2113 Red Pine St · Corpus Christi, TX 78409

$239,999

4 bd · 2.0 ba · 1,667 sqft · Land · 91 Days on market

Built 2026 4,356 sqft lot $144/sqft · at area comps Est $236k · at est. ↓ 10% 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).

• Cash flow +18.6/30.0
• ARV discount +6.7/15.0
• Appreciation +6.6/10.0
• DSCR +5.9/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Intimate dining area
• Attached bathroom
• Walk-in closet

Tags

• SINGLE-STORY DESIGN
• PENINSULA-STYLE KITCHEN
• INTIMATE DINING AREA
• OWNER'S SUITE
• ATTACHED BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $240k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (12.3% below list).
• Recommended offer: $210k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Tuloso-Midway ISD (urban): math 33% / reading 46% proficiency, ranked #408 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tuloso-Midway Int (math 35% / reading 45%, grade F, #1,514 of 4,322 statewide, top 36%, 890 students, 66% FRL); Tuloso-Midway Middle (math 33% / reading 44%, grade F, #704 of 1,662 statewide, top 43%, 801 students, 64% FRL); Tuloso-Midway H S (math 23% / reading 54%, grade F, #866 of 1,632 statewide, top 54%, 1,062 students, 57% FRL).
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $8k appreciation (3.1% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Recommended offer $210,398 (12.3% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

• ARV (median comp): $235,761
• List price: $239,999
• Delta: 1.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.68×
• Total profit: $45,371
• Equity at exit: $109,753

10-year hold

• IRR: 13.7%
• Equity multiple: 3.06×
• Total profit: $138,473
• Equity at exit: $170,586

Cash invested: $67,200 (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 →

ZIP-level market 78409

• Home prices YoY: 1.9%
• Active inventory: 33
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,104 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$71 /mo · $847/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $233

Break-even live

Break-even rent $1,809

Max offer price $239,999

Occupancy floor 84%

Sensitivity live

Price	-10% $369	-5% $301	+0% $233	+5% $165	+10% $97
Rent	-10% $67	-5% $150	+0% $233	+5% $316	+10% $399
Rate	-1.0pp $354	-0.5pp $294	base $233	+0.5pp $171	+1.0pp $108

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 Spanish Trl Corpus Christi, TX	4.0	2.0	1957	$2,375	$1.21	15d	1	0.30mi
9318 Moon Beam Trl Corpus Christi, TX	3.0	2.0	1725	$2,000	$1.16	15d	1	0.54mi
9338 Evening Star Ln Corpus Christi, TX	3.0	2.0	1710	$1,700	$0.99	45d	1	0.68mi

Listing history 7 events

1. 2026-05-12
   price $239,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

2. 2026-05-06
   price $263,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

3. 2026-04-11
   price $266,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

4. 2026-03-24
   price $268,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

5. 2026-03-18
   price $267,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

6. 2026-03-17
   price $266,999 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

7. 2026-02-19
   listed $265,999 New 616-char remark

   Show marketing remark (616 chars)

   The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

ⓘ 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: $847 · $71/mo
• Projected year-2 tax: $4,392 · $366/mo
• Expected delta: +$3,545/yr (+$295/mo · 418.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $25,248
• − Mortgage interest: −$13,444
• − Property taxes: −$847
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − Depreciation: −$6,982
• Taxable loss: −$1,264
• Est. tax savings @ 24.0%: +$303
• After-tax cash flow: $3,099/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: Tuloso-Midway ISD
• NCES district ID: 4843350
• Math proficiency: 33% ▼ -13.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $53,078
• Composite: 34.33/100
• National rank: #5235
• State rank: #408 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): 2,504

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 43% White 25% Native American 1%
• Hispanic origin (detail): Mexican 70%
• Common ancestry: Romanian 1%
• Foreign-born: 14% · Canada, Guatemala
• Languages at home: 60% English-only · Spanish 39%

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: ▲ 3.14%
• Current HPI: 164.8665
• 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

-9.8% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $239,999 LERA
• 2026-05-06 Price Changed $263,999 LERA
• 2026-04-11 Price Changed $266,999 LERA
• 2026-03-24 Price Changed $268,999 LERA
• 2026-03-18 Price Changed $267,999 LERA
• 2026-03-17 Price Changed $266,999 LERA
• 2026-02-19 Listed $265,999 LERA

Property tax history

+72.8%/yr

Latest (2025): $847 · +72.8% YoY. Source: county tax records.