218 Dover Ave · Corpus Christi, TX 78408

$55,000

2 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 20 Days on market

Built 1941 7,845 sqft lot $43/sqft · 60% below area ↓ 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor's Special! This is a prime value add opportunity you don't want to miss. The home is priced to reflect its current condition, leaving plenty of room for upside through renovation and the right improvements. The seller is also open to owner financing making it easier to get in the door without the usual barriers. If you've been looking for your next project, this one checks the boxes.

Key facts

• 7,845 sq ft lot
• Built 1941
• Listed 20 days

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Asphalt rear/side/off-street parking
• Utilities: Natural gas available; Public water; Public sewer
• Home design: Single-story home; Shingle roof; Wood siding exterior; Pillar/post/pier foundation
• Construction: Built with wood siding; Pillar/post/pier foundation; Shingle roof; 1 story
• Exterior features: Handicap accessible; Lot size approximately 0.18 acres

Interior

• Flooring: Unfinished
• Bathrooms: 1 full bathroom
• Interior features: Handicap accessible; Unfinished flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.

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.
• Zoned schools: Windsor Park G/T (math 85% / reading 90%, grade A+, #6 of 4,322 statewide, top 0%, 609 students, 29% FRL); Adkins Middle (math 40% / reading 39%, grade F, #660 of 1,662 statewide, top 41%, 956 students, 48% FRL); Roy Miller H S And Metro School of Design (math 24% / reading 32%, grade F, #1,170 of 1,632 statewide, top 72%, 1,538 students, 88% FRL).
• Zoned-school proficiency averages 52% at this address vs 33% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Corpus Christi ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 37 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• In year one you build about $5k of equity ($380 loan paydown + $5k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: property tax is 4.7% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.10% ✓
• Cap rate: 24.19%
• Cash-on-cash: 63.93%
• DSCR: 3.84
• GRM: 2.7

CMA / ARV

• ARV (median comp): $137,773
• List price: $55,000
• Delta: -60.08%
• 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
3709 S Saxet Dr	0.09mi	3/2.0 (+1)	1,246 (-4%)	9mo	$134,900	$108	73
341 W Saxet Dr	0.23mi	2/1.0	1,156 (-10%)	5mo	$142,500	$123	67
3740 Brooks Dr	0.48mi	3/1.0 (+1)	1,244 (-4%)	7mo	$159,900	$129	61
350 Bartlett Dr	0.26mi	2/1.0	1,183 (-8%)	17mo	$109,000	$92	60
3585 S Naylor	0.36mi	3/2.0 (+1)	1,180 (-9%)	8mo	$90,000	$76	53
357 W Saxet Dr	0.27mi	3/1.0 (+1)	1,128 (-13%)	11mo	$188,900	$167	52
314 Old Robstown	0.26mi	3/2.0 (+1)	1,121 (-13%)	8mo	$162,500	$145	50
3617 Victory Dr	0.13mi	3/1.5 (+1)	1,464 (+13%)	19mo	$159,900	$109	48
310 W Longview St	0.69mi	3/1.0 (+1)	1,248 (-3%)	14mo	$175,000	$140	45
423 Fairview Dr	0.64mi	3/1.5 (+1)	1,110 (-14%)	4mo	$120,000	$108	36
4046 Santa Elena St	0.67mi	3/2.0 (+1)	1,357 (+5%)	20mo	$197,900	$146	34
329 Garfield Dr	0.56mi	3/2.0 (+1)	1,100 (-15%)	13mo	$94,900	$86	29

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: 74.2%
• Equity multiple: 5.98×
• Total profit: $76,750
• Equity at exit: $43,623

10-year hold

• IRR: 69.3%
• Equity multiple: 12.96×
• Total profit: $184,218
• Equity at exit: $88,407

Cash invested: $15,400 (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: 37
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,703 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$214 /mo · $2,564/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $820

Break-even live

Break-even rent $665

Max offer price $55,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,003	-5% $836	+0% $820	+5% $805	+10% $789
Rent	-10% $686	-5% $753	+0% $820	+5% $888	+10% $955
Rate	-1.0pp $848	-0.5pp $834	base $820	+0.5pp $806	+1.0pp $792

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	15d	6	0.75mi
4505 Up River Rd Corpus Christi, TX	2.0	1.0	966	$1,450	$1.50	15d	1	0.87mi
2726 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1300	$2,095	$1.61	45d	1	1.15mi
2706 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1369	$2,095	$1.53	45d	1	1.15mi

Listing history 13 events

1. 2026-06-05
   days on market $55,000 Active 20 DOM
2. 2026-06-03
   days on market $55,000 Active 19 DOM
3. 2026-06-02
   days on market $55,000 Active 18 DOM
4. 2026-06-01
   days on market $55,000 Active 17 DOM
5. 2026-05-31
   days on market $55,000 Active 16 DOM
6. 2026-05-30
   days on market $55,000 Active 15 DOM
7. 2026-05-07
   listed $55,000 Active 395-char remark
8. 2026-03-19
   price $57,900
9. 2026-02-14
   price $63,000
10. 2026-02-02
    listed $62,000 Active
11. 2026-01-06
    price $63,000
12. 2025-11-16
    listed $65,000 Active
13. 2025-02-27
    listed $63,000 Active

ⓘ 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: $2,564 · $214/mo
• Projected year-2 tax: $2,564 · $214/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $20,436
• − Mortgage interest: −$3,081
• − Property taxes: −$2,564
• − Insurance: −$275
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$1,600
• Taxable income: $9,647
• Est. tax owed @ 24.0%: −$2,315
• After-tax cash flow: $7,529/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

-12.7% since first listed

7 events — show timeline

• 2026-05-07 Listed $55,000 CBMLS
• 2026-03-19 Price Changed $57,900 CBMLS
• 2026-02-14 Price Changed $63,000 CBMLS
• 2026-02-02 Listed $62,000 CBMLS
• 2026-01-06 Price Changed $63,000 CBMLS
• 2025-11-16 Listed $65,000 CBMLS
• 2025-02-27 Listed $63,000 CBMLS

Property tax history

+2.3%/yr

Latest (2025): $2,564 · +18.3% YoY. Source: county tax records.