2002 Buford St · Corpus Christi, TX 78405

$98,000

4 bd · 3.0 ba · 1,874 sqft · SingleFamily public records · 66 Days on market

Built 1941 7,266 sqft lot $52/sqft · 35% below area Est $150k · 35% under ↓ 25% 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 +26.0/30.0
• ARV discount +15.0/15.0
• 1% rule +9.9/10.0
• DSCR +8.8/10.0
• Appreciation +5.7/10.0
• 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

Investor Special or DIY (Do It Yourself) Builder/Contractor property located on a Corner Lot! Unlock the incredible potential of this 1,874 square foot residence, perfectly positioned on a spacious corner lot. This property offers a unique floor plan with rare versatilitty and significant equity upside. Potential for a master bedroom on both the first and second floors. Has dedicated kitchen and living spaces on each level. Accommodations provide for 4 bedrooms and 3 bathrooms. Benefit from the peace of mind that comes with a 2023 replaced roof. Attached 2 car garage and a covered patio space, ideal for future entertaining. Listed well below tax value. Home is ready for TLC Tender Loving Care to restore as you invision. Electricity is active with limited lighting (Please bring your flashlight). Water is currently off. Sold As-Is- No Repairs and No Survey available. Opportunity knocks for those ready to roll up their sleeves and invest in this property. At this price point with this much square footage and a 2023 roof, interest in this home should be plentiful.

Key facts

• 2023 replaced roof
• Unique floor plan
• Covered patio space

Tags

• CORNER LOT
• UNIQUE FLOOR PLAN
• DEDICATED KITCHEN
• DEDICATED LIVING SPACES
• 2023 REPLACED ROOF
• COVERED PATIO SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 74 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $1,458/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 867% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($678 loan paydown + $1k appreciation (1.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $22k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1941 — 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 $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1941 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 5.6

CMA / ARV

• ARV (median comp): $149,923
• List price: $98,000
• Delta: -34.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2002 Craig St	0.08mi	5/2.0 (+1)	1,890 (+1%)	23mo	$205,000	$108	66
2446 Prescott St	0.60mi	4/2.0	1,880 (+0%)	13mo	$64,900	$35	56
2414 Riggan St	0.55mi	4/2.0	1,783 (-5%)	22mo	$229,000	$128	44
1630 16th St	0.71mi	4/2.5	1,602 (-14%)	22mo	$209,000	$130	22

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

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.71×
• Total profit: $19,583
• Equity at exit: $35,618

10-year hold

• IRR: 16.9%
• Equity multiple: 3.14×
• Total profit: $58,695
• Equity at exit: $49,053

Cash invested: $27,440 (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 78405

• Home prices YoY: 1.3%
• Active inventory: 74
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,458 high
• Mortgage (P&I): −$514
• Tax from tax record: −$353 /mo · $4,233/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $244

Break-even live

Break-even rent $1,149

Max offer price $98,000

Occupancy floor 78%

Sensitivity live

Price	-10% $300	-5% $272	+0% $244	+5% $216	+10% $189
Rent	-10% $129	-5% $187	+0% $244	+5% $302	+10% $359
Rate	-1.0pp $294	-0.5pp $269	base $244	+0.5pp $219	+1.0pp $193

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 14th St Corpus Christi, TX	4.0	1.5	1520	$1,300	$0.86	44d	1	0.22mi
813 Furman Ave Apt 1 Corpus Christi, TX	3.0	2.0	1430	$1,475	$1.03	14d	1	0.80mi
426 Palmero St Corpus Christi, TX	3.0	2.0	1720	$1,350	$0.78	44d	1	0.93mi
1802 16th St Unit B Corpus Christi, TX	3.0	1.0	1575	$1,000	$0.63	44d	1	0.97mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	14d	1	1.01mi
417 Southern St Corpus Christi, TX	4.0	2.5	2028	$2,350	$1.16	44d	1	1.32mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $98,000 Pending 66 DOM
2. 2026-06-05
   days on market $98,000 Active 65 DOM
3. 2026-06-03
   days on market $98,000 Active 64 DOM
4. 2026-06-02
   days on market $98,000 Active 63 DOM
5. 2026-06-01
   days on market $98,000 Active 62 DOM
6. 2026-05-31
   days on market $98,000 Active 61 DOM
7. 2026-05-30
   days on market $98,000 Active 60 DOM
8. 2026-04-23
   price $98,000 1076-char remark

   Show marketing remark (1076 chars)

   Investor Special or DIY (Do It Yourself) Builder/Contractor property located on a Corner Lot! Unlock the incredible potential of this 1,874 square foot residence, perfectly positioned on a spacious corner lot. This property offers a unique floor plan with rare versatilitty and significant equity upside. Potential for a master bedroom on both the first and second floors. Has dedicated kitchen and living spaces on each level. Accommodations provide for 4 bedrooms and 3 bathrooms. Benefit from the peace of mind that comes with a 2023 replaced roof. Attached 2 car garage and a covered patio space, ideal for future entertaining. Listed well below tax value. Home is ready for TLC Tender Loving Care to restore as you invision. Electricity is active with limited lighting (Please bring your flashlight). Water is currently off. Sold As-Is- No Repairs and No Survey available. Opportunity knocks for those ready to roll up their sleeves and invest in this property. At this price point with this much square footage and a 2023 roof, interest in this home should be plentiful.

9. 2026-03-27
   listed $120,000 Active 1076-char remark

   Show marketing remark (1076 chars)

   Investor Special or DIY (Do It Yourself) Builder/Contractor property located on a Corner Lot! Unlock the incredible potential of this 1,874 square foot residence, perfectly positioned on a spacious corner lot. This property offers a unique floor plan with rare versatilitty and significant equity upside. Potential for a master bedroom on both the first and second floors. Has dedicated kitchen and living spaces on each level. Accommodations provide for 4 bedrooms and 3 bathrooms. Benefit from the peace of mind that comes with a 2023 replaced roof. Attached 2 car garage and a covered patio space, ideal for future entertaining. Listed well below tax value. Home is ready for TLC Tender Loving Care to restore as you invision. Electricity is active with limited lighting (Please bring your flashlight). Water is currently off. Sold As-Is- No Repairs and No Survey available. Opportunity knocks for those ready to roll up their sleeves and invest in this property. At this price point with this much square footage and a 2023 roof, interest in this home should be plentiful.

10. 2023-01-09
    soldstatus
11. 2023-01-06
    soldstatus Closed 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

12. 2022-12-25
    status Pending 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

13. 2022-12-14
    historical Active Under Contract 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

14. 2022-11-11
    price $119,900 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

15. 2022-10-22
    price $124,900 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

16. 2022-10-17
    listed $129,900 Active 413-char remark

    Show marketing remark (413 chars)

    REDUCED INVESTORS LOOK AT THIS!! So much room and potential. The home features 3 bedroom 1 and 1/2 bath in the main house. back upstairs has a full kitchen and bath with its own back entrance. Lots of space for a large gatherings. needs some TLC and being sold as is. This home is a estate home. Many great memories were made. It is time to pass on to new owners with a vision to turn this into a beautiful home.

17. 2006-09-06
    soldstatus
18. 2006-09-06
    soldstatus
19. 1996-05-14
    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: $4,233 · $353/mo
• Projected year-2 tax: $4,233 · $353/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 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: $17,494
• − Mortgage interest: −$5,490
• − Property taxes: −$4,233
• − Insurance: −$490
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$2,851
• Taxable income: $1,632
• Est. tax owed @ 24.0%: −$392
• After-tax cash flow: $2,539/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): 14,602
• Household income: $38,294
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 867.0

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 48% Black 4% White 4%
• Hispanic origin (detail): Mexican 83%
• Foreign-born: 18% · Canada
• Languages at home: 52% English-only · Spanish 48%

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: ▲ 1.42%
• Current HPI: 113.2227
• Rent YoY: —
• 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

-24.6% since first listed

12 events — show timeline

• 2026-04-23 Price Changed $98,000 CBMLS
• 2026-03-27 Listed $120,000 CBMLS
• 2023-01-09 Sold (Public Records) — Public Records
• 2023-01-06 Sold (MLS) — CBMLS
• 2022-12-25 Pending — CBMLS
• 2022-12-14 Contingent — CBMLS
• 2022-11-11 Price Changed $119,900 CBMLS
• 2022-10-22 Price Changed $124,900 CBMLS
• 2022-10-17 Listed $129,900 CBMLS
• 2006-09-06 Sold (Public Records) — Public Records
• 2006-09-06 Sold (Public Records) — Public Records
• 1996-05-14 Sold (Public Records) — Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,233 · +2.7% YoY. Source: county tax records.