1809 Merriman Ave · Corpus Christi, TX 78412

$173,500

4 bd · 2.0 ba · 1,570 sqft · SingleFamily public records · 6 Days on market

Built 1955 9,605 sqft lot Est $287k · 40% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +7.3/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Key facts

• Gated access
• Large backyard
• 9,605 sq ft lot

Tags

• LARGE BACKYARD
• GATED ACCESS
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO RESTAURANTS
• QUICK ACCESS TO PARKS
• QUICK ACCESS TO ESSENTIALS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Cap rate 8.9% 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 soft (-1.5%/yr); 207 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 42% 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 11y 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $173,500

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $287,310
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1921 Merriman Ave	0.14mi	4/2.0	1,570 (0%)	1mo	$170,000	$108	92
1601 Merriman Ave	0.24mi	3/2.0 (-1)	1,540 (-2%)	7mo	$125,000	$81	75
8301 Baylark Dr	0.50mi	4/2.0	1,560 (-1%)	5mo	$285,000	$183	72
8105 Baylark Dr	0.48mi	3/2.0 (-1)	1,549 (-1%)	5mo	$180,000	$116	66
8109 Pavo Real St	0.68mi	4/2.0	1,510 (-4%)	1mo	$299,999	$199	61
2114 Spoonbill Dr	0.54mi	3/2.0 (-1)	1,378 (-12%)	4mo	$289,000	$210	46
8010 Osprey St	0.53mi	3/2.0 (-1)	1,404 (-11%)	8mo	$299,900	$214	46
1209 Harbor Village Dr	0.64mi	3/2.0 (-1)	1,442 (-8%)	10mo	$200,000	$139	43
2209 Aquila St	0.72mi	3/2.0 (-1)	1,737 (+11%)	2mo	$345,000	$199	42
1310 Southbay Dr	0.57mi	3/2.0 (-1)	1,779 (+13%)	10mo	$287,000	$161	37
1134 Harbor Village Dr	0.67mi	3/2.0 (-1)	1,389 (-12%)	10mo	$248,500	$179	36
7901 Chachalaca St	0.75mi	3/2.0 (-1)	1,751 (+12%)	12mo	$345,000	$197	31

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: -6.0%
• Equity multiple: 0.79×
• Total profit: $-10,378
• Equity at exit: $25,869

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-2,081
• Equity at exit: $15,001

Cash invested: $48,580 (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 78412

• Rents YoY: -1.5%
• Active inventory: 207
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,141 high
• Mortgage (P&I): −$910
• Tax from tax record: −$334 /mo · $4,010/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $375

Break-even live

Break-even rent $1,666

Max offer price $173,500

Occupancy floor 77%

Sensitivity live

Price	-10% $474	-5% $424	+0% $375	+5% $326	+10% $277
Rent	-10% $206	-5% $291	+0% $375	+5% $460	+10% $545
Rate	-1.0pp $463	-0.5pp $419	base $375	+0.5pp $330	+1.0pp $285

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: $43,375
• Closing costs: $5,205
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2230 Spoonbill Dr Corpus Christi, TX	3.0	2.0	1364	$2,000	$1.47	44d	1	0.62mi
8033 Cormorant Dr Corpus Christi, TX	3.0	2.0	1199	$2,100	$1.75	14d	1	0.64mi
1802 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1030	$1,962	$1.90	14d	36	0.72mi
7610 Quartz Dr Corpus Christi, TX	3.0	2.0	1538	$2,195	$1.43	44d	1	1.03mi
1514 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1164	$2,285	$1.96	14d	1	1.04mi
1701 Ennis Joslin Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1035	$2,259	$2.18	14d	25	1.04mi
2529 Las Brisas St Corpus Christi, TX	4.0	2.0	1572	$2,250	$1.43	21d	1	1.05mi
2525 Whirlwind St Corpus Christi, TX	4.0	2.0	1895	$2,095	$1.11	14d	1	1.06mi
7454 Seal Beach Ct Corpus Christi, TX	3.0	2.0	1571	$2,250	$1.43	21d	1	1.10mi
7454 Seal Beach Ct Corpus Christi, TX	3.0	2.0	1571	$2,250	$1.43	14d	1	1.10mi
2221 Crystal Bay Dr Corpus Christi, TX	4.0	2.0	1705	$2,200	$1.29	14d	1	1.14mi
2617 Whirlwind St Corpus Christi, TX	3.0	2.0	1596	$2,050	$1.28	14d	1	1.15mi
7430 Cessna Dr Corpus Christi, TX	3.0	2.0	1370	$2,000	$1.46	44d	1	1.17mi
3009 Las Brisas St Corpus Christi, TX	3.0	2.0	1487	$2,000	$1.34	14d	1	1.27mi
7510 Wooldridge Rd Corpus Christi, TX	1.0–3.0	1.0–2.0	1148	$2,335	$2.03	44d	1	1.34mi
7218 S Padre Island Dr Corpus Christi, TX	1.0–3.0	1.0–2.0	860	$1,300	$1.51	14d	22	1.35mi
2842 Quebec Dr Corpus Christi, TX	3.0	2.0	1453	$2,200	$1.51	44d	1	1.41mi
7325 Clapton Dr Corpus Christi, TX	4.0	3.0	1900	$2,900	$1.53	44d	1	1.43mi
2809 Quebec Dr Corpus Christi, TX	3.0	2.0	1576	$1,995	$1.27	14d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $173,500 Active 6 DOM
2. 2026-06-17
   days on market $173,500 Active 5 DOM
3. 2026-06-16
   days on market $173,500 Active 4 DOM
4. 2026-06-15
   pricestatusdays on market $173,500 Active 3 DOM
5. 2026-04-10
   status Pending
6. 2026-03-30
   historical
7. 2026-03-28
   listed $169,900 Active
8. 2025-12-03
   listed $175,000 Active
9. 2025-09-25
   price $175,000
10. 2025-07-03
    price $195,000
11. 2025-06-03
    price $214,900
12. 2025-04-22
    listed $234,900 Active
13. 2021-09-15
    historical
14. 2021-09-15
    soldstatus Closed
15. 2021-09-15
    soldstatus
16. 2021-08-18
    status Pending
17. 2021-08-10
    historical Active Under Contract
18. 2021-08-05
    listed $195,000 Active
19. 2016-05-02
    soldstatus
20. 2016-05-01
    historical
21. 2016-03-19
    status Pending
22. 2016-03-09
    historical Option Period
23. 2016-01-21
    status Active
24. 2016-01-21
    price $137,000
25. 2015-11-27
    status Pending
26. 2015-11-17
    historical Option Period
27. 2015-11-10
    price $139,900
28. 2015-10-20
    listed $145,000 Active
29. 2015-06-17
    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: $4,010 · $334/mo
• Projected year-2 tax: $4,010 · $334/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 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $25,696
• − Mortgage interest: −$9,719
• − Property taxes: −$4,010
• − Insurance: −$868
• − Repairs & maintenance: −$2,056
• − Management: −$2,056
• − Depreciation: −$5,047
• Taxable income: $1,941
• Est. tax owed @ 24.0%: −$466
• After-tax cash flow: $4,038/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): 38,631
• Household income: $61,215
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1932.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 57% White 34% Two or more races 29% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 22% Other Indo-European 1% 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: ▼ -255.29%
• Current HPI: 177.36
• Rent YoY: ▼ -1.53%
• 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

+17.2% since first listed

25 events — show timeline

• 2026-04-10 Pending — CBMLS
• 2026-03-30 Delisted — CBMLS
• 2026-03-28 Listed $169,900 CBMLS
• 2025-12-03 Listed $175,000 CBMLS
• 2025-09-25 Price Changed $175,000 CBMLS
• 2025-07-03 Price Changed $195,000 CBMLS
• 2025-06-03 Price Changed $214,900 CBMLS
• 2025-04-22 Listed $234,900 CBMLS
• 2021-09-15 Delisted — CBMLS
• 2021-09-15 Sold (Public Records) — Public Records
• 2021-09-15 Sold (MLS) — CBMLS
• 2021-08-18 Pending — CBMLS
• 2021-08-10 Contingent — CBMLS
• 2021-08-05 Listed $195,000 CBMLS
• 2016-05-02 Sold (Public Records) — Public Records
• 2016-05-01 Delisted — CBMLS
• 2016-03-19 Pending — CBMLS
• 2016-03-09 Contingent — CBMLS
• 2016-01-21 Relisted — CBMLS
• 2016-01-21 Price Changed $137,000 CBMLS
• 2015-11-27 Pending — CBMLS
• 2015-11-17 Contingent — CBMLS
• 2015-11-10 Price Changed $139,900 CBMLS
• 2015-10-20 Listed $145,000 CBMLS
• 2015-06-17 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $4,010 · -8.1% YoY. Source: county tax records.