808 Elesa St · Corpus Christi, TX 78405

$39,999

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 53 Days on market

Built 1972 2,500 sqft lot $45/sqft · 49% below area Est $78k · 49% under ↓ 11% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

2-bedroom, 1-bathroom home offering 882 sqft of living space on a 2,500 sqft lot, located just steps from Zavala Elementary School. This property presents an opportunity to bring your vision to life, with room for updates and improvements to suit your style. The adjacent 2,500 sqft lot next door is also available for purchase, offering the option to expand or secure additional space.

Key facts

• 2,500 sq ft lot
• Parking
• Built 1972

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Carport; Front entry parking
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Single-story; Pillar/post/pier foundation
• Construction: HardiPlank-type siding; Shingle roof; Built with pillar/post/pier foundation
• Exterior features: Covered patio; Patio; Chain link fencing; Subdivided lot

Interior

• Kitchen: Gas oven; Gas range
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: No additional interior features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.3% 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; 31 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• This rent runs 32% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $844 of equity ($276 loan paydown + $568 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price.
• 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 $38,799 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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 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: 2.56% ✓
• Cap rate: 19.33%
• Cash-on-cash: 46.56%
• DSCR: 3.07
• GRM: 3.3

CMA / ARV

• ARV (median comp): $78,179
• List price: $39,999
• Delta: -48.84%
• 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
615 Dolores St	0.11mi	3/2.0 (+1)	918 (+4%)	8mo	$130,400	$142	72
326 Virginia Ave	0.31mi	3/1.0 (+1)	915 (+4%)	3mo	$135,000	$148	72
334 Osage St	0.15mi	3/2.0 (+1)	840 (-5%)	10mo	$36,000	$43	68
214 Shawnee	0.42mi	3/1.0 (+1)	922 (+4%)	12mo	$119,000	$129	58
1205 Hibiscus St	0.39mi	2/1.0	800 (-9%)	15mo	$25,000	$31	54
2506 Crews St	0.74mi	2/1.0	904 (+2%)	10mo	$58,000	$64	53
2901 Mary St	0.25mi	3/2.0 (+1)	1,000 (+13%)	5mo	$137,000	$137	53
2613 Mary St	0.51mi	2/1.0	992 (+12%)	6mo	$60,000	$60	50
2507 Morris St	0.58mi	2/1.0	754 (-14%)	5mo	$75,000	$99	44
2221 Cleo St	0.74mi	2/1.0	832 (-6%)	16mo	$90,000	$108	43
251 W Longview St	0.55mi	3/1.0 (+1)	1,013 (+15%)	2mo	$59,000	$58	43
3650 Braniff St	0.74mi	3/1.0 (+1)	986 (+12%)	2mo	$69,900	$71	39

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: 49.8%
• Equity multiple: 3.62×
• Total profit: $29,329
• Equity at exit: $14,538

10-year hold

• IRR: 51.1%
• Equity multiple: 7.25×
• Total profit: $70,035
• Equity at exit: $20,021

Cash invested: $11,200 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,025 high
• Mortgage (P&I): −$210
• Tax from tax record: −$149 /mo · $1,787/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $435

Break-even live

Break-even rent $475

Max offer price $39,999

Occupancy floor 53%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2937 Ruth St Corpus Christi, TX	2.0	1.0	676	$950	$1.41	44d	1	0.15mi
3115 Agnes St Corpus Christi, TX	2.0	1.0	428	$828	$1.93	44d	3	0.23mi
1114 25th St Corpus Christi, TX	1.0–2.0	1.0	712	$1,050	$1.47	14d	6	0.47mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	21d	1	0.70mi
2522 Cleo St Corpus Christi, TX	3.0	1.0	992	$1,350	$1.36	14d	1	0.80mi
801 18th St Corpus Christi, TX	1.0	1.0	600	$895	$1.49	21d	1	0.83mi
3302 Up River Rd Corpus Christi, TX	2.0	1.0	710	$699	$0.98	14d	1	0.84mi
2245 Comanche St Unit A Corpus Christi, TX	3.0	1.0	1016	$1,350	$1.33	21d	1	0.93mi
616 16th St Unit A Corpus Christi, TX	3.0	1.0	1040	$1,050	$1.01	44d	1	0.99mi
206 Spruce St Corpus Christi, TX	1.0	1.0	835	$900	$1.08	14d	1	1.01mi
2333 Riggan St Corpus Christi, TX	2.0	1.0	856	$1,250	$1.46	44d	1	1.05mi
1808 Morgan Ave Corpus Christi, TX	1.0	1.0	667	$975	$1.46	44d	1	1.07mi
3002 Antelope St Corpus Christi, TX	1.0	1.0	828	$815	$0.98	44d	1	1.07mi
3002 Antelope St Apt 112 Corpus Christi, TX	1.0	1.0	828	$825	$1.00	44d	1	1.07mi
3002 Antelope St Unit 328 Corpus Christi, TX	1.0	1.0	628	$675	$1.07	44d	1	1.07mi
1802 Morgan Ave Unit 1802 Corpus Christi, TX	2.0	1.0	850	$1,250	$1.47	21d	1	1.07mi
1802 Morgan Ave Unit 1804 Corpus Christi, TX	1.0	1.0	667	$695	$1.04	44d	1	1.08mi
3150 Elgin St Corpus Christi, TX	2.0	1.0	616	$925	$1.50	44d	1	1.11mi
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	14d	6	1.19mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	14d	1	1.21mi
116 Lowell St Corpus Christi, TX	2.0	1.0	628	$995	$1.58	21d	1	1.25mi
1603 Caldwell St Corpus Christi, TX	2.0	1.0	628	$995	$1.58	21d	1	1.29mi
725 Villa Dr Unit 7 Corpus Christi, TX	2.0	1.0	628	$649	$1.03	44d	1	1.29mi
725 Villa Dr Corpus Christi, TX	2.0	1.0	650	$649	$1.00	14d	1	1.32mi
1433 12th St Corpus Christi, TX	2.0	1.0	768	$1,050	$1.37	44d	1	1.33mi
110 Josephine St Corpus Christi, TX	3.0	2.0	1050	$2,000	$1.90	44d	1	1.37mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	44d	1	1.38mi
1124 Morgan Ave Unit 1268437P Corpus Christi, TX	2.0	1.0	721	$2,081	$2.89	44d	1	1.47mi
1112 Morgan Ave Unit 1268432P Corpus Christi, TX	1.0	1.0	656	$1,632	$2.49	44d	1	1.48mi
1116 Morgan Ave Unit 1268439P Corpus Christi, TX	1.0	1.0	656	$1,743	$2.66	44d	1	1.48mi
1116 Morgan Ave Unit 1268424P Corpus Christi, TX	1.0	1.0	656	$1,454	$2.22	44d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $39,999 Active 53 DOM
2. 2026-06-17
   days on market $39,999 Active 52 DOM
3. 2026-06-16
   days on market $39,999 Active 51 DOM
4. 2026-06-15
   days on market $39,999 Active 50 DOM
5. 2026-06-14
   days on market $39,999 Active 48 DOM
6. 2026-06-10
   pricedays on market $39,999 Active 45 DOM
7. 2026-06-09
   days on market $45,000 Active 44 DOM
8. 2026-06-08
   days on market $45,000 Active 43 DOM
9. 2026-06-07
   days on market $45,000 Active 42 DOM
10. 2026-06-05
    days on market $45,000 Active 39 DOM
11. 2026-06-03
    days on market $45,000 Active 38 DOM
12. 2026-06-02
    days on market $45,000 Active 37 DOM
13. 2026-06-01
    days on market $45,000 Active 36 DOM
14. 2026-05-31
    days on market $45,000 Active 35 DOM
15. 2026-05-30
    days on market $45,000 Active 34 DOM
16. 2026-04-26
    listed $45,000 Active 386-char remark

ⓘ 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: $1,787 · $149/mo
• Projected year-2 tax: $1,787 · $149/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 · 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: $12,301
• − Mortgage interest: −$2,241
• − Property taxes: −$1,787
• − Insurance: −$200
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$1,164
• Taxable income: $4,942
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $4,028/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

-11.1% since first listed

2 events — show timeline

• 2026-06-09 Price Changed $39,999 CBMLS
• 2026-04-26 Listed $45,000 CBMLS

Property tax history

+5.6%/yr

Latest (2025): $1,787 · +2.8% YoY. Source: county tax records.