3938 Surfside Blvd #3106 · Corpus Christi, TX 78402

$55,000

1 bd · 1.0 ba · 420 sqft · Condo · 41 Days on market

Built 1981 Good condition $131/sqft · 53% below area $575/mo HOA · 49% of rent ↓ 15% 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).

• Cash flow +10.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.1/10.0

Listing remarks

GREAT RENTAL INVESTMENT OPPORTUNITY! Step into coastal living with this nicely decorated 1-bedroom, 1-bath condo located right on the beach. Enjoy breathtaking sunrise and sunset views from your private balcony, where the salt air, rolling waves, and sandy shoreline create the perfect backdrop for relaxation. Inside, the condo is move-in ready, offering tasteful décor and a warm, inviting atmosphere ideal for full-time living, a weekend getaway, or a short-term rental. With the beach just steps away, you’ll experience the true essence of coastal living every day. Conveniently located near the Texas State Aquarium, USS Lexington, and just over the New Bridge from downtown Corpus

Key facts

• Private balcony
• Near uss lexington
• $575 HOA

Tags

• PRIVATE BALCONY
• BREATHTAKING SUNRISE VIEWS
• BREATHTAKING SUNSET VIEWS
• STEPS AWAY FROM THE BEACH
• NEAR TEXAS STATE AQUARIUM
• NEAR USS LEXINGTON

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Association fee includes common areas, cable TV, insurance, internet, grounds maintenance, structure maintenance, security, trash, and water; Community amenities: beach rights, beach access, controlled access, gated entry, laundry, pool, trails; Short-term rentals allowed

Exterior

• Parking: Covered parking with asphalt and concrete surfaces; 2 total parking spaces
• Security: Gated community; Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Pillar/post/pier foundation
• Construction: Stucco construction
• Exterior features: Covered patio; Patio; Chain link and wood fencing; Automatic gate; Private in-ground pool; Bay front waterfront; Has a view

Interior

• Kitchen: Electric cooktop; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Window coverings; Air filtration; Cable TV; Window treatments

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-32 ($-379/yr) — negative.
• To cash-flow at today's rent, offer at most $50k (8.3% below list).
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (8.3% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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: 72 active listings in the ZIP; 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 $380 of loan paydown is wiped out by about $2k 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 41 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $50,425 (8.3% 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 41 days. Have you received any prior offers? Is the seller open to a 8% 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. 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 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: 2.13% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 3.9

CMA / ARV

• ARV (median comp): $118,173
• List price: $55,000
• Delta: -53.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-10,555
• Equity at exit: $8,201

10-year hold

• IRR: -10.7%
• Equity multiple: 0.33×
• Total profit: $-10,277
• Equity at exit: $4,755

Cash invested: $15,400 (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 78402

• Home prices YoY: -8.8%
• Active inventory: 72
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-32

Break-even live

Break-even rent $1,209

Max offer price $50,425

Occupancy floor 98%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $55,000 Active 41 DOM
2. 2026-06-17
   days on market $55,000 Active 40 DOM
3. 2026-06-16
   days on market $55,000 Active 39 DOM
4. 2026-06-15
   remarks 686-char remark
5. 2026-06-15
   pricedays on market $55,000 Active 38 DOM
6. 2026-06-14
   days on market $65,000 Active 36 DOM
7. 2026-06-10
   days on market $65,000 Active 33 DOM
8. 2026-06-09
   days on market $65,000 Active 32 DOM
9. 2026-06-08
   days on market $65,000 Active 31 DOM
10. 2026-06-07
    days on market $65,000 Active 30 DOM
11. 2026-06-05
    days on market $65,000 Active 27 DOM
12. 2026-06-03
    days on market $65,000 Active 26 DOM
13. 2026-06-02
    days on market $65,000 Active 25 DOM
14. 2026-06-01
    days on market $65,000 Active 24 DOM
15. 2026-05-31
    days on market $65,000 Active 23 DOM
16. 2026-05-30
    days on market $65,000 Active 22 DOM
17. 2026-05-08
    listed $68,500 Active 771-char remark
18. 2024-11-07
    status Active
19. 2024-04-18
    price $115,000
20. 2024-03-26
    listed $120,000 Active
21. 2023-09-05
    price $130,000
22. 2023-09-04
    listed $150,000 Active
23. 2014-03-22
    listed $69,500
24. 2011-09-22
    listed $65,000

ⓘ 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: $14,028
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$1,600
• Taxable loss: −$898
• Est. tax savings @ 24.0%: +$215
• After-tax cash flow: $-164/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

This move-in ready beachfront condo offers stunning views and a cozy, well-maintained interior. Minor updates to the kitchen and bathroom would significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — Light scratches and wear
• Minor bathroom tiles — Some minor staining

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace kitchen cabinets — Improves functionality and aesthetics
• Both Replace bathroom tiles — Enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Light scratches and wear	Minor	$500–3,000
bathroom tiles · Some minor staining	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace kitchen cabinets — Improves functionality and aesthetics ↑
• Both Replace bathroom tiles — Enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 296,836
• Population (ZIP): 392

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 17% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 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: ▼ -9.74%
• Current HPI: 101.5421
• Rent YoY: —
• Metro: —
• 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

-15.4% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $55,000 CBMLS
• 2026-05-28 Price Changed $65,000 CBMLS
• 2026-05-08 Listed $68,500 CBMLS
• 2024-11-07 Relisted — CBMLS
• 2024-04-18 Price Changed $115,000 CBMLS
• 2024-03-26 Listed $120,000 CBMLS
• 2023-09-05 Price Changed $130,000 CBMLS
• 2023-09-04 Listed $150,000 CBMLS
• 2014-03-22 Listed $69,500 CBMLS
• 2011-09-22 Listed $65,000 CBMLS