6317 Hwy. 361 #3308 · Corpus Christi, TX 78373

$165,000

2 bd · 2.0 ba · 1,454 sqft · Condo · 1451 Days on market

Built 1985 Good condition $113/sqft · 18% below area Est $202k · 18% under $2141/mo HOA · 85% of rent ↓ 38% 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
• 1% rule +10.0/10.0
• Schools +6.3/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy island living with the resort lifestyle! This beautiful and spacious 2 bed/2 bath condo overlooks the gorgeous lagoon style pool and Gulf. Fabulous views from the huge deck can be enjoyed all day. Open living, kitchen and dining floor plan with vinyl flooring and carpet in the bedrooms. Port Royal is a true island resort with the huge tropical pool, slides, hot tubs, swim up bar, splash pad and heated lap pool. There is a grilling area, full restaurant and boardwalk to the beach. Covered, assigned parking for two is just below the condo. Port Royal requires all new owners contribute 2 months of HOA dues to the capital reserves at closing. Current HOA dues are $2,141 per month.

Key facts

• $2,141 HOA
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate -3.1% vs local median 3.7% in Corpus Christi — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Port Aransas ISD (rural): math 57% / reading 63% proficiency, ranked #68 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Olsen El (math 47% / reading 57%, grade C-, #742 of 4,322 statewide, top 19%, 227 students, 35% FRL); Brundrett Middle (math 57% / reading 67%, grade B+, #134 of 1,662 statewide, top 8%, 115 students, 31% FRL); Port Aransas H S (math 74% / reading 74%, grade B+, #82 of 1,632 statewide, top 6%, 204 students, 19% FRL).
• Market conditions: 1107 active listings in the ZIP; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 34% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 1451 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 85% of rent.

Recommended offer $145,200 (12.0% 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 1451 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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: 1.53% ✓
• Cap rate: -3.05%
• Cash-on-cash: -33.37%
• DSCR: -0.48
• GRM: 5.4

CMA / ARV

• ARV (median comp): $202,300
• List price: $165,000
• Delta: -18.44%
• 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
6317 Hwy. 361 #3308	0.00mi	2/2.0	1,454 (0%)	1mo	$165,000	$113	99
6317 Hwy 361 #3110	0.01mi	2/2.0	1,454 (0%)	3mo	$144,000	$99	97
6317 State Highway 361 #3212	0.01mi	2/2.0	1,360 (-6%)	2mo	$119,000	$88	87
6317 State Highway 361 #6223	0.01mi	2/2.0	1,360 (-6%)	4mo	$115,000	$85	86
6109 State Highway 361 #204	0.36mi	3/2.5 (+1)	1,484 (+2%)	1mo	$395,000	$266	72
6109 State Highway 361 #104	0.36mi	3/2.5 (+1)	1,484 (+2%)	4mo	$308,000	$208	69
5973 State Highway 361 #124	0.66mi	3/2.0 (+1)	1,250 (-14%)	1mo	$147,888	$118	40
5973 State Hwy 361 #235	0.66mi	3/2.0 (+1)	1,250 (-14%)	2mo	$379,000	$303	39
250 Tailwind Dr Unit D	0.68mi	2/2.5	1,218 (-16%)	3mo	$895,000	$735	39
5973 State Highway 361 #232	0.66mi	3/2.0 (+1)	1,250 (-14%)	4mo	$295,000	$236	38
6649 Seacomber Dr #1110	0.69mi	3/2.5 (+1)	1,678 (+15%)	0mo	$879,000	$524	36
160 Tailwind Dr Unit B	0.68mi	3/3.0 (+1)	1,740 (+20%)	2mo	$1,295,000	$744	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -95.8%
• Equity multiple: -1.32×
• Total profit: $-107,219
• Equity at exit: $24,602

10-year hold

• IRR: —
• Equity multiple: -3.18×
• Total profit: $-193,241
• Equity at exit: $14,266

Cash invested: $46,200 (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 78373

• Active inventory: 1107
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,527 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$2,141
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $-1,285

Break-even live

Break-even rent $4,154

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,171	-5% $-1,228	+0% $-1,285	+5% $-1,342	+10% $-1,399
Rent	-10% $-1,485	-5% $-1,385	+0% $-1,285	+5% $-1,185	+10% $-1,085
Rate	-1.0pp $-1,202	-0.5pp $-1,243	base $-1,285	+0.5pp $-1,328	+1.0pp $-1,371

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: $41,250
• Closing costs: $4,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Short-term rentals allowed
• HOA & community: Homeowners association (monthly fee)Association amenities include beach rights, beach access, controlled access, and poolAssociation pays for common areas, cable TV, insurance, internet, grounds maintenance, structure maintenance, security, trash, and water

Exterior

• Parking: Assigned parkingCarport (concrete)2 total parking spaces
• Utilities: Public waterPublic sewerSewer availableWater available
• Home design: Single-storyStucco constructionMetal roofPillar/post/pier foundationHas a view
• Construction: Stucco exteriorMetal roofPillar/Post/Pier foundationBuilt as a single-story structure
• Exterior features: DeckOpen deck/patioHot tub / spaBeachfront / waterfront settingWaterfront view

Interior

• Kitchen: DishwasherElectric ovenElectric rangeGarbage disposalRefrigerator
• Flooring: CarpetVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: Open floor planCable TVWindow coverings / treatmentsBreakfast bar
• Laundry & utility: WasherDryer

HOA detail $2,141/mo · $25,692/yr condo

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

Listing history 24 events

1. 2026-06-28
   days on market $165,000 Active 1451 DOM
2. 2026-06-27
   days on market $165,000 Active 1450 DOM
3. 2026-06-25
   days on market $165,000 Active 1448 DOM
4. 2026-06-23
   days on market $165,000 Active 1446 DOM
5. 2026-06-21
   days on market $165,000 Active 1445 DOM
6. 2026-06-18
   days on market $165,000 Active 1442 DOM
7. 2026-06-17
   days on market $165,000 Active 1441 DOM
8. 2026-06-16
   days on market $165,000 Active 1440 DOM
9. 2026-06-15
   days on market $165,000 Active 1439 DOM
10. 2026-06-14
    days on market $165,000 Active 1437 DOM
11. 2026-06-13
    days on market $165,000 Active 1436 DOM
12. 2026-06-10
    days on market $165,000 Active 1434 DOM
13. 2026-06-09
    days on market $165,000 Active 1433 DOM
14. 2026-06-08
    days on market $165,000 Active 1432 DOM
15. 2026-06-07
    days on market $165,000 Active 1431 DOM
16. 2026-06-03
    days on market $165,000 Active 1427 DOM
17. 2026-06-02
    days on market $165,000 Active 1426 DOM
18. 2026-06-01
    days on market $165,000 Active 1425 DOM
19. 2026-05-31
    days on market $165,000 Active 1424 DOM
20. 2026-05-30
    days on market $165,000 Active 1423 DOM
21. 2024-03-28
    price $165,000
22. 2023-06-29
    price $180,000
23. 2023-02-03
    price $225,000
24. 2022-07-07
    listed $267,500 Active

ⓘ 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: $30,325
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,426
• − Management: −$2,426
• − HOA: −$25,692
• − Depreciation: −$4,800
• Taxable loss: −$17,562
• Est. tax savings @ 24.0%: +$4,215
• After-tax cash flow: $-11,204/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

Good 80/100 Cosmetic rehab Est. rehab $7,270–$21,810 screening

This well-maintained and clean 2-bedroom, 2-bathroom condo is ready for immediate occupancy and offers a great value with its resort-style amenities and prime location.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value ↑
• Both Clean pool area — Improves aesthetics and attracts potential buyers ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Olsen El C- TX #742/4,322 Nat'l #11,263/41,679 Middle Brundrett Middle B+ TX #134/1,662 Nat'l #1,545/14,009 High Port Aransas H S B+ TX #82/1,632 Nat'l #1,629/17,239

Schools (NCES district)

• District: Port Aransas ISD
• NCES district ID: 4835370
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $47,528
• Composite: 50.82/100
• National rank: #1803
• State rank: #68 of 826 in TX

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 · 418,037 people
• City population: 296,836
• Metro: Corpus Christi, TX
• Population (ZIP): 3,314
• Household income: $90,000
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 20% 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: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Serbian 2% Slovak 2% Iranian 2%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Other Indo-European 4% Spanish 3%

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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: ▼ -205.54%
• Current HPI: 268.699
• Rent YoY: —
• Metro: —
• 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

Property features AI

Finance

• Other: Short-term rentals allowed
• HOA & community: Homeowners association (monthly fee)Association amenities include beach rights, beach access, controlled access, and poolAssociation pays for common areas, cable TV, insurance, internet, grounds maintenance, structure maintenance, security, trash, and water

Exterior

• Parking: Assigned parkingCarport (concrete)2 total parking spaces
• Utilities: Public waterPublic sewerSewer availableWater available
• Home design: Single-storyStucco constructionMetal roofPillar/post/pier foundationHas a view
• Construction: Stucco exteriorMetal roofPillar/Post/Pier foundationBuilt as a single-story structure
• Exterior features: DeckOpen deck/patioHot tub / spaBeachfront / waterfront settingWaterfront view

Interior

• Kitchen: DishwasherElectric ovenElectric rangeGarbage disposalRefrigerator
• Flooring: CarpetVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: Open floor planCable TVWindow coverings / treatmentsBreakfast bar
• Laundry & utility: WasherDryer

Price history

-38.3% since first listed

4 events — show timeline

• 2024-03-28 Price Changed $165,000 CBMLS
• 2023-06-29 Price Changed $180,000 CBMLS
• 2023-02-03 Price Changed $225,000 CBMLS
• 2022-07-07 Listed $267,500 CBMLS