3938 Surfside Blvd #3129 · Corpus Christi, TX 78402

$76,000

1 bd · 1.0 ba · 420 sqft · Condo · 363 Days on market

Built 1981 Fair condition $575/mo HOA · 49% of rent

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.1/30.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Don't miss this charming condo with stunning views! Thoughtfully decorated and move-in ready, this unit offers both comfort and functionality. The spacious bedroom includes a flat-screen TV, while built-in The bathroom features a shower/tub combo and a heated toilet seat for added comfort. You'll also find a handy storage area with shelving. The kitchen includes a stove/oven & upper cabinets. The kitchen, dining and living area is open and it creates a bright welcoming space. Step outside to relax under the covered patio and take in the scenery. Very nice laminated floors. This complex offers fantastic amenities including 2 pools, jogging trail, walking distance to Lexington, Aquarium, BBQ area & so much more. Coin operated laundry facility-washer/dryer located in the breeze way. Just minutes from Portland. This condo comes fully furnished and is ideal as a private residence, personal get away or turn-key investment property-which can be short term or long term.

Key facts

• Handy storage area
• Covered patio
• 2 pools

Tags

• FLAT-SCREEN TV
• HEATED TOILET SEAT
• HANDY STORAGE AREA
• COVERED PATIO
• 2 POOLS
• JOGGING TRAIL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $76k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $50k (33.7% below list).
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $50k (33.7% below list) — sets the bar for cash-flow.

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: 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 $525 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 363 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $50,425 (33.7% 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 363 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.54% ✓
• Cap rate: 3.50%
• Cash-on-cash: -9.97%
• DSCR: 0.56
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -33.3%
• Equity multiple: -0.09×
• Total profit: $-23,201
• Equity at exit: $11,332

10-year hold

• IRR: -36.4%
• Equity multiple: -0.56×
• Total profit: $-33,191
• Equity at exit: $6,571

Cash invested: $21,280 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$399
• Tax est. 1.5%: −$95 /mo · $1,140/yr
• Insurance: −$32
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-177

Break-even live

Break-even rent $1,393

Max offer price $50,425

Occupancy floor —

Sensitivity live

Price	-10% $-124	-5% $-150	+0% $-177	+5% $-203	+10% $-229
Rent	-10% $-269	-5% $-223	+0% $-177	+5% $-131	+10% $-84
Rate	-1.0pp $-138	-0.5pp $-157	base $-177	+0.5pp $-196	+1.0pp $-216

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-05
   days on market $76,000 Active 363 DOM
2. 2026-06-03
   days on market $76,000 Active 362 DOM
3. 2026-06-02
   days on market $76,000 Active 361 DOM
4. 2026-06-01
   days on market $76,000 Active 360 DOM
5. 2026-05-31
   days on market $76,000 Active 359 DOM
6. 2026-05-30
   days on market $76,000 Active 358 DOM
7. 2026-02-03
   price $76,000 989-char remark

   Show marketing remark (989 chars)

   Don't miss this charming condo with stunning views! Thoughtfully decorated and move-in ready, this unit offers both comfort and functionality. The spacious bedroom includes a flat-screen TV, while built-in The bathroom features a shower/tub combo and a heated toilet seat for added comfort. You'll also find a handy storage area with shelving. The kitchen includes a stove/oven & upper cabinets. The kitchen, dining and living area is open and it creates a bright welcoming space. Step outside to relax under the covered patio and take in the scenery. Very nice laminated floors. This complex offers fantastic amenities including 2 pools, jogging trail, walking distance to Lexington, Aquarium, BBQ area & so much more. Coin operated laundry facility-washer/dryer located in the breeze way. Just minutes from Portland. This condo comes fully furnished and is ideal as a private residence, personal get away or turn-key investment property-which can be short term or long term.

8. 2025-07-31
   price $80,000 989-char remark

   Show marketing remark (989 chars)

   Don't miss this charming condo with stunning views! Thoughtfully decorated and move-in ready, this unit offers both comfort and functionality. The spacious bedroom includes a flat-screen TV, while built-in The bathroom features a shower/tub combo and a heated toilet seat for added comfort. You'll also find a handy storage area with shelving. The kitchen includes a stove/oven & upper cabinets. The kitchen, dining and living area is open and it creates a bright welcoming space. Step outside to relax under the covered patio and take in the scenery. Very nice laminated floors. This complex offers fantastic amenities including 2 pools, jogging trail, walking distance to Lexington, Aquarium, BBQ area & so much more. Coin operated laundry facility-washer/dryer located in the breeze way. Just minutes from Portland. This condo comes fully furnished and is ideal as a private residence, personal get away or turn-key investment property-which can be short term or long term.

9. 2025-06-06
   listed $84,900 Active 989-char remark

   Show marketing remark (989 chars)

   Don't miss this charming condo with stunning views! Thoughtfully decorated and move-in ready, this unit offers both comfort and functionality. The spacious bedroom includes a flat-screen TV, while built-in The bathroom features a shower/tub combo and a heated toilet seat for added comfort. You'll also find a handy storage area with shelving. The kitchen includes a stove/oven & upper cabinets. The kitchen, dining and living area is open and it creates a bright welcoming space. Step outside to relax under the covered patio and take in the scenery. Very nice laminated floors. This complex offers fantastic amenities including 2 pools, jogging trail, walking distance to Lexington, Aquarium, BBQ area & so much more. Coin operated laundry facility-washer/dryer located in the breeze way. Just minutes from Portland. This condo comes fully furnished and is ideal as a private residence, personal get away or turn-key investment property-which can be short term or long term.

10. 2021-10-26
    historical 227-char remark

    Show marketing remark (227 chars)

    completely redone condo with new stove, fridge, bathtub. new waterheater. a/c is 5 years old. no furniiture. pretty view of c. c bay and beach. complex has 2 pools, bbq area, exercise room. close to lots of tourist attractions.

11. 2021-10-08
    soldstatus Closed 227-char remark

    Show marketing remark (227 chars)

    completely redone condo with new stove, fridge, bathtub. new waterheater. a/c is 5 years old. no furniiture. pretty view of c. c bay and beach. complex has 2 pools, bbq area, exercise room. close to lots of tourist attractions.

12. 2021-09-14
    status Pending 227-char remark

    Show marketing remark (227 chars)

    completely redone condo with new stove, fridge, bathtub. new waterheater. a/c is 5 years old. no furniiture. pretty view of c. c bay and beach. complex has 2 pools, bbq area, exercise room. close to lots of tourist attractions.

13. 2021-09-03
    historical Active Under Contract 227-char remark

    Show marketing remark (227 chars)

    completely redone condo with new stove, fridge, bathtub. new waterheater. a/c is 5 years old. no furniiture. pretty view of c. c bay and beach. complex has 2 pools, bbq area, exercise room. close to lots of tourist attractions.

14. 2021-08-28
    listed $89,900 Active 227-char remark

    Show marketing remark (227 chars)

    completely redone condo with new stove, fridge, bathtub. new waterheater. a/c is 5 years old. no furniiture. pretty view of c. c bay and beach. complex has 2 pools, bbq area, exercise room. close to lots of tourist attractions.

15. 2004-05-06
    soldstatus
16. 2003-01-13
    listed $29,900

ⓘ 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: $14,028
• − Mortgage interest: −$4,257
• − Property taxes: −$1,140
• − Insurance: −$380
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$2,211
• Taxable loss: −$3,105
• Est. tax savings @ 24.0%: +$745
• After-tax cash flow: $-1,376/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

Fair 45/100 Cosmetic rehab

This charming condo is move-in ready with a good location and ocean views, but it could benefit from some cosmetic updates to its interior and minor repairs to the bathroom sink and kitchen cabinets.

Repairs flagged

• Minor bathroom sink — slight discoloration
• Minor kitchen cabinets — slight wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace bathroom sink — improves functionality and appearance
• Both replace kitchen cabinets — enhances functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
bathroom sink · slight discoloration	Minor	$500–3,000
kitchen cabinets · slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace bathroom sink — improves functionality and appearance ↑
• Both replace kitchen cabinets — enhances functionality and appearance ↑

ⓘ 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
• 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

+154.2% since first listed

10 events — show timeline

• 2026-02-03 Price Changed $76,000 CBMLS
• 2025-07-31 Price Changed $80,000 CBMLS
• 2025-06-06 Listed $84,900 CBMLS
• 2021-10-26 Delisted — CBMLS
• 2021-10-08 Sold (MLS) — CBMLS
• 2021-09-14 Pending — CBMLS
• 2021-09-03 Contingent — CBMLS
• 2021-08-28 Listed $89,900 CBMLS
• 2004-05-06 Sold (MLS) — CBMLS
• 2003-01-13 Listed $29,900 CBMLS