88 Townhouse Ln Unit L88 · Corpus Christi, TX 78412

$119,900

3 bd · 2.5 ba · 1,755 sqft · Townhouse public records · 68 Days on market

Built 1971 4,792 sqft lot Est $205k · 42% under $350/mo HOA · 17% of rent

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Why this score? — see what drove the C+ 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 +18.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.0/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom, 2.5 bath 2 story townhome with 2 car garage located in Carrige Park Town House. This propertyhas now been entered into an online auction. The first online event will begin on4-5-26 thru 4-7-26.

Key facts

• $350 HOA
• 2 garage spots
• Built 1971

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 soft (-1.5%/yr); 207 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 39% 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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $76k; list at $120k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.68% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $205,335
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Townhouse #88	0.00mi	3/2.5	1,755 (0%)	1mo	$119,900	$68	99
88 Townhouse Ln Unit L88	0.00mi	3/2.5	1,755 (0%)	1mo	$119,900	$68	99
27 Townhouse	0.08mi	3/2.5	1,746 (-0%)	11mo	$229,900	$132	86
42 Townhouse	0.03mi	3/2.5	1,751 (-0%)	15mo	$198,000	$113	86
47 Townhouse	0.02mi	2/2.5 (-1)	1,728 (-2%)	7mo	$249,000	$144	86
20 Townhouse	0.03mi	2/2.5 (-1)	1,712 (-2%)	8mo	$200,000	$117	82
41 Townhouse	0.03mi	2/2.5 (-1)	1,663 (-5%)	3mo	$159,000	$96	82
44 Rock Creek Dr #44	0.22mi	2/2.5 (-1)	1,614 (-8%)	3mo	$230,000	$143	69
73 Townhouse	0.10mi	3/2.5	2,015 (+15%)	9mo	$244,000	$121	63
22 Townhouse Ln	0.06mi	3/3.0	1,977 (+13%)	15mo	$189,000	$96	62
15 Rock Creek Dr	0.17mi	3/3.0	1,997 (+14%)	8mo	$299,000	$150	61
91 Townhouse Ln	0.11mi	2/2.0 (-1)	1,496 (-15%)	9mo	$149,000	$100	56

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.49×
• Total profit: $-17,062
• Equity at exit: $17,877

10-year hold

• IRR: -18.7%
• Equity multiple: 0.23×
• Total profit: $-25,831
• Equity at exit: $10,367

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 78412

• Rents YoY: -1.5%
• Active inventory: 207
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$629
• Tax from tax record: −$437 /mo · $5,248/yr
• Insurance: −$50
• HOA: −$350
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $123

Break-even live

Break-even rent $1,856

Max offer price $119,900

Occupancy floor 89%

Sensitivity live

Price	-10% $191	-5% $157	+0% $123	+5% $89	+10% $55
Rent	-10% $-36	-5% $44	+0% $123	+5% $203	+10% $282
Rate	-1.0pp $183	-0.5pp $154	base $123	+0.5pp $92	+1.0pp $60

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 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Rock Creek Dr Corpus Christi, TX	3.0	2.5	2450	$1,950	$0.80	22d	1	0.14mi
16 Rock Creek Dr #16 Corpus Christi, TX	3.0	3.0	2450	$1,955	$0.80	22d	1	0.14mi
1701 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1035	$2,259	$2.18	14d	25	0.42mi
1514 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1164	$2,285	$1.96	14d	1	0.48mi
1802 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1030	$1,962	$1.90	14d	36	0.80mi
6845 Rhine Dr Corpus Christi, TX	3.0	1.5	1518	$1,695	$1.12	44d	1	0.86mi
6629 Rhine Dr Unit A Corpus Christi, TX	3.0	2.0	1350	$1,695	$1.26	14d	1	0.98mi
7430 Cessna Dr Corpus Christi, TX	3.0	2.0	1370	$2,000	$1.46	44d	1	1.00mi
6433 Aspenwood Dr Corpus Christi, TX	3.0	2.0	1465	$1,750	$1.19	44d	1	1.04mi
6530 Ample Arbor Ct Corpus Christi, TX	3.0	2.5	2256	$2,400	$1.06	44d	1	1.12mi
7454 Seal Beach Ct Corpus Christi, TX	3.0	2.0	1571	$2,250	$1.43	14d	1	1.14mi
7454 Seal Beach Ct Corpus Christi, TX	3.0	2.0	1571	$2,250	$1.43	22d	1	1.14mi
7610 Quartz Dr Corpus Christi, TX	3.0	2.0	1538	$2,195	$1.43	44d	1	1.24mi
2221 Crystal Bay Dr Corpus Christi, TX	4.0	2.0	1705	$2,200	$1.29	14d	1	1.28mi
2001 Woodbend Dr Corpus Christi, TX	2.0–3.0	2.0	1267	$2,204	$1.74	14d	17	1.31mi
7617 Diamond Dr Corpus Christi, TX	4.0	3.0	2312	$2,795	$1.21	14d	1	1.34mi
7325 Clapton Dr Corpus Christi, TX	4.0	3.0	1900	$2,900	$1.53	44d	1	1.42mi
6617 Meadowbreeze Pkwy Corpus Christi, TX	3.0	2.0	1284	$1,800	$1.40	45d	1	1.43mi
6606 Riding Wind Dr Corpus Christi, TX	3.0	2.0	1325	$1,950	$1.47	44d	1	1.49mi

HOA detail

• Monthly dues: $350 · $4,200/yr

Listing history 8 events

1. 2026-04-14
   status Pending
2. 2026-03-20
   price $119,900
3. 2026-03-16
   price $124,900
4. 2026-03-07
   price $129,900
5. 2026-02-11
   price $139,900
6. 2026-02-05
   listed $149,900 Active
7. 2022-04-01
   soldstatus
8. 1989-05-30
   soldstatus $76,000

ⓘ 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: $5,248 · $437/mo
• Projected year-2 tax: $5,248 · $437/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,139
• − Mortgage interest: −$6,716
• − Property taxes: −$5,248
• − Insurance: −$600
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − HOA: −$4,200
• − Depreciation: −$3,488
• Taxable income: $25
• Est. tax owed @ 24.0%: −$6
• After-tax cash flow: $1,471/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): 38,631
• Household income: $61,215
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1932.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 57% White 34% Two or more races 29% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 22% Other Indo-European 1% 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: ▼ -255.29%
• Current HPI: 177.36
• Rent YoY: ▼ -1.53%
• 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

+57.8% since first listed

8 events — show timeline

• 2026-04-14 Pending — NTREIS
• 2026-03-20 Price Changed $119,900 NTREIS
• 2026-03-16 Price Changed $124,900 NTREIS
• 2026-03-07 Price Changed $129,900 NTREIS
• 2026-02-11 Price Changed $139,900 NTREIS
• 2026-02-05 Listed $149,900 NTREIS
• 2022-04-01 Sold (Public Records) — Public Records
• 1989-05-30 Sold (Public Records) $76,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $5,248 · +24.8% YoY. Source: county tax records.