7122 Premont Dr Unit C202 · Corpus Christi, TX 78414

$99,000

2 bd · 2.0 ba · 839 sqft · Condo · 92 Days on market

Built 1984 Good condition $118/sqft · 13% below area Est $113k · 13% under $306/mo HOA · 21% of rent

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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 +21.7/30.0
• ARV discount +13.2/15.0
• 1% rule +9.6/10.0
• DSCR +6.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE Southside opportunity here for first time homebuyer, a young professional or investor. Turnkey, move-in Ready. The well thought-out floor plan includes a spacious primary bedroom plus an upstairs loft that serves nicely as a second bedroom, remote office, or flex space, plus its own en-suite full bathroom. (Notable upgrade to the original design, most other units lacking. ) Its open-concept layout, paired with high ceilings and natural light, creates a bright, airy atmosphere that enhances the sense of space. All appliances convey, with washer/dryer combo in laundry closet; and Refrigerator in kitchen. Conveniently located between the new Del Mar College campus, Hospitals, shopping and great restaurants. Come check it out!

Key facts

• Upstairs loft
• Natural light
• High ceilings

Tags

• SPACIOUS PRIMARY BEDROOM
• UPSTAIRS LOFT
• EN-SUITE FULL BATHROOM
• OPEN-CONCEPT LAYOUT
• HIGH CEILINGS
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $99k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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); 610 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent is only 18% of the median local income ($99k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 92 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.46% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 5.7

CMA / ARV

• ARV (median comp): $113,374
• List price: $99,000
• Delta: -12.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-7,692
• Equity at exit: $14,761

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $473
• Equity at exit: $8,560

Cash invested: $27,720 (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 78414

• Home prices YoY: -18.1%
• Rents YoY: 1.9%
• Active inventory: 610
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,445 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$306
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $152

Break-even live

Break-even rent $1,253

Max offer price $99,000

Occupancy floor 84%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7202 Mansions Dr Unit J3 1 Corpus Christi, TX	2.0	2.0	1057	$1,695	$1.60	43d	1	0.34mi
7252 Mansions Dr Unit D3 Corpus Christi, TX	2.0	2.0	1057	$1,600	$1.51	43d	1	0.39mi
6901 Saratoga Blvd Corpus Christi, TX	1.0	1.0	856	$1,209	$1.41	13d	1	0.43mi
7510 Wooldridge Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1148	$1,830	$1.59	43d	1	0.53mi
2921 Airline Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	982	$1,664	$1.69	43d	1	0.62mi
3310 Rodd Field Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	847	$1,629	$1.92	13d	35	0.89mi
1901 Rodd Field Rd Unit 126 Corpus Christi, TX	1.0	1.0	588	$850	$1.45	21d	1	0.99mi
1901 Rodd Field Rd Unit 144 Corpus Christi, TX	2.0	1.0	813	$999	$1.23	43d	1	0.99mi
6225 Saratoga Blvd Corpus Christi, TX	1.0–3.0	1.0–2.0	962	$1,516	$1.58	21d	27	1.02mi
6706 Rhonda Dr Corpus Christi, TX	2.0	1.0	1002	$1,375	$1.37	21d	1	1.03mi
6225 Saratoga Blvd Corpus Christi, TX	1.0–3.0	1.0–2.0	962	$1,534	$1.59	13d	27	1.03mi
6162 Misty Meadow Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	729	$1,185	$1.62	21d	5	1.10mi
6620 Hardwick Dr Corpus Christi, TX	2.0	1.0	1000	$1,250	$1.25	43d	1	1.19mi
2001 Woodbend Dr Corpus Christi, TX	2.0–3.0	2.0	1267	$1,609	$1.27	13d	17	1.23mi
7001 Lipes Blvd Apt 507 Corpus Christi, TX	2.0	2.0	1040	$1,200	$1.15	43d	1	1.26mi
7001 Lipes Blvd Unit 2211 Corpus Christi, TX	1.0	1.0	900	$1,000	$1.11	43d	1	1.26mi
7001 Lipes Blvd Unit 1009 Corpus Christi, TX	2.0	2.0	1040	$1,000	$0.96	43d	1	1.33mi
5929 Wooldridge Rd Unit 1804 Corpus Christi, TX	1.0	1.0	650	$1,000	$1.54	43d	1	1.33mi
5929 Wooldridge Rd Unit 2906 Corpus Christi, TX	2.0	2.0	1100	$1,000	$0.91	43d	1	1.33mi
5929 Wooldridge Rd Unit 2405 Corpus Christi, TX	2.0	2.0	1100	$1,100	$1.00	43d	1	1.36mi
2002 Airline Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	794	$1,125	$1.42	13d	19	1.41mi
1966 Ennis Joslin Rd Corpus Christi, TX	2.0	2.0	986	$1,767	$1.79	13d	53	1.41mi
1641 Nile Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	965	$1,255	$1.30	13d	31	1.45mi
2058 Hidden Lk Corpus Christi, TX	2.0	1.0	991	$1,200	$1.21	21d	1	1.47mi
6136 Hidden Cv Corpus Christi, TX	2.0	1.5	1047	$1,450	$1.38	43d	1	1.48mi
6118 Hidden Cv Corpus Christi, TX	2.0	1.0	991	$1,050	$1.06	43d	1	1.48mi
6685 Lipes Blvd Corpus Christi, TX	1.0–3.0	1.0–2.0	1140	$1,804	$1.58	13d	1	1.48mi

HOA detail condo

• Monthly dues: $306 · $3,672/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $99,000 Active 92 DOM
2. 2026-06-17
   days on market $99,000 Active 91 DOM
3. 2026-06-16
   days on market $99,000 Active 90 DOM
4. 2026-06-15
   days on market $99,000 Active 89 DOM
5. 2026-06-14
   days on market $99,000 Active 87 DOM
6. 2026-06-10
   days on market $99,000 Active 84 DOM
7. 2026-06-09
   days on market $99,000 Active 83 DOM
8. 2026-06-08
   days on market $99,000 Active 82 DOM
9. 2026-06-07
   days on market $99,000 Active 81 DOM
10. 2026-06-05
    pricedays on market $99,000 Active 78 DOM
11. 2026-06-03
    days on market $105,000 Active 77 DOM
12. 2026-06-02
    days on market $105,000 Active 76 DOM
13. 2026-06-01
    days on market $105,000 Active 75 DOM
14. 2026-05-31
    days on market $105,000 Active 74 DOM
15. 2026-05-30
    days on market $105,000 Active 73 DOM
16. 2026-04-08
    price $105,000 738-char remark

    Show marketing remark (738 chars)

    NICE Southside opportunity here for first time homebuyer, a young professional or investor. Turnkey, move-in Ready. The well thought-out floor plan includes a spacious primary bedroom plus an upstairs loft that serves nicely as a second bedroom, remote office, or flex space, plus its own en-suite full bathroom. (Notable upgrade to the original design, most other units lacking. ) Its open-concept layout, paired with high ceilings and natural light, creates a bright, airy atmosphere that enhances the sense of space. All appliances convey, with washer/dryer combo in laundry closet; and Refrigerator in kitchen. Conveniently located between the new Del Mar College campus, Hospitals, shopping and great restaurants. Come check it out!

17. 2026-03-24
    price $110,000 738-char remark

    Show marketing remark (738 chars)

    NICE Southside opportunity here for first time homebuyer, a young professional or investor. Turnkey, move-in Ready. The well thought-out floor plan includes a spacious primary bedroom plus an upstairs loft that serves nicely as a second bedroom, remote office, or flex space, plus its own en-suite full bathroom. (Notable upgrade to the original design, most other units lacking. ) Its open-concept layout, paired with high ceilings and natural light, creates a bright, airy atmosphere that enhances the sense of space. All appliances convey, with washer/dryer combo in laundry closet; and Refrigerator in kitchen. Conveniently located between the new Del Mar College campus, Hospitals, shopping and great restaurants. Come check it out!

18. 2026-03-18
    listed $115,000 Active 738-char remark

    Show marketing remark (738 chars)

    NICE Southside opportunity here for first time homebuyer, a young professional or investor. Turnkey, move-in Ready. The well thought-out floor plan includes a spacious primary bedroom plus an upstairs loft that serves nicely as a second bedroom, remote office, or flex space, plus its own en-suite full bathroom. (Notable upgrade to the original design, most other units lacking. ) Its open-concept layout, paired with high ceilings and natural light, creates a bright, airy atmosphere that enhances the sense of space. All appliances convey, with washer/dryer combo in laundry closet; and Refrigerator in kitchen. Conveniently located between the new Del Mar College campus, Hospitals, shopping and great restaurants. Come check it out!

19. 2025-07-18
    listed $115,500 Active
20. 2025-05-18
    listed $117,000 Active
21. 2025-04-28
    price $117,500
22. 2025-04-14
    listed $118,000 Active
23. 2025-04-11
    price $118,000
24. 2025-04-04
    price $118,500
25. 2024-10-24
    listed $119,000 Active
26. 2006-06-02
    soldstatus
27. 2005-12-01
    listed $58,900

ⓘ 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: $17,346
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − HOA: −$3,672
• − Depreciation: −$2,880
• Taxable income: $493
• Est. tax owed @ 24.0%: −$118
• After-tax cash flow: $1,703/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

This move-in ready condo is in good condition with a good condition score of 75. It has dated kitchen and bathroom fixtures that could be updated to increase its value.

Repairs flagged

• Minor kitchen cabinets — The cabinets appear dated and could be updated for a fresh look.
• Minor bathroom vanity — The vanity is dated and could be replaced with a more modern option.
• Minor kitchen countertops — The countertops are dated and could be replaced with a more modern material.

Value-add opportunities

• Both Replace the kitchen cabinets and countertops — Updating the kitchen will improve both the resale and rental value.
• Both Replace the bathroom vanity — Updating the bathroom will improve both the resale and rental value.
• Both Paint the exterior siding — Painting the exterior will improve the curb appeal and add value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · The cabinets appear dated and could be updated for a fresh look.	Minor	$500–3,000
bathroom vanity · The vanity is dated and could be replaced with a more modern option.	Minor	$500–3,000
kitchen countertops · The countertops are dated and could be replaced with a more modern material.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Replace the kitchen cabinets and countertops — Updating the kitchen will improve both the resale and rental value. ↑
• Both Replace the bathroom vanity — Updating the bathroom will improve both the resale and rental value. ↑
• Both Paint the exterior siding — Painting the exterior will improve the curb appeal and add value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 54,263
• Household income: $98,771
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 1167.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 33% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 46% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 24% Other Indo-European 2% Chinese 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: ▼ -40.16%
• Current HPI: 182.3229
• Rent YoY: ▲ 1.94%
• 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

+78.3% since first listed

12 events — show timeline

• 2026-04-08 Price Changed $105,000 CBMLS
• 2026-03-24 Price Changed $110,000 CBMLS
• 2026-03-18 Listed $115,000 CBMLS
• 2025-07-18 Listed $115,500 CBMLS
• 2025-05-18 Listed $117,000 CBMLS
• 2025-04-28 Price Changed $117,500 CBMLS
• 2025-04-14 Listed $118,000 CBMLS
• 2025-04-11 Price Changed $118,000 CBMLS
• 2025-04-04 Price Changed $118,500 CBMLS
• 2024-10-24 Listed $119,000 CBMLS
• 2006-06-02 Sold (MLS) — CBMLS
• 2005-12-01 Listed $58,900 CBMLS