917 Ligustrum Dr · Corpus Christi, TX 78408

$119,900

3 bd · 1.5 ba · 1,060 sqft · SingleFamily public records · 113 Days on market

Built 1950 6,743 sqft lot $113/sqft · at area comps Est $117k · at est.

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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 +27.5/30.0
• DSCR +9.7/10.0
• Appreciation +9.2/10.0
• 1% rule +7.4/10.0
• ARV discount +6.5/15.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this cozy 3bed 2bath unfurnished home. Calling all first-time buyers and investors don't miss the perfect opportunity! Located just 6 minutes from Downtown beach area. Easy access to highway and shopping centers. Being SOLD AS IS no repairs will be made. Schedule a viewing today!

Key facts

• Shopping centers
• Downtown beach area
• 6,743 sq ft lot

Tags

• DOWNTOWN BEACH AREA
• EASY ACCESS TO HIGHWAY
• SHOPPING CENTERS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: 36 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($829 loan paydown + $10k appreciation (8.5% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $120k implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.24% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (median comp): $117,312
• List price: $119,900
• Delta: 2.21%
• 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
921 Nandina Dr	0.06mi	3/1.0	1,057 (-0%)	13mo	$72,000	$68	84
937 Nandina Dr	0.06mi	4/2.0 (+1)	1,111 (+5%)	1mo	$149,500	$135	82
946 Erwin Ave	0.15mi	3/1.0	950 (-10%)	4mo	$60,000	$63	70
3218 Buddy Lawrence Dr	0.12mi	2/1.0 (-1)	960 (-9%)	5mo	$124,000	$129	68
423 Fairview Dr	0.48mi	3/1.5	1,110 (+5%)	4mo	$120,000	$108	66
1018 Gardenia Dr	0.11mi	3/2.0	1,188 (+12%)	12mo	$149,900	$126	62
251 W Longview St	0.66mi	3/1.0	1,013 (-4%)	2mo	$59,000	$58	58
357 W Saxet Dr	0.71mi	3/1.0	1,128 (+6%)	11mo	$188,900	$167	45
754 Avondale Dr	0.65mi	2/1.0 (-1)	1,166 (+10%)	4mo	$116,000	$99	43
341 W Saxet Dr	0.75mi	2/1.0 (-1)	1,156 (+9%)	5mo	$142,500	$123	39
4425 N Cornelia Cir	0.62mi	2/1.0 (-1)	910 (-14%)	2mo	$94,800	$104	39
541 Villa Dr	0.73mi	2/1.0 (-1)	928 (-12%)	9mo	$46,900	$51	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 3.26×
• Total profit: $75,827
• Equity at exit: $95,099

10-year hold

• IRR: 27.3%
• Equity multiple: 7.06×
• Total profit: $203,473
• Equity at exit: $192,727

Cash invested: $33,572 (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 78408

• Home prices YoY: 6.8%
• Active inventory: 36
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,486 high
• Mortgage (P&I): −$629
• Tax from tax record: −$140 /mo · $1,678/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $356

Break-even live

Break-even rent $1,036

Max offer price $119,900

Occupancy floor 71%

Sensitivity live

Price	-10% $424	-5% $390	+0% $356	+5% $322	+10% $288
Rent	-10% $238	-5% $297	+0% $356	+5% $414	+10% $473
Rate	-1.0pp $416	-0.5pp $386	base $356	+0.5pp $325	+1.0pp $293

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	14d	6	0.21mi
2726 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1300	$2,095	$1.61	44d	1	0.39mi
2706 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1369	$2,095	$1.53	44d	1	0.39mi
3302 Up River Rd Corpus Christi, TX	2.0	1.0	710	$699	$0.98	14d	1	0.42mi
4505 Up River Rd Corpus Christi, TX	2.0	1.0	966	$1,450	$1.50	14d	1	0.64mi
2245 Comanche St Unit A Corpus Christi, TX	3.0	1.0	1016	$1,350	$1.33	22d	1	1.10mi

Listing history 17 events

1. 2026-06-18
   days on market $119,900 Active 113 DOM
2. 2026-06-17
   days on market $119,900 Active 112 DOM
3. 2026-06-16
   days on market $119,900 Active 111 DOM
4. 2026-06-15
   days on market $119,900 Active 110 DOM
5. 2026-06-14
   days on market $119,900 Active 108 DOM
6. 2026-06-10
   days on market $119,900 Active 105 DOM
7. 2026-06-09
   days on market $119,900 Active 104 DOM
8. 2026-06-08
   days on market $119,900 Active 103 DOM
9. 2026-06-07
   days on market $119,900 Active 102 DOM
10. 2026-06-05
    days on market $119,900 Active 99 DOM
11. 2026-06-03
    days on market $119,900 Active 98 DOM
12. 2026-06-02
    days on market $119,900 Active 97 DOM
13. 2026-06-01
    days on market $119,900 Active 96 DOM
14. 2026-05-31
    days on market $119,900 Active 95 DOM
15. 2026-05-30
    days on market $119,900 Active 94 DOM
16. 2026-02-25
    listed $135,000 Active 291-char remark

    Show marketing remark (291 chars)

    Welcome to this cozy 3bed 2bath unfurnished home. Calling all first-time buyers and investors don't miss the perfect opportunity! Located just 6 minutes from Downtown beach area. Easy access to highway and shopping centers. Being SOLD AS IS no repairs will be made. Schedule a viewing today!

17. 1992-10-15
    soldstatus $25,000

ⓘ 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: $1,678 · $140/mo
• Projected year-2 tax: $2,194 · $183/mo
• Expected delta: +$516/yr (+$43/mo · 30.7%)

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

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: $17,836
• − Mortgage interest: −$6,716
• − Property taxes: −$1,678
• − Insurance: −$600
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$3,488
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $3,668/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
• City population: 296,836
• Population (ZIP): 9,631

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: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 39% White 8% Black 7%
• Hispanic origin (detail): Mexican 78%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 46% English-only · Spanish 53% Vietnamese 1%

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: ▲ 8.49%
• Current HPI: 132.544
• 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

+440.0% since first listed

2 events — show timeline

• 2026-02-25 Listed $135,000 CBMLS
• 1992-10-15 Sold (Public Records) $25,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,678 · +12.0% YoY. Source: county tax records.