823 S Water St APT 6ACorpus ChristiTX78401
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play823 S Water St APT 6A, Corpus Christi, TX, 78401 in Corpus Christi is priced for appreciation, not yield. Rental yield 2.07%. At $645,000 with a 2.07% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $178,202 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.38) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $23,737.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.1% | 7.8% |
| Monthly Cash Flow | $(3,473) | $450 |
City averages based on Corpus Christi market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,114 |
| Total Monthly Debt Service | $4,330 |
| DSCR Ratio | 0.26x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1962
1,908 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 78401, Corpus Christi, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,066 (100%) |
| Owner Occupied HU | 320 (15.5%) |
| Renter Occupied HU | 1,244 (60.2%) |
| Vacant Housing Units | 502 (24.3%) |
| Median Home Value | $163,415 |
| Average Home Value | $278,161 |
Housing Distribution
Address Breakdown
Residential
1,762
Single Family
699
Multi-Family
1,063
Businesses
1,180
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1962
1,908 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 78401, Corpus Christi, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,066 (100%) |
| Owner Occupied HU | 320 (15.5%) |
| Renter Occupied HU | 1,244 (60.2%) |
| Vacant Housing Units | 502 (24.3%) |
| Median Home Value | $163,415 |
| Average Home Value | $278,161 |
Housing Distribution
Address Breakdown
Residential
1,762
Single Family
699
Multi-Family
1,063
Businesses
1,180
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Zoe Gottlich • Coldwell Banker Pacesetter Ste
Mls Name: South Texas MLS
Mls ID: #462832