3930 Leigh Dr · Corpus Christi, TX 78408

$37,000

2 bd · 1.0 ba · 866 sqft · SingleFamily public records · 36 Days on market

Built 1955 6,625 sqft lot $43/sqft · 69% below area ↓ 26% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

LOCATION, LOCATION, LOCATION! Investment Opportunity on a Great Lot! This property offers an exceptional investment opportunity on a fantastic lot, with quick access to schools, shopping, restaurants, and downtown Corpus Christi. Prime location just steps from Oak Park Elementary School, ensuring strong desirability for future tenants or buyers. Don’t miss the chance to capitalize on a high-visibility, in-demand area with excellent growth potential.

Key facts

• Great lot
• 6,625 sq ft lot
• Built 1955

Tags

• INVESTMENT OPPORTUNITY
• GREAT LOT
• QUICK ACCESS TO SCHOOLS
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO RESTAURANTS
• QUICK ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Lot size approximately 0.15 acres
• Financial info: No financial details provided
• HOA & community: No HOA or community information provided

Exterior

• Parking: Parking information not provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Utilities available
• Home design: Single-story home; Frame construction
• Construction: Built with frame construction; Shingle roof; Pillar/post/pier foundation
• Exterior features: Partial wood fencing; Interior lot

Interior

• Kitchen: No kitchen appliance information provided
• Bedrooms: Number of bedrooms not provided
• Flooring: Flooring information not provided
• Bathrooms: One full bathroom
• Heating & cooling: Heating and cooling information not provided
• Interior features: No notable interior features listed
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $37k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($876 rent vs $37k).
• Recommended offer: $36k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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: 36 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($256 loan paydown + $3k appreciation (8.5% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.37% ✓
• Cap rate: 20.44%
• Cash-on-cash: 50.53%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $118,640
• List price: $37,000
• Delta: -68.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4425 N Cornelia Cir	0.31mi	2/1.0	910 (+5%)	2mo	$94,800	$104	75
541 Villa Dr	0.17mi	2/1.0	928 (+7%)	9mo	$46,900	$51	73
3921 Leigh Dr	0.04mi	2/1.0	906 (+5%)	24mo	$150,000	$166	71
1001 Azalea Dr	0.64mi	2/1.0	864 (-0%)	7mo	$122,000	$141	64
753 W Cornelia Cir	0.39mi	2/1.0	886 (+2%)	19mo	$129,999	$147	62
758 W Cornelia	0.38mi	2/1.0	948 (+10%)	19mo	$145,000	$153	51
946 Erwin Ave	0.55mi	3/1.0 (+1)	950 (+10%)	4mo	$60,000	$63	50
3218 Buddy Lawrence Dr	0.68mi	2/1.0	960 (+11%)	5mo	$124,000	$129	46

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

Projected returns pro-forma

8.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.3%
• Equity multiple: 5.27×
• Total profit: $44,202
• Equity at exit: $29,347

10-year hold

• IRR: 57.0%
• Equity multiple: 11.40×
• Total profit: $107,713
• Equity at exit: $59,474

Cash invested: $10,360 (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 78408

• Home prices YoY: 6.8%
• Active inventory: 36
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $876 high
• Mortgage (P&I): −$194
• Tax est. 1.5%: −$46 /mo · $555/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $436

Break-even live

Break-even rent $324

Max offer price $37,000

Occupancy floor 45%

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: $9,250
• Closing costs: $1,110
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 Villa Dr Unit 7 Corpus Christi, TX	2.0	1.0	628	$649	$1.03	44d	1	0.16mi
725 Villa Dr Corpus Christi, TX	2.0	1.0	650	$649	$1.00	13d	1	0.16mi
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	13d	6	0.35mi
4505 Up River Rd Corpus Christi, TX	2.0	1.0	966	$1,450	$1.50	13d	1	0.40mi
3302 Up River Rd Corpus Christi, TX	2.0	1.0	710	$699	$0.98	13d	1	0.76mi
3002 Antelope St Corpus Christi, TX	1.0	1.0	828	$815	$0.98	44d	1	1.02mi
3115 Agnes St Corpus Christi, TX	2.0	1.0	428	$828	$1.93	44d	3	1.02mi
3002 Antelope St Apt 112 Corpus Christi, TX	1.0	1.0	828	$825	$1.00	44d	1	1.03mi
3002 Antelope St Unit 328 Corpus Christi, TX	1.0	1.0	628	$675	$1.07	44d	1	1.03mi
2937 Ruth St Corpus Christi, TX	2.0	1.0	676	$950	$1.41	44d	1	1.32mi
2245 Comanche St Unit A Corpus Christi, TX	3.0	1.0	1016	$1,350	$1.33	21d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $37,000 Active 36 DOM
2. 2026-06-17
   days on market $37,000 Active 35 DOM
3. 2026-06-16
   days on market $37,000 Active 34 DOM
4. 2026-06-15
   days on market $37,000 Active 33 DOM
5. 2026-06-14
   days on market $37,000 Active 31 DOM
6. 2026-06-10
   days on market $37,000 Active 28 DOM
7. 2026-06-09
   days on market $37,000 Active 27 DOM
8. 2026-06-08
   pricedays on market $37,000 Active 26 DOM
9. 2026-06-07
   days on market $49,777 Active 25 DOM
10. 2026-06-05
    days on market $49,777 Active 22 DOM
11. 2026-06-03
    days on market $49,777 Active 21 DOM
12. 2026-06-02
    days on market $49,777 Active 20 DOM
13. 2026-06-01
    days on market $49,777 Active 19 DOM
14. 2026-05-31
    days on market $49,777 Active 18 DOM
15. 2026-05-30
    days on market $49,777 Active 17 DOM
16. 2026-05-06
    listed $49,777 Active 460-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 26 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: $10,510
• − Mortgage interest: −$2,073
• − Property taxes: −$555
• − Insurance: −$185
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$1,076
• Taxable income: $4,940
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $4,049/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
• City population: 296,836
• Population (ZIP): 9,631

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 (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 39% White 8% Black 7%
• Hispanic origin (detail): Mexican 78%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 46% English-only · Spanish 53% Vietnamese 1%

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: ▲ 8.49%
• Current HPI: 132.544
• 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

-25.7% since first listed

2 events — show timeline

• 2026-06-07 Price Changed $37,000 CBMLS
• 2026-05-06 Listed $49,777 CBMLS

Property tax history

+2.0%/yr

Latest (2025): $1,951 · +2.3% YoY. Source: county tax records.