2613 Halsey St · Corpus Christi, TX 78405

$45,000

2 bd · 1.0 ba · 414 sqft · SingleFamily public records · 101 Days on market

Built 1955 4,007 sqft lot $109/sqft · 21% below area Est $57k · 21% under ↓ 33% since listing

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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 +5.7/10.0
• 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

Prime investor opportunity! Single family home in Corpus Christi is a fantastic value-add property ready for rehab. Unlock its potential to create instant equity—perfect for a flip or rental investment. Located in Central City, you’re just minutes from the Port of Corpus Christi, downtown, and major highways, offering unbeatable access and convenience. Sold as-is.

Key facts

• Value-add property
• Unbeatable access
• Investor opportunity

Tags

• INVESTOR OPPORTUNITY
• VALUE-ADD PROPERTY
• CENTRAL CITY
• PORT OF CORPUS CHRISTI
• UNBEATABLE ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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: 74 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 $950 of equity ($311 loan paydown + $639 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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 $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. 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: 1.92% ✓
• Cap rate: 15.10%
• Cash-on-cash: 31.45%
• DSCR: 2.40
• GRM: 4.3

CMA / ARV

• ARV (median comp): $57,254
• List price: $45,000
• Delta: -12.67%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.6%
• Equity multiple: 2.81×
• Total profit: $22,846
• Equity at exit: $16,355

10-year hold

• IRR: 36.4%
• Equity multiple: 5.50×
• Total profit: $56,753
• Equity at exit: $22,524

Cash invested: $12,600 (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: 74
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $864 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$98 /mo · $1,170/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $330

Break-even live

Break-even rent $446

Max offer price $45,000

Occupancy floor 57%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3115 Agnes St Corpus Christi, TX	2.0	1.0	428	$828	$1.93	43d	3	1.14mi

Listing history 20 events

1. 2026-06-19
   price $45,000 Active 101 DOM
2. 2026-06-18
   days on market $50,000 Active 101 DOM
3. 2026-06-17
   days on market $50,000 Active 100 DOM
4. 2026-06-16
   days on market $50,000 Active 99 DOM
5. 2026-06-15
   days on market $50,000 Active 98 DOM
6. 2026-06-14
   days on market $50,000 Active 96 DOM
7. 2026-06-10
   days on market $50,000 Active 93 DOM
8. 2026-06-09
   days on market $50,000 Active 92 DOM
9. 2026-06-08
   days on market $50,000 Active 91 DOM
10. 2026-06-07
    days on market $50,000 Active 90 DOM
11. 2026-06-05
    days on market $50,000 Active 87 DOM
12. 2026-06-03
    days on market $50,000 Active 86 DOM
13. 2026-06-02
    days on market $50,000 Active 85 DOM
14. 2026-06-01
    days on market $50,000 Active 84 DOM
15. 2026-05-31
    days on market $50,000 Active 83 DOM
16. 2026-05-30
    days on market $50,000 Active 82 DOM
17. 2026-05-05
    price $50,000 384-char remark

    Show marketing remark (384 chars)

    Prime investor opportunity! Single family home in Corpus Christi is a fantastic value-add property ready for rehab. Unlock its potential to create instant equity—perfect for a flip or rental investment. Located in Central City, you’re just minutes from the Port of Corpus Christi, downtown, and major highways, offering unbeatable access and convenience. Sold as-is.

18. 2026-04-05
    price $55,000 384-char remark

    Show marketing remark (384 chars)

    Prime investor opportunity! Single family home in Corpus Christi is a fantastic value-add property ready for rehab. Unlock its potential to create instant equity—perfect for a flip or rental investment. Located in Central City, you’re just minutes from the Port of Corpus Christi, downtown, and major highways, offering unbeatable access and convenience. Sold as-is.

19. 2026-03-24
    price $65,000 384-char remark

    Show marketing remark (384 chars)

    Prime investor opportunity! Single family home in Corpus Christi is a fantastic value-add property ready for rehab. Unlock its potential to create instant equity—perfect for a flip or rental investment. Located in Central City, you’re just minutes from the Port of Corpus Christi, downtown, and major highways, offering unbeatable access and convenience. Sold as-is.

20. 2026-03-09
    listed $75,000 Active 384-char remark

    Show marketing remark (384 chars)

    Prime investor opportunity! Single family home in Corpus Christi is a fantastic value-add property ready for rehab. Unlock its potential to create instant equity—perfect for a flip or rental investment. Located in Central City, you’re just minutes from the Port of Corpus Christi, downtown, and major highways, offering unbeatable access and convenience. Sold as-is.

ⓘ 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: $1,170 · $98/mo
• Projected year-2 tax: $1,170 · $98/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 4/10 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: $10,367
• − Mortgage interest: −$2,521
• − Property taxes: −$1,170
• − Insurance: −$225
• − Repairs & maintenance: −$829
• − Management: −$829
• − Depreciation: −$1,309
• Taxable income: $3,483
• Est. tax owed @ 24.0%: −$836
• After-tax cash flow: $3,127/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

-33.3% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $50,000 MCALLENMLS
• 2026-04-05 Price Changed $55,000 MCALLENMLS
• 2026-03-24 Price Changed $65,000 MCALLENMLS
• 2026-03-09 Listed $75,000 MCALLENMLS

Property tax history

+4.7%/yr

Latest (2025): $1,170 · -10.3% YoY. Source: county tax records.