1168 Florida Ave · Corpus Christi, TX 78404

$104,500

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 26 Days on market

Built 1955 0.29 ac lot Est $163k · 36% under

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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 +29.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRING YOUR INVESTORS. THIS IS A REAL FIXER UPPER. VINYL SIDING, HARDWOOD FLOORS, GOOD ROOF, LARGE LOT LOCK BOX ON SIDE DOOR. CALL MARCUS FOR ADDENDUMS.

Key facts

• Faux fireplace
• Large lot
• Attached bonus room

Tags

• LARGE DINING AND LIVING AREAS
• FAUX FIREPLACE
• ATTACHED BONUS ROOM
• LARGE LOT
• 2 BLOCKS FROM DEL MAR COLLEGE

Property features AI

Finance

• Financial info: No financial details provided
• HOA & community: Short‑term rentals allowed

Exterior

• Parking: Detached front‑entry garage (1 covered space); Concrete parking; Total parking for 3 vehicles
• Security: No security features listed
• Utilities: Public water available; Public sewer available
• Home design: Single‑story home; Frame construction; Shingle roof; Pillar/post/pier foundation
• Construction: Built with frame construction
• Exterior features: Chain link partial fencing; Interior lot

Interior

• Kitchen: Electric oven; Electric range; Free‑standing range; Range hood
• Bedrooms: Bedroom count not provided
• Flooring: Carpet; Hardwood; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Window unit heating; Central air conditioning; Window unit cooling
• Interior features: No additional interior features listed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.6% in Corpus Christi — 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 78/100 on livability (#66 in TX, #2,404 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Corpus Christi ISD (urban): math 31% / reading 35% proficiency, ranked #562 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 141 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 31% of the median local income ($61k/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 $722 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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.
• Current owner paid $32k; list at $104k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $102,932 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.57%
• DSCR: 1.69
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $163,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1233 Brentwood Dr	0.23mi	3/1.0	1,229 (-5%)	6mo	$199,000	$162	76
636 Texas Ave	0.38mi	3/2.0	1,342 (+4%)	4mo	$149,900	$112	69
618 Ralston Ave	0.39mi	3/2.0	1,351 (+4%)	7mo	$162,000	$120	65
622 Atlantic St	0.53mi	2/1.0 (-1)	1,260 (-3%)	2mo	$110,000	$87	64
1302 York Ave	0.28mi	3/2.0	1,169 (-10%)	4mo	$99,999	$86	64
1541 Clodah Dr	0.71mi	3/1.5	1,255 (-3%)	6mo	$178,000	$142	55
641 Naples St	0.51mi	2/2.0 (-1)	1,376 (+6%)	4mo	$205,000	$149	54
525 Ohio Ave	0.51mi	3/2.0	1,421 (+10%)	7mo	$179,500	$126	50
2810 Topeka St	0.66mi	3/2.0	1,395 (+8%)	5mo	$199,900	$143	48
1350 Ormond Dr	0.62mi	3/2.0	1,389 (+7%)	8mo	$135,000	$97	48
1725 15th St	0.71mi	3/2.5	1,447 (+12%)	2mo	$190,000	$131	40
1438 Melbourne Dr	0.68mi	3/2.0	1,464 (+13%)	7mo	$129,900	$89	37

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $5,581
• Equity at exit: $15,581

10-year hold

• IRR: 13.3%
• Equity multiple: 2.00×
• Total profit: $29,329
• Equity at exit: $9,035

Cash invested: $29,260 (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 78404

• Rents YoY: 1.9%
• Active inventory: 141
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$548
• Tax from tax record: −$277 /mo · $3,328/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $380

Break-even live

Break-even rent $1,100

Max offer price $104,500

Occupancy floor 71%

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 York Ave Corpus Christi, TX	3.0	1.0	888	$1,550	$1.75	21d	1	0.23mi
1405 Annapolis Dr Corpus Christi, TX	3.0	1.5	1502	$2,000	$1.33	13d	1	0.44mi
200 Clemmer St Unit A Corpus Christi, TX	3.0	1.0	950	$1,199	$1.26	43d	1	0.49mi
225 Watson St Corpus Christi, TX	3.0	1.0	1472	$1,295	$0.88	43d	1	0.52mi
1446 Annapolis Dr Corpus Christi, TX	3.0	2.0	1500	$1,700	$1.13	43d	1	0.56mi
1802 16th St Unit B Corpus Christi, TX	3.0	1.0	1575	$1,000	$0.63	43d	1	0.62mi
455 Louisiana Ave Corpus Christi, TX	2.0	1.0	1528	$3,000	$1.96	21d	1	0.63mi
443 Indiana Ave Corpus Christi, TX	2.0	1.0	968	$1,650	$1.70	43d	1	0.64mi
1522 Cambridge Dr Corpus Christi, TX	3.0	1.5	1278	$1,600	$1.25	43d	1	0.68mi
332 Rosebud Ave Corpus Christi, TX	2.0	1.0	942	$1,150	$1.22	21d	1	0.79mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	13d	1	0.83mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	43d	1	0.84mi
309 Rosebud Ave Unit D Corpus Christi, TX	2.0	1.0	882	$1,100	$1.25	21d	1	0.85mi
2837 Santa Fe St Unit 2 Corpus Christi, TX	2.0	1.0	1030	$1,300	$1.26	13d	1	0.86mi
3314 Casa de Palmas Dr Corpus Christi, TX	3.0	2.0	1869	$2,300	$1.23	13d	1	0.87mi
1634 14th St Corpus Christi, TX	2.0	1.5	980	$1,090	$1.11	43d	1	0.88mi
2622 Cloyde St Corpus Christi, TX	2.0	1.0	1693	$1,150	$0.68	43d	1	0.88mi
4005 Green Grove Dr Corpus Christi, TX	3.0	2.0	1406	$1,695	$1.21	43d	1	0.96mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	13d	1	0.97mi
426 Palmero St Corpus Christi, TX	3.0	2.0	1720	$1,350	$0.78	43d	1	0.97mi
3102 Santa Fe St Corpus Christi, TX	1.0–2.0	1.0–2.0	922	$1,095	$1.19	43d	1	1.02mi
3333 S Alameda St Corpus Christi, TX	3.0	2.0	1000	$1,149	$1.15	43d	1	1.05mi
4241 Green Grove Dr Corpus Christi, TX	3.0	2.0	1345	$1,700	$1.26	43d	1	1.20mi
1410 Ray Dr Corpus Christi, TX	3.0	1.0	1224	$1,600	$1.31	13d	1	1.21mi
1318 6th St Corpus Christi, TX	2.0	1.0	900	$900	$1.00	13d	1	1.28mi
3509 Topeka St Corpus Christi, TX	2.0	1.0	1114	$1,850	$1.66	43d	1	1.31mi
2522 Cleo St Corpus Christi, TX	3.0	1.0	992	$1,350	$1.36	13d	1	1.32mi
4322 Kostoryz Rd Corpus Christi, TX	2.0	1.5	1100	$1,259	$1.14	43d	1	1.34mi
2106 Harvard St Corpus Christi, TX	3.0	1.0	912	$1,225	$1.34	43d	1	1.41mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	21d	1	1.42mi
3562 Topeka St Corpus Christi, TX	3.0	1.0	1208	$1,695	$1.40	13d	1	1.43mi
2041 Harvard St Corpus Christi, TX	3.0	2.0	1230	$1,400	$1.14	13d	1	1.45mi
1107 14th St Corpus Christi, TX	4.0	1.5	1520	$1,300	$0.86	43d	1	1.46mi
4326 Vestal St Corpus Christi, TX	3.0	1.0	984	$1,125	$1.14	13d	1	1.46mi
1837 Horne Rd Corpus Christi, TX	3.0	2.0	1226	$1,800	$1.47	43d	1	1.47mi

Listing history 22 events

1. 2026-06-18
   days on market $104,500 Active 26 DOM
2. 2026-06-17
   days on market $104,500 Active 25 DOM
3. 2026-06-16
   days on market $104,500 Active 24 DOM
4. 2026-06-15
   days on market $104,500 Active 23 DOM
5. 2026-06-14
   days on market $104,500 Active 21 DOM
6. 2026-06-10
   days on market $104,500 Active 18 DOM
7. 2026-06-09
   days on market $104,500 Active 17 DOM
8. 2026-06-08
   days on market $104,500 Active 16 DOM
9. 2026-06-07
   days on market $104,500 Active 15 DOM
10. 2026-06-05
    days on market $104,500 Active 12 DOM
11. 2026-06-03
    days on market $104,500 Active 11 DOM
12. 2026-06-02
    days on market $104,500 Active 10 DOM
13. 2026-06-01
    days on market $104,500 Active 9 DOM
14. 2026-06-01
    remarks 526-char remark
15. 2026-05-31
    days on market $104,500 Active 8 DOM
16. 2026-05-30
    days on market $104,500 Active 7 DOM
17. 2026-05-23
    listed $104,500 Active
18. 2026-04-27
    soldstatus
19. 2000-05-19
    soldstatus 151-char remark

    Show marketing remark (151 chars)

    BRING YOUR INVESTORS. THIS IS A REAL FIXER UPPER. VINYL SIDING, HARDWOOD FLOORS, GOOD ROOF, LARGE LOT LOCK BOX ON SIDE DOOR. CALL MARCUS FOR ADDENDUMS.

20. 2000-05-19
    soldstatus $32,000

    Show marketing remark (151 chars)

    BRING YOUR INVESTORS. THIS IS A REAL FIXER UPPER. VINYL SIDING, HARDWOOD FLOORS, GOOD ROOF, LARGE LOT LOCK BOX ON SIDE DOOR. CALL MARCUS FOR ADDENDUMS.

21. 2000-03-14
    listed $35,900 151-char remark

    Show marketing remark (151 chars)

    BRING YOUR INVESTORS. THIS IS A REAL FIXER UPPER. VINYL SIDING, HARDWOOD FLOORS, GOOD ROOF, LARGE LOT LOCK BOX ON SIDE DOOR. CALL MARCUS FOR ADDENDUMS.

22. 1998-08-20
    listed $49,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,328 · $277/mo
• Projected year-2 tax: $3,328 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,964
• − Mortgage interest: −$5,854
• − Property taxes: −$3,328
• − Insurance: −$522
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$3,040
• Taxable income: $3,186
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,791/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.

Schools (NCES district)

• District: Corpus Christi ISD
• NCES district ID: 4815270
• Math proficiency: 31% ▼ -18.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $45,672
• Composite: 28.27/100
• National rank: #6793
• State rank: #562 of 826 in TX

Livability — Corpus Christi

• Score: 78/100
• State rank: #66
• US rank: #2404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corpus Christi, TX
• County: Nueces County · 296,836 people
• City population: 296,836
• Metro: Corpus Christi, TX
• Population (ZIP): 12,635
• Household income: $61,280
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 596.0

Population outlook (Nueces County) Hauer SSP2

• Today (2025): 418,037 people
• By 2030: 447,123 · +7.0%
• By 2040: 505,911 · +21.0%
• By 2050: 567,522 · +35.8%
• By 2075: 729,686 · +74.6%
• By 2100: 847,087 · +102.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% White 32% Two or more races 29% Black 4%
• Hispanic origin (detail): Mexican 56%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 61% English-only · Spanish 39%

Political lean MEDSL · Nueces

• 2024 margin: R (+11.5) · D 43.8% · R 55.3%
• 2008→2024 swing: -7.1pp toward R · 2008: -4.4pp · 2024: -11.5pp
• All cycles: 2024: R+11.5 2020: R+2.9 2016: R+1.5 2012: R+3.2 2008: R+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.10%
• Current HPI: 177.4759
• Rent YoY: ▲ 1.87%
• Metro: Corpus Christi, TX
• 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

+109.4% since first listed

6 events — show timeline

• 2026-05-23 Listed $104,500 CBMLS
• 2026-04-27 Sold (Public Records) — Public Records
• 2000-05-19 Sold (Public Records) $32,000 Public Records
• 2000-05-19 Sold (MLS) — CBMLS
• 2000-03-14 Listed $35,900 CBMLS
• 1998-08-20 Listed $49,900 CBMLS

Property tax history

+5.4%/yr

Latest (2025): $3,328 · +12.0% YoY. Source: county tax records.