208 Circle Dr · Corpus Christi, TX 78411

$220,000

4 bd · 3.0 ba · 2,446 sqft · SingleFamily public records · 133 Days on market

Built 1974 7,139 sqft lot $90/sqft · 48% below area Est $421k · 48% under ↓ 10% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• 1% rule +4.5/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR OPPORTUNITY! Located just off iconic Ocean Drive in Corpus Christi, this two-story property offers over 2,400 square feet of potential in one of the city’s most desirable coastal areas. Some rooms have been taken down to the studs which presents a true blank canvas ideal for investors, builders, or vision-driven buyers ready to reimagine the space from the ground up. The existing footprint allows for flexible design options, whether you’re planning a modern coastal renovation, a long-term rental, or a resale project in a high-demand location. Situated minutes from the bay, downtown, parks, and waterfront amenities, the location alone adds strong long-term value. If you’re looking for a project, this is your chance to bring a vision to life near one of Corpus Christi’s most sought-after areas! * Property being sold as-is *

Key facts

• High demand location
• Two story property
• 7,139 sq ft lot

Tags

• TWO STORY PROPERTY
• FLEXIBLE DESIGN OPTIONS
• HIGH DEMAND LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (4.8% below list).
• Recommended offer: $172k (21.7% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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.
• 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); King H S (math 35% / reading 36%, grade F, #941 of 1,632 statewide, top 58%, 1,400 students, 63% FRL) — zoned schools average 47% FRL vs 63% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 54% at this address vs 33% district-wide (+21 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: Rents rising fast (+7.9%/yr); 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 133 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 29y ago; this cycle's ask has dropped $80k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,327 (21.7% 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 133 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.26%
• DSCR: 0.77
• GRM: 8.8

CMA / ARV

• ARV (median comp): $420,583
• List price: $220,000
• Delta: -47.69%
• 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
425 Miramar Pl	0.38mi	4/3.0	2,531 (+4%)	2mo	$500,000	$198	74
473 Barracuda Pl	0.56mi	4/2.5	2,350 (-4%)	2mo	$549,000	$234	64
466 Coral	0.53mi	3/2.5 (-1)	2,472 (+1%)	9mo	$425,000	$172	59
402 Pasadena Pl	0.63mi	3/2.0 (-1)	2,478 (+1%)	1mo	$375,000	$151	58
617 Coral Pl	0.71mi	5/3.0 (+1)	2,423 (-1%)	4mo	$399,900	$165	57
432 Bermuda Pl	0.61mi	3/2.0 (-1)	2,413 (-1%)	6mo	$579,000	$240	55
435 Williamson Pl	0.57mi	3/2.0 (-1)	2,385 (-2%)	8mo	$565,000	$237	53
445 Williamson Pl	0.59mi	3/2.0 (-1)	2,340 (-4%)	9mo	$550,000	$235	49
426 Williamson Pl	0.57mi	3/2.0 (-1)	2,640 (+8%)	6mo	$517,500	$196	47
447 Santa Monica Pl	0.65mi	3/2.0 (-1)	2,115 (-14%)	1mo	$297,500	$141	37
402 Sharon Dr	0.54mi	3/2.0 (-1)	2,091 (-14%)	7mo	$375,000	$179	35
402 Pennington Dr	0.61mi	3/2.0 (-1)	2,079 (-15%)	8mo	$359,900	$173	31

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 · 7.91% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.32×
• Total profit: $-41,699
• Equity at exit: $32,803

10-year hold

• IRR: -1.5%
• Equity multiple: 0.87×
• Total profit: $-7,977
• Equity at exit: $19,022

Cash invested: $61,600 (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 78411

• Rents YoY: 7.9%
• Active inventory: 147
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,094 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$679 /mo · $8,147/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-270

Break-even live

Break-even rent $2,436

Max offer price $172,327

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-208	+0% $-270	+5% $-332	+10% $-394
Rent	-10% $-435	-5% $-353	+0% $-270	+5% $-187	+10% $-104
Rate	-1.0pp $-159	-0.5pp $-214	base $-270	+0.5pp $-327	+1.0pp $-385

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 Catalina Pl Corpus Christi, TX	3.0	2.0	1750	$2,100	$1.20	15d	1	0.95mi
502 Brawner Pkwy Corpus Christi, TX	3.0	2.0	2293	$2,200	$0.96	46d	1	1.17mi
3450 S Alameda St Corpus Christi, TX	3.0	1.5	2342	$1,350	$0.58	45d	1	1.45mi
449 Parade Dr Corpus Christi, TX	4.0	2.0	2085	$1,895	$0.91	15d	1	1.49mi

Listing history 28 events

1. 2026-05-07
   price $220,000 870-char remark

   Show marketing remark (870 chars)

   INVESTOR OPPORTUNITY! Located just off iconic Ocean Drive in Corpus Christi, this two-story property offers over 2,400 square feet of potential in one of the city’s most desirable coastal areas. Some rooms have been taken down to the studs which presents a true blank canvas ideal for investors, builders, or vision-driven buyers ready to reimagine the space from the ground up. The existing footprint allows for flexible design options, whether you’re planning a modern coastal renovation, a long-term rental, or a resale project in a high-demand location. Situated minutes from the bay, downtown, parks, and waterfront amenities, the location alone adds strong long-term value. If you’re looking for a project, this is your chance to bring a vision to life near one of Corpus Christi’s most sought-after areas! * Property being sold as-is *

2. 2026-02-18
   price $290,000 870-char remark

   Show marketing remark (870 chars)

   INVESTOR OPPORTUNITY! Located just off iconic Ocean Drive in Corpus Christi, this two-story property offers over 2,400 square feet of potential in one of the city’s most desirable coastal areas. Some rooms have been taken down to the studs which presents a true blank canvas ideal for investors, builders, or vision-driven buyers ready to reimagine the space from the ground up. The existing footprint allows for flexible design options, whether you’re planning a modern coastal renovation, a long-term rental, or a resale project in a high-demand location. Situated minutes from the bay, downtown, parks, and waterfront amenities, the location alone adds strong long-term value. If you’re looking for a project, this is your chance to bring a vision to life near one of Corpus Christi’s most sought-after areas! * Property being sold as-is *

3. 2026-01-08
   listed $300,000 Active 870-char remark

   Show marketing remark (870 chars)

   INVESTOR OPPORTUNITY! Located just off iconic Ocean Drive in Corpus Christi, this two-story property offers over 2,400 square feet of potential in one of the city’s most desirable coastal areas. Some rooms have been taken down to the studs which presents a true blank canvas ideal for investors, builders, or vision-driven buyers ready to reimagine the space from the ground up. The existing footprint allows for flexible design options, whether you’re planning a modern coastal renovation, a long-term rental, or a resale project in a high-demand location. Situated minutes from the bay, downtown, parks, and waterfront amenities, the location alone adds strong long-term value. If you’re looking for a project, this is your chance to bring a vision to life near one of Corpus Christi’s most sought-after areas! * Property being sold as-is *

4. 2022-08-15
   historical 317-char remark

   Show marketing remark (317 chars)

   Great opportunity to own a home seconds from Ocean Drive! This 4 bedroom 4 bathroom 2 story home is waiting for you to come in and design to your style. Basically a blank slate for you. Master bedroom/bath is located on 1st floor with patio doors leading out to the backyard. Come view today as it will not last long!

5. 2022-08-12
   soldstatus Closed 317-char remark

   Show marketing remark (317 chars)

   Great opportunity to own a home seconds from Ocean Drive! This 4 bedroom 4 bathroom 2 story home is waiting for you to come in and design to your style. Basically a blank slate for you. Master bedroom/bath is located on 1st floor with patio doors leading out to the backyard. Come view today as it will not last long!

6. 2022-08-06
   status Pending 317-char remark

   Show marketing remark (317 chars)

   Great opportunity to own a home seconds from Ocean Drive! This 4 bedroom 4 bathroom 2 story home is waiting for you to come in and design to your style. Basically a blank slate for you. Master bedroom/bath is located on 1st floor with patio doors leading out to the backyard. Come view today as it will not last long!

7. 2022-08-02
   historical Active Under Contract 317-char remark

   Show marketing remark (317 chars)

   Great opportunity to own a home seconds from Ocean Drive! This 4 bedroom 4 bathroom 2 story home is waiting for you to come in and design to your style. Basically a blank slate for you. Master bedroom/bath is located on 1st floor with patio doors leading out to the backyard. Come view today as it will not last long!

8. 2022-07-08
   listed $225,000 Active 317-char remark

   Show marketing remark (317 chars)

   Great opportunity to own a home seconds from Ocean Drive! This 4 bedroom 4 bathroom 2 story home is waiting for you to come in and design to your style. Basically a blank slate for you. Master bedroom/bath is located on 1st floor with patio doors leading out to the backyard. Come view today as it will not last long!

9. 2021-12-16
   soldstatus
10. 2018-10-11
    historical
11. 2018-10-08
    soldstatus
12. 2018-10-03
    soldstatus Closed
13. 2018-09-06
    status Pending
14. 2018-08-24
    listed $150,000 Active
15. 2010-05-12
    soldstatus
16. 2010-03-24
    listed $123,997
17. 2008-06-30
    listed $249,000
18. 2008-02-25
    listed $309,900
19. 2007-01-29
    listed $440,000
20. 2006-07-18
    listed $500,000
21. 2006-04-10
    soldstatus
22. 2006-04-07
    soldstatus
23. 2005-05-30
    listed $250,000
24. 2002-01-29
    soldstatus
25. 2002-01-29
    soldstatus $170,000
26. 2001-05-01
    listed $179,900
27. 2001-01-29
    listed $275,000
28. 1997-12-03
    listed $244,900

ⓘ 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: $8,147 · $679/mo
• Projected year-2 tax: $8,147 · $679/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥107°F today · 19 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: $25,131
• − Mortgage interest: −$12,323
• − Property taxes: −$8,147
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$6,400
• Taxable loss: −$6,861
• Est. tax savings @ 24.0%: +$1,647
• After-tax cash flow: $-1,592/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): 23,682
• Household income: $57,742
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1284.0

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: Majority Hispanic (58%)
• Race & ethnicity: Hispanic / Latino 58% White 35% Two or more races 29% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 75% English-only · Spanish 23% Tagalog/Filipino 1% Other Indo-European 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: ▼ -265.71%
• Current HPI: 191.7201
• Rent YoY: ▲ 7.91%
• 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

-10.2% since first listed

28 events — show timeline

• 2026-05-07 Price Changed $220,000 CBMLS
• 2026-02-18 Price Changed $290,000 CBMLS
• 2026-01-08 Listed $300,000 CBMLS
• 2022-08-15 Delisted — CBMLS
• 2022-08-12 Sold (MLS) — CBMLS
• 2022-08-06 Pending — CBMLS
• 2022-08-02 Contingent — CBMLS
• 2022-07-08 Listed $225,000 CBMLS
• 2021-12-16 Sold (Public Records) — Public Records
• 2018-10-11 Delisted — CBMLS
• 2018-10-08 Sold (Public Records) — Public Records
• 2018-10-03 Sold (MLS) — CBMLS
• 2018-09-06 Pending — CBMLS
• 2018-08-24 Listed $150,000 CBMLS
• 2010-05-12 Sold (MLS) — CBMLS
• 2010-03-24 Listed $123,997 CBMLS
• 2008-06-30 Listed $249,000 CBMLS
• 2008-02-25 Listed $309,900 CBMLS
• 2007-01-29 Listed $440,000 CBMLS
• 2006-07-18 Listed $500,000 CBMLS
• 2006-04-10 Sold (Public Records) — Public Records
• 2006-04-07 Sold (MLS) — CBMLS
• 2005-05-30 Listed $250,000 CBMLS
• 2002-01-29 Sold (Public Records) $170,000 Public Records
• 2002-01-29 Sold (MLS) — CBMLS
• 2001-05-01 Listed $179,900 CBMLS
• 2001-01-29 Listed $275,000 CBMLS
• 1997-12-03 Listed $244,900 CBMLS

Property tax history

+2.7%/yr

Latest (2025): $8,147 · +14.6% YoY. Source: county tax records.