1731 15th St · Corpus Christi, TX 78404

$165,000

6 bd · 3.0 ba · 2,880 sqft · MultiFamily public records · 220 Days on market

Built 1970 6,251 sqft lot $57/sqft · 27% below area Est $225k · 27% under

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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Prime Investor Opportunity: 3-Unit Fixer-Upper with Value-Add Potential! Unlock massive upside in this multi-family gem—perfect for savvy investors ready to renovate and maximize rental income. Featuring three spacious 2-bedroom, 1-bath units across two buildings: 1731 (Front House, 1st Floor): 874 sq ft, ideal ground-level layout for easy access. 1729 (Front House, 2nd Floor): 905 sq ft, bright and airy with upper-level views and deck. 1729 1/2 (Back Building): 912 sq ft spanning the 2nd floor and half of the 1st—versatile space with room to shine. Bonus Revenue Stream: A rentable 300 sq ft storage unit on the back building's 1st floor, ready to boost your cash flow! This property needs repairs but offers endless potential for flips, long-term holds, or Airbnb conversions. Seller's lender open to financing for a year until renovation and refinance complete—let's discuss terms! All offers considered—act fast and submit yours today!

Key facts

• 6,251 sq ft lot
• Built 1970
• Listed 220 days

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $3,705/mo this rent would consume 73% of the median local household income ($61k/yr) (locally 596% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $99k; list at $165k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 2.25% ✓
• Cap rate: 18.52%
• Cash-on-cash: 43.66%
• DSCR: 2.94
• GRM: 3.7

CMA / ARV

• ARV (median comp): $225,363
• List price: $165,000
• Delta: -26.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.87% rent growth · sell at horizon

5-year hold

• IRR: 39.3%
• Equity multiple: 2.65×
• Total profit: $76,284
• Equity at exit: $24,602

10-year hold

• IRR: 45.1%
• Equity multiple: 5.07×
• Total profit: $188,073
• Equity at exit: $14,266

Cash invested: $46,200 (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: 11.1×

Monthly cashflow live

• Estimated rent: $3,705 high
• Mortgage (P&I): −$865
• Tax from tax record: −$312 /mo · $3,743/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$778
• Net cashflow: $1,681

Break-even live

Break-even rent $1,577

Max offer price $165,000

Occupancy floor 50%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,705
Total (3 units)			$3,705

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $165,000 Active 220 DOM
2. 2026-06-17
   days on market $165,000 Active 219 DOM
3. 2026-06-16
   days on market $165,000 Active 218 DOM
4. 2026-06-15
   days on market $165,000 Active 217 DOM
5. 2026-06-14
   days on market $165,000 Active 215 DOM
6. 2026-06-10
   days on market $165,000 Active 212 DOM
7. 2026-06-09
   days on market $165,000 Active 211 DOM
8. 2026-06-08
   days on market $165,000 Active 210 DOM
9. 2026-06-07
   days on market $165,000 Active 209 DOM
10. 2026-06-05
    days on market $165,000 Active 206 DOM
11. 2026-06-03
    days on market $165,000 Active 205 DOM
12. 2026-06-02
    days on market $165,000 Active 204 DOM
13. 2026-06-01
    days on market $165,000 Active 203 DOM
14. 2026-05-31
    days on market $165,000 Active 202 DOM
15. 2026-05-30
    days on market $165,000 Active 201 DOM
16. 2025-11-10
    listed $165,000 Active 974-char remark

    Show marketing remark (974 chars)

    Prime Investor Opportunity: 3-Unit Fixer-Upper with Value-Add Potential! Unlock massive upside in this multi-family gem—perfect for savvy investors ready to renovate and maximize rental income. Featuring three spacious 2-bedroom, 1-bath units across two buildings: 1731 (Front House, 1st Floor): 874 sq ft, ideal ground-level layout for easy access. 1729 (Front House, 2nd Floor): 905 sq ft, bright and airy with upper-level views and deck. 1729 1/2 (Back Building): 912 sq ft spanning the 2nd floor and half of the 1st—versatile space with room to shine. Bonus Revenue Stream: A rentable 300 sq ft storage unit on the back building's 1st floor, ready to boost your cash flow! This property needs repairs but offers endless potential for flips, long-term holds, or Airbnb conversions. Seller's lender open to financing for a year until renovation and refinance complete—let's discuss terms! All offers considered—act fast and submit yours today!

17. 2024-08-11
    listed $139,000 Active
18. 2016-02-19
    soldstatus
19. 2015-12-01
    historical
20. 2015-10-14
    price $100,000
21. 2015-10-05
    listed $119,900 Active
22. 2015-08-02
    historical
23. 2015-07-24
    soldstatus
24. 2015-02-16
    listed $100,000
25. 2009-10-14
    soldstatus
26. 2001-08-14
    soldstatus $99,000

ⓘ 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: $3,743 · $312/mo
• Projected year-2 tax: $3,743 · $312/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $44,460
• − Mortgage interest: −$9,243
• − Property taxes: −$3,743
• − Insurance: −$825
• − Repairs & maintenance: −$3,557
• − Management: −$3,557
• − Depreciation: −$4,800
• Taxable income: $18,736
• Est. tax owed @ 24.0%: −$4,497
• After-tax cash flow: $15,676/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

+66.7% since first listed

11 events — show timeline

• 2025-11-10 Listed $165,000 CBMLS
• 2024-08-11 Listed $139,000 CBMLS
• 2016-02-19 Sold (Public Records) — Public Records
• 2015-12-01 Delisted — CBMLS
• 2015-10-14 Price Changed $100,000 CBMLS
• 2015-10-05 Listed $119,900 CBMLS
• 2015-08-02 Delisted — CBMLS
• 2015-07-24 Sold (Public Records) — Public Records
• 2015-02-16 Listed $100,000 CBMLS
• 2009-10-14 Sold (Public Records) — Public Records
• 2001-08-14 Sold (Public Records) $99,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $3,743 · -7.1% YoY. Source: county tax records.