None · Corpus Christi, TX 78402

$55,000

1 bd · 1.0 ba · 420 sqft · Townhouse public records · 17 Days on market

Built 1981 928 sqft lot $131/sqft · 50% below area Est $110k · 50% under $575/mo HOA · 49% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• 1% rule +10.0/10.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

Key facts

• New 4 burner stove
• New bathroom
• New refrigerator

Tags

• BEACH CONDO
• NORTH BEACH AREA
• ON DEMAND WATER HEATER
• NEW 4 BURNER STOVE
• NEW REFRIGERATOR
• NEW BATHROOM

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Association fee includes common areas and insurance; Community amenities: beach rights, beach access, clubhouse, pool; Short-term rentals allowed

Exterior

• Parking: Assigned parking; Carport; 2 covered spaces (carport) and 2 garage spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Single-story; Slab foundation; Shingle roof; Waterfront property with Gulf and ocean access; beach front
• Construction: Concrete construction; Built with a shingle roof
• Exterior features: Deck; Covered deck/patio; Cabana

Interior

• Kitchen: Free-standing range; Microwave; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Elevator; Breakfast bar

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $-32 ($-379/yr) — negative.
• To cash-flow at today's rent, offer at most $50k (8.3% below list).
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (8.3% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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: 76 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 17 days — a 2% lower offer ($54k) 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.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $50,425 (8.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.13% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 3.9

CMA / ARV

• ARV (median comp): $109,679
• List price: $55,000
• Delta: -49.85%
• 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 #2327	0.01mi	1/1.0	420 (0%)	1mo	$58,000	$138	98
3938 Surfside Blvd #3342	0.01mi	1/1.0	420 (0%)	2mo	$62,000	$148	98
3938 Surfside Blvd #3114	0.01mi	1/1.0	420 (0%)	2mo	$45,000	$107	98
3938 Surfside Blvd #1219	0.04mi	1/1.0	420 (0%)	1mo	$44,900	$107	97
3938 Surfside Blvd #1316	0.05mi	1/1.0	420 (0%)	1mo	$64,500	$154	97
3938 Surfside Blvd #3225	0.05mi	1/1.0	420 (0%)	1mo	$39,900	$95	97
3938 Surfside Blvd #2332	0.03mi	1/1.0	420 (0%)	2mo	$48,000	$114	97
3938 Surfside Blvd #3224	0.05mi	1/1.0	420 (0%)	1mo	$55,000	$131	97
3938 Surfside Blvd #1225	0.04mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #1207	0.05mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #1327	0.04mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #2305	0.03mi	1/1.0	418 (-0%)	3mo	$100,000	$239	96

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: -19.5%
• Equity multiple: 0.31×
• Total profit: $-10,555
• Equity at exit: $8,201

10-year hold

• IRR: -10.7%
• Equity multiple: 0.33×
• Total profit: $-10,277
• 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 →

ZIP-level market 78402

• Home prices YoY: -8.8%
• Active inventory: 76
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-32

Break-even live

Break-even rent $1,209

Max offer price $50,425

Occupancy floor 98%

Sensitivity live

Price	-10% $6	-5% $-13	+0% $-32	+5% $-51	+10% $-70
Rent	-10% $-124	-5% $-78	+0% $-32	+5% $15	+10% $61
Rate	-1.0pp $-4	-0.5pp $-18	base $-32	+0.5pp $-46	+1.0pp $-60

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
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $575 · $6,900/yr

Listing history 18 events

1. 2026-05-30
   status $55,000 Pending 17 DOM
2. 2026-05-12
   listed $55,000 Active 466-char remark
3. 2025-11-03
   price $65,000
4. 2025-10-14
   price $84,900
5. 2025-10-03
   price $94,900
6. 2025-09-15
   listed $112,000 Active
7. 2020-02-26
   historical

   Show marketing remark (126 chars)

   Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

8. 2020-02-26
   soldstatus

   Show marketing remark (126 chars)

   Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

9. 2020-02-21
   soldstatus Closed

   Show marketing remark (126 chars)

   Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

10. 2020-01-23
    status Pending

    Show marketing remark (126 chars)

    Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

11. 2020-01-13
    historical Option Period

    Show marketing remark (126 chars)

    Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

12. 2019-11-27
    listed $72,900 Active

    Show marketing remark (126 chars)

    Perfectly situated on North Beach, "The Happiest Place in Texas", this colorfully decorated oasis is sure to please.

13. 2013-04-19
    soldstatus
14. 2013-01-07
    listed $40,900
15. 2005-06-21
    soldstatus
16. 2005-06-20
    soldstatus
17. 2005-05-05
    listed $46,500
18. 2004-06-30
    soldstatus

ⓘ 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: $14,028
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$1,600
• Taxable loss: −$898
• Est. tax savings @ 24.0%: +$215
• After-tax cash flow: $-164/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
• City population: 296,836
• Population (ZIP): 392

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 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 17% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 2%

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

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

+18.3% since first listed

18 events — show timeline

• 2026-05-29 Pending — CBMLS
• 2026-05-12 Listed $55,000 CBMLS
• 2025-11-03 Price Changed $65,000 CBMLS
• 2025-10-14 Price Changed $84,900 CBMLS
• 2025-10-03 Price Changed $94,900 CBMLS
• 2025-09-15 Listed $112,000 CBMLS
• 2020-02-26 Delisted — CBMLS
• 2020-02-26 Sold (Public Records) — Public Records
• 2020-02-21 Sold (MLS) — CBMLS
• 2020-01-23 Pending — CBMLS
• 2020-01-13 Contingent — CBMLS
• 2019-11-27 Listed $72,900 CBMLS
• 2013-04-19 Sold (Public Records) — Public Records
• 2013-01-07 Listed $40,900 CBMLS
• 2005-06-21 Sold (Public Records) — Public Records
• 2005-06-20 Sold (MLS) — CBMLS
• 2005-05-05 Listed $46,500 CBMLS
• 2004-06-30 Sold (Public Records) — Public Records

Property tax history

+11.4%/yr

Latest (2025): $2,754 · -3.5% YoY. Source: county tax records.