321 Cortez St · Corpus Christi, TX 78405

$72,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 15 Days on market

Built 1955 3,999 sqft lot $57/sqft · 44% below area Est $129k · 44% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This may be the fixer upper you have been waiting for. This home has much to offer. Some updates were started but need your special touch to complete them. Huge main bedroom. Bathroom offers a tiled shower. Main bedroom, kitchen, bathroom, living and dining areas has beautiful 18 inch ceramic tile. The remaining back bedrooms have vinyl flooring. Bring your ideas for the kitchen. There are no cabinets or counter tops. Home needs TLC but it could be a great rental or your forever home. Huge covered patio great for summer BBQ’s. There is a central AC system but the owner does not know the condition. Owner will do no repairs.

Key facts

• 3,999 sq ft lot
• Parking
• Built 1955

Property features AI

Exterior

• Parking: Carport; Front entry parking
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Single-story; Wood siding construction; Metal roof; Pillar/post/pier foundation
• Construction: Built with wood siding; Metal roof; Pillar/post/pier foundation; 1 story
• Exterior features: Covered patio; Deck; Patio; Metal fencing; Interior lot

Interior

• Flooring: Ceramic tile; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Paneling/Wainscoting

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% 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: 74 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 38% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($498 loan paydown + $1k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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: 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,920 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.69% ✓
• Cap rate: 14.08%
• Cash-on-cash: 27.81%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (median comp): $129,197
• List price: $72,000
• Delta: -49.69%
• 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
329 Cheyenne St	0.36mi	2/2.0 (-1)	1,224 (-3%)	3mo	$59,999	$49	67
318 Cheyenne St	0.39mi	3/2.0	1,368 (+9%)	2mo	$215,000	$157	62
3709 S Saxet Dr	0.53mi	3/2.0	1,246 (-1%)	9mo	$134,900	$108	62
3585 S Naylor	0.40mi	3/2.0	1,180 (-6%)	8mo	$90,000	$76	60
314 Old Robstown	0.46mi	3/2.0	1,121 (-11%)	8mo	$162,500	$145	50
341 W Saxet Dr	0.71mi	2/1.0 (-1)	1,156 (-8%)	5mo	$142,500	$123	44
618 Cheyenne St	0.57mi	3/2.5	1,347 (+7%)	14mo	$179,000	$133	44
350 Bartlett Dr	0.60mi	2/1.0 (-1)	1,183 (-6%)	17mo	$109,000	$92	43
670 Mohawk St	0.69mi	2/1.0 (-1)	1,351 (+7%)	13mo	$135,000	$100	40
357 W Saxet Dr	0.74mi	3/1.0	1,128 (-10%)	11mo	$188,900	$167	39
654 Mohawk St	0.66mi	4/2.0 (+1)	1,400 (+11%)	18mo	$169,900	$121	26
822 Dolores St	0.70mi	2/2.0 (-1)	1,071 (-15%)	14mo	$150,000	$140	22

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: 30.9%
• Equity multiple: 2.62×
• Total profit: $32,613
• Equity at exit: $26,169

10-year hold

• IRR: 32.9%
• Equity multiple: 5.08×
• Total profit: $82,168
• Equity at exit: $36,039

Cash invested: $20,160 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$378
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $467

Break-even live

Break-even rent $622

Max offer price $72,000

Occupancy floor 56%

Sensitivity live

Price	-10% $508	-5% $488	+0% $467	+5% $447	+10% $426
Rent	-10% $371	-5% $419	+0% $467	+5% $515	+10% $563
Rate	-1.0pp $503	-0.5pp $486	base $467	+0.5pp $449	+1.0pp $430

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	14d	6	1.15mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	21d	1	1.20mi
2522 Cleo St Corpus Christi, TX	3.0	1.0	992	$1,350	$1.36	14d	1	1.25mi
4505 Up River Rd Corpus Christi, TX	2.0	1.0	966	$1,450	$1.50	14d	1	1.38mi
2245 Comanche St Unit A Corpus Christi, TX	3.0	1.0	1016	$1,350	$1.33	21d	1	1.46mi

Listing history 22 events

1. 2026-06-18
   days on market $72,000 Active 15 DOM
2. 2026-06-17
   days on market $72,000 Active 14 DOM
3. 2026-06-16
   days on market $72,000 Active 13 DOM
4. 2026-06-15
   days on market $72,000 Active 12 DOM
5. 2026-06-14
   days on market $72,000 Active 10 DOM
6. 2026-06-10
   days on market $72,000 Active 7 DOM
7. 2026-06-09
   days on market $72,000 Active 6 DOM
8. 2026-06-08
   days on market $72,000 Active 5 DOM
9. 2026-06-07
   days on market $72,000 Active 4 DOM
10. 2026-06-05
    pricedays on marketlisting id $72,000 Active 1 DOM
11. 2026-04-30
    listed $65,000 Active 636-char remark
12. 2025-11-29
    listed $65,000 Active
13. 2025-05-28
    listed $65,000 Active
14. 2022-09-30
    historical
15. 2022-09-30
    soldstatus Closed
16. 2022-08-19
    status Pending
17. 2022-08-12
    status Active
18. 2022-08-05
    status Pending
19. 2022-07-28
    price $39,900
20. 2022-07-25
    price $48,500
21. 2022-07-15
    listed $53,500 Active
22. 1999-12-03
    soldstatus

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $1,318 · $110/mo
• Expected delta: +$314/yr (+$26/mo · 31.2%)

ⓘ 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: $14,559
• − Mortgage interest: −$4,033
• − Property taxes: −$1,004
• − Insurance: −$360
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,095
• Taxable income: $4,738
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $4,470/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

+34.6% since first listed

13 events — show timeline

• 2026-06-03 Listed $72,000 CBMLS
• 2026-04-30 Listed $65,000 CBMLS
• 2025-11-29 Listed $65,000 CBMLS
• 2025-05-28 Listed $65,000 CBMLS
• 2022-09-30 Delisted — CBMLS
• 2022-09-30 Sold (MLS) — CBMLS
• 2022-08-19 Pending — CBMLS
• 2022-08-12 Relisted — CBMLS
• 2022-08-05 Pending — CBMLS
• 2022-07-28 Price Changed $39,900 CBMLS
• 2022-07-25 Price Changed $48,500 CBMLS
• 2022-07-15 Listed $53,500 CBMLS
• 1999-12-03 Sold (Public Records) — Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,004 · +22.1% YoY. Source: county tax records.