2702 Riggan St · Corpus Christi, TX 78404

$49,600

6 bd · 3.0 ba · 2,145 sqft · SingleFamily public records · 229 Days on market

Built 1949 9,753 sqft lot $23/sqft · 59% below area ↓ 33% since listing

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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 +3.9/5.0
• 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

Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

Key facts

• Split-bedroom layout
• Covered carport
• Large backyard

Tags

• TWO LIVING AREAS
• SPLIT-BEDROOM LAYOUT
• LARGE BACKYARD
• COVERED CARPORT
• SPACIOUS FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.7% 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; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 37% 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 $343 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $43,648 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 3.76% ✓
• Cap rate: 33.66%
• Cash-on-cash: 97.73%
• DSCR: 5.35
• GRM: 2.2

CMA / ARV

• ARV (median comp): $146,148
• List price: $49,600
• Delta: -66.06%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2002 Craig St	0.73mi	5/2.0 (-1)	1,890 (-12%)	23mo	$205,000	$108	18

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: 97.4%
• Equity multiple: 5.46×
• Total profit: $61,933
• Equity at exit: $7,396

10-year hold

• IRR: 99.9%
• Equity multiple: 10.97×
• Total profit: $138,394
• Equity at exit: $4,289

Cash invested: $13,888 (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: 2.2×

Monthly cashflow live

• Estimated rent: $1,866 medium
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $744/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $1,131

Break-even live

Break-even rent $434

Max offer price $49,600

Occupancy floor 34%

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: $12,400
• Closing costs: $1,488
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-20
   status Pending 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

2. 2026-04-30
   price $49,600 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

3. 2026-03-31
   price $55,800 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

4. 2026-02-20
   price $58,900 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

5. 2026-01-31
   price $70,300 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

6. 2026-01-11
   price $74,000 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

7. 2025-11-03
   price $70,300 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

8. 2025-10-02
   listed $74,000 Active 942-char remark

   Show marketing remark (942 chars)

   Spacious 6-Bedroom Home with Endless Potential! Bring your vision and make this 2-story home your own! Offering over 2,600 square feet of living space, this 6-bedroom, 3-bathroom property provides plenty of room for a large household, multi-generational living, or an investment opportunity. Inside, you’ll find two living areas, a split-bedroom layout for privacy, and abundant space to customize to your needs. The large backyard is perfect for entertaining, gardening, or creating your dream outdoor retreat. A covered carport adds convenience and functionality. With solid bones and a spacious floor plan, this home is ready for updates and your personal touches. Whether you’re an investor or a homeowner looking for a project, this home has great potential to be transformed into a beautiful property. Don’t miss the chance to turn this diamond in the rough into something extraordinary—schedule a viewing today!

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $22,388
• − Mortgage interest: −$2,778
• − Property taxes: −$744
• − Insurance: −$248
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$1,443
• Taxable income: $13,593
• Est. tax owed @ 24.0%: −$3,262
• After-tax cash flow: $10,311/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

-33.0% since first listed

8 events — show timeline

• 2026-05-20 Pending — CBMLS
• 2026-04-30 Price Changed $49,600 CBMLS
• 2026-03-31 Price Changed $55,800 CBMLS
• 2026-02-20 Price Changed $58,900 CBMLS
• 2026-01-31 Price Changed $70,300 CBMLS
• 2026-01-11 Price Changed $74,000 CBMLS
• 2025-11-03 Price Changed $70,300 CBMLS
• 2025-10-02 Listed $74,000 CBMLS

Property tax history

+6.6%/yr

Latest (2025): $4,311 · +12.0% YoY. Source: county tax records.