1000 Park Ave · Corpus Christi, TX 78401

$79,900

4 bd · 4.0 ba · 2,592 sqft · Other public records · 54 Days on market

Built 1926 7,244 sqft lot $31/sqft · 68% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

1000 Park Avenue is a four-plex featuring four 1-bedroom, 1-bath apartments located just a short distance from the Bayfront. The property has a long rental history and offers strong potential for investors seeking a value-add opportunity. In its current condition, the units are not livable, presenting a blank slate for a new owner to renovate and reposition the property. With the right vision and improvements, this property has the potential to be brought back to life and become a solid addition to an investment portfolio. Bring your favorite Realtor and your general contractor to explore the possibilities and see the potential this four-plex has to offer.

Key facts

• 7,244 sq ft lot
• Built 1926
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Windsor Park G/T (math 85% / reading 90%, grade A+, #6 of 4,322 statewide, top 0%, 609 students, 29% FRL); Adkins Middle (math 40% / reading 39%, grade F, #660 of 1,662 statewide, top 41%, 956 students, 48% FRL); Roy Miller H S And Metro School of Design (math 24% / reading 32%, grade F, #1,170 of 1,632 statewide, top 72%, 1,538 students, 88% FRL).
• Zoned-school proficiency averages 52% at this address vs 33% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Corpus Christi ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 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 ($552 loan paydown + $3k appreciation (3.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 1.6% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, 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 54 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 1926 — 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 $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1926 — 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: 20.46%
• Cash-on-cash: 50.60%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $247,993
• List price: $79,900
• Delta: -67.78%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

3.37% appreciation · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 54.9%
• Equity multiple: 4.07×
• Total profit: $68,745
• Equity at exit: $37,614

10-year hold

• IRR: 53.6%
• Equity multiple: 7.94×
• Total profit: $155,289
• Equity at exit: $59,316

Cash invested: $22,372 (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 78401

• Home prices YoY: 3.8%
• Rents YoY: 1.6%
• Active inventory: 41
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $943

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 45%

Sensitivity live

Price	-10% $999	-5% $971	+0% $943	+5% $916	+10% $888
Rent	-10% $794	-5% $869	+0% $943	+5% $1,018	+10% $1,093
Rate	-1.0pp $984	-0.5pp $964	base $943	+0.5pp $923	+1.0pp $902

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 Southern St Corpus Christi, TX	4.0	2.5	2028	$2,350	$1.16	45d	1	1.24mi

Listing history 9 events

1. 2026-05-14
   status Pending 664-char remark

   Show marketing remark (664 chars)

   1000 Park Avenue is a four-plex featuring four 1-bedroom, 1-bath apartments located just a short distance from the Bayfront. The property has a long rental history and offers strong potential for investors seeking a value-add opportunity. In its current condition, the units are not livable, presenting a blank slate for a new owner to renovate and reposition the property. With the right vision and improvements, this property has the potential to be brought back to life and become a solid addition to an investment portfolio. Bring your favorite Realtor and your general contractor to explore the possibilities and see the potential this four-plex has to offer.

2. 2026-05-06
   historical 664-char remark

   Show marketing remark (664 chars)

   1000 Park Avenue is a four-plex featuring four 1-bedroom, 1-bath apartments located just a short distance from the Bayfront. The property has a long rental history and offers strong potential for investors seeking a value-add opportunity. In its current condition, the units are not livable, presenting a blank slate for a new owner to renovate and reposition the property. With the right vision and improvements, this property has the potential to be brought back to life and become a solid addition to an investment portfolio. Bring your favorite Realtor and your general contractor to explore the possibilities and see the potential this four-plex has to offer.

3. 2026-03-12
   listed $79,900 Active 664-char remark

   Show marketing remark (664 chars)

   1000 Park Avenue is a four-plex featuring four 1-bedroom, 1-bath apartments located just a short distance from the Bayfront. The property has a long rental history and offers strong potential for investors seeking a value-add opportunity. In its current condition, the units are not livable, presenting a blank slate for a new owner to renovate and reposition the property. With the right vision and improvements, this property has the potential to be brought back to life and become a solid addition to an investment portfolio. Bring your favorite Realtor and your general contractor to explore the possibilities and see the potential this four-plex has to offer.

4. 2006-05-09
   listed $104,900
5. 2003-07-28
   soldstatus $145,000
6. 2001-02-28
   soldstatus
7. 2000-07-15
   listed $48,000
8. 2000-03-15
   soldstatus
9. 1999-06-29
   listed $45,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $22,716
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$2,324
• Taxable income: $10,683
• Est. tax owed @ 24.0%: −$2,564
• After-tax cash flow: $8,756/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): 4,344
• Household income: $40,841
• Rent vs Own: 86.0% rent · 14.0% own
• Severe rent burden: 336.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 46% White 38% Two or more races 27% Black 13% Native American 2%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Slovak 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 71% English-only · Spanish 27% French/Haitian/Cajun 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: ▲ 3.37%
• Current HPI: 92.634
• Rent YoY: ▲ 1.63%
• 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

+77.6% since first listed

9 events — show timeline

• 2026-05-14 Pending — CBMLS
• 2026-05-06 Delisted — CBMLS
• 2026-03-12 Listed $79,900 CBMLS
• 2006-05-09 Listed $104,900 CBMLS
• 2003-07-28 Sold (Public Records) $145,000 Public Records
• 2001-02-28 Sold (MLS) — CBMLS
• 2000-07-15 Listed $48,000 CBMLS
• 2000-03-15 Sold (MLS) — CBMLS
• 1999-06-29 Listed $45,000 CBMLS

Property tax history

+10.2%/yr

Latest (2025): $4,661 · +22.1% YoY. Source: county tax records.