515 Harmon St · Corpus Christi, TX 78405

$143,900

3 bd · 2.0 ba · 1,455 sqft · SingleFamily public records · 82 Days on market

Built 1960 10,498 sqft lot $99/sqft · 6% above area Est $135k · 6% over

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Why this score? — see what drove the D 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 +12.7/30.0
• Appreciation +5.7/10.0
• ARV discount +4.6/15.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A lovely 1,450 sqft 1960’s Craftsman Home for sale on a huge 10,500 sqft corner lot.   The home has 3 bedrooms, 2 newly remodeled bathrooms and floors, large kitchen with a breakfast area, open dinning/den area and living room.   The property has two vehicle driveway entrances that lead to a large covered car port area and a storage accessory building.     Huge yard area is perfect for playtime and sunbathing or for additional structures to be built for more revenue. Property is large enough for potential duplex with no zoning incumbrance. The home’s layout is also ideal for a small real estate, attorney, dentist, home occupation office or a non-profit providing services to the community due to its close proximity and visibility to Port Ave.   The property is 10 minutes from downtown , City Hall and the SEA District.

Key facts

• Large kitchen
• Corner lot
• Breakfast area

Tags

• CORNER LOT
• LARGE KITCHEN
• BREAKFAST AREA
• OPEN DINNING DEN AREA
• TWO VEHICLE DRIVEWAY ENTRANCES
• LARGE COVERED CAR PORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $-16 ($-192/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (9.8% below list).
• Recommended offer: $130k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• 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: 77 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 41% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($995 loan paydown + $2k appreciation (1.4% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~9 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 82 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,748 (9.8% 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 82 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (median comp): $135,250
• List price: $143,900
• Delta: 6.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 Espinoza St	0.51mi	3/2.0	1,500 (+3%)	1mo	$115,000	$77	70
318 Cheyenne St	0.56mi	3/2.0	1,368 (-6%)	2mo	$215,000	$157	62
717 25th St	0.17mi	3/1.0	1,307 (-10%)	12mo	$42,500	$33	61
2832 Highland Ave	0.21mi	3/2.0	1,263 (-13%)	9mo	$199,900	$158	61
528 S 19th St	0.49mi	3/2.0	1,288 (-12%)	3mo	$199,000	$155	56
532 S 19th St	0.50mi	3/2.0	1,288 (-12%)	4mo	$199,000	$155	55
2201 Morris St	0.49mi	4/2.0 (+1)	1,352 (-7%)	8mo	$215,000	$159	54
2206 Coleman Ave	0.48mi	4/2.0 (+1)	1,352 (-7%)	8mo	$215,000	$159	54
2202 Coleman Ave	0.49mi	4/2.0 (+1)	1,352 (-7%)	10mo	$215,000	$159	52
3410 Kenwood Dr	0.58mi	4/1.0 (+1)	1,368 (-6%)	9mo	$149,900	$110	46
2201 Comanche St	0.67mi	3/1.0	1,340 (-8%)	8mo	$44,000	$33	45
310 W Longview St	0.65mi	3/1.0	1,248 (-14%)	14mo	$175,000	$140	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.12×
• Total profit: $4,704
• Equity at exit: $52,301

10-year hold

• IRR: 6.6%
• Equity multiple: 1.84×
• Total profit: $33,742
• Equity at exit: $72,028

Cash invested: $40,292 (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 78405

• Home prices YoY: 1.3%
• Active inventory: 77
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$755
• Tax from tax record: −$226 /mo · $2,717/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-16

Break-even live

Break-even rent $1,318

Max offer price $141,070

Occupancy floor 96%

Sensitivity live

Price	-10% $65	-5% $25	+0% $-16	+5% $-57	+10% $-97
Rent	-10% $-119	-5% $-67	+0% $-16	+5% $35	+10% $86
Rate	-1.0pp $56	-0.5pp $21	base $-16	+0.5pp $-53	+1.0pp $-91

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: $35,975
• Closing costs: $4,317
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2245 Comanche St Unit A Corpus Christi, TX	3.0	1.0	1016	$1,350	$1.33	23d	1	0.63mi
2402 Segrest St Corpus Christi, TX	2.0	1.0	1120	$825	$0.74	23d	1	0.65mi
616 16th St Unit A Corpus Christi, TX	3.0	1.0	1040	$1,050	$1.01	45d	1	0.67mi
2522 Cleo St Corpus Christi, TX	3.0	1.0	992	$1,350	$1.36	15d	1	0.78mi
1107 14th St Corpus Christi, TX	4.0	1.5	1520	$1,300	$0.86	45d	1	0.83mi
110 Josephine St Corpus Christi, TX	3.0	2.0	1050	$2,000	$1.90	45d	1	1.03mi
801 S Alameda St Unit A Corpus Christi, TX	2.0	1.0	1760	$900	$0.51	45d	1	1.08mi
1525 S 19th St Unit B Corpus Christi, TX	3.0	2.0	1062	$2,100	$1.98	15d	1	1.08mi
2622 Cloyde St Corpus Christi, TX	2.0	1.0	1693	$1,150	$0.68	45d	1	1.16mi
3762 Up River Rd Corpus Christi, TX	1.0–2.0	1.0–2.0	855	$1,199	$1.40	15d	6	1.24mi
1628 18th St Corpus Christi, TX	2.0	1.0	1112	$1,000	$0.90	45d	1	1.24mi
826 Hancock Ave Unit 2 Corpus Christi, TX	2.0	1.0	1000	$950	$0.95	23d	1	1.30mi
813 Furman Ave Apt 1 Corpus Christi, TX	3.0	2.0	1430	$1,475	$1.03	15d	1	1.34mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	15d	1	1.34mi
1634 14th St Corpus Christi, TX	2.0	1.5	980	$1,090	$1.11	45d	1	1.35mi
1318 6th St Corpus Christi, TX	2.0	1.0	900	$900	$1.00	15d	1	1.41mi

Listing history 18 events

1. 2026-06-21
   days on market $143,900 Active 82 DOM
2. 2026-06-18
   days on market $143,900 Active 79 DOM
3. 2026-06-17
   days on market $143,900 Active 78 DOM
4. 2026-06-16
   days on market $143,900 Active 77 DOM
5. 2026-06-15
   days on market $143,900 Active 76 DOM
6. 2026-06-14
   days on market $143,900 Active 74 DOM
7. 2026-06-10
   days on market $143,900 Active 71 DOM
8. 2026-06-09
   days on market $143,900 Active 70 DOM
9. 2026-06-08
   days on market $143,900 Active 69 DOM
10. 2026-06-07
    days on market $143,900 Active 68 DOM
11. 2026-06-05
    days on market $143,900 Active 65 DOM
12. 2026-06-03
    days on market $143,900 Active 64 DOM
13. 2026-06-02
    days on market $143,900 Active 63 DOM
14. 2026-06-01
    days on market $143,900 Active 62 DOM
15. 2026-05-31
    days on market $143,900 Active 61 DOM
16. 2026-05-30
    days on market $143,900 Active 60 DOM
17. 2026-03-31
    listed $143,900 Active 867-char remark

    Show marketing remark (867 chars)

    A lovely 1,450 sqft 1960’s Craftsman Home for sale on a huge 10,500 sqft corner lot.   The home has 3 bedrooms, 2 newly remodeled bathrooms and floors, large kitchen with a breakfast area, open dinning/den area and living room.   The property has two vehicle driveway entrances that lead to a large covered car port area and a storage accessory building.     Huge yard area is perfect for playtime and sunbathing or for additional structures to be built for more revenue. Property is large enough for potential duplex with no zoning incumbrance. The home’s layout is also ideal for a small real estate, attorney, dentist, home occupation office or a non-profit providing services to the community due to its close proximity and visibility to Port Ave.   The property is 10 minutes from downtown , City Hall and the SEA District.

18. 2001-12-18
    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: $2,717 · $226/mo
• Projected year-2 tax: $2,717 · $226/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) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 24 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: $15,570
• − Mortgage interest: −$8,061
• − Property taxes: −$2,717
• − Insurance: −$720
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$4,186
• Taxable loss: −$2,605
• Est. tax savings @ 24.0%: +$625
• After-tax cash flow: $433/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): 14,602
• Household income: $38,294
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 867.0

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 48% Black 4% White 4%
• Hispanic origin (detail): Mexican 83%
• Foreign-born: 18% · Canada
• Languages at home: 52% English-only · Spanish 48%

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: ▲ 1.42%
• Current HPI: 113.2227
• Rent YoY: —
• 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

2 events — show timeline

• 2026-03-31 Listed $143,900 CBMLS
• 2001-12-18 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,717 · +12.0% YoY. Source: county tax records.