3938 Surfside Blvd #2143 · Corpus Christi, TX 78402

$50,000

1 bd · 1.0 ba · 420 sqft · Townhouse public records · 847 Days on market

Built 1981 928 sqft lot $119/sqft · 56% below area $575/mo HOA · 49% 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).

• Cash flow +13.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks MLS

GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

Key facts

• $575 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $3 ($35/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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: 72 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 $346 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 847 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $49k (49%) 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 $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 847 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
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 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: 2.34% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 3.6

CMA / ARV

• ARV (median comp): $114,581
• List price: $50,000
• Delta: -56.36%
• 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 #2327	0.02mi	1/1.0	420 (0%)	1mo	$58,000	$138	98
3938 Surfside Blvd #3114	0.02mi	1/1.0	420 (0%)	2mo	$45,000	$107	98
3938 Surfside Blvd #3225	0.04mi	1/1.0	420 (0%)	1mo	$39,900	$95	97
3938 Surfside Blvd #2332	0.02mi	1/1.0	420 (0%)	2mo	$48,000	$114	97
3938 Surfside Blvd #3224	0.04mi	1/1.0	420 (0%)	1mo	$55,000	$131	97
3938 Surfside Blvd #3342	0.03mi	1/1.0	420 (0%)	2mo	$62,000	$148	97
3938 Surfside Blvd #1219	0.06mi	1/1.0	420 (0%)	1mo	$44,900	$107	97
3938 Surfside Blvd #1316	0.06mi	1/1.0	420 (0%)	1mo	$64,500	$154	96
3938 Surfside Blvd #1225	0.05mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #1327	0.05mi	1/1.0	420 (0%)	2mo	$50,000	$119	95
3938 Surfside Blvd #1207	0.07mi	1/1.0	420 (0%)	2mo	$50,000	$119	95
3938 Surfside Blvd #2305	0.06mi	1/1.0	418 (-0%)	3mo	$100,000	$239	94

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-7,544
• Equity at exit: $7,455

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-4,821
• Equity at exit: $4,323

Cash invested: $14,000 (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: 72
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $3

Break-even live

Break-even rent $1,165

Max offer price $50,000

Occupancy floor 95%

Sensitivity live

Price	-10% $37	-5% $20	+0% $3	+5% $-14	+10% $-32
Rent	-10% $-89	-5% $-43	+0% $3	+5% $49	+10% $95
Rate	-1.0pp $28	-0.5pp $16	base $3	+0.5pp $-10	+1.0pp $-23

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $575 · $6,900/yr
• Likely covers: poolgym

Listing history 50 events

1. 2026-06-18
   days on market $50,000 Active 847 DOM
2. 2026-06-17
   days on market $50,000 Active 846 DOM
3. 2026-06-16
   days on market $50,000 Active 845 DOM
4. 2026-06-15
   days on market $50,000 Active 844 DOM
5. 2026-06-14
   days on market $50,000 Active 842 DOM
6. 2026-06-10
   days on market $50,000 Active 839 DOM
7. 2026-06-09
   days on market $50,000 Active 838 DOM
8. 2026-06-08
   days on market $50,000 Active 837 DOM
9. 2026-06-07
   days on market $50,000 Active 836 DOM
10. 2026-06-05
    days on market $50,000 Active 833 DOM
11. 2026-06-03
    days on market $50,000 Active 832 DOM
12. 2026-06-02
    days on market $50,000 Active 831 DOM
13. 2026-06-01
    days on market $50,000 Active 830 DOM
14. 2026-05-31
    days on market $50,000 Active 829 DOM
15. 2026-05-30
    days on market $50,000 Active 828 DOM
16. 2026-04-13
    price $50,000 561-char remark

    Show marketing remark (561 chars)

    GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

17. 2025-05-07
    price $55,000 561-char remark

    Show marketing remark (561 chars)

    GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

18. 2024-09-13
    price $80,000 561-char remark

    Show marketing remark (561 chars)

    GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

19. 2024-09-09
    price $89,000 561-char remark

    Show marketing remark (561 chars)

    GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

20. 2024-02-21
    listed $99,000 Active 561-char remark

    Show marketing remark (561 chars)

    GREAT RENTAL INVESTMENT OPPORTUNITY! Short term rentals Fully furnished one bedroom, open kitchen, living, and dining area. The condo has a beautiful view of the bay from the Balcony. Come and see us at North Beach and see what's going on—located on North Beach near the Aquarium, USS Lexington, and great Restaurants. Easy access to Corpus Christi or Portland. Just a few steps from the beach . The complex offers easy access to the beach, two pool, gym, hot tub, coin-operated laundry area, BBQ designated area , cabana area, covered parking, elevator .

21. 2024-01-01
    historical
22. 2023-08-10
    price $110,000
23. 2023-02-14
    price $119,500
24. 2023-01-11
    price $109,500
25. 2022-12-13
    price $119,500
26. 2022-11-15
    price $123,900
27. 2022-09-19
    price $139,500
28. 2022-09-12
    listed $145,000 Active
29. 2020-12-23
    historical
30. 2020-12-21
    soldstatus Closed
31. 2020-12-17
    soldstatus
32. 2020-12-09
    status Pending
33. 2020-12-04
    historical Active Under Contract
34. 2020-11-08
    listed $69,500 Active
35. 2020-07-11
    historical
36. 2020-06-30
    status Active
37. 2020-06-23
    historical Active Under Contract
38. 2020-03-11
    price $65,500
39. 2020-01-10
    listed $74,000 Active
40. 2016-05-04
    historical
41. 2016-05-04
    soldstatus Closed
42. 2016-05-04
    soldstatus
43. 2016-04-05
    status Pending
44. 2016-03-04
    price $55,900
45. 2015-12-26
    listed $57,900 Active
46. 2008-09-03
    soldstatus
47. 2008-08-29
    soldstatus
48. 2008-04-08
    listed $48,000
49. 2005-07-22
    soldstatus
50. 2005-07-22
    soldstatus

ⓘ 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: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$1,455
• Taxable loss: −$372
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $125/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
• 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

+13.9% since first listed

37 events — show timeline

• 2026-04-13 Price Changed $50,000 CBMLS
• 2025-05-07 Price Changed $55,000 CBMLS
• 2024-09-13 Price Changed $80,000 CBMLS
• 2024-09-09 Price Changed $89,000 CBMLS
• 2024-02-21 Listed $99,000 CBMLS
• 2024-01-01 Delisted — CBMLS
• 2023-08-10 Price Changed $110,000 CBMLS
• 2023-02-14 Price Changed $119,500 CBMLS
• 2023-01-11 Price Changed $109,500 CBMLS
• 2022-12-13 Price Changed $119,500 CBMLS
• 2022-11-15 Price Changed $123,900 CBMLS
• 2022-09-19 Price Changed $139,500 CBMLS
• 2022-09-12 Listed $145,000 CBMLS
• 2020-12-23 Delisted — CBMLS
• 2020-12-21 Sold (MLS) — CBMLS
• 2020-12-17 Sold (Public Records) — Public Records
• 2020-12-09 Pending — CBMLS
• 2020-12-04 Contingent — CBMLS
• 2020-11-08 Listed $69,500 CBMLS
• 2020-07-11 Delisted — CBMLS
• 2020-06-30 Relisted — CBMLS
• 2020-06-23 Contingent — CBMLS
• 2020-03-11 Price Changed $65,500 CBMLS
• 2020-01-10 Listed $74,000 CBMLS
• 2016-05-04 Delisted — CBMLS
• 2016-05-04 Sold (Public Records) — Public Records
• 2016-05-04 Sold (MLS) — CBMLS
• 2016-04-05 Pending — CBMLS
• 2016-03-04 Price Changed $55,900 CBMLS
• 2015-12-26 Listed $57,900 CBMLS
• 2008-09-03 Sold (Public Records) — Public Records
• 2008-08-29 Sold (MLS) — CBMLS
• 2008-04-08 Listed $48,000 CBMLS
• 2005-07-22 Sold (Public Records) — Public Records
• 2005-07-22 Sold (MLS) — CBMLS
• 2005-06-04 Listed $43,900 CBMLS
• 1999-10-01 Sold (Public Records) — Public Records

Property tax history

+10.9%/yr

Latest (2025): $2,754 · +15.6% YoY. Source: county tax records.