15209 Leeward Dr Unit B1 · Corpus Christi, TX 78418

$197,000

1 bd · 1.0 ba · 610 sqft · Condo · 157 Days on market

Built 1985 Fair condition $323/sqft · 18% below area Est $241k · 18% under $335/mo HOA · 21% 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).

• ARV discount +15.0/15.0
• Cash flow +5.4/30.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CORNER UNIT! This 1 bedroom, 1 bathroom ground floor unit is a great investment for anyone wanting their own slice of Island living with rental flexibility. Daily rentals allowed. Steps from the community pool, and located on Lake Padre with a community deck for fishing, lounging, or enjoying the sunset. It is also a quick walk, bike, or drive to Whitecap beach. Call your favorite agent today to schedule a viewing!

Key facts

• Community deck
• Community pool
• Lake padre

Tags

• CORNER UNIT
• COMMUNITY POOL
• LAKE PADRE
• COMMUNITY DECK
• WHITECAP BEACH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $197k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (31.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (18.8% below list).
• Recommended offer: $134k (31.8% 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.
• Zoned schools: Flour Bluff El (math 40% / reading 42%, grade F, #1,462 of 4,322 statewide, top 34%, 759 students, 53% FRL); Flour Bluff J H (math 45% / reading 53%, grade C-, #378 of 1,662 statewide, top 23%, 919 students, 46% FRL); Flour Bluff H S (math 33% / reading 62%, grade D, #583 of 1,632 statewide, top 36%, 1,958 students, 40% FRL).
• Market conditions: Rents soft (-0.6%/yr); 814 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 157 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y 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: HOA is 21% of rent.

Recommended offer $134,315 (31.8% 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 157 days. Have you received any prior offers? Is the seller open to a 32% 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: 0.81% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.42%
• DSCR: 0.58
• GRM: 10.3

CMA / ARV

• ARV (median comp): $241,373
• List price: $197,000
• Delta: -18.38%
• 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
15209 Leeward Dr #6	0.00mi	1/1.0	600 (-2%)	0mo	$189,000	$315	97
15010 Leeward Dr #706	0.22mi	1/1.0	620 (+2%)	3mo	$159,000	$256	85
15010 Leeward Dr #103	0.22mi	1/1.0	620 (+2%)	10mo	$195,000	$315	79
15137 Kokomo Dr	0.09mi	2/1.0 (+1)	726 (+19%)	5mo	$299,900	$413	62
15425 Fortuna Bay Dr Dr #113	1.45mi	1/1.0	634 (+4%)	0mo	$227,500	$359	58
15133 Kokomo Dr	0.09mi	2/1.0 (+1)	726 (+19%)	11mo	$259,900	$358	56
15034 Aruba Dr #202	0.18mi	1/1.0	495 (-19%)	12mo	$175,000	$354	56
15418 Fortuna Bay Dr #201	1.41mi	1/1.0	633 (+4%)	8mo	$149,900	$237	52
15209 S Padre Island Dr #707	0.68mi	1/1.0	720 (+18%)	4mo	$227,000	$315	40
14300 S Padre Island Dr #207	1.46mi	1/1.0	740 (+21%)	1mo	$119,000	$161	39
14434 E East Cabana St #107	1.36mi	1/1.0	674 (+10%)	13mo	$223,500	$332	37
15209 S Padre Island Dr #507	0.68mi	1/1.0	720 (+18%)	13mo	$229,900	$319	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -37.5%
• Equity multiple: -0.16×
• Total profit: $-63,970
• Equity at exit: $29,373

10-year hold

• IRR: -85.8%
• Equity multiple: -0.97×
• Total profit: $-108,407
• Equity at exit: $17,033

Cash invested: $55,160 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78418

• Rents YoY: -0.6%
• Active inventory: 814
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,599 high
• Mortgage (P&I): −$1,033
• Tax est. 1.5%: −$246 /mo · $2,955/yr
• Insurance: −$82
• HOA: −$335
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-433

Break-even live

Break-even rent $2,147

Max offer price $134,315

Occupancy floor —

Sensitivity live

Price	-10% $-297	-5% $-365	+0% $-433	+5% $-501	+10% $-569
Rent	-10% $-560	-5% $-496	+0% $-433	+5% $-370	+10% $-307
Rate	-1.0pp $-334	-0.5pp $-383	base $-433	+0.5pp $-484	+1.0pp $-536

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: $49,250
• Closing costs: $5,910
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14721 Whitecap Blvd #323 Corpus Christi, TX	1.0	1.0	565	$1,800	$3.19	70d	1	0.25mi
14873 Granada Dr #13 Corpus Christi, TX	1.0	1.0	390	$950	$2.44	63d	1	0.47mi
14898 Granada Dr Unit 1268412P Corpus Christi, TX	1.0	1.0	441	$1,984	$4.50	93d	1	0.51mi
13997 Fortuna Bay Dr #203 Corpus Christi, TX	1.0	1.0	634	$1,500	$2.37	70d	1	1.28mi
13958 Fortuna Bay Dr Unit J Corpus Christi, TX	1.0	1.0	505	$1,350	$2.67	93d	1	1.41mi

HOA detail $335/mo · $4,020/yr condo

• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $197,000 Active 157 DOM
2. 2026-08-07
   days on market $197,000 Active 156 DOM
3. 2026-08-06
   days on market $197,000 Active 155 DOM
4. 2026-08-05
   days on market $197,000 Active 154 DOM
5. 2026-08-04
   days on market $197,000 Active 153 DOM
6. 2026-08-03
   days on market $197,000 Active 152 DOM
7. 2026-07-31
   days on market $197,000 Active 149 DOM
8. 2026-07-30
   days on market $197,000 Active 148 DOM
9. 2026-07-29
   days on market $197,000 Active 147 DOM
10. 2026-07-27
    days on market $197,000 Active 145 DOM
11. 2026-07-25
    days on market $197,000 Active 143 DOM
12. 2026-07-24
    days on market $197,000 Active 142 DOM
13. 2026-07-23
    days on market $197,000 Active 141 DOM
14. 2026-07-22
    days on market $197,000 Active 140 DOM
15. 2026-07-21
    days on market $197,000 Active 139 DOM
16. 2026-07-18
    days on market $197,000 Active 136 DOM
17. 2026-07-16
    days on market $197,000 Active 134 DOM
18. 2026-07-16
    days on market $197,000 Active 133 DOM
19. 2026-07-14
    days on market $197,000 Active 132 DOM
20. 2026-07-14
    days on market $197,000 Active 131 DOM
21. 2026-07-12
    pricedays on market $197,000 Active 130 DOM
22. 2026-07-11
    days on market $205,000 Active 129 DOM
23. 2026-07-10
    days on market $205,000 Active 128 DOM
24. 2026-07-09
    days on market $205,000 Active 127 DOM
25. 2026-07-08
    days on market $205,000 Active 126 DOM
26. 2026-07-07
    days on market $205,000 Active 125 DOM
27. 2026-07-06
    days on market $205,000 Active 124 DOM
28. 2026-07-05
    days on market $205,000 Active 123 DOM
29. 2026-07-04
    days on market $205,000 Active 122 DOM
30. 2026-07-03
    days on market $205,000 Active 121 DOM
31. 2026-07-02
    days on market $205,000 Active 120 DOM
32. 2026-07-01
    days on market $205,000 Active 119 DOM
33. 2026-06-30
    days on market $205,000 Active 118 DOM
34. 2026-06-29
    days on market $205,000 Active 117 DOM
35. 2026-06-28
    days on market $205,000 Active 116 DOM
36. 2026-06-28
    days on market $205,000 Active 115 DOM
37. 2026-06-27
    days on market $205,000 Active 114 DOM
38. 2026-06-25
    days on market $205,000 Active 112 DOM
39. 2026-06-23
    days on market $205,000 Active 110 DOM
40. 2026-06-22
    days on market $205,000 Active 109 DOM
41. 2026-06-18
    days on market $205,000 Active 106 DOM
42. 2026-06-17
    days on market $205,000 Active 105 DOM
43. 2026-06-16
    days on market $205,000 Active 104 DOM
44. 2026-06-15
    days on market $205,000 Active 103 DOM
45. 2026-06-14
    days on market $205,000 Active 101 DOM
46. 2026-06-13
    days on market $205,000 Active 100 DOM
47. 2026-06-10
    days on market $205,000 Active 98 DOM
48. 2026-06-09
    days on market $205,000 Active 97 DOM
49. 2026-06-08
    days on market $205,000 Active 96 DOM
50. 2026-06-07
    days on market $205,000 Active 95 DOM

ⓘ 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: $19,188
• − Mortgage interest: −$11,035
• − Property taxes: −$2,955
• − Insurance: −$985
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − HOA: −$4,020
• − Depreciation: −$5,731
• Taxable loss: −$8,608
• Est. tax savings @ 24.0%: +$2,066
• After-tax cash flow: $-3,133/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 Moderate rehab Est. rehab $15,250–$27,450 screening

This corner unit at Pirates Crossing requires moderate renovations to improve its condition and appeal to buyers and renters.

Repairs flagged

• Major Appliances — Older appliances may need replacement
• Major Bathtub — Dated fixtures may need replacement
• Moderate Exterior siding — Weathered appearance
• Moderate Carpeted floors — Worn appearance
• Moderate Paint — Faded appearance
• Minor Blinds — Not updated

Value-add opportunities

• Both New appliances — Modern appliances would attract both buyers and renters ↑
• Both Bathtub replacement — Modern fixtures would appeal to both buyers and renters ↑
• Both Exterior painting — Fresh paint would improve curb appeal ↑
• Both New flooring — Fresh carpet or tile would improve living space ↑
• Both Painting interior walls — Fresh paint would improve the overall appearance ↑
• Both New blinds — Updated blinds would improve both aesthetics and functionality ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Early Childhood Center Middle Flour Bluff J H C- TX #378/1,662 Nat'l #3,736/14,009 High Flour Bluff H S D TX #583/1,632 Nat'l #6,282/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 78/100

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 · 418,037 people
• City population: 296,836
• Metro: Corpus Christi, TX
• Population (ZIP): 29,790
• Household income: $92,445
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 29% Two or more races 19% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 83% English-only · Spanish 14% Tagalog/Filipino 2%

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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: ▼ -168.81%
• Current HPI: 193.902
• Rent YoY: ▼ -0.57%
• Metro: Corpus Christi, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+413.8% since first listed

5 events — show timeline

• 2026-03-02 Listed $205,000 CBMLS
• 2002-07-03 Sold (MLS) — CBMLS
• 2002-05-08 Listed $54,900 CBMLS
• 1999-09-22 Listed $43,500 CBMLS
• 1997-03-10 Listed $39,900 CBMLS