2118 Shady Oak St · Corpus Christi, TX 78409

$208,999

3 bd · 2.0 ba · 4,160 sqft · SingleFamily public records · 23 Days on market

Built 2024 4,356 sqft lot $50/sqft · 78% below area Est $283k · 26% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Appreciation +6.6/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Adjoining bathroom
• Owner's suite
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS FAMILY ROOM
• MULTI-FUNCTIONAL KITCHEN
• OWNER'S SUITE
• ADJOINING BATHROOM
• TWO SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (18.5% below list).
• Recommended offer: $170k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Flour Bluff ISD (urban): math 43% / reading 51% proficiency, ranked #209 of 826 in TX (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.1% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, 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 23 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 5y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,327 (18.5% below list)

Questions for the listing agent

1. 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?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.81% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $283,281
• List price: $208,999
• Delta: -26.22%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2165 Rufus St	0.18mi	4/3.5 (+1)	3,730 (-10%)	12mo	$725,000	$194	54
2157 Rufus St	0.17mi	4/3.5 (+1)	3,765 (-10%)	15mo	$725,000	$193	53
3518 Armitage Dr	0.40mi	4/4.0 (+1)	4,553 (+9%)	16mo	$849,900	$187	39

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

Projected returns pro-forma

3.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.28×
• Total profit: $16,226
• Equity at exit: $95,576

10-year hold

• IRR: 7.9%
• Equity multiple: 2.21×
• Total profit: $70,777
• Equity at exit: $148,552

Cash invested: $58,520 (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 78409

• Home prices YoY: 1.9%
• Active inventory: 29
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,703 medium
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-165

Break-even live

Break-even rent $1,912

Max offer price $185,091

Occupancy floor —

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-05-09
   status Pending 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

2. 2026-05-06
   price $208,999 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

3. 2026-04-28
   price $211,999 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

4. 2026-04-24
   price $216,999 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

5. 2026-04-23
   price $236,999 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

6. 2026-04-22
   status Back on Market 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

7. 2026-01-28
   status Pending 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

8. 2026-01-22
   listed $224,999 New 583-char remark

   Show marketing remark (583 chars)

   The Beckman - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

9. 2024-11-12
   historical
10. 2024-07-15
    listed $770,000 New
11. 2024-06-26
    price $770,000
12. 2024-03-29
    listed $775,000 Active
13. 2023-06-21
    price $799,000
14. 2023-04-27
    price $889,900
15. 2023-03-01
    listed $894,900 Active
16. 2022-09-14
    historical
17. 2022-08-14
    price $875,000
18. 2022-06-30
    listed $890,000 Active
19. 2022-03-15
    historical
20. 2022-03-13
    status Pending
21. 2022-03-11
    soldstatus Closed
22. 2021-12-09
    listed $895,000 Active
23. 2021-12-08
    historical
24. 2021-11-29
    price $895,000
25. 2021-11-09
    listed $915,000 Active
26. 2021-07-19
    historical
27. 2021-05-21
    listed $895,000 Active

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $20,439
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,842
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$6,080
• Taxable loss: −$5,596
• Est. tax savings @ 24.0%: +$1,343
• After-tax cash flow: $-640/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: Flour Bluff ISD
• NCES district ID: 4819380
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,162
• Composite: 40.96/100
• National rank: #3604
• State rank: #209 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): 2,504

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 43% White 25% Native American 1%
• Hispanic origin (detail): Mexican 70%
• Common ancestry: Romanian 1%
• Foreign-born: 14% · Canada, Guatemala
• Languages at home: 60% 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: ▲ 3.14%
• Current HPI: 164.8665
• 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

-76.6% since first listed

27 events — show timeline

• 2026-05-09 Pending — LERA
• 2026-05-06 Price Changed $208,999 LERA
• 2026-04-28 Price Changed $211,999 LERA
• 2026-04-24 Price Changed $216,999 LERA
• 2026-04-23 Price Changed $236,999 LERA
• 2026-04-22 Relisted — LERA
• 2026-01-28 Pending — LERA
• 2026-01-22 Listed $224,999 LERA
• 2024-11-12 Listing Removed — LERA
• 2024-07-15 Listed $770,000 LERA
• 2024-06-26 Price Changed $770,000 CBMLS
• 2024-03-29 Listed $775,000 CBMLS
• 2023-06-21 Price Changed $799,000 CBMLS
• 2023-04-27 Price Changed $889,900 CBMLS
• 2023-03-01 Listed $894,900 CBMLS
• 2022-09-14 Delisted — CBMLS
• 2022-08-14 Price Changed $875,000 CBMLS
• 2022-06-30 Listed $890,000 CBMLS
• 2022-03-15 Delisted — CBMLS
• 2022-03-13 Pending — CBMLS
• 2022-03-11 Sold (MLS) — CBMLS
• 2021-12-09 Listed $895,000 CBMLS
• 2021-12-08 Delisted — CBMLS
• 2021-11-29 Price Changed $895,000 CBMLS
• 2021-11-09 Listed $915,000 CBMLS
• 2021-07-19 Delisted — CBMLS
• 2021-05-21 Listed $895,000 CBMLS

Property tax history

+34.7%/yr

Latest (2025): $18,951 · +6.6% YoY. Source: county tax records.