2829 Westeros St · Corpus Christi, TX 78416

$280,999

3 bd · 2.0 ba · 1,634 sqft · SingleFamily · 89 Days on market

Built 2024 4,791 sqft lot Est $289k · at est. ↓ 5% since listing

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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 +10.9/30.0
• ARV discount +8.8/15.0
• Appreciation +7.2/10.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

The Carmel- This new single-level home provides ample space to live and grow. An open-concept floorplan combines the kitchen, dining area and family room, with convenient access to a covered patio for seamless entertaining and relaxation. Two secondary bedrooms can be found off the foyer, and the luxe owner's suite is tucked away into a private corner at the back of the home, offering direct access to an en-suite bathroom and roomy walk-in closet. Estimated COE April 2026.

Key facts

• Luxe owner's suite
• Walk-in closet
• Covered patio

Tags

• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• LUXE OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $281k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (18.1% below list).
• Recommended offer: $230k (18.1% 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.
• London ISD (rural): math 65% / reading 62% proficiency, ranked #13 of 826 in TX (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 44 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $2,301/mo this rent would consume 64% of the median local household income ($43k/yr) (locally 386% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (4.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, 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 89 days — a 6% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Recommended offer $230,100 (18.1% 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 89 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $289,218
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2766 Westeros St	0.02mi	4/2.0 (+1)	1,667 (+2%)	1mo	$267,999	$161	90
1314 Lady Yoli St	0.04mi	4/2.0 (+1)	1,667 (+2%)	1mo	$254,999	$153	89
2730 Westeros St	0.10mi	3/2.0	1,474 (-10%)	1mo	$240,999	$164	78
2606 Westeros St	0.42mi	3/2.0	1,595 (-2%)	1mo	$329,990	$207	76
2717 Eltonne Gardens Dr	0.15mi	4/2.0 (+1)	1,761 (+8%)	1mo	$265,100	$151	74
1309 Connie Scott Dr	0.25mi	4/2.0 (+1)	1,783 (+9%)	1mo	$331,065	$186	67
1281 Carnaby St	0.47mi	3/2.0	1,519 (-7%)	1mo	$269,000	$177	66
1339 Grey Worm Dr	0.15mi	4/2.0 (+1)	1,850 (+13%)	1mo	$268,999	$145	65
2705 Eltonne Gardens Dr	0.17mi	4/2.0 (+1)	1,855 (+14%)	1mo	$280,000	$151	64
2618 Westeros St	0.38mi	3/2.0	1,829 (+12%)	1mo	$360,000	$197	62
1258 Breebry Dr	0.53mi	3/2.0	1,484 (-9%)	1mo	$265,000	$179	59
1213 Breebry Dr	0.65mi	3/2.0	1,413 (-14%)	1mo	$265,000	$188	47

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

Projected returns pro-forma

4.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.60×
• Total profit: $47,027
• Equity at exit: $148,741

10-year hold

• IRR: 11.4%
• Equity multiple: 2.96×
• Total profit: $154,133
• Equity at exit: $248,420

Cash invested: $78,680 (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 78416

• Home prices YoY: 3.2%
• Active inventory: 44
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,301 high
• Mortgage (P&I): −$1,474
• Tax est. 1.5%: −$351 /mo · $4,215/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-124

Break-even live

Break-even rent $2,458

Max offer price $263,037

Occupancy floor —

Sensitivity live

Price	-10% $70	-5% $-27	+0% $-124	+5% $-221	+10% $-318
Rent	-10% $-306	-5% $-215	+0% $-124	+5% $-33	+10% $58
Rate	-1.0pp $17	-0.5pp $-53	base $-124	+0.5pp $-197	+1.0pp $-271

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: $70,250
• Closing costs: $8,430
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2826 Westeros St Corpus Christi, TX	4.0	3.0	2016	$2,550	$1.26	14d	1	0.01mi
2749 Eltonne Gardens Dr Corpus Christi, TX	4.0	2.0	1894	$2,295	$1.21	14d	1	0.11mi
2741 Eltonne Gardens Dr Corpus Christi, TX	4.0	2.0	1893	$2,500	$1.32	44d	1	0.11mi
2726 Winterfell St Corpus Christi, TX	3.0	2.0	1217	$1,900	$1.56	14d	1	0.17mi
2714 Martell St Corpus Christi, TX	3.0	2.0	1214	$1,950	$1.61	21d	1	0.22mi
2678 Lady Andrea Dr Corpus Christi, TX	4.0	2.0	1780	$3,000	$1.69	14d	1	0.39mi
1269 Thames Chase Dr Corpus Christi, TX	3.0	2.0	1585	$2,350	$1.48	14d	1	0.47mi
1258 Breebry Dr Corpus Christi, TX	3.0	2.0	1484	$2,195	$1.48	14d	1	0.53mi
1405 Irigoyen Ct Corpus Christi, TX	4.0	2.0	2065	$2,800	$1.36	14d	1	0.56mi
1205 Carnaby St Corpus Christi, TX	4.0	2.0	1689	$2,600	$1.54	44d	1	0.64mi

Listing history 14 events

1. 2026-04-08
   status Pending
2. 2026-04-03
   price $280,999
3. 2026-04-02
   price $290,999
4. 2026-03-18
   price $291,999
5. 2026-03-12
   price $289,999
6. 2026-03-07
   price $288,999
7. 2026-03-06
   price $283,999
8. 2026-02-24
   price $282,999
9. 2026-02-17
   price $283,999
10. 2026-02-13
    price $288,999
11. 2026-02-10
    price $287,999
12. 2026-01-31
    price $286,999
13. 2026-01-21
    price $285,999
14. 2026-01-09
    listed $295,999 New

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

Taxation est. · year 1

• Rental income: $27,612
• − Mortgage interest: −$15,740
• − Property taxes: −$4,215
• − Insurance: −$1,405
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − Depreciation: −$8,175
• Taxable loss: −$6,341
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $32/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: London ISD
• NCES district ID: 4827990
• Math proficiency: 65% ▬ 0.00%
• Reading proficiency: 62% ▬ 0.00%
• Median HH income: $123,503
• Composite: 61.03/100
• National rank: #796
• State rank: #13 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): 12,480
• Household income: $43,198
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 386.0

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 (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 38% Black 16% White 4%
• Hispanic origin (detail): Mexican 72%
• Foreign-born: 12% · Canada
• Languages at home: 50% English-only · Spanish 49%

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: ▲ 4.38%
• Current HPI: 139.6557
• 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

-5.1% since first listed

14 events — show timeline

• 2026-04-08 Pending — LERA
• 2026-04-03 Price Changed $280,999 LERA
• 2026-04-02 Price Changed $290,999 LERA
• 2026-03-18 Price Changed $291,999 LERA
• 2026-03-12 Price Changed $289,999 LERA
• 2026-03-07 Price Changed $288,999 LERA
• 2026-03-06 Price Changed $283,999 LERA
• 2026-02-24 Price Changed $282,999 LERA
• 2026-02-17 Price Changed $283,999 LERA
• 2026-02-13 Price Changed $288,999 LERA
• 2026-02-10 Price Changed $287,999 LERA
• 2026-01-31 Price Changed $286,999 LERA
• 2026-01-21 Price Changed $285,999 LERA
• 2026-01-09 Listed $295,999 LERA