3938 Surfside Blvd #3222 · Corpus Christi, TX 78402

$85,000

1 bd · 1.0 ba · 420 sqft · Townhouse public records · 230 Days on market

Built 1981 928 sqft lot $202/sqft · 28% below area Est $118k · 28% under $575/mo HOA · 49% of rent

---

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).

• ARV discount +15.0/15.0
• 1% rule +8.8/10.0
• Cash flow +4.2/30.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This vibrant Villa del Sol Single Bedroom Bathroom Residence, located on the second level of Building 3 features spacious living and extra bunk space available for guests. This unit features a newly renovated, tile-accented bathroom and patio with courtyard access. It has been used as a vacation property and offers excellent potential for short-term rentals, which are permitted by the property. The current owner, however, only used the unit for personal use. In addition to the unit's current renovations, Villa del Sol offers residents and guests access to swimming pools, a courtyard, and a recreation area. The property also provides convenient access to Corpus Christi Beach.

Key facts

• Courtyard access
• Swimming pools
• Recreation area

Tags

• TILE ACCENTED BATHROOM
• COURTYARD ACCESS
• SWIMMING POOLS
• RECREATION AREA
• ACCESS TO CORPUS CHRISTI BEACH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $85k.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $44k (47.7% below list).
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $44k (47.7% below list) — sets the bar for cash-flow.

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: 76 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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

• It's been on market 230 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago 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.
• Current owner paid $24k; list at $85k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $44,445 (47.7% 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. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 3.05%
• Cash-on-cash: -11.58%
• DSCR: 0.48
• GRM: 6.1

CMA / ARV

• ARV (median comp): $118,173
• List price: $85,000
• Delta: -28.07%
• 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
3938 Surfside Blvd #2327	0.01mi	1/1.0	420 (0%)	1mo	$58,000	$138	98
3938 Surfside Blvd #3342	0.00mi	1/1.0	420 (0%)	2mo	$62,000	$148	98
3938 Surfside Blvd #3114	0.01mi	1/1.0	420 (0%)	2mo	$45,000	$107	98
3938 Surfside Blvd #1219	0.03mi	1/1.0	420 (0%)	1mo	$44,900	$107	98
3938 Surfside Blvd #1316	0.04mi	1/1.0	420 (0%)	1mo	$64,500	$154	97
3938 Surfside Blvd #3225	0.04mi	1/1.0	420 (0%)	1mo	$39,900	$95	97
3938 Surfside Blvd #2332	0.02mi	1/1.0	420 (0%)	2mo	$48,000	$114	97
3938 Surfside Blvd #3224	0.04mi	1/1.0	420 (0%)	1mo	$55,000	$131	97
3938 Surfside Blvd #1225	0.03mi	1/1.0	420 (0%)	2mo	$50,000	$119	97
3938 Surfside Blvd #1207	0.04mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #1327	0.04mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #2305	0.03mi	1/1.0	418 (-0%)	3mo	$100,000	$239	96

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -36.7%
• Equity multiple: -0.18×
• Total profit: $-28,030
• Equity at exit: $12,674

10-year hold

• IRR: -46.9%
• Equity multiple: -0.75×
• Total profit: $-41,752
• Equity at exit: $7,349

Cash invested: $23,800 (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 78402

• Home prices YoY: -8.8%
• Active inventory: 76
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$35
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-230

Break-even live

Break-even rent $1,460

Max offer price $44,445

Occupancy floor —

Sensitivity live

Price	-10% $-181	-5% $-206	+0% $-230	+5% $-254	+10% $-278
Rent	-10% $-322	-5% $-276	+0% $-230	+5% $-183	+10% $-137
Rate	-1.0pp $-187	-0.5pp $-208	base $-230	+0.5pp $-252	+1.0pp $-274

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $575 · $6,900/yr
• Likely covers: pool

Listing history 19 events

1. 2026-06-21
   days on market $85,000 Active 230 DOM
2. 2026-06-18
   days on market $85,000 Active 227 DOM
3. 2026-06-17
   days on market $85,000 Active 226 DOM
4. 2026-06-16
   days on market $85,000 Active 225 DOM
5. 2026-06-15
   days on market $85,000 Active 224 DOM
6. 2026-06-14
   days on market $85,000 Active 222 DOM
7. 2026-06-10
   days on market $85,000 Active 219 DOM
8. 2026-06-09
   days on market $85,000 Active 218 DOM
9. 2026-06-08
   days on market $85,000 Active 217 DOM
10. 2026-06-07
    days on market $85,000 Active 216 DOM
11. 2026-06-05
    days on market $85,000 Active 213 DOM
12. 2026-06-03
    days on market $85,000 Active 212 DOM
13. 2026-06-02
    days on market $85,000 Active 211 DOM
14. 2026-06-01
    days on market $85,000 Active 210 DOM
15. 2026-05-31
    days on market $85,000 Active 209 DOM
16. 2026-05-30
    days on market $85,000 Active 208 DOM
17. 2024-10-31
    listed $85,000 Active 683-char remark

    Show marketing remark (683 chars)

    This vibrant Villa del Sol Single Bedroom Bathroom Residence, located on the second level of Building 3 features spacious living and extra bunk space available for guests. This unit features a newly renovated, tile-accented bathroom and patio with courtyard access. It has been used as a vacation property and offers excellent potential for short-term rentals, which are permitted by the property. The current owner, however, only used the unit for personal use. In addition to the unit's current renovations, Villa del Sol offers residents and guests access to swimming pools, a courtyard, and a recreation area. The property also provides convenient access to Corpus Christi Beach.

18. 2002-03-20
    soldstatus $24,225
19. 2001-12-15
    listed $26,500

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$393/yr (+$33/mo · 33.8%)

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

Taxation est. · year 1

• Rental income: $14,028
• − Mortgage interest: −$4,761
• − Property taxes: −$1,163
• − Insurance: −$425
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$2,473
• Taxable loss: −$3,939
• Est. tax savings @ 24.0%: +$945
• After-tax cash flow: $-1,810/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): 392

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 17% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 2%

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: ▼ -9.74%
• Current HPI: 101.5421
• 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

+220.8% since first listed

3 events — show timeline

• 2024-10-31 Listed $85,000 CBMLS
• 2002-03-20 Sold (Public Records) $24,225 Public Records
• 2001-12-15 Listed $26,500 CBMLS

Property tax history

+3.2%/yr

Latest (2025): $1,163 · +12.0% YoY. Source: county tax records.