3006 Elgin St · Corpus Christi, TX 78405

$69,000

1 bd · 1.0 ba · 760 sqft · SingleFamily public records · 99 Days on market

Built 1955 5,602 sqft lot $91/sqft · 21% below area Est $87k · 21% under ↓ 16% since listing

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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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +8.3/10.0
• Appreciation +5.7/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor Opportunity at New Price Point Investor Special – Great Fixer Opportunity! 3006 Elgin St is a 1-bedroom, 1-bath home situated on a spacious lot with mature trees and a covered front porch. The property needs significant repairs and updates, making it ideal for investors, flippers, or buyers looking for a renovation project. Conveniently located near schools, shopping, and major roadways. Sold as-is. Cash or renovation financing recommended.

Key facts

• Covered front porch
• Near schools
• Near shopping

Tags

• SPACIOUS LOT
• MATURE TREES
• COVERED FRONT PORCH
• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 74 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($477 loan paydown + $980 appreciation (1.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.33% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.47%
• DSCR: 1.55
• GRM: 6.3

CMA / ARV

• ARV (median comp): $87,383
• List price: $69,000
• Delta: -21.04%
• 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
2622 Dunbar St	0.14mi	2/1.0 (+1)	672 (-12%)	1mo	$88,000	$131	68
2624 Sonora St	0.30mi	2/1.0 (+1)	808 (+6%)	10mo	$39,900	$49	62
2818 Blake St	0.28mi	2/1.0 (+1)	784 (+3%)	19mo	$89,900	$115	61
641 Cheyenne St	0.47mi	1/1.0	720 (-5%)	13mo	$64,900	$90	58
2750 Nogales St	0.20mi	2/1.0 (+1)	660 (-13%)	19mo	$109,900	$167	48
2742 Guadalupe	0.15mi	2/1.0 (+1)	867 (+14%)	20mo	$135,000	$156	48
3621 Cub St	0.37mi	2/1.0 (+1)	667 (-12%)	15mo	$60,000	$90	45
1205 Hibiscus St	0.68mi	2/1.0 (+1)	800 (+5%)	15mo	$25,000	$31	42
3746 Macarthur St	0.58mi	2/1.0 (+1)	684 (-10%)	20mo	$55,000	$80	35
3801 Betel St	0.71mi	2/1.0 (+1)	684 (-10%)	16mo	$76,900	$112	32
1810 Whiting Dr	0.66mi	2/1.0 (+1)	860 (+13%)	20mo	$98,900	$115	26
1821 Whittier Dr	0.67mi	2/2.0 (+1)	862 (+13%)	21mo	$169,900	$197	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.80×
• Total profit: $15,551
• Equity at exit: $25,078

10-year hold

• IRR: 18.5%
• Equity multiple: 3.33×
• Total profit: $44,934
• Equity at exit: $34,537

Cash invested: $19,320 (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 78405

• Home prices YoY: 1.3%
• Active inventory: 74
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $920 high
• Mortgage (P&I): −$362
• Tax from tax record: −$135 /mo · $1,625/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $201

Break-even live

Break-even rent $666

Max offer price $69,000

Occupancy floor 73%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3150 Elgin St Corpus Christi, TX	2.0	1.0	616	$925	$1.50	43d	1	0.22mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	21d	1	0.66mi
1114 25th St Corpus Christi, TX	1.0–2.0	1.0	712	$799	$1.12	13d	6	0.82mi
2937 Ruth St Corpus Christi, TX	2.0	1.0	676	$950	$1.41	43d	1	0.87mi
2333 Riggan St Corpus Christi, TX	2.0	1.0	856	$1,250	$1.46	43d	1	0.89mi
3115 Agnes St Corpus Christi, TX	2.0	1.0	428	$713	$1.67	43d	3	1.12mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	43d	1	1.12mi
1808 Morgan Ave Corpus Christi, TX	1.0	1.0	667	$975	$1.46	43d	1	1.18mi
1802 Morgan Ave Unit 1802 Corpus Christi, TX	2.0	1.0	850	$1,250	$1.47	21d	1	1.18mi
1802 Morgan Ave Unit 1804 Corpus Christi, TX	1.0	1.0	667	$695	$1.04	43d	1	1.18mi
801 18th St Corpus Christi, TX	1.0	1.0	600	$895	$1.49	21d	1	1.24mi
2122 Harvard St Corpus Christi, TX	2.0	1.0	858	$1,250	$1.46	13d	1	1.29mi
1433 12th St Corpus Christi, TX	2.0	1.0	768	$1,050	$1.37	43d	1	1.37mi
1634 14th St Corpus Christi, TX	2.0	1.5	980	$1,090	$1.11	43d	1	1.37mi
4702 Old Brownsville Rd Corpus Christi, TX	1.0	1.0	700	$764	$1.09	43d	1	1.37mi

Listing history 10 events

1. 2026-06-05
   days on market $69,000 Active 99 DOM
2. 2026-06-03
   days on market $69,000 Active 98 DOM
3. 2026-06-02
   days on market $69,000 Active 97 DOM
4. 2026-06-01
   days on market $69,000 Active 96 DOM
5. 2026-05-31
   days on market $69,000 Active 95 DOM
6. 2026-05-30
   days on market $69,000 Active 94 DOM
7. 2026-03-24
   price $69,000 465-char remark

   Show marketing remark (465 chars)

   Investor Opportunity at New Price Point Investor Special – Great Fixer Opportunity! 3006 Elgin St is a 1-bedroom, 1-bath home situated on a spacious lot with mature trees and a covered front porch. The property needs significant repairs and updates, making it ideal for investors, flippers, or buyers looking for a renovation project. Conveniently located near schools, shopping, and major roadways. Sold as-is. Cash or renovation financing recommended.

8. 2026-02-20
   listed $79,900 Active 465-char remark

   Show marketing remark (465 chars)

   Investor Opportunity at New Price Point Investor Special – Great Fixer Opportunity! 3006 Elgin St is a 1-bedroom, 1-bath home situated on a spacious lot with mature trees and a covered front porch. The property needs significant repairs and updates, making it ideal for investors, flippers, or buyers looking for a renovation project. Conveniently located near schools, shopping, and major roadways. Sold as-is. Cash or renovation financing recommended.

9. 2026-01-05
   price $75,000
10. 2025-11-20
    listed $82,000 Active

ⓘ 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: $1,625 · $135/mo
• Projected year-2 tax: $1,625 · $135/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $11,039
• − Mortgage interest: −$3,865
• − Property taxes: −$1,625
• − Insurance: −$345
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$2,007
• Taxable income: $1,431
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $2,065/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): 14,602
• Household income: $38,294
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 867.0

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 (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 48% Black 4% White 4%
• Hispanic origin (detail): Mexican 83%
• Foreign-born: 18% · Canada
• Languages at home: 52% English-only · Spanish 48%

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: ▲ 1.42%
• Current HPI: 113.2227
• Rent YoY: —
• 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

-15.9% since first listed

4 events — show timeline

• 2026-03-24 Price Changed $69,000 CBMLS
• 2026-02-20 Listed $79,900 CBMLS
• 2026-01-05 Price Changed $75,000 MCALLENMLS
• 2025-11-20 Listed $82,000 MCALLENMLS

Property tax history

+6.3%/yr

Latest (2025): $1,625 · +0.1% YoY. Source: county tax records.