1311-1315 Morris Ave · Corpus Christi, TX 78401

$115,000

5 bd · 3.5 ba · 992 sqft · SingleFamily public records · 43 Days on market

Built 1955 7,736 sqft lot $116/sqft · 31% below area Est $190k · 40% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Looking for a prime investment opportunity within walking distance to downtown and the water? Look no further than these lots with great potential to fully renovate its existing homes or build a creative investment property. Less than a 5 minute drive to the T-heads, Cole Park, great downtown restaurants & more, the possibilities are endless for this location. There are 3 lots for sale side by-side ready and waiting for your vision (2 of the lots have homes on them that could be fully renovated from the studs up). 1311- 3 bed 1.5 bath & 1315- a corner lot with a 2 bedroom, 2 full bath home has multiple entry points from the street great for multiple units.

Key facts

• 7,736 sq ft lot
• Built 1955
• Listed 43 days

Property features AI

Exterior

• Parking: Front entry parking; On-street parking
• Utilities: Overhead utilities; Public water; Public sewer (sewer available)
• Home design: Single-story; Faces north; Pillar/post/pier foundation
• Construction: Wood siding; Shingle roof; Built on pillar/post/pier foundation
• Exterior features: Covered patio; Patio; Chain link fencing; Interior lot

Interior

• Bathrooms: 3 full bathrooms; 1 half bathroom
• Interior features: No additional interior features listed

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 (+1.6%/yr); 39 active listings in the ZIP; lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $1,760/mo this rent would consume 52% of the median local household income ($41k/yr) (locally 336% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($795 loan paydown + $4k 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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: 1.53% ✓
• Cap rate: 13.16%
• Cash-on-cash: 24.52%
• DSCR: 2.09
• GRM: 5.4

CMA / ARV

• ARV (median comp): $190,486
• List price: $115,000
• Delta: -39.63%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.3%
• Equity multiple: 2.73×
• Total profit: $55,645
• Equity at exit: $54,138

10-year hold

• IRR: 29.7%
• Equity multiple: 5.14×
• Total profit: $133,448
• Equity at exit: $85,374

Cash invested: $32,200 (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 78401

• Home prices YoY: 3.8%
• Rents YoY: 1.6%
• Active inventory: 39
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,760 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $658

Break-even live

Break-even rent $927

Max offer price $115,000

Occupancy floor 58%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $115,000 Active 43 DOM
2. 2026-06-17
   days on market $115,000 Active 42 DOM
3. 2026-06-16
   days on market $115,000 Active 41 DOM
4. 2026-06-15
   days on market $115,000 Active 40 DOM
5. 2026-06-14
   days on market $115,000 Active 38 DOM
6. 2026-06-10
   days on market $115,000 Active 35 DOM
7. 2026-06-09
   days on market $115,000 Active 34 DOM
8. 2026-06-08
   days on market $115,000 Active 33 DOM
9. 2026-06-07
   days on market $115,000 Active 32 DOM
10. 2026-06-05
    days on market $115,000 Active 29 DOM
11. 2026-06-03
    days on market $115,000 Active 28 DOM
12. 2026-06-02
    days on market $115,000 Active 27 DOM
13. 2026-06-01
    days on market $115,000 Active 26 DOM
14. 2026-05-31
    days on market $115,000 Active 25 DOM
15. 2026-05-30
    days on market $115,000 Active 24 DOM
16. 2026-05-06
    listed $125,000 Active 677-char remark
17. 2026-01-30
    status Active
18. 2025-12-12
    status Pending
19. 2025-12-06
    historical
20. 2025-11-14
    listed $45,000 Active
21. 2025-11-09
    historical
22. 2025-10-29
    listed $45,000 Active
23. 2024-01-15
    status Active
24. 2024-01-03
    historical Active Under Contract
25. 2023-12-21
    price $59,000
26. 2023-08-11
    listed $65,000 Active
27. 2022-04-19
    soldstatus
28. 1999-05-19
    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: $976 · $81/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$1,129/yr (+$94/mo · 115.7%)

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

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: $21,119
• − Mortgage interest: −$6,442
• − Property taxes: −$976
• − Insurance: −$575
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$3,345
• Taxable income: $6,402
• Est. tax owed @ 24.0%: −$1,537
• After-tax cash flow: $6,360/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

+76.9% since first listed

14 events — show timeline

• 2026-05-21 Price Changed $115,000 CBMLS
• 2026-05-06 Listed $125,000 CBMLS
• 2026-01-30 Relisted — CBMLS
• 2025-12-12 Pending — CBMLS
• 2025-12-06 Delisted — CBMLS
• 2025-11-14 Listed $45,000 CBMLS
• 2025-11-09 Delisted — CBMLS
• 2025-10-29 Listed $45,000 CBMLS
• 2024-01-15 Relisted — CBMLS
• 2024-01-03 Contingent — CBMLS
• 2023-12-21 Price Changed $59,000 CBMLS
• 2023-08-11 Listed $65,000 CBMLS
• 2022-04-19 Sold (Public Records) — Public Records
• 1999-05-19 Sold (Public Records) — Public Records

Property tax history

-1.8%/yr

Latest (2025): $976 · -10.9% YoY. Source: county tax records.