2809 Austin St · Corpus Christi, TX 78404

$175,000

3 bd · 1.5 ba · 1,676 sqft · SingleFamily public records · 59 Days on market

Built 1939 6,251 sqft lot $104/sqft · 12% below area Est $198k · 12% under

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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 +20.0/30.0
• ARV discount +12.8/15.0
• DSCR +6.3/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling All Investors !! Great potential for investors, flippers, or buyers ready to take on a project and make it into their own, this property is being sold AS IS

Key facts

• 6,251 sq ft lot
• Parking
• Built 1939

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: Rents rising (+1.9%/yr); 141 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• This rent runs 38% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 59 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1939 — 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: 1.11% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 7.5

CMA / ARV

• ARV (median comp): $198,489
• List price: $175,000
• Delta: -11.83%
• 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
714 Indiana Ave	0.41mi	3/2.0	1,741 (+4%)	2mo	$265,000	$152	70
616 Sorrell St	0.36mi	3/2.0	1,786 (+7%)	3mo	$160,000	$90	68
602 Sorrell St	0.31mi	2/1.0 (-1)	1,788 (+7%)	1mo	$227,000	$127	67
634 Sorrell St	0.41mi	3/2.0	1,552 (-7%)	1mo	$237,500	$153	66
502 Vaky St	0.34mi	3/2.0	1,543 (-8%)	6mo	$67,900	$44	64
702 Texas Ave	0.36mi	3/2.0	1,514 (-10%)	2mo	$239,900	$158	63
1154 Florida Ave	0.68mi	3/2.0	1,737 (+4%)	1mo	$275,000	$158	59
433 Atlantic St	0.32mi	2/2.0 (-1)	1,498 (-11%)	6mo	$299,990	$200	56
3225 Lawnview St	0.70mi	3/2.0	1,583 (-6%)	4mo	$299,500	$189	53
1201 Devon Dr	0.73mi	3/2.0	1,497 (-11%)	1mo	$209,500	$140	46
1113 Annapolis Dr	0.72mi	3/2.0	1,518 (-9%)	4mo	$224,900	$148	45
1725 15th St	0.74mi	3/2.5	1,447 (-14%)	2mo	$190,000	$131	37

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-16,791
• Equity at exit: $26,093

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-5,395
• Equity at exit: $15,131

Cash invested: $49,000 (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 78404

• Rents YoY: 1.9%
• Active inventory: 141
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,937 high
• Mortgage (P&I): −$918
• Tax from tax record: −$325 /mo · $3,900/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $214

Break-even live

Break-even rent $1,665

Max offer price $175,000

Occupancy floor 84%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
455 Louisiana Ave Corpus Christi, TX	2.0	1.0	1528	$3,000	$1.96	21d	1	0.19mi
417 Southern St Corpus Christi, TX	4.0	2.5	2028	$2,350	$1.16	43d	1	0.27mi
3102 Santa Fe St Corpus Christi, TX	1.0–2.0	1.0–2.0	922	$1,095	$1.19	43d	1	0.54mi
2901 S Staples St Unit B Corpus Christi, TX	2.0	1.0	2236	$900	$0.40	43d	1	0.62mi
1802 16th St Unit B Corpus Christi, TX	3.0	1.0	1575	$1,000	$0.63	43d	1	0.65mi
426 Palmero St Corpus Christi, TX	3.0	2.0	1720	$1,350	$0.78	43d	1	0.68mi
1539 10th St Unit 1 Corpus Christi, TX	2.0	1.0	1944	$1,225	$0.63	43d	1	0.93mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	43d	1	0.95mi
1405 Annapolis Dr Corpus Christi, TX	3.0	1.5	1502	$2,000	$1.33	13d	1	1.06mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	13d	1	1.12mi
1117 Ocean Dr Unit B Corpus Christi, TX	2.0	1.0	1543	$3,000	$1.94	43d	1	1.12mi
2622 Cloyde St Corpus Christi, TX	2.0	1.0	1693	$1,150	$0.68	43d	1	1.13mi
3314 Casa de Palmas Dr Corpus Christi, TX	3.0	2.0	1869	$2,300	$1.23	13d	1	1.15mi
1446 Annapolis Dr Corpus Christi, TX	3.0	2.0	1500	$1,700	$1.13	43d	1	1.16mi
3509 Topeka St Corpus Christi, TX	2.0	1.0	1114	$1,850	$1.66	43d	1	1.16mi
225 Watson St Corpus Christi, TX	3.0	1.0	1472	$1,295	$0.88	43d	1	1.16mi
522 Hancock Ave Unit 1-319 Corpus Christi, TX	2.0	2.0	1133	$1,625	$1.43	21d	1	1.24mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	13d	1	1.26mi
1522 Cambridge Dr Corpus Christi, TX	3.0	1.5	1278	$1,600	$1.25	43d	1	1.26mi
522 Hancock Ave Corpus Christi, TX	1.0–2.0	1.0–2.0	915	$2,000	$2.18	13d	10	1.26mi
3562 Topeka St Corpus Christi, TX	3.0	1.0	1208	$1,695	$1.40	13d	1	1.29mi
813 Furman Ave Apt 1 Corpus Christi, TX	3.0	2.0	1430	$1,475	$1.03	13d	1	1.30mi
823 S Water St Corpus Christi, TX	2.0	2.0	1243	$2,000	$1.61	13d	1	1.31mi
802 S Carancahua St Corpus Christi, TX	2.0	1.0–2.0	869	$1,770	$2.04	13d	68	1.34mi
1107 14th St Corpus Christi, TX	4.0	1.5	1520	$1,300	$0.86	43d	1	1.39mi
801 S Alameda St Unit A Corpus Christi, TX	2.0	1.0	1760	$900	$0.51	43d	1	1.42mi

Listing history 23 events

1. 2026-06-18
   days on market $175,000 Active 59 DOM
2. 2026-06-17
   days on market $175,000 Active 58 DOM
3. 2026-06-16
   days on market $175,000 Active 57 DOM
4. 2026-06-15
   days on market $175,000 Active 56 DOM
5. 2026-06-14
   days on market $175,000 Active 54 DOM
6. 2026-06-10
   days on market $175,000 Active 51 DOM
7. 2026-06-09
   days on market $175,000 Active 50 DOM
8. 2026-06-08
   days on market $175,000 Active 49 DOM
9. 2026-06-07
   days on market $175,000 Active 48 DOM
10. 2026-06-05
    days on market $175,000 Active 45 DOM
11. 2026-06-03
    days on market $175,000 Active 44 DOM
12. 2026-06-02
    days on market $175,000 Active 43 DOM
13. 2026-06-01
    days on market $175,000 Active 42 DOM
14. 2026-05-31
    days on market $175,000 Active 41 DOM
15. 2026-05-30
    days on market $175,000 Active 40 DOM
16. 2026-04-16
    listed $175,000 Active 164-char remark

    Show marketing remark (164 chars)

    Calling All Investors !! Great potential for investors, flippers, or buyers ready to take on a project and make it into their own, this property is being sold AS IS

17. 2025-11-05
    soldstatus
18. 2024-10-03
    price $119,900
19. 2024-02-02
    price $139,900
20. 2024-01-26
    listed $149,900 Active
21. 2023-09-28
    listed $149,900 Active
22. 2023-09-05
    soldstatus
23. 2023-08-14
    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: $3,900 · $325/mo
• Projected year-2 tax: $3,900 · $325/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 22 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: $23,240
• − Mortgage interest: −$9,803
• − Property taxes: −$3,900
• − Insurance: −$875
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$5,091
• Taxable loss: −$147
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $2,607/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): 12,635
• Household income: $61,280
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 596.0

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 Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% White 32% Two or more races 29% Black 4%
• Hispanic origin (detail): Mexican 56%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 61% 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: ▼ -211.10%
• Current HPI: 177.4759
• Rent YoY: ▲ 1.87%
• 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

+16.7% since first listed

8 events — show timeline

• 2026-04-16 Listed $175,000 CBMLS
• 2025-11-05 Sold (Public Records) — Public Records
• 2024-10-03 Price Changed $119,900 CBMLS
• 2024-02-02 Price Changed $139,900 CBMLS
• 2024-01-26 Listed $149,900 CBMLS
• 2023-09-28 Listed $149,900 CBMLS
• 2023-09-05 Sold (Public Records) — Public Records
• 2023-08-14 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $3,900 · -7.4% YoY. Source: county tax records.