operations $0

Mortgage payment (P&I): $5,988/mo
Rent after vacancy: —
Total monthly cost: $10,663/mo
Net operating income (NOI): —
Down payment: $300,000
Closing costs (est.): $36,000
Cash needed at closing: $336,000

Review these numbers with Ricardo

Illustrative estimates only, not financial advice or a guarantee of results. Assumptions are editable; taxes, insurance, rent and rates vary. Verify with a lender, insurer and CPA.

How we calculate the cap rate, and how accurate it is

Cap rate = NOI ÷ price. NOI is the rent you would collect in a year, after vacancy, minus the costs of running the property. The loan is left out, so the cap rate measures the property as if you paid cash.

Gross rent, 12 months Not provided: —
Gross yield: rent ÷ price, before costs: —
minus Vacancy (8% of gross rent) Assumption: —
equals Rent collected: —
minus Property tax Estimate: $26,400
minus Insurance Estimate: $12,000
minus HOA dues, 12 months MLS listing: $17,700
minus Maintenance (5% of rent collected) Assumption: —
minus Management (8% of rent collected) Assumption: —
equals Net operating income (NOI): —
divided by Price MLS listing: $1,200,000
equals Cap rate: —

Amounts are rounded to the dollar; the cap rate uses the exact figures.

Is it accurate?

It is an estimate, not a quote or a guaranteed return. It is only as good as its inputs:

From the MLS listing:
From a rent comparable:
Your figures:
Our estimates and assumptions:
Not provided, counted as $0:
Missing: the monthly rent. Enter it to get a cap rate.

MLS figures are what the listing reports. We have not verified them.
The tax on a listing is the seller’s last bill, and it can be lower than what you will pay: a homestead exemption, the 10% cap on homestead appraisals and an over-65 or disability tax ceiling do not carry over to an investor.
Listings in this MLS do not include property tax, so unless you enter your own figure we use 2.2% of the price a year. Look up the property’s value and taxing units at the Cameron Appraisal District (opens in a new tab); a rental does not get the homestead exemption.
If a listing advertises its own cap rate, it may leave out vacancy, management or other costs, which makes it look higher.
To confirm it, ask for the current lease or rent roll, last year’s tax bill (Cameron County Tax Assessor-Collector) and your own insurance quote from a Texas-licensed agent; coastal wind and flood coverage can cost much more. For a specific property, Ricardo can ask the listing agent for the lease, the tax bill and what the seller pays for insurance.

What it leaves out

The mortgage. Your loan shows up in cash flow and cash-on-cash, not in the cap rate.
Big repairs and replacements (roof, A/C, appliances) and savings set aside for them.
Utilities, lawn care or pest control, if the owner pays them.
Closing costs, leasing fees, income taxes in the U.S. or Mexico, and depreciation.

Location and drive times

310A Padre Blvd. #1109, South Padre Island, TX 78597 Open in Google Maps (opens in a new tab)

South Padre Island (Queen Isabella Causeway)≈ 5 min approx.
Port of Brownsville≈ 25 min approx.
UTRGV Brownsville campus≈ 35 min approx.
Veterans International Bridge at Los Tomates≈ 35 min approx.
Gateway International Bridge≈ 35 min approx.
B&M International Bridge≈ 35 min approx.
SpaceX Starbase launch site, Boca Chica≈ 50 min approx.

Approximate car times computed from the map: city pace for the first 10 km, highway pace after that, and trips that would cross the ship channel go around it by the Port. They do not include traffic, bridge waits or launch-day road closures.

Schematic

Approximate positions; not a navigation map.

Buying from Mexico with a loan?

Ricardo is not a lender. Ask him which loan types exist for foreign buyers and which documents lenders usually request.

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REALTOR® · TREC #643769

Ricardo Salazar

RCR Real Connect Realty

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Phone / WhatsApp: +1 (956) 592-5052
Email: [email protected]
Website: https://ricosalazar.com/

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About: 310A Padre Blvd. #1109 · MLS# 29780320

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Listing office: KELLER WILLIAMS LRGV

Listing agent: Dina Rich

Office contact: 956-423-8877

MLS# 29780320 · Last updated Oct 19, 2026, 12:21 AM CT

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$1,200,000Est. cost $10,663/mo

310A Padre Blvd. #1109, South Padre Island, TX 78597

Description

Property details

Numbers for investors

Is it accurate?

What it leaves out

Location and drive times

Buying from Mexico with a loan?

Ask about this property

Ricardo Salazar

Schedule a showing (in person or by video)

Received.

3608 Gulf Blvd. #101, South Padre Island

5008 E Gulf #312, South Padre Island

5909 Padre Blvd., South Padre Island

115 Mesquite St. #B, South Padre Island

109 W Polaris #1, South Padre Island

310A Padre Blvd. #2404, South Padre Island

Want a second opinion on this one?