Is 6317 Hwy. 361 #6214 in Corpus Christi, TX a good investment?

CashFlowRE grades it D- with a -2.6% cap rate and $-1,238/mo modeled cash flow at a $167,500 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 6317 Hwy. 361 #6214?

The modeled cap rate is -2.6% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,436/month, from CashFlowRE's rent model.

D- Composite 39.52

Why this score? — see what drove the D- 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).

ARV discount +12.5/15.0
1% rule +9.5/10.0
Schools +6.3/10.0
Condition / age +4.8/5.0
Livability +3.9/5.0
Rent growth +2.5/5.0
Cash flow +0.0/30.0
DSCR +0.0/10.0
Appreciation +0.0/10.0

$167,500

6317 Hwy. 361 #6214 · Corpus Christi, TX 78373

2 bd · 2.0 ba · 1,360 sqft · Condo · 207 Days on market

Built 1985 Excellent condition $123/sqft · 11% below area Est $189k · 11% under $2005/mo HOA · 82% of rent ↓ 1% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Enjoy resort living at it's best in this 2 bedroom, 2 bath condo overlooking the Gulf. Open kitchen, living and dining is great for all gatherings. Beautifully furnished and all furnishings convey. Master bath has a beautiful walk in shower and recent updates include luxury vinyl plank flooring throughout and a glass top stove. Seller is current with special assessment payments and HOA dues. Port Royal is a true island resort with a huge lagoon pool, slides, hot tubs, swim up bar, splash pad and heated lap pool. There is a grilling area, full restaurant and private boardwalk to the beach. Covered, assigned parking for 2 is just below the condo.

Key facts

Huge lagoon pool
Glass top stove
Overlooking the gulf

What this means for you Summary

Snapshot

This is a 2-bed/2.0-bath condo listed at $168k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
Rent doesn't cover operating costs at any purchase price — skip.
Meets the 1% rule at list price ($2k rent vs $168k).
Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
Cap rate -2.6% vs local median 3.9% in Corpus Christi — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
Port Aransas ISD (rural): math 57% / reading 63% proficiency, ranked #68 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
Zoned schools: Olsen El (math 47% / reading 57%, grade C-, #742 of 4,322 statewide, top 19%, 227 students, 35% FRL); Brundrett Middle (math 57% / reading 67%, grade B+, #134 of 1,662 statewide, top 8%, 115 students, 31% FRL); Port Aransas H S (math 74% / reading 74%, grade B+, #82 of 1,632 statewide, top 6%, 204 students, 19% FRL).
Market conditions: 1273 active listings in the ZIP; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
This rent runs 32% of the median local income ($90k/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 $1k of loan paydown is wiped out by about $5k 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 207 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
3 sale attempts since 3y 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.

Risks & watch-outs

Watch-outs: HOA is 82% of rent.

Recommended offer $147,400 (12.0% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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.
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.
How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

1% rule: 1.45% ✓
Cap rate: -2.58%
Cash-on-cash: -31.68%
DSCR: -0.41
GRM: 5.7

CMA / ARV

ARV (median comp): $188,657
List price: $167,500
Delta: -11.21%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6317 State Highway 361 #3212	0.01mi	2/2.0	1,360 (0%)	5mo	$119,000	$88	95
6317 State Highway 361 #2302	0.01mi	3/2.0 (+1)	1,386 (+2%)	0mo	$199,900	$144	91
6317 Hwy. 361 #3308	0.00mi	2/2.0	1,454 (+7%)	4mo	$165,000	$113	85
6109 State Highway 361 #204	0.36mi	3/2.5 (+1)	1,484 (+9%)	4mo	$395,000	$266	58
5973 State Highway 361 #124	0.66mi	3/2.0 (+1)	1,250 (-8%)	4mo	$147,888	$118	48
5973 State Hwy 361 #235	0.66mi	3/2.0 (+1)	1,250 (-8%)	5mo	$379,000	$303	46
250 Tailwind Dr Unit D	0.68mi	2/2.5	1,218 (-10%)	6mo	$895,000	$735	44
5973 State Highway 361 #326	0.66mi	2/2.0	1,040 (-24%)	1mo	$217,000	$209	44
5973 Highway 361 #212	0.65mi	2/2.0	1,040 (-24%)	5mo	$137,000	$132	40
201 Laughing Gull Ln Unit C	1.24mi	2/3.0	1,565 (+15%)	1mo	$1,095,000	$700	36
201 Laughing Gull Ln Unit A	1.24mi	2/3.0	1,565 (+15%)	1mo	$1,095,000	$700	35
6649 Seacomber Dr #1110	0.69mi	3/2.5 (+1)	1,678 (+23%)	3mo	$879,000	$524	33

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 · 3.0% rent growth · sell at horizon

5-year hold

IRR: -90.6%
Equity multiple: -1.23×
Total profit: $-104,737
Equity at exit: $24,975

10-year hold

IRR: —
Equity multiple: -3.00×
Total profit: $-187,598
Equity at exit: $14,482

Cash invested: $46,900 (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 →

Active competition Active MLS

For sale now: 1 active · 2 under contract
Median asking: $255,000 ($237/sqft)
Median days on market: 186 d
This list price: lowest-priced of the active set
ARV vs active asking: -41.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78373

Active inventory: 1273
Price-to-rent: 5.7×

Monthly cashflow live

Estimated rent: $2,436 medium interval (Pro) →
Mortgage (P&I): −$878
Tax est. 1.5%: −$209 /mo · $2,512/yr
Insurance: −$70
HOA: −$2,005
Lot rent: −$0
Vacancy / Maint / Mgmt: −$512
Net cashflow: $-1,238

Break-even live

Break-even rent $4,003

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,122	-5% $-1,180	+0% $-1,238	+5% $-1,296	+10% $-1,354
Rent	-10% $-1,431	-5% $-1,334	+0% $-1,238	+5% $-1,142	+10% $-1,046
Rate	-1.0pp $-1,154	-0.5pp $-1,196	base $-1,238	+0.5pp $-1,282	+1.0pp $-1,326

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: $41,875
Closing costs: $5,025
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Property features AI

Finance

Other: Short-term rentals allowed
HOA & community: Homeowner association with monthly feeAssociation amenities include beach rights, beach access, clubhouse, pool, and spa/hot tubAssociation fee covers common areas, cable TV, insurance, internet, grounds maintenance, structure maintenance, security, trash, and water

Exterior

Parking: Assigned covered parking for 2 vehicles
Utilities: Municipal utilitiesPublic sewer available
Home design: Single-story propertyPillar/post/pier foundationMetal roofConcrete and stucco construction
Construction: Concrete and stucco constructionMetal roofPillar/post/pier foundationBuilt on one story
Exterior features: DeckCovered deck/patioHot tub / spaPrivate in-ground concrete poolBeachfront lotWaterfront with Gulf access and ocean accessScenic view

Interior

Kitchen: DishwasherElectric ovenElectric rangeDisposalMicrowaveRefrigerator
Flooring: Luxury vinyl plank
Bathrooms: 2 full bathrooms
Heating & cooling: Central heating (electric)Central air conditioning
Interior features: Window coveringsCable TVWindow treatmentsBreakfast bar
Laundry & utility: WasherDryer

HOA detail $2,005/mo · $24,060/yr condo

Likely covers: poolparking
⚠ Special-assessment mentions: …shower and recent updates include luxury vinyl plank flooring throughout and a glass top stove. Seller is current with special assessment payments and HOA dues. Port Royal is a true island resort with a huge lagoon pool, slides, hot tubs, swim up bar,…

Listing history 50 events

2026-11-08

days on market $167,500 Active 207 DOM
2026-11-07

days on market $167,500 Active 206 DOM
2026-11-06

days on market $167,500 Active 205 DOM
2026-11-05

days on market $167,500 Active 204 DOM
2026-11-04

days on market $167,500 Active 203 DOM
2026-11-02

days on market $167,500 Active 201 DOM
2026-11-01

days on market $167,500 Active 200 DOM
2026-10-31

days on market $167,500 Active 199 DOM
2026-10-30

days on market $167,500 Active 198 DOM
2026-10-29

days on market $167,500 Active 197 DOM
2026-10-28

days on market $167,500 Active 196 DOM
2026-10-27

days on market $167,500 Active 195 DOM
2026-10-26

days on market $167,500 Active 194 DOM
2026-10-26

days on market $167,500 Active 193 DOM
2026-10-24

days on market $167,500 Active 192 DOM
2026-10-23

days on market $167,500 Active 191 DOM
2026-10-22

days on market $167,500 Active 190 DOM
2026-10-21

days on market $167,500 Active 189 DOM
2026-10-20

days on market $167,500 Active 188 DOM
2026-10-19

days on market $167,500 Active 187 DOM
2026-10-18

days on market $167,500 Active 186 DOM
2026-10-17

days on market $167,500 Active 185 DOM
2026-10-16

days on market $167,500 Active 184 DOM
2026-10-15

days on market $167,500 Active 183 DOM
2026-10-14

days on market $167,500 Active 182 DOM
2026-10-13

days on market $167,500 Active 181 DOM
2026-10-12

days on market $167,500 Active 180 DOM
2026-10-11

days on market $167,500 Active 179 DOM
2026-10-10

days on market $167,500 Active 178 DOM
2026-10-09

days on market $167,500 Active 177 DOM
2026-10-08

days on market $167,500 Active 176 DOM
2026-10-07

days on market $167,500 Active 175 DOM
2026-10-06

days on market $167,500 Active 174 DOM
2026-10-05

days on market $167,500 Active 173 DOM
2026-10-04

days on market $167,500 Active 172 DOM
2026-10-03

days on market $167,500 Active 171 DOM
2026-10-02

days on market $167,500 Active 170 DOM
2026-10-01

days on market $167,500 Active 169 DOM
2026-09-30

days on market $167,500 Active 168 DOM
2026-09-29

days on market $167,500 Active 167 DOM
2026-09-28

days on market $167,500 Active 166 DOM
2026-09-27

days on market $167,500 Active 165 DOM
2026-09-26

days on market $167,500 Active 164 DOM
2026-09-25

days on market $167,500 Active 163 DOM
2026-09-24

days on market $167,500 Active 162 DOM
2026-09-23

days on market $167,500 Active 161 DOM
2026-09-22

days on market $167,500 Active 160 DOM
2026-09-21

days on market $167,500 Active 159 DOM
2026-09-20

days on market $167,500 Active 158 DOM
2026-09-18

days on market $167,500 Active 156 DOM

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $29,230
− Mortgage interest: −$9,383
− Property taxes: −$2,512
− Insurance: −$838
− Repairs & maintenance: −$2,338
− Management: −$2,338
− HOA: −$24,060
− Depreciation: −$4,873
Taxable loss: −$17,112

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$4,107
After-tax cash flow: $-10,752/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This 2-bedroom, 2-bath condo is in excellent condition with a beautiful pool area and ocean views. It has good potential for value increase with minor updates to the interior.

Value-add opportunities

Both Painting the interior walls and updating the kitchen appliances and flooring. — Updating the interior will make the space more appealing and modern, increasing both resale and rental value. ↑
Both Updating the kitchen appliances and flooring. — Updating the kitchen will make the space more modern and functional, increasing both resale and rental value. ↑
Both Painting the interior walls. — Painting the interior walls will make the space more appealing and modern, increasing both resale and rental value. ↑

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Olsen El C- TX #742/4,322 Nat'l #11,263/41,679 Middle Brundrett Middle B+ TX #134/1,662 Nat'l #1,545/14,009 High Port Aransas H S B+ TX #82/1,632 Nat'l #1,629/17,239

Schools (NCES district)

District: Port Aransas ISD
NCES district ID: 4835370
Math proficiency: 57% ▼ -9.00%
Reading proficiency: 63% ▼ -2.00%
Median HH income: $47,528
Composite: 50.82/100
National rank: #1803
State rank: #68 of 826 in TX

B Composite livability gradescore 78/100

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 · 418,037 people
City population: 296,836
Metro: Corpus Christi, TX
Population (ZIP): 3,314
Household income: $90,000
Rent vs Own: 25.1% rent · 74.9% own
Severe rent burden: 20% of renters

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 White (87%)
Race & ethnicity: White 87% Two or more races 9% Hispanic / Latino 4%
Languages at home: 92% English-only · Other Indo-European 4% Spanish 3%

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: ▼ -205.54%
Current HPI: 268.699
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
#8 Exxon Mobil Spring $349.6B #16 Chevron Houston $202.8B #28 Phillips 66 Houston $145.5B #34 Valero Energy San Antonio $124.0B #53 Energy Transfer Dallas $82.7B #75 ConocoPhillips Houston $57.0B #78 Enterprise Products Partners Houston $56.2B #92 Plains GP Holdings Houston $50.1B #134 HF Sinclair Dallas $29.6B #142 Occidental Petroleum Houston $26.3B #173 Targa Resources Houston $19.4B #188 Cheniere Energy Houston $17.6B #239 Kinder Morgan Houston $15.3B #419 APA Corporation Houston $8.6B #393 Cabot Oil & Gas Houston $7.9B #455 Coterra Energy Houston $5.8B
Technology	5	$198B
#44 Dell Technologies Round Rock $95.6B #87 Oracle Austin $53.0B #132 Hewlett Packard Enterprise Spring $30.1B #193 Texas Instruments Dallas $16.3B #406 Match Group Dallas $3.4B
Engineering / Construction	4	$72B
#228 Quanta Services Houston $23.7B #258 Jacobs Solutions Dallas $16.3B #318 AECOM Dallas $16.1B #279 Fluor Irving $16.1B
Energy Services	3	$60B
#136 Baker Hughes Houston $28.5B #154 Halliburton Houston $23.1B #368 Smith International Houston $8.4B
Utilities	3	$41B
#194 Vistra Irving $16.3B #211 NRG Energy Houston $15.4B #259 CenterPoint Energy Houston $9.4B
Healthcare	2	$330B
#9 McKesson Irving $309.0B #163 Tenet Healthcare Dallas $20.6B

Price history

-1.5% since first listed

5 events — show timeline

2026-04-11 Delisted — CBMLS
2026-04-10 Listed $167,500 CBMLS
2026-04-03 Listed $167,500 CBMLS
2024-07-16 Price Changed $165,000 CBMLS
2023-07-22 Listed $170,000 CBMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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