3029 Elgin St · Corpus Christi, TX 78405

$119,900

2 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 181 Days on market

Built 1996 5,602 sqft lot $112/sqft · 19% below area Est $149k · 19% under ↓ 8% since listing

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Why this score? — see what drove the C- 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 +13.0/30.0
• Appreciation +5.7/10.0
• 1% rule +4.9/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

Key facts

• 5,602 sq ft lot
• Parking
• Built 1996

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-6 ($-74/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (1.0% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: 77 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 37% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($829 loan paydown + $2k appreciation (1.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (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 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.99% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 8.4

CMA / ARV

• ARV (median comp): $148,532
• List price: $119,900
• Delta: -19.28%
• 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
3033 Elgin St	0.01mi	3/1.0 (+1)	1,058 (-1%)	5mo	$149,900	$142	89
2921 Sabinas St	0.15mi	2/1.0	1,044 (-2%)	2mo	$69,999	$67	88
2838 Greenwood Dr	0.25mi	2/2.0	1,058 (-1%)	3mo	$158,000	$149	80
3037 Macarthur St	0.29mi	2/1.0	960 (-10%)	1mo	$50,000	$52	69
2530 Dunbar St	0.25mi	3/2.0 (+1)	992 (-7%)	2mo	$79,900	$81	66
2745 Ada St	0.39mi	3/1.0 (+1)	1,097 (+3%)	16mo	$149,000	$136	58
3073 Reyna St	0.49mi	3/2.0 (+1)	1,036 (-3%)	8mo	$110,000	$106	57
3650 Braniff St	0.53mi	3/1.0 (+1)	986 (-8%)	2mo	$69,900	$71	56
3621 Curtiss St	0.36mi	3/2.0 (+1)	1,112 (+4%)	14mo	$205,000	$184	55
2225 Presa St	0.48mi	2/1.0	924 (-13%)	8mo	$53,500	$58	49
2519 Nimitz St	0.29mi	3/1.0 (+1)	1,204 (+13%)	14mo	$109,999	$91	48
1730 Trenton Dr	0.75mi	3/1.0 (+1)	1,064 (-0%)	15mo	$85,000	$80	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.13×
• Total profit: $4,428
• Equity at exit: $43,578

10-year hold

• IRR: 6.8%
• Equity multiple: 1.87×
• Total profit: $29,348
• Equity at exit: $60,015

Cash invested: $33,572 (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 78405

• Home prices YoY: 1.3%
• Active inventory: 77
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$629
• Tax from tax record: −$265 /mo · $3,185/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-6

Break-even live

Break-even rent $1,195

Max offer price $118,818

Occupancy floor 96%

Sensitivity live

Price	-10% $62	-5% $28	+0% $-6	+5% $-40	+10% $-74
Rent	-10% $-100	-5% $-53	+0% $-6	+5% $41	+10% $88
Rate	-1.0pp $54	-0.5pp $24	base $-6	+0.5pp $-37	+1.0pp $-69

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2522 Cleo St Corpus Christi, TX	3.0	1.0	992	$1,350	$1.36	15d	1	0.67mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	22d	1	0.75mi
1114 25th St Corpus Christi, TX	1.0–2.0	1.0	712	$1,050	$1.47	15d	6	0.91mi
1837 Horne Rd Corpus Christi, TX	3.0	2.0	1226	$1,800	$1.47	45d	1	0.91mi
2333 Riggan St Corpus Christi, TX	2.0	1.0	856	$1,250	$1.46	45d	1	0.97mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	15d	1	1.07mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	45d	1	1.19mi
2106 Harvard St Corpus Christi, TX	3.0	1.0	912	$1,225	$1.34	45d	1	1.21mi
2041 Harvard St Corpus Christi, TX	3.0	2.0	1230	$1,400	$1.14	15d	1	1.21mi
2122 Harvard St Corpus Christi, TX	2.0	1.0	858	$1,250	$1.46	15d	1	1.23mi
200 Clemmer St Unit A Corpus Christi, TX	3.0	1.0	950	$1,199	$1.26	45d	1	1.23mi
1802 Morgan Ave Unit 1802 Corpus Christi, TX	2.0	1.0	850	$1,250	$1.47	22d	1	1.27mi
225 Watson St Corpus Christi, TX	3.0	1.0	1472	$1,295	$0.88	45d	1	1.30mi
4702 Old Brownsville Rd Corpus Christi, TX	1.0	1.0	700	$764	$1.09	45d	1	1.30mi
238 Watson St Unit B Corpus Christi, TX	1.0	1.0	1411	$800	$0.57	45d	1	1.33mi
1201 York Ave Corpus Christi, TX	3.0	1.0	888	$1,550	$1.75	22d	1	1.37mi
4326 Vestal St Corpus Christi, TX	3.0	1.0	984	$1,125	$1.14	15d	1	1.37mi
1634 14th St Corpus Christi, TX	2.0	1.5	980	$1,090	$1.11	45d	1	1.44mi
1433 12th St Corpus Christi, TX	2.0	1.0	768	$1,050	$1.37	45d	1	1.45mi
1458 W Point Rd Corpus Christi, TX	2.0–3.0	1.0	777	$800	$1.03	15d	2	1.48mi
616 16th St Unit A Corpus Christi, TX	3.0	1.0	1040	$1,050	$1.01	45d	1	1.50mi

Listing history 22 events

1. 2026-06-21
   days on market $119,900 Active 181 DOM
2. 2026-06-18
   days on market $119,900 Active 178 DOM
3. 2026-06-17
   days on market $119,900 Active 177 DOM
4. 2026-06-16
   days on market $119,900 Active 176 DOM
5. 2026-06-15
   days on market $119,900 Active 175 DOM
6. 2026-06-14
   days on market $119,900 Active 173 DOM
7. 2026-06-10
   days on market $119,900 Active 170 DOM
8. 2026-06-09
   days on market $119,900 Active 169 DOM
9. 2026-06-08
   days on market $119,900 Active 168 DOM
10. 2026-06-07
    days on market $119,900 Active 167 DOM
11. 2026-06-05
    days on market $119,900 Active 164 DOM
12. 2026-06-03
    days on market $119,900 Active 163 DOM
13. 2026-06-02
    days on market $119,900 Active 162 DOM
14. 2026-06-01
    days on market $119,900 Active 161 DOM
15. 2026-05-31
    days on market $119,900 Active 160 DOM
16. 2026-05-30
    days on market $119,900 Active 159 DOM
17. 2026-05-20
    price $119,900 393-char remark

    Show marketing remark (393 chars)

    Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

18. 2026-04-17
    price $124,900 393-char remark

    Show marketing remark (393 chars)

    Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

19. 2026-02-02
    price $129,900 393-char remark

    Show marketing remark (393 chars)

    Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

20. 2026-01-29
    price $109,900 393-char remark

    Show marketing remark (393 chars)

    Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

21. 2025-12-22
    listed $129,900 Active 393-char remark

    Show marketing remark (393 chars)

    Looking for your next investment opportunity? 3029 Elgin is a 2-bedroom, 1-bath home offering 1,066 square feet of living space and strong potential. With a functional layout and manageable size, this property is well-suited for a long-term hold or value-driven investment. Whether you’re expanding your portfolio or seeking an opportunity to build equity, this home offers solid upside.

22. 2025-03-12
    soldstatus

ⓘ 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: $3,185 · $265/mo
• Projected year-2 tax: $3,185 · $265/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $14,249
• − Mortgage interest: −$6,716
• − Property taxes: −$3,185
• − Insurance: −$600
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,488
• Taxable loss: −$2,020
• Est. tax savings @ 24.0%: +$485
• After-tax cash flow: $411/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): 14,602
• Household income: $38,294
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 867.0

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 48% Black 4% White 4%
• Hispanic origin (detail): Mexican 83%
• Foreign-born: 18% · Canada
• Languages at home: 52% English-only · Spanish 48%

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: ▲ 1.42%
• Current HPI: 113.2227
• Rent YoY: —
• 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

-7.7% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $119,900 CBMLS
• 2026-04-17 Price Changed $124,900 CBMLS
• 2026-02-02 Price Changed $129,900 CBMLS
• 2026-01-29 Price Changed $109,900 CBMLS
• 2025-12-22 Listed $129,900 CBMLS
• 2025-03-12 Sold (Public Records) — Public Records

Property tax history

+9.1%/yr

Latest (2025): $3,185 · +61.4% YoY. Source: county tax records.