420 Anchor St · Corpus Christi, TX 78418

$159,000

2 bd · 1.0 ba · 1,024 sqft · SingleFamily public records · 93 Days on market

Built 1961 0.30 ac lot $155/sqft · 12% below area Est $181k · 12% under

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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 +13.0/15.0
• Cash flow +10.6/30.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice bungalow on a large, fenced lot with a one car garage that also opens to the back yard and there is a shed that adds even more storage. Some light industrial businesses along with residential homes make this a versatile property. Recent updates include vinyl plank flooring, remodeled bathroom, ceiling fixtures and windows. A bonus room off the kitchen adds flexibility to the floor plan. Good sized kitchen with ample counter space and lots of cabinets.

Key facts

• One car garage
• Ample counter space
• Shed

Tags

• FENCED LOT
• ONE CAR GARAGE
• SHED
• REMODELED BATHROOM
• BONUS ROOM
• AMPLE COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-78 ($-938/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (13.9% below list).
• Recommended offer: $137k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Flour Bluff ISD (urban): math 43% / reading 51% proficiency, ranked #209 of 826 in TX (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 703 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• This rent is only 18% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 93 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,913 (13.9% 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 93 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.11%
• DSCR: 0.91
• GRM: 9.7

CMA / ARV

• ARV (median comp): $181,151
• List price: $159,000
• Delta: -12.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
637 Jester St	0.09mi	3/1.0 (+1)	981 (-4%)	4mo	$159,500	$163	81
436 Judie Ct	0.50mi	3/1.0 (+1)	1,061 (+4%)	8mo	$157,500	$148	59
405 Valerie St	0.33mi	3/2.0 (+1)	1,056 (+3%)	17mo	$185,000	$175	56

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: -23.4%
• Equity multiple: 0.22×
• Total profit: $-34,700
• Equity at exit: $23,707

10-year hold

• IRR: -29.9%
• Equity multiple: -0.17×
• Total profit: $-51,900
• Equity at exit: $13,747

Cash invested: $44,520 (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 78418

• Rents YoY: -0.6%
• Active inventory: 703
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$834
• Tax from tax record: −$260 /mo · $3,117/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-78

Break-even live

Break-even rent $1,468

Max offer price $145,185

Occupancy floor —

Sensitivity live

Price	-10% $12	-5% $-33	+0% $-78	+5% $-123	+10% $-168
Rent	-10% $-186	-5% $-132	+0% $-78	+5% $-24	+10% $30
Rate	-1.0pp $2	-0.5pp $-38	base $-78	+0.5pp $-119	+1.0pp $-161

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 Carleta St Unit 3 Corpus Christi, TX	1.0	1.0	785	$1,195	$1.52	23d	1	0.19mi
710 Webb St Corpus Christi, TX	2.0	1.0	920	$1,700	$1.85	15d	1	0.19mi
701 W Lakeside Dr Corpus Christi, TX	2.0	1.0	840	$1,000	$1.19	45d	1	0.33mi
1401 Dewitt St Corpus Christi, TX	3.0	2.0	1168	$1,495	$1.28	45d	1	0.58mi
10333 Compton Rd Corpus Christi, TX	2.0	1.0	1080	$975	$0.90	15d	1	0.80mi
10329 Compton Rd Unit 508 Corpus Christi, TX	2.0	1.0	1080	$975	$0.90	15d	1	0.81mi
10305 Compton Rd Unit 705 Corpus Christi, TX	2.0	1.0	1080	$1,125	$1.04	45d	1	0.81mi
1302 Waldron Rd Unit 102 Corpus Christi, TX	2.0	1.0	1080	$1,250	$1.16	45d	1	0.81mi
1306 Waldron Rd Apt 202 Corpus Christi, TX	2.0	1.0	1080	$1,075	$1.00	45d	1	0.82mi
1314 Waldron Rd Unit 105 Corpus Christi, TX	2.0	1.0	1080	$1,075	$1.00	15d	1	0.84mi
1314 Waldron Rd Unit 108 Corpus Christi, TX	2.0	1.0	1080	$975	$0.90	45d	1	0.84mi
1010 Behmann St Corpus Christi, TX	1.0–2.0	1.0	668	$980	$1.47	15d	3	0.84mi
9350 S Padre Island Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	781	$1,005	$1.29	15d	16	1.40mi

Listing history 26 events

1. 2026-06-22
   days on market $159,000 Active 93 DOM
2. 2026-06-18
   days on market $159,000 Active 90 DOM
3. 2026-06-17
   days on market $159,000 Active 89 DOM
4. 2026-06-16
   days on market $159,000 Active 88 DOM
5. 2026-06-15
   days on market $159,000 Active 87 DOM
6. 2026-06-14
   days on market $159,000 Active 85 DOM
7. 2026-06-13
   days on market $159,000 Active 84 DOM
8. 2026-06-10
   days on market $159,000 Active 82 DOM
9. 2026-06-09
   days on market $159,000 Active 81 DOM
10. 2026-06-08
    days on market $159,000 Active 80 DOM
11. 2026-06-07
    days on market $159,000 Active 79 DOM
12. 2026-06-03
    days on market $159,000 Active 75 DOM
13. 2026-06-02
    days on market $159,000 Active 74 DOM
14. 2026-06-01
    days on market $159,000 Active 73 DOM
15. 2026-05-31
    days on market $159,000 Active 72 DOM
16. 2026-05-30
    days on market $159,000 Active 71 DOM
17. 2026-03-18
    listed $164,500 Active 460-char remark

    Show marketing remark (460 chars)

    Nice bungalow on a large, fenced lot with a one car garage that also opens to the back yard and there is a shed that adds even more storage. Some light industrial businesses along with residential homes make this a versatile property. Recent updates include vinyl plank flooring, remodeled bathroom, ceiling fixtures and windows. A bonus room off the kitchen adds flexibility to the floor plan. Good sized kitchen with ample counter space and lots of cabinets.

18. 2022-10-20
    historical
19. 2022-08-11
    price $155,000
20. 2022-07-15
    listed $159,000 Active
21. 2021-08-26
    historical
22. 2021-08-25
    soldstatus Closed
23. 2021-08-25
    soldstatus
24. 2021-07-21
    status Pending
25. 2021-07-14
    historical Active Under Contract
26. 2021-07-13
    listed $92,000 Active

ⓘ 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: $3,117 · $260/mo
• Projected year-2 tax: $3,117 · $260/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 29 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: $16,430
• − Mortgage interest: −$8,906
• − Property taxes: −$3,117
• − Insurance: −$795
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$4,625
• Taxable loss: −$3,643
• Est. tax savings @ 24.0%: +$874
• After-tax cash flow: $-64/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: Flour Bluff ISD
• NCES district ID: 4819380
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,162
• Composite: 40.96/100
• National rank: #3604
• State rank: #209 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): 29,790
• Household income: $92,445
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 808.0

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 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%

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

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

+78.8% since first listed

10 events — show timeline

• 2026-03-18 Listed $164,500 CBMLS
• 2022-10-20 Delisted — CBMLS
• 2022-08-11 Price Changed $155,000 CBMLS
• 2022-07-15 Listed $159,000 CBMLS
• 2021-08-26 Delisted — CBMLS
• 2021-08-25 Sold (Public Records) — Public Records
• 2021-08-25 Sold (MLS) — CBMLS
• 2021-07-21 Pending — CBMLS
• 2021-07-14 Contingent — CBMLS
• 2021-07-13 Listed $92,000 CBMLS

Property tax history

+9.7%/yr

Latest (2025): $3,117 · +16.2% YoY. Source: county tax records.