2534 Cresterrace Dr · Corpus Christi, TX 78415

$169,990

3 bd · 2.0 ba · 995 sqft · SingleFamily public records · 123 Days on market

Built 1984 4,500 sqft lot $171/sqft · 8% below area Est $185k · 8% under

---

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 +16.3/30.0
• ARV discount +11.1/15.0
• 1% rule +5.2/10.0
• DSCR +5.1/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new home at 2534 Cresterrace Dr, Corpus Christi, TX! This charming 995 sqft gem offers the perfect blend of comfort and opportunity. Featuring 3 cozy bedrooms and 2 baths, it's an ideal sanctuary for first-time homebuyers or a smart investment for savvy investors. With its inviting layout and prime location, this property offers both a warm, welcoming atmosphere and fantastic rental potential. Explore the vibrant local community and take advantage of a flourishing neighborhood. The neighborhood around 2534 Cresterrace Dr, is known for its friendly community atmosphere and convenient amenities. Residents enjoy easy access to local schools, parks, and shopping centers, making

Key facts

• Scenic views
• Nearby coastline
• Prime location

Tags

• PRIME LOCATION
• EASY ACCESS TO LOCAL SCHOOLS
• EASY ACCESS TO PARKS
• VARIOUS DINING OPTIONS
• NEARBY COASTLINE
• SCENIC VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 (+2.3%/yr); 417 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 38% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $49k; list at $170k implies a 245% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,591 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 6.96%
• Cash-on-cash: 2.37%
• DSCR: 1.11
• GRM: 8.2

CMA / ARV

• ARV (median comp): $184,804
• List price: $169,990
• Delta: -8.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2533 Cresterrace Dr	0.03mi	3/2.0	995 (0%)	19mo	$154,999	$156	83
2510 Crestlea Dr	0.06mi	3/2.0	1,075 (+8%)	3mo	$198,000	$184	81
2510 Cresterrace Dr	0.06mi	3/2.0	1,036 (+4%)	19mo	$149,900	$145	74
2518 Allencrest Dr	0.09mi	3/2.0	1,069 (+7%)	16mo	$174,900	$164	70
2754 Camargo Dr	0.35mi	3/2.0	1,004 (+1%)	15mo	$195,000	$194	69
2613 Camargo Dr	0.11mi	3/2.0	1,086 (+9%)	13mo	$200,000	$184	69
6117 Camwood Dr	0.15mi	3/2.0	1,094 (+10%)	10mo	$179,900	$164	68
2722 Camargo Dr	0.32mi	3/2.0	1,060 (+6%)	10mo	$210,000	$198	66
2733 Alvin Dr	0.27mi	3/2.0	1,095 (+10%)	8mo	$193,000	$176	64
6154 Angus Dr	0.18mi	3/2.0	1,097 (+10%)	14mo	$210,000	$191	63
2642 Allencrest Dr	0.11mi	3/2.0	1,080 (+8%)	22mo	$208,000	$193	62

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-22,653
• Equity at exit: $25,346

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-16,434
• Equity at exit: $14,698

Cash invested: $47,597 (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 78415

• Rents YoY: 2.3%
• Active inventory: 417
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$314 /mo · $3,774/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $94

Break-even live

Break-even rent $1,616

Max offer price $169,990

Occupancy floor 90%

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: $42,498
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6013 Beardmore Dr Corpus Christi, TX	3.0	2.0	1104	$1,700	$1.54	21d	1	0.14mi
1710 Citation Dr Corpus Christi, TX	3.0	2.0	1056	$1,890	$1.79	43d	1	0.99mi
2709 Milo St Corpus Christi, TX	3.0	2.0	1122	$1,700	$1.52	13d	1	1.07mi
5623 Carroll Ln Corpus Christi, TX	2.0	1.0	750	$825	$1.10	43d	1	1.47mi

Listing history 5 events

1. 2026-05-30
   statusdays on market $169,990 Pending 123 DOM
2. 2023-08-31
   historical $1,550
3. 2023-07-27
   price $1,550
4. 2023-07-16
   listed $1,650
5. 1997-06-16
   soldstatus $49,233

ⓘ 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: $3,774 · $314/mo
• Projected year-2 tax: $3,774 · $314/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 · 26 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: $20,820
• − Mortgage interest: −$9,522
• − Property taxes: −$3,774
• − Insurance: −$850
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$4,945
• Taxable loss: −$1,602
• Est. tax savings @ 24.0%: +$384
• After-tax cash flow: $1,512/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): 43,080
• Household income: $54,990
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1730.0

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 (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 41% White 12% Black 3%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 9% · Canada
• Languages at home: 59% English-only · Spanish 40%

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: ▼ -173.20%
• Current HPI: 158.011
• Rent YoY: ▲ 2.32%
• 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

-96.9% since first listed

4 events — show timeline

• 2023-08-31 Rental Removed $1,550 APPFOLIO
• 2023-07-27 Price Changed $1,550 APPFOLIO
• 2023-07-16 Listed for Rent $1,650 APPFOLIO
• 1997-06-16 Sold (Public Records) $49,233 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,774 · +4.6% YoY. Source: county tax records.