None · Corpus Christi, TX 78404

$320,000

None bd · None ba · 3,360 sqft · MultiFamily public records · 85 Days on market

Built 1961 9,387 sqft lot $95/sqft · 25% above area Est $256k · 25% over

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great one bedroom, 1 bath, living area, kitchen, close to Corpus Christi Bay; close to Del Mar College, minutes to Texas A & M and the Naval Air Station. Detach 4 car carport and laundry room.

Key facts

• Laundry room
• Carport
• 4 parking spots

Tags

• CARPORT
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a multifamily listed at $320k.

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 ($4k rent vs $320k).
• Recommended offer: $301k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% 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).
• At $4,272/mo this rent would consume 84% of the median local household income ($61k/yr) (locally 596% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 $90k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y 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

• Climate carrying-cost: moderate flood risk; 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 $300,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 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 1961 — 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 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: 1.33% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

• ARV (median comp): $256,458
• List price: $320,000
• Delta: 24.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2107 16th St	0.00mi	4/4.0	3,360 (0%)	18mo	$242,900	$72	84
118 Tarlton St	0.60mi	13/—	3,300 (-2%)	8mo	$145,000	$44	63

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: 4.8%
• Equity multiple: 1.18×
• Total profit: $16,562
• Equity at exit: $47,713

10-year hold

• IRR: 13.2%
• Equity multiple: 2.00×
• Total profit: $89,640
• Equity at exit: $27,668

Cash invested: $89,600 (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: 25.0×

Monthly cashflow live

• Estimated rent: $4,272 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$415 /mo · $4,980/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$897
• Net cashflow: $1,148

Break-even live

Break-even rent $2,818

Max offer price $320,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,330	-5% $1,239	+0% $1,148	+5% $1,058	+10% $967
Rent	-10% $811	-5% $980	+0% $1,148	+5% $1,317	+10% $1,486
Rate	-1.0pp $1,310	-0.5pp $1,230	base $1,148	+0.5pp $1,066	+1.0pp $981

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,272
Total (4 units)			$4,272

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
465 Texas Ave Corpus Christi, TX	2.0	1.0	4048	$895	$0.22	44d	1	0.44mi
1513 10th St #1 Corpus Christi, TX	2.0	1.0	2780	$950	$0.34	44d	1	0.73mi
253 Rosebud Ave Unit 4 Corpus Christi, TX	1.0	1.0	4648	$795	$0.17	44d	1	0.75mi
253 Rosebud Ave #3 Corpus Christi, TX	2.0	1.0	4648	$895	$0.19	44d	1	0.75mi
638 Glazebrook St Unit 1 Corpus Christi, TX	1.0	1.0	3284	$680	$0.21	44d	1	0.97mi
1117 Ocean Dr Unit A Corpus Christi, TX	2.0	1.0	3086	$3,500	$1.13	44d	1	1.12mi
1117 Ocean Dr Unit D Corpus Christi, TX	1.0	1.0	3086	$2,000	$0.65	22d	1	1.12mi
1117 Ocean Dr Corpus Christi, TX	1.0	1.0	3086	$2,000	$0.65	44d	1	1.12mi
3450 S Alameda St Corpus Christi, TX	3.0	1.5	2342	$1,350	$0.58	44d	1	1.44mi

Listing history 13 events

1. 2026-03-05
   listed $320,000 Active 196-char remark

   Show marketing remark (196 chars)

   Great one bedroom, 1 bath, living area, kitchen, close to Corpus Christi Bay; close to Del Mar College, minutes to Texas A & M and the Naval Air Station. Detach 4 car carport and laundry room.

2. 2024-12-06
   soldstatus Closed 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

3. 2024-12-06
   soldstatus

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

4. 2024-12-05
   status Pending 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

5. 2024-08-09
   price $242,900 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

6. 2024-05-31
   price $292,999 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

7. 2024-05-06
   price $299,999 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

8. 2024-03-07
   listed $310,999 Active 755-char remark

   Show marketing remark (755 chars)

   New Price! Add this 4 plex to your rental portfolio! Great one bedroom one bath per unit complex, best location; close to Corpus Christi Bay, Del Mar College, minutes to Texas A & M University and the Military Base, Downtown, Entertainment, Restaurants, Shopping, and Highways for direct access to other amazing city attractions! One Bedrooms One Bath with individual utility meters for each unit. Ample Units that can be converted to a 2 bedroom. The living room is big enough to feature the living and dining areas. See the cash flow potential? All appliances convey. Pictures denote condition prior to units’ current occupancy. Detached 4 car carport with laundry room and a storage room. Please do not disturb tenants, all 4 units occupied.

9. 2014-11-07
   soldstatus
10. 2014-05-28
    listed $90,500
11. 2003-02-01
    listed $75,000
12. 1999-10-21
    listed $140,000
13. 1996-04-10
    soldstatus

ⓘ 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: $4,980 · $415/mo
• Projected year-2 tax: $5,856 · $488/mo
• Expected delta: +$876/yr (+$73/mo · 17.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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: $51,264
• − Mortgage interest: −$17,925
• − Property taxes: −$4,980
• − Insurance: −$1,600
• − Repairs & maintenance: −$4,101
• − Management: −$4,101
• − Depreciation: −$9,309
• Taxable income: $9,248
• Est. tax owed @ 24.0%: −$2,219
• After-tax cash flow: $11,562/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

+128.6% since first listed

13 events — show timeline

• 2026-03-05 Listed $320,000 CBMLS
• 2024-12-06 Sold (Public Records) — Public Records
• 2024-12-06 Sold (MLS) — CBMLS
• 2024-12-05 Pending — CBMLS
• 2024-08-09 Price Changed $242,900 CBMLS
• 2024-05-31 Price Changed $292,999 CBMLS
• 2024-05-06 Price Changed $299,999 CBMLS
• 2024-03-07 Listed $310,999 CBMLS
• 2014-11-07 Sold (MLS) — CBMLS
• 2014-05-28 Listed $90,500 CBMLS
• 2003-02-01 Listed $75,000 CBMLS
• 1999-10-21 Listed $140,000 CBMLS
• 1996-04-10 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,980 · -10.1% YoY. Source: county tax records.