3938 Surfside Blvd #2340 · Corpus Christi, TX 78402

$65,000

1 bd · 1.0 ba · 420 sqft · Townhouse public records · 146 Days on market

Built 1981 928 sqft lot $155/sqft · 45% below area Est $117k · 45% under $575/mo HOA · 49% of rent

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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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +4.5/30.0
• 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

Listing remarks MLS

The ultimate coastal investment! This fully furnished, turnkey condo is just steps from North Beach and perfectly positioned for short-term rental success. Located less than 5 minutes from the USS Lexington and the Texas State Aquarium and only 9 minutes from the popular Fifth & Elm entertainment venue in Portland, TX, this property puts guests right in the heart of everything the Coastal Bend has to offer. The complex is packed with amenities, including two swimming pools (one heated for year-round enjoyment), a waterfront common area, and gated beach access. Inside, the condo offers a smart, functional layout designed for comfort and efficiency. The light filled living area creates a warm, inviting space, while the private bedroom provides a relaxing retreat. The well appointed bathroom offers everyday comfort, and two built-in bunk beds allow you to comfortably accommodate additional guests, maximizing rental potential. Whether you’re looking for a low maintenance investment property or a personal beach getaway that pays for itself, this condo checks all the boxes. Schedule your showing today and start living or investing in the coastal lifestyle!

Key facts

• Two swimming pools
• Turnkey condo
• Gated beach access

Tags

• FULLY FURNISHED
• TURNKEY CONDO
• STEPS FROM NORTH BEACH
• WATERFRONT COMMON AREA
• GATED BEACH ACCESS
• TWO SWIMMING POOLS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $35k (45.4% below list).
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $35k (45.4% 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 $449 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 146 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $35,495 (45.4% 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 146 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: 1.80% ✓
• Cap rate: 3.21%
• Cash-on-cash: -11.01%
• DSCR: 0.51
• GRM: 4.6

CMA / ARV

• ARV (median comp): $117,255
• List price: $65,000
• Delta: -44.57%
• 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
3938 Surfside Blvd #3225	0.02mi	1/1.0	420 (0%)	1mo	$39,900	$95	98
3938 Surfside Blvd #3224	0.02mi	1/1.0	420 (0%)	1mo	$55,000	$131	98
3938 Surfside Blvd #2327	0.03mi	1/1.0	420 (0%)	1mo	$58,000	$138	98
3938 Surfside Blvd #3114	0.02mi	1/1.0	420 (0%)	2mo	$45,000	$107	97
3938 Surfside Blvd #2332	0.01mi	1/1.0	420 (0%)	2mo	$48,000	$114	97
3938 Surfside Blvd #1219	0.04mi	1/1.0	420 (0%)	1mo	$44,900	$107	97
3938 Surfside Blvd #1316	0.05mi	1/1.0	420 (0%)	1mo	$64,500	$154	97
3938 Surfside Blvd #3342	0.03mi	1/1.0	420 (0%)	2mo	$62,000	$148	97
3938 Surfside Blvd #1225	0.04mi	1/1.0	420 (0%)	2mo	$50,000	$119	97
3938 Surfside Blvd #1327	0.03mi	1/1.0	420 (0%)	2mo	$50,000	$119	96
3938 Surfside Blvd #1207	0.06mi	1/1.0	420 (0%)	2mo	$50,000	$119	95
3938 Surfside Blvd #2305	0.06mi	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: -35.1%
• Equity multiple: -0.14×
• Total profit: $-20,759
• Equity at exit: $9,692

10-year hold

• IRR: -40.2%
• Equity multiple: -0.65×
• Total profit: $-30,102
• Equity at exit: $5,620

Cash invested: $18,200 (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 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): −$341
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$27
• HOA: −$575
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-167

Break-even live

Break-even rent $1,380

Max offer price $35,495

Occupancy floor —

Sensitivity live

Price	-10% $-130	-5% $-149	+0% $-167	+5% $-185	+10% $-204
Rent	-10% $-259	-5% $-213	+0% $-167	+5% $-121	+10% $-75
Rate	-1.0pp $-134	-0.5pp $-150	base $-167	+0.5pp $-184	+1.0pp $-201

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 50 events

1. 2026-06-21
   days on market $65,000 Active 146 DOM
2. 2026-06-18
   days on market $65,000 Active 143 DOM
3. 2026-06-17
   days on market $65,000 Active 142 DOM
4. 2026-06-16
   days on market $65,000 Active 141 DOM
5. 2026-06-15
   days on market $65,000 Active 140 DOM
6. 2026-06-14
   days on market $65,000 Active 138 DOM
7. 2026-06-10
   days on market $65,000 Active 135 DOM
8. 2026-06-09
   days on market $65,000 Active 134 DOM
9. 2026-06-08
   days on market $65,000 Active 133 DOM
10. 2026-06-07
    days on market $65,000 Active 132 DOM
11. 2026-06-05
    days on market $65,000 Active 129 DOM
12. 2026-06-03
    days on market $65,000 Active 128 DOM
13. 2026-06-02
    days on market $65,000 Active 127 DOM
14. 2026-06-01
    days on market $65,000 Active 126 DOM
15. 2026-05-31
    days on market $65,000 Active 125 DOM
16. 2026-05-30
    days on market $65,000 Active 124 DOM
17. 2026-01-26
    listed $65,000 Active 1180-char remark

    Show marketing remark (1180 chars)

    The ultimate coastal investment! This fully furnished, turnkey condo is just steps from North Beach and perfectly positioned for short-term rental success. Located less than 5 minutes from the USS Lexington and the Texas State Aquarium and only 9 minutes from the popular Fifth & Elm entertainment venue in Portland, TX, this property puts guests right in the heart of everything the Coastal Bend has to offer. The complex is packed with amenities, including two swimming pools (one heated for year-round enjoyment), a waterfront common area, and gated beach access. Inside, the condo offers a smart, functional layout designed for comfort and efficiency. The light filled living area creates a warm, inviting space, while the private bedroom provides a relaxing retreat. The well appointed bathroom offers everyday comfort, and two built-in bunk beds allow you to comfortably accommodate additional guests, maximizing rental potential. Whether you’re looking for a low maintenance investment property or a personal beach getaway that pays for itself, this condo checks all the boxes. Schedule your showing today and start living or investing in the coastal lifestyle!

18. 2025-07-10
    price $69,900
19. 2025-05-02
    price $78,500
20. 2025-04-16
    listed $82,500 Active
21. 2024-08-14
    price $120,000
22. 2024-08-02
    price $129,500
23. 2024-05-01
    listed $135,000 Active
24. 2023-07-01
    status Active
25. 2023-07-01
    price $157,000
26. 2023-04-27
    historical
27. 2023-03-30
    price $169,500
28. 2023-01-31
    listed $180,000 Active
29. 2019-09-30
    historical
30. 2019-09-26
    soldstatus
31. 2019-09-25
    soldstatus Closed
32. 2019-09-07
    status Pending
33. 2019-08-30
    historical Option Period
34. 2019-06-25
    price $60,800
35. 2019-04-16
    listed $66,800 Active
36. 2019-01-07
    historical
37. 2018-08-03
    price $65,000
38. 2018-07-05
    price $68,800
39. 2018-06-20
    listed $68,888 Active
40. 2015-09-16
    historical
41. 2015-09-15
    soldstatus Closed
42. 2015-09-15
    soldstatus
43. 2015-08-29
    status Pending
44. 2015-08-15
    listed $49,000 Active
45. 2014-09-01
    listed $52,000
46. 2004-09-03
    soldstatus
47. 2004-09-02
    soldstatus
48. 2004-05-26
    listed $32,000
49. 2004-01-02
    soldstatus
50. 2002-03-18
    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: $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: −$3,641
• − Property taxes: −$1,771
• − Insurance: −$325
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$6,900
• − Depreciation: −$1,891
• Taxable loss: −$2,744
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $-1,346/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

+124.9% since first listed

36 events — show timeline

• 2026-01-26 Listed $65,000 CBMLS
• 2025-07-10 Price Changed $69,900 CBMLS
• 2025-05-02 Price Changed $78,500 CBMLS
• 2025-04-16 Listed $82,500 CBMLS
• 2024-08-14 Price Changed $120,000 CBMLS
• 2024-08-02 Price Changed $129,500 CBMLS
• 2024-05-01 Listed $135,000 CBMLS
• 2023-07-01 Relisted — CBMLS
• 2023-07-01 Price Changed $157,000 CBMLS
• 2023-04-27 Delisted — CBMLS
• 2023-03-30 Price Changed $169,500 CBMLS
• 2023-01-31 Listed $180,000 CBMLS
• 2019-09-30 Delisted — CBMLS
• 2019-09-26 Sold (Public Records) — Public Records
• 2019-09-25 Sold (MLS) — CBMLS
• 2019-09-07 Pending — CBMLS
• 2019-08-30 Contingent — CBMLS
• 2019-06-25 Price Changed $60,800 CBMLS
• 2019-04-16 Listed $66,800 CBMLS
• 2019-01-07 Delisted — CBMLS
• 2018-08-03 Price Changed $65,000 CBMLS
• 2018-07-05 Price Changed $68,800 CBMLS
• 2018-06-20 Listed $68,888 CBMLS
• 2015-09-16 Delisted — CBMLS
• 2015-09-15 Sold (Public Records) — Public Records
• 2015-09-15 Sold (MLS) — CBMLS
• 2015-08-29 Pending — CBMLS
• 2015-08-15 Listed $49,000 CBMLS
• 2014-09-01 Listed $52,000 CBMLS
• 2004-09-03 Sold (Public Records) — Public Records
• 2004-09-02 Sold (MLS) — CBMLS
• 2004-05-26 Listed $32,000 CBMLS
• 2004-01-02 Sold (Public Records) — Public Records
• 2002-03-18 Sold (MLS) — CBMLS
• 2001-11-27 Listed $29,900 CBMLS
• 2001-01-26 Listed $28,900 CBMLS

Property tax history

+6.6%/yr

Latest (2025): $1,771 · -38.0% YoY. Source: county tax records.