3938 Surfside #3337 · Corpus Christi, TX 78402

$60,000

1 bd · 1.0 ba · 420 sqft · Condo · 395 Days on market

Built 1981 Good condition $143/sqft · 47% below area Est $114k · 47% under $575/mo HOA · 48% 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
• 1% rule +10.0/10.0
• Cash flow +8.8/30.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.1/10.0

Listing remarks MLS

OWNER FINANCING AVAILABLE!! Wake up to stunning sunrises over Corpus Christi Bay in this adorable one-bedroom North Beach condo, perfectly positioned with direct access to the North Beach Walk! Take a stroll to the USS Lexington or spend the day exploring the Texas State Aquarium—just a short walk away! This cozy coastal retreat features built-in bunks for extra sleeping space and comes fully furnished with all appliances included making it truly turn-key. Take a dip in your choice of two community pools, hangout at the BBQ area or take a short drive to downtown Corpus Christi for dining, shopping and entertainment. Owner financing is available! Whether you're looking for a personal getaway, an income-producing short-term rental (or a little of both) this beachside gem checks all the boxes!

Key facts

• Built-in bunks
• Bbq area
• Two community pools

Tags

• BUILT-IN BUNKS
• FULLY FURNISHED
• TWO COMMUNITY POOLS
• BBQ AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-49 ($-592/yr) — negative.
• To cash-flow at today's rent, offer at most $53k (11.9% below list).
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.3% vs local median 3.7% 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: 92 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 $415 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 395 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask is 3900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 48% of rent.

Recommended offer $52,800 (12.0% 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. It's been on market 395 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
9. 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.
10. 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.
11. 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: 1.98% ✓
• Cap rate: 5.31%
• Cash-on-cash: -3.53%
• DSCR: 0.84
• GRM: 4.2

CMA / ARV

• ARV (median comp): $114,247
• List price: $60,000
• Delta: -47.48%
• 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 #3127	0.01mi	1/1.0	420 (0%)	0mo	$45,000	$107	99
3938 Surfside Blvd #3106	0.00mi	1/1.0	420 (0%)	1mo	$55,000	$131	99
3938 Surfside Blvd #2106	0.02mi	1/1.0	420 (0%)	0mo	$58,000	$138	99
3938 Surfside Blvd #2327	0.01mi	1/1.0	420 (0%)	3mo	$58,000	$138	97
3938 Surfside Blvd #3342	0.00mi	1/1.0	420 (0%)	4mo	$62,000	$148	97
3938 Surfside Blvd #3114	0.01mi	1/1.0	420 (0%)	3mo	$45,000	$107	97
3938 Surfside Blvd #1209	0.04mi	1/1.0	420 (0%)	2mo	$79,500	$189	96
3938 Surfside Blvd #1219	0.04mi	1/1.0	420 (0%)	2mo	$44,900	$107	96
3938 Surfside Blvd #1140	0.06mi	1/1.0	420 (0%)	1mo	$49,000	$117	96
3938 Surfside Blvd #1316	0.04mi	1/1.0	420 (0%)	2mo	$64,500	$154	96
3938 Surfside Blvd #3225	0.04mi	1/1.0	420 (0%)	2mo	$39,900	$95	96
3938 Surfside Blvd #3224	0.04mi	1/1.0	420 (0%)	3mo	$55,000	$131	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: -21.3%
• Equity multiple: 0.26×
• Total profit: $-12,495
• Equity at exit: $8,946

10-year hold

• IRR: -13.3%
• Equity multiple: 0.20×
• Total profit: $-13,420
• Equity at exit: $5,188

Cash invested: $16,800 (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: +50.3% 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: 92
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$575
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-49

Break-even live

Break-even rent $1,253

Max offer price $52,858

Occupancy floor 99%

Sensitivity live

Price	-10% $-8	-5% $-29	+0% $-49	+5% $-70	+10% $-91
Rent	-10% $-143	-5% $-96	+0% $-49	+5% $-2	+10% $45
Rate	-1.0pp $-19	-0.5pp $-34	base $-49	+0.5pp $-65	+1.0pp $-81

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: $15,000
• Closing costs: $1,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $575/mo · $6,900/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $60,000 Active 395 DOM
2. 2026-08-07
   days on market $60,000 Active 394 DOM
3. 2026-08-06
   days on market $60,000 Active 393 DOM
4. 2026-08-05
   days on market $60,000 Active 392 DOM
5. 2026-08-04
   days on market $60,000 Active 391 DOM
6. 2026-08-03
   days on market $60,000 Active 390 DOM
7. 2026-07-31
   days on market $60,000 Active 387 DOM
8. 2026-07-29
   days on market $60,000 Active 385 DOM
9. 2026-07-27
   days on market $60,000 Active 383 DOM
10. 2026-07-25
    days on market $60,000 Active 381 DOM
11. 2026-07-23
    days on market $60,000 Active 379 DOM
12. 2026-07-22
    days on market $60,000 Active 378 DOM
13. 2026-07-21
    days on market $60,000 Active 377 DOM
14. 2026-07-18
    days on market $60,000 Active 374 DOM
15. 2026-07-16
    days on market $60,000 Active 372 DOM
16. 2026-07-16
    days on market $60,000 Active 371 DOM
17. 2026-07-14
    days on market $60,000 Active 370 DOM
18. 2026-07-13
    days on market $60,000 Active 369 DOM
19. 2026-07-12
    pricedays on market $60,000 Active 368 DOM
20. 2026-07-11
    days on market $65,000 Active 367 DOM
21. 2026-07-10
    days on market $65,000 Active 366 DOM
22. 2026-07-09
    days on market $65,000 Active 365 DOM
23. 2026-07-08
    days on market $65,000 Active 364 DOM
24. 2026-07-07
    days on market $65,000 Active 363 DOM
25. 2026-07-06
    days on market $65,000 Active 362 DOM
26. 2026-07-05
    days on market $65,000 Active 361 DOM
27. 2026-07-04
    days on market $65,000 Active 360 DOM
28. 2026-07-03
    days on market $65,000 Active 359 DOM
29. 2026-07-02
    days on market $65,000 Active 358 DOM
30. 2026-07-01
    days on market $65,000 Active 357 DOM
31. 2026-06-30
    days on market $65,000 Active 356 DOM
32. 2026-06-29
    days on market $65,000 Active 355 DOM
33. 2026-06-28
    days on market $65,000 Active 354 DOM
34. 2026-06-28
    days on market $65,000 Active 353 DOM
35. 2026-06-27
    days on market $65,000 Active 352 DOM
36. 2026-06-25
    days on market $65,000 Active 350 DOM
37. 2026-06-23
    days on market $65,000 Active 348 DOM
38. 2026-06-21
    days on market $65,000 Active 347 DOM
39. 2026-06-18
    days on market $65,000 Active 344 DOM
40. 2026-06-17
    days on market $65,000 Active 343 DOM
41. 2026-06-16
    days on market $65,000 Active 342 DOM
42. 2026-06-15
    days on market $65,000 Active 341 DOM
43. 2026-06-14
    days on market $65,000 Active 339 DOM
44. 2026-06-10
    days on market $65,000 Active 336 DOM
45. 2026-06-09
    days on market $65,000 Active 335 DOM
46. 2026-06-08
    days on market $65,000 Active 334 DOM
47. 2026-06-07
    days on market $65,000 Active 333 DOM
48. 2026-06-05
    days on market $65,000 Active 330 DOM
49. 2026-06-03
    days on market $65,000 Active 329 DOM
50. 2026-06-02
    days on market $65,000 Active 328 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: $14,283
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − HOA: −$6,900
• − Depreciation: −$1,745
• Taxable loss: −$1,209
• Est. tax savings @ 24.0%: +$290
• After-tax cash flow: $-302/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 well-maintained one-bedroom North Beach condo offers a cozy coastal retreat with direct beach access and community amenities. Minor updates to the kitchen and bathroom can significantly enhance its value.

Repairs flagged

• Minor kitchen backsplash — tile appears slightly worn
• Minor bathroom vanity — light wear on paint

Value-add opportunities

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both replace kitchen backsplash tiles — New backsplash can improve the kitchen's aesthetics and functionality ↑
• Both update bathroom vanity — A new vanity can enhance the bathroom's appearance and functionality ↑

ⓘ 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%
• Common ancestry: Slovak 2%
• Foreign-born: 3% · Canada
• 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

+42.9% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $65,000 CBMLS
• 2026-03-21 Listed for Rent $1,500 CBMLS
• 2025-07-09 Listed $70,000 CBMLS
• 2009-01-28 Listed $54,900 CBMLS
• 2008-04-28 Listed $64,900 CBMLS
• 2006-12-22 Sold (MLS) — CBMLS
• 2006-10-16 Listed $52,000 CBMLS
• 2006-01-18 Listed $45,500 CBMLS