506 Hoffman St · Corpus Christi, TX 78404

$180,000

3 bd · 1.5 ba · 1,408 sqft · SingleFamily public records · 13 Days on market

Built 1948 7,200 sqft lot $128/sqft · 8% below area Est $195k · 8% under

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +10.9/15.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• DSCR +3.3/10.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming home is full of character and conveniently located in an established neighborhood close to hospitals, the bayfront, and within walking distance to H-E-B. The main home features 3 bedrooms, 1 bathroom, inviting living spaces, and a bright sunroom perfect for morning coffee or relaxing afternoons. Out back, you’ll find a spacious deck ideal for entertaining, plus a detached STUDIO APARTMENT complete with its own full bathroom — perfect for guests, a home office, rental potential, or multi-generational living. A unique property with flexibility, charm, and a location that’s hard to beat!

Key facts

• Full bathroom
• Spacious deck
• Bright sunroom

Tags

• WALKING DISTANCE TO H-E-B
• BRIGHT SUNROOM
• SPACIOUS DECK
• DETACHED STUDIO APARTMENT
• FULL BATHROOM

Property features AI

Finance

• Other: Lot approximately 0.17 acres
• Financial info: No financial details provided
• HOA & community: Short-term rentals allowed

Exterior

• Parking: Concrete parking; On-street parking
• Security: No security features listed
• Utilities: Public water available; Public sewer available
• Home design: Single-story; Entry on main level
• Construction: Asbestos siding or construction material; Shingle roof; Pillar/post/pier foundation; Built in 1 story (total)
• Exterior features: Covered deck; Deck; Wood fencing

Interior

• Kitchen: Gas cooktop
• Bedrooms: Bedroom count not provided
• Flooring: Carpet; Hardwood; Linoleum; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-67 ($-808/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (11.0% below list).
• Recommended offer: $160k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• This rent runs 31% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $160,158 (11.0% 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. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.60%
• DSCR: 0.93
• GRM: 9.4

CMA / ARV

• ARV (median comp): $194,757
• List price: $180,000
• Delta: -7.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Vaky St	0.12mi	3/2.0	1,543 (+10%)	6mo	$67,900	$44	72
2810 Topeka St	0.45mi	3/2.0	1,395 (-1%)	5mo	$199,900	$143	71
525 Ohio Ave	0.56mi	3/2.0	1,421 (+1%)	7mo	$179,500	$126	65
634 Sorrell St	0.34mi	3/2.0	1,552 (+10%)	1mo	$237,500	$153	64
636 Texas Ave	0.50mi	3/2.0	1,342 (-5%)	4mo	$149,900	$112	64
337 Melrose St	0.31mi	3/3.0	1,522 (+8%)	7mo	$170,000	$112	60
1201 Devon Dr	0.60mi	3/2.0	1,497 (+6%)	1mo	$209,500	$140	59
702 Texas Ave	0.52mi	3/2.0	1,514 (+8%)	2mo	$239,900	$158	59
3225 Lawnview St	0.33mi	3/2.0	1,583 (+12%)	4mo	$299,500	$189	59
334 Rosebud Ave	0.48mi	4/3.0 (+1)	1,474 (+5%)	7mo	$174,900	$119	53
1113 Annapolis Dr	0.70mi	3/2.0	1,518 (+8%)	4mo	$224,900	$148	49
1233 Brentwood Dr	0.73mi	3/1.0	1,229 (-13%)	6mo	$199,000	$162	37

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: -20.3%
• Equity multiple: 0.30×
• Total profit: $-35,181
• Equity at exit: $26,839

10-year hold

• IRR: -16.1%
• Equity multiple: 0.15×
• Total profit: $-43,063
• Equity at exit: $15,563

Cash invested: $50,400 (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 78404

• Rents YoY: 1.9%
• Active inventory: 141
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,602 high
• Mortgage (P&I): −$944
• Tax from tax record: −$314 /mo · $3,764/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-67

Break-even live

Break-even rent $1,687

Max offer price $168,099

Occupancy floor 99%

Sensitivity live

Price	-10% $35	-5% $-16	+0% $-67	+5% $-118	+10% $-169
Rent	-10% $-194	-5% $-131	+0% $-67	+5% $-4	+10% $59
Rate	-1.0pp $23	-0.5pp $-22	base $-67	+0.5pp $-114	+1.0pp $-161

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3102 Santa Fe St Corpus Christi, TX	1.0–2.0	1.0–2.0	922	$1,095	$1.19	44d	1	0.37mi
332 Rosebud Ave Corpus Christi, TX	2.0	1.0	942	$1,150	$1.22	22d	1	0.48mi
2837 Santa Fe St Unit 2 Corpus Christi, TX	2.0	1.0	1030	$1,300	$1.26	14d	1	0.48mi
309 Rosebud Ave Unit D Corpus Christi, TX	2.0	1.0	882	$1,100	$1.25	22d	1	0.49mi
443 Indiana Ave Corpus Christi, TX	2.0	1.0	968	$1,650	$1.70	44d	1	0.50mi
3333 S Alameda St Corpus Christi, TX	3.0	2.0	1000	$1,149	$1.15	44d	1	0.56mi
455 Louisiana Ave Corpus Christi, TX	2.0	1.0	1528	$3,000	$1.96	22d	1	0.60mi
3509 Topeka St Corpus Christi, TX	2.0	1.0	1114	$1,850	$1.66	44d	1	0.75mi
3314 Casa de Palmas Dr Corpus Christi, TX	3.0	2.0	1869	$2,300	$1.23	14d	1	0.78mi
3562 Topeka St Corpus Christi, TX	3.0	1.0	1208	$1,695	$1.40	14d	1	0.87mi
1201 York Ave Corpus Christi, TX	3.0	1.0	888	$1,550	$1.75	22d	1	0.90mi
1405 Annapolis Dr Corpus Christi, TX	3.0	1.5	1502	$2,000	$1.33	14d	1	0.93mi
1802 16th St Unit B Corpus Christi, TX	3.0	1.0	1575	$1,000	$0.63	44d	1	0.99mi
1446 Annapolis Dr Corpus Christi, TX	3.0	2.0	1500	$1,700	$1.13	44d	1	1.01mi
1522 Cambridge Dr Corpus Christi, TX	3.0	1.5	1278	$1,600	$1.25	44d	1	1.07mi
426 Palmero St Corpus Christi, TX	3.0	2.0	1720	$1,350	$0.78	44d	1	1.11mi
200 Clemmer St Unit A Corpus Christi, TX	3.0	1.0	950	$1,199	$1.26	44d	1	1.15mi
225 Watson St Corpus Christi, TX	3.0	1.0	1472	$1,295	$0.88	44d	1	1.15mi
1410 Ray Dr Corpus Christi, TX	3.0	1.0	1224	$1,600	$1.31	14d	1	1.18mi
1634 14th St Corpus Christi, TX	2.0	1.5	980	$1,090	$1.11	44d	1	1.19mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	44d	1	1.29mi
4005 Green Grove Dr Corpus Christi, TX	3.0	2.0	1406	$1,695	$1.21	44d	1	1.32mi
1318 6th St Corpus Christi, TX	2.0	1.0	900	$900	$1.00	14d	1	1.40mi
2622 Cloyde St Corpus Christi, TX	2.0	1.0	1693	$1,150	$0.68	44d	1	1.43mi
625 Catalina Pl Corpus Christi, TX	3.0	2.0	1750	$2,100	$1.20	14d	1	1.45mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	14d	1	1.45mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	14d	1	1.47mi
4322 Kostoryz Rd Corpus Christi, TX	2.0	1.5	1100	$1,259	$1.14	44d	1	1.47mi

Listing history 2 events

1. 2026-06-01
   statusdays on market $180,000 Pending 13 DOM
2. 2026-05-08
   listed $180,000 Active 623-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: $3,764 · $314/mo
• Projected year-2 tax: $3,764 · $314/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) · 22% 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: $19,219
• − Mortgage interest: −$10,083
• − Property taxes: −$3,764
• − Insurance: −$900
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$5,236
• Taxable loss: −$3,839
• Est. tax savings @ 24.0%: +$921
• After-tax cash flow: $113/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

3 events — show timeline

• 2026-06-01 Pending — CBMLS
• 2026-05-21 Delisted — CBMLS
• 2026-05-08 Listed $180,000 CBMLS

Property tax history

+3.5%/yr

Latest (2025): $3,764 · +7.3% YoY. Source: county tax records.