4413 N Cornelia · Corpus Christi, TX 78408

$88,900

3 bd · 2.0 ba · 1,140 sqft · SingleFamily public records · 114 Days on market

Built 1948 7,200 sqft lot $78/sqft · 34% below area Est $134k · 34% under

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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 +9.2/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to WESTCHESTER PLACE subdivision. This three-bedroom two bath home has a lot to offer with a functional layout, spacious living and dining areas. Kitchen has ample storage with large sized bedrooms. This area holds strong rental demand and can be used as a long-term rental or for owner occupants ready to make the home their own. Grab your favorite Realtor and come check this one out!!!

Key facts

• 7,200 sq ft lot
• Built 1948
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: 36 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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 $8k of equity ($615 loan paydown + $8k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,899 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.07%
• DSCR: 2.20
• GRM: 4.8

CMA / ARV

• ARV (median comp): $133,906
• List price: $88,900
• Delta: -33.61%
• 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
754 Avondale Dr	0.05mi	2/1.0 (-1)	1,166 (+2%)	4mo	$116,000	$99	82
937 Nandina Dr	0.56mi	4/2.0 (+1)	1,111 (-2%)	1mo	$149,500	$135	64
357 W Saxet Dr	0.51mi	3/1.0	1,128 (-1%)	11mo	$188,900	$167	61
329 Garfield Dr	0.51mi	3/2.0	1,100 (-4%)	13mo	$94,900	$86	59
341 W Saxet Dr	0.55mi	2/1.0 (-1)	1,156 (+1%)	5mo	$142,500	$123	59
3740 Brooks Dr	0.47mi	3/1.0	1,244 (+9%)	7mo	$159,900	$129	53
1018 Gardenia Dr	0.71mi	3/2.0	1,188 (+4%)	12mo	$149,900	$126	50
921 Nandina Dr	0.54mi	3/1.0	1,057 (-7%)	13mo	$72,000	$68	48
444 Dixon Dr	0.55mi	2/1.0 (-1)	1,052 (-8%)	9mo	$134,500	$128	45
1018 Ligustrum Dr	0.66mi	3/2.0	1,240 (+9%)	12mo	$55,000	$44	45
3214 Buddy Lawrence Dr	0.69mi	3/2.0	1,288 (+13%)	2mo	$199,000	$155	45
3709 S Saxet Dr	0.73mi	3/2.0	1,246 (+9%)	9mo	$134,900	$108	43

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: 42.4%
• Equity multiple: 4.02×
• Total profit: $75,217
• Equity at exit: $70,511

10-year hold

• IRR: 37.6%
• Equity multiple: 8.71×
• Total profit: $191,954
• Equity at exit: $142,898

Cash invested: $24,892 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$466
• Tax from tax record: −$146 /mo · $1,753/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $561

Break-even live

Break-even rent $822

Max offer price $88,900

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: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4505 Up River Rd Corpus Christi, TX	2.0	1.0	966	$1,450	$1.50	13d	1	0.11mi
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	13d	6	0.43mi
2726 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1300	$2,095	$1.61	44d	1	0.54mi
2706 Grace Dr Unit A Corpus Christi, TX	3.0	2.0	1369	$2,095	$1.53	44d	1	0.54mi
3302 Up River Rd Corpus Christi, TX	2.0	1.0	710	$699	$0.98	13d	1	0.94mi

Listing history 27 events

1. 2026-06-18
   days on market $88,900 Active 114 DOM
2. 2026-06-17
   days on market $88,900 Active 113 DOM
3. 2026-06-16
   days on market $88,900 Active 112 DOM
4. 2026-06-15
   pricedays on market $88,900 Active 111 DOM
5. 2026-06-14
   days on market $93,900 Active 109 DOM
6. 2026-06-10
   days on market $93,900 Active 106 DOM
7. 2026-06-09
   days on market $93,900 Active 105 DOM
8. 2026-06-08
   days on market $93,900 Active 104 DOM
9. 2026-06-07
   days on market $93,900 Active 103 DOM
10. 2026-06-05
    days on market $93,900 Active 100 DOM
11. 2026-06-03
    days on market $93,900 Active 99 DOM
12. 2026-06-02
    days on market $93,900 Active 98 DOM
13. 2026-06-01
    days on market $93,900 Active 97 DOM
14. 2026-05-31
    days on market $93,900 Active 96 DOM
15. 2026-05-30
    days on market $93,900 Active 95 DOM
16. 2026-05-06
    price $93,900 401-char remark

    Show marketing remark (401 chars)

    Welcome home to WESTCHESTER PLACE subdivision. This three-bedroom two bath home has a lot to offer with a functional layout, spacious living and dining areas. Kitchen has ample storage with large sized bedrooms. This area holds strong rental demand and can be used as a long-term rental or for owner occupants ready to make the home their own. Grab your favorite Realtor and come check this one out!!!

17. 2026-03-30
    price $108,900 401-char remark

    Show marketing remark (401 chars)

    Welcome home to WESTCHESTER PLACE subdivision. This three-bedroom two bath home has a lot to offer with a functional layout, spacious living and dining areas. Kitchen has ample storage with large sized bedrooms. This area holds strong rental demand and can be used as a long-term rental or for owner occupants ready to make the home their own. Grab your favorite Realtor and come check this one out!!!

18. 2026-02-24
    listed $118,900 Active 401-char remark

    Show marketing remark (401 chars)

    Welcome home to WESTCHESTER PLACE subdivision. This three-bedroom two bath home has a lot to offer with a functional layout, spacious living and dining areas. Kitchen has ample storage with large sized bedrooms. This area holds strong rental demand and can be used as a long-term rental or for owner occupants ready to make the home their own. Grab your favorite Realtor and come check this one out!!!

19. 2025-05-27
    listed $139,000 Active
20. 2024-09-29
    historical $1,450
21. 2024-07-03
    listed $1,450
22. 2018-11-09
    historical
23. 2018-11-08
    soldstatus Closed
24. 2018-11-08
    soldstatus
25. 2018-10-21
    status Pending
26. 2018-10-10
    historical Option Period
27. 2018-09-19
    listed $59,900 Active

ⓘ 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: $1,753 · $146/mo
• Projected year-2 tax: $1,753 · $146/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) · 70% 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: $18,391
• − Mortgage interest: −$4,980
• − Property taxes: −$1,753
• − Insurance: −$444
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$2,586
• Taxable income: $5,685
• Est. tax owed @ 24.0%: −$1,364
• After-tax cash flow: $5,373/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

+56.8% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $93,900 CBMLS
• 2026-03-30 Price Changed $108,900 CBMLS
• 2026-02-24 Listed $118,900 CBMLS
• 2025-05-27 Listed $139,000 CBMLS
• 2024-09-29 Rental Removed $1,450 CBMLS
• 2024-07-03 Listed for Rent $1,450 CBMLS
• 2018-11-09 Delisted — CBMLS
• 2018-11-08 Sold (Public Records) — Public Records
• 2018-11-08 Sold (MLS) — CBMLS
• 2018-10-21 Pending — CBMLS
• 2018-10-10 Contingent — CBMLS
• 2018-09-19 Listed $59,900 CBMLS

Property tax history

+5.2%/yr

Latest (2025): $1,753 · +22.1% YoY. Source: county tax records.