3938 Surfside Blvd #1316 · Corpus Christi, TX 78402

$64,500

1 bd · 1.0 ba · 420 sqft · Townhouse public records · 84 Days on market

Built 1981 928 sqft lot Est $50k · 29% over $575/mo HOA · 49% of rent

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• Cash flow +4.6/30.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks

Whether you are looking for a primary residence, a short-term rental investment, or the perfect vacation/weekend getaway, this furnished condo checks all the boxes. Enjoy incredible Bay views from your private balcony or living/kitchen area, beach walks and refreshing swims-at no cost. . Just bring your personal items and settle in. The unit comfortably sleeps six, featuring a primary bedroom, hallway bunk beds, and a pull out sofa. The kitchenette is equipped with an electric stove, island with storage under it & 3 bar stools, beautiful tile back splash, microwave, and refrigerator, plus a separate coffee area-perfect for sipping your morning brew on the private balcony while watchin

Key facts

• Kitchenette
• Private balcony
• Tile back splash

Tags

• PRIVATE BALCONY
• KITCHENETTE
• ELECTRIC STOVE
• ISLAND WITH STORAGE
• TILE BACK SPLASH
• SEPARATE COFFEE AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $64k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $35k (45.0% below list).
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $35k (45.0% below list) — sets the bar for cash-flow.

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: 76 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $446 of loan paydown is wiped out by about $2k 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 84 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $31k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $64k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 49% of rent.

Recommended offer $35,495 (45.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.81% ✓
• Cap rate: 3.24%
• Cash-on-cash: -10.91%
• DSCR: 0.51
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $49,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3938 Surfside Blvd #1316	0.00mi	1/1.0	420 (0%)	1mo	$64,500	$154	99
3938 Surfside Blvd #1219	0.01mi	1/1.0	420 (0%)	1mo	$44,900	$107	99
3938 Surfside Blvd #1225	0.01mi	1/1.0	420 (0%)	2mo	$50,000	$119	98
3938 Surfside Blvd #3225	0.04mi	1/1.0	420 (0%)	1mo	$39,900	$95	98
3938 Surfside Blvd #1207	0.02mi	1/1.0	420 (0%)	2mo	$50,000	$119	97
3938 Surfside Blvd #1327	0.02mi	1/1.0	420 (0%)	2mo	$50,000	$119	97
3938 Surfside Blvd #3224	0.04mi	1/1.0	420 (0%)	1mo	$55,000	$131	97
3938 Surfside Blvd #2327	0.05mi	1/1.0	420 (0%)	1mo	$58,000	$138	97
3938 Surfside Blvd #3114	0.05mi	1/1.0	420 (0%)	2mo	$45,000	$107	96
3938 Surfside Blvd #3342	0.04mi	1/1.0	420 (0%)	2mo	$62,000	$148	96
3938 Surfside Blvd #2332	0.05mi	1/1.0	420 (0%)	2mo	$48,000	$114	96
3938 Surfside Blvd #2305	0.05mi	1/1.0	418 (-0%)	3mo	$100,000	$239	94

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -34.9%
• Equity multiple: -0.13×
• Total profit: $-20,497
• Equity at exit: $9,617

10-year hold

• IRR: -39.5%
• Equity multiple: -0.64×
• Total profit: $-29,640
• Equity at exit: $5,577

Cash invested: $18,060 (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 78402

• Home prices YoY: -8.8%
• Active inventory: 76
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$338
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$27
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-164

Break-even live

Break-even rent $1,377

Max offer price $35,495

Occupancy floor —

Sensitivity live

Price	-10% $-128	-5% $-146	+0% $-164	+5% $-182	+10% $-201
Rent	-10% $-257	-5% $-210	+0% $-164	+5% $-118	+10% $-72
Rate	-1.0pp $-132	-0.5pp $-148	base $-164	+0.5pp $-181	+1.0pp $-198

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $575 · $6,900/yr
• Likely covers: electric

Listing history 16 events

1. 2026-01-01
   historical
2. 2025-11-23
   price $84,900
3. 2025-07-10
   price $89,500
4. 2025-06-01
   listed $89,500 Active
5. 2025-06-01
   listed $95,500 Active
6. 2016-03-18
   soldstatus
7. 2011-11-10
   soldstatus
8. 2011-06-13
   soldstatus
9. 2011-04-29
   listed $33,100
10. 2010-06-17
    soldstatus $33,300
11. 2008-09-03
    listed $51,900
12. 2006-11-22
    soldstatus
13. 2006-11-17
    soldstatus
14. 2006-09-15
    listed $68,900
15. 2005-09-26
    soldstatus
16. 1999-06-23
    soldstatus $35,000

ⓘ 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: $1,771 · $148/mo
• Projected year-2 tax: $1,771 · $148/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $14,028
• − Mortgage interest: −$3,613
• − Property taxes: −$1,771
• − Insurance: −$322
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$1,876
• Taxable loss: −$2,699
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $-1,322/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): 392

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 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 17% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 2%

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: ▼ -9.74%
• Current HPI: 101.5421
• 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

+142.6% since first listed

16 events — show timeline

• 2026-01-01 Delisted — CBMLS
• 2025-11-23 Price Changed $84,900 CBMLS
• 2025-07-10 Price Changed $89,500 CBMLS
• 2025-06-01 Listed $95,500 CBMLS
• 2025-06-01 Listed $89,500 CBMLS
• 2016-03-18 Sold (Public Records) — Public Records
• 2011-11-10 Sold (Public Records) — Public Records
• 2011-06-13 Sold (MLS) — CBMLS
• 2011-04-29 Listed $33,100 CBMLS
• 2010-06-17 Sold (Public Records) $33,300 Public Records
• 2008-09-03 Listed $51,900 CBMLS
• 2006-11-22 Sold (Public Records) — Public Records
• 2006-11-17 Sold (MLS) — CBMLS
• 2006-09-15 Listed $68,900 CBMLS
• 2005-09-26 Sold (Public Records) — Public Records
• 1999-06-23 Sold (Public Records) $35,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,771 · -25.6% YoY. Source: county tax records.