321 Paloma St · Corpus Christi, TX 78412

$133,000

3 bd · 1.0 ba · 978 sqft · SingleFamily public records · 81 Days on market

Built 1940 6,874 sqft lot $136/sqft · 20% below area Est $167k · 20% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.6/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just off Ocean Drive, this 3-bedroom, 1-bath home offers a solid opportunity for someone willing to put in some work. Features some original hardwood floors and retains some of its original character. Convenient location close to the bay, shopping, and dining. Good opportunity for investors or buyers looking for a property with potential.

Key facts

• Convenient location
• Close to the bay
• Shopping and dining

Tags

• ORIGINAL HARDWOOD FLOORS
• CONVENIENT LOCATION
• CLOSE TO THE BAY
• SHOPPING AND DINING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $133k.

Deal economics

• At list price, monthly cash flow is $58 ($694/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $133k).
• Recommended offer: $125k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 soft (-1.5%/yr); 207 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $920 of loan paydown is wiped out by about $4k 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 81 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $50k; list at $133k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,020 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.06% ✓
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 7.9

CMA / ARV

• ARV (median comp): $166,708
• List price: $133,000
• Delta: -20.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Wray	0.04mi	2/1.0 (-1)	960 (-2%)	24mo	$170,000	$177	70
338 Paloma St	0.06mi	2/1.0 (-1)	872 (-11%)	21mo	$179,900	$206	57
617 Pennington Dr	0.63mi	3/2.0	993 (+2%)	11mo	$224,999	$227	54
525 Sheridan Dr	0.64mi	3/1.0	991 (+1%)	22mo	$189,900	$192	50
821 Crestview Dr	0.68mi	3/2.0	1,124 (+15%)	22mo	$170,000	$151	21
406 Palmetto St	0.73mi	2/2.0 (-1)	1,110 (+14%)	16mo	$199,900	$180	21

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.41×
• Total profit: $-21,885
• Equity at exit: $19,831

10-year hold

• IRR: -17.2%
• Equity multiple: 0.20×
• Total profit: $-29,815
• Equity at exit: $11,499

Cash invested: $37,240 (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 78412

• Rents YoY: -1.5%
• Active inventory: 207
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$697
• Tax from tax record: −$233 /mo · $2,798/yr
• Insurance: −$55
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $58

Break-even live

Break-even rent $1,332

Max offer price $133,000

Occupancy floor 91%

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: $33,250
• Closing costs: $3,990
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4848 S Alameda St Corpus Christi, TX	2.0	1.0	1085	$975	$0.90	43d	1	0.26mi
4657 Ocean Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	931	$1,890	$2.03	13d	7	0.42mi
4645 Ocean Dr Corpus Christi, TX	2.0	1.0–2.0	760	$1,320	$1.74	13d	1	0.48mi
4602 Ocean Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	972	$3,671	$3.77	13d	30	0.51mi
4422 S Alameda St Corpus Christi, TX	1.0–3.0	1.0–2.0	820	$1,000	$1.22	13d	1	0.75mi
5825 Hugo Dr Corpus Christi, TX	3.0	1.0	970	$1,550	$1.60	13d	1	0.83mi
946 Lum Ave Corpus Christi, TX	3.0	1.0	1045	$1,300	$1.24	43d	1	0.91mi
318 Aberdeen Ave Unit 1268410P Corpus Christi, TX	3.0	1.5	1076	$4,405	$4.09	43d	1	1.04mi
4201 Junior Ter Corpus Christi, TX	3.0	1.0	1016	$1,600	$1.57	43d	1	1.04mi
4224 Ocean Dr Corpus Christi, TX	2.0	1.0	699	$949	$1.36	43d	7	1.06mi
417 Whitehall Dr Corpus Christi, TX	3.0	1.0	969	$1,395	$1.44	43d	1	1.14mi
5808 S Alameda St Unit 5822A Corpus Christi, TX	2.0	1.0	931	$1,199	$1.29	21d	1	1.15mi
5808 S Alameda St Corpus Christi, TX	1.0–2.0	1.0	803	$1,199	$1.49	13d	2	1.15mi
5002 Bevly Dr Unit B Corpus Christi, TX	2.0	1.0	550	$699	$1.27	21d	1	1.26mi
802 Barry St Corpus Christi, TX	2.0	1.5	1102	$1,529	$1.39	43d	1	1.31mi

Listing history 31 events

1. 2026-06-18
   days on market $133,000 Active 81 DOM
2. 2026-06-17
   days on market $133,000 Active 80 DOM
3. 2026-06-16
   days on market $133,000 Active 79 DOM
4. 2026-06-15
   days on market $133,000 Active 78 DOM
5. 2026-06-14
   days on market $133,000 Active 76 DOM
6. 2026-06-10
   days on market $133,000 Active 73 DOM
7. 2026-06-09
   days on market $133,000 Active 72 DOM
8. 2026-06-08
   days on market $133,000 Active 71 DOM
9. 2026-06-07
   days on market $133,000 Active 70 DOM
10. 2026-06-05
    days on market $133,000 Active 67 DOM
11. 2026-06-03
    days on market $133,000 Active 66 DOM
12. 2026-06-02
    days on market $133,000 Active 65 DOM
13. 2026-06-01
    days on market $133,000 Active 64 DOM
14. 2026-05-31
    days on market $133,000 Active 63 DOM
15. 2026-05-30
    days on market $133,000 Active 62 DOM
16. 2026-04-04
    listed $133,000 Active 348-char remark

    Show marketing remark (348 chars)

    Located just off Ocean Drive, this 3-bedroom, 1-bath home offers a solid opportunity for someone willing to put in some work. Features some original hardwood floors and retains some of its original character. Convenient location close to the bay, shopping, and dining. Good opportunity for investors or buyers looking for a property with potential.

17. 2026-03-29
    historical 348-char remark

    Show marketing remark (348 chars)

    Located just off Ocean Drive, this 3-bedroom, 1-bath home offers a solid opportunity for someone willing to put in some work. Features some original hardwood floors and retains some of its original character. Convenient location close to the bay, shopping, and dining. Good opportunity for investors or buyers looking for a property with potential.

18. 2026-03-16
    listed $133,000 Active 348-char remark

    Show marketing remark (348 chars)

    Located just off Ocean Drive, this 3-bedroom, 1-bath home offers a solid opportunity for someone willing to put in some work. Features some original hardwood floors and retains some of its original character. Convenient location close to the bay, shopping, and dining. Good opportunity for investors or buyers looking for a property with potential.

19. 2021-03-09
    soldstatus
20. 2018-02-07
    historical 358-char remark

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

21. 2018-02-07
    soldstatus

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

22. 2018-02-05
    soldstatus Closed 358-char remark

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

23. 2017-12-16
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

24. 2017-12-13
    historical Option Period 358-char remark

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

25. 2017-08-01
    listed $105,000 Active 358-char remark

    Show marketing remark (358 chars)

    Cute and cozy home, just walking distance to Ocean Drive. This clean and quaint home has 3 bedrooms, 1 bath. Washer, dryer, and refrigerator. Nice large back yard. Hardwood, laminate, and ceramic tiled floors. Custom wood built cabinets, Central heat and air. Ready to move!! Great location! Near Naval Air station, Texas A & M University and downtown.

26. 2006-05-22
    listed $95,000
27. 2005-11-28
    soldstatus
28. 2005-11-28
    soldstatus
29. 2005-11-23
    soldstatus
30. 2005-09-12
    listed $70,000
31. 1996-09-01
    soldstatus $49,900

ⓘ 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: $2,798 · $233/mo
• Projected year-2 tax: $2,798 · $233/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 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: $16,866
• − Mortgage interest: −$7,450
• − Property taxes: −$2,798
• − Insurance: −$1,462
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$3,869
• Taxable loss: −$1,412
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $1,033/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): 38,631
• Household income: $61,215
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1932.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 57% White 34% Two or more races 29% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 22% Other Indo-European 1% Vietnamese 1%

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: ▼ -255.29%
• Current HPI: 177.36
• Rent YoY: ▼ -1.53%
• 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

+166.5% since first listed

16 events — show timeline

• 2026-04-04 Listed $133,000 CBMLS
• 2026-03-29 Delisted — CBMLS
• 2026-03-16 Listed $133,000 CBMLS
• 2021-03-09 Sold (Public Records) — Public Records
• 2018-02-07 Delisted — CBMLS
• 2018-02-07 Sold (Public Records) — Public Records
• 2018-02-05 Sold (MLS) — CBMLS
• 2017-12-16 Pending — CBMLS
• 2017-12-13 Contingent — CBMLS
• 2017-08-01 Listed $105,000 CBMLS
• 2006-05-22 Listed $95,000 CBMLS
• 2005-11-28 Sold (Public Records) — Public Records
• 2005-11-28 Sold (Public Records) — Public Records
• 2005-11-23 Sold (MLS) — CBMLS
• 2005-09-12 Listed $70,000 CBMLS
• 1996-09-01 Sold (Public Records) $49,900 Public Records

Property tax history

-0.1%/yr

Latest (2025): $2,798 · -4.6% YoY. Source: county tax records.