3938 Surfside Blvd #3223 · Corpus Christi, TX 78402

$55,000

1 bd · 1.0 ba · 420 sqft · Condo · 229 Days on market

Built 1981 Good condition $131/sqft · 52% below area $575/mo HOA · 46% of rent

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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).

• Cash flow +16.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

Fully furnished 1-bedroom, 1-bath beachfront condo located in the gated Villa Del Sol Condominiums on North Beach in Corpus Christi. Unit 3223 offers private gated beach access and stunning water views, filling the space with natural light and a relaxing coastal atmosphere. The functional layout comfortably accommodates up to six guests with built-in bunk beds and a pull-out sofa, and also features a dedicated office space with built-in shelving and desk ideal for working remotely. Enjoy a full kitchen for your convenience. Whether you're seeking a personal vacation retreat, a flexible work getaway, or an income-producing investment, this property offers excellent short-term or long-term rental potential. Community amenities include direct beach access, two swimming pools, a tiki hut lounge, and ample parking. Conveniently located just minutes from the USS Lexington, Texas State Aquarium, dining, and local attractions.

Key facts

• Beachfront condo
• Water views
• Full kitchen

Tags

• BEACHFRONT CONDO
• PRIVATE GATED BEACH ACCESS
• WATER VIEWS
• DEDICATED OFFICE SPACE
• FULL KITCHEN
• DESIGNATED COFFEE STATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $28 ($331/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.9% 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.
• Zoned schools: Windsor Park G/T (math 85% / reading 90%, grade A+, #6 of 4,322 statewide, top 0%, 609 students, 29% FRL); Adkins Middle (math 40% / reading 39%, grade F, #660 of 1,662 statewide, top 41%, 956 students, 48% FRL); Roy Miller H S And Metro School of Design (math 24% / reading 32%, grade F, #1,170 of 1,632 statewide, top 72%, 1,538 students, 88% FRL).
• Zoned-school proficiency averages 52% at this address vs 33% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Corpus Christi ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 118 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 $380 of loan paydown is wiped out by about $2k 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 229 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $64k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.26% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• GRM: 3.7

CMA / ARV

• ARV (median comp): $114,847
• List price: $55,000
• Delta: -52.11%
• 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 #3118	0.00mi	1/1.0	420 (0%)	0mo	$45,000	$107	100
3938 Surfside Blvd #3309	0.04mi	1/1.0	420 (0%)	1mo	$69,900	$166	97
3938 Surfside Blvd #1343	0.01mi	1/1.0	420 (0%)	3mo	$52,000	$124	97
3938 Surfside Blvd #3111	0.04mi	1/1.0	420 (0%)	1mo	$50,000	$119	97
3938 Surfside Blvd #2138	0.02mi	1/1.0	420 (0%)	2mo	$44,900	$107	97
3938 Surfside Blvd #3127	0.04mi	1/1.0	420 (0%)	3mo	$45,000	$107	96
3938 Surfside Blvd #1140	0.02mi	1/1.0	420 (0%)	4mo	$49,000	$117	95
3938 Surfside Blvd #3106	0.04mi	1/1.0	420 (0%)	4mo	$55,000	$131	95
3938 Surfside Blvd #2106	0.06mi	1/1.0	420 (0%)	3mo	$58,000	$138	95
3938 Surfside Blvd #2105	0.07mi	1/1.0	418 (-0%)	3mo	$65,000	$156	94
3938 Surfside Blvd #1209	0.05mi	1/1.0	420 (0%)	5mo	$79,500	$189	94
3938 Surfside Blvd #3321	0.15mi	1/1.0	420 (0%)	1mo	$67,000	$160	92

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-6,782
• Equity at exit: $8,201

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-2,130
• Equity at exit: $4,755

Cash invested: $15,400 (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 →

Active competition Active MLS

• For sale now: 1 active · 3 under contract
• Median asking: $76,000 ($181/sqft)
• Median days on market: 363 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +51.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78402

• Home prices YoY: -8.8%
• Active inventory: 118
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$575
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $28

Break-even live

Break-even rent $1,209

Max offer price $55,000

Occupancy floor 93%

Sensitivity live

Price	-10% $66	-5% $47	+0% $28	+5% $9	+10% $-10
Rent	-10% $-71	-5% $-22	+0% $28	+5% $77	+10% $126
Rate	-1.0pp $55	-0.5pp $42	base $28	+0.5pp $13	+1.0pp $-1

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: $13,750
• Closing costs: $1,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $575/mo · $6,900/yr condo

• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $55,000 Active 229 DOM
2. 2026-11-07
   days on market $55,000 Active 228 DOM
3. 2026-11-06
   days on market $55,000 Active 227 DOM
4. 2026-11-05
   days on market $55,000 Active 226 DOM
5. 2026-11-04
   days on market $55,000 Active 225 DOM
6. 2026-11-02
   days on market $55,000 Active 223 DOM
7. 2026-11-01
   days on market $55,000 Active 222 DOM
8. 2026-10-31
   days on market $55,000 Active 221 DOM
9. 2026-10-30
   days on market $55,000 Active 220 DOM
10. 2026-10-29
    days on market $55,000 Active 219 DOM
11. 2026-10-28
    days on market $55,000 Active 218 DOM
12. 2026-10-27
    days on market $55,000 Active 217 DOM
13. 2026-10-26
    days on market $55,000 Active 216 DOM
14. 2026-10-25
    days on market $55,000 Active 215 DOM
15. 2026-10-24
    days on market $55,000 Active 214 DOM
16. 2026-10-23
    days on market $55,000 Active 213 DOM
17. 2026-10-22
    days on market $55,000 Active 212 DOM
18. 2026-10-21
    days on market $55,000 Active 211 DOM
19. 2026-10-20
    days on market $55,000 Active 210 DOM
20. 2026-10-19
    days on market $55,000 Active 209 DOM
21. 2026-10-18
    days on market $55,000 Active 208 DOM
22. 2026-10-17
    days on market $55,000 Active 207 DOM
23. 2026-10-16
    days on market $55,000 Active 206 DOM
24. 2026-10-15
    days on market $55,000 Active 205 DOM
25. 2026-10-14
    days on market $55,000 Active 204 DOM
26. 2026-10-13
    days on market $55,000 Active 203 DOM
27. 2026-10-12
    days on market $55,000 Active 202 DOM
28. 2026-10-11
    days on market $55,000 Active 201 DOM
29. 2026-10-10
    days on market $55,000 Active 200 DOM
30. 2026-10-09
    days on market $55,000 Active 199 DOM
31. 2026-10-08
    days on market $55,000 Active 198 DOM
32. 2026-10-07
    days on market $55,000 Active 197 DOM
33. 2026-10-06
    days on market $55,000 Active 196 DOM
34. 2026-10-05
    days on market $55,000 Active 195 DOM
35. 2026-10-04
    days on market $55,000 Active 194 DOM
36. 2026-10-03
    days on market $55,000 Active 193 DOM
37. 2026-10-02
    days on market $55,000 Active 192 DOM
38. 2026-10-01
    days on market $55,000 Active 191 DOM
39. 2026-09-30
    days on market $55,000 Active 190 DOM
40. 2026-09-29
    days on market $55,000 Active 189 DOM
41. 2026-09-28
    days on market $55,000 Active 188 DOM
42. 2026-09-27
    days on market $55,000 Active 187 DOM
43. 2026-09-26
    days on market $55,000 Active 186 DOM
44. 2026-09-25
    days on market $55,000 Active 185 DOM
45. 2026-09-24
    days on market $55,000 Active 184 DOM
46. 2026-09-23
    days on market $55,000 Active 183 DOM
47. 2026-09-22
    days on market $55,000 Active 182 DOM
48. 2026-09-21
    days on market $55,000 Active 181 DOM
49. 2026-09-20
    days on market $55,000 Active 180 DOM
50. 2026-09-19
    days on market $55,000 Active 179 DOM

ⓘ 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: $14,927
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − HOA: −$6,900
• − Depreciation: −$1,600
• Taxable loss: −$142
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $365/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $2,100–$6,300 screening

This fully furnished beachfront condo in Corpus Christi is in good condition with a good location and a great view. It offers a good investment opportunity with potential for value appreciation through minor updates.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the overall appearance and value of the property. ↑
• Both Updating the kitchen backsplash — A modern backsplash can improve the aesthetic appeal and functionality of the kitchen. ↑
• Both Upgrading the bathroom fixtures — Modern fixtures can enhance the bathroom's functionality and appeal. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Oak Park Special Emphasis School F TX #3,974/4,322 Nat'l #36,039/41,679 Middle Adkins Middle F TX #660/1,662 Nat'l #6,151/14,009 High Roy Miller H S And Metro School Of Design F TX #1,170/1,632 Nat'l #11,740/17,239

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

B Composite livability gradescore 78/100

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 · 418,037 people
• City population: 296,836
• Metro: Corpus Christi, TX
• Population (ZIP): 392
• Household income: $53,102
• Rent vs Own: 27.5% rent · 72.5% own

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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%

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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%
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 2%

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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

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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

+303.4% since first listed

8 events — show timeline

• 2026-03-21 Listed $119,000 CBMLS
• 2024-06-03 Price Changed $129,000 CBMLS
• 2024-04-04 Listed $139,000 CBMLS
• 2017-01-08 Delisted — CBMLS
• 2016-09-14 Price Changed $68,000 CBMLS
• 2016-07-12 Listed $64,000 CBMLS
• 2001-12-31 Sold (MLS) — CBMLS
• 2001-10-30 Listed $29,500 CBMLS