1545 Letty Ln · Corpus Christi, TX 78418

$284,400

5 bd · 2.5 ba · 1,892 sqft · SingleFamily · 14 Days on market

Built 2026 Good condition 4,755 sqft lot Est $378k · 25% under

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Why this score? — see what drove the C 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

A covered front porch welcomes you into the foyer, which opens to a spacious main living area. The open-concept layout seamlessly connects the gathering room, dining area, and kitchen, creating an inviting atmosphere for everyday living and entertaining. The kitchen features a large granite center island, pantry, quality cabinetry, stainless steel appliances, and ample granite countertop space. Conveniently located on the first floor is a powder room for guests, while all five bedrooms are situated upstairs for added privacy. The primary suite offers a spacious bedroom, an ensuite bathroom, and a large walk-in closet. Four additional bedrooms provide flexibility for a home office, hobby roo

Key facts

• Covered front porch
• Quality cabinetry
• Open concept layout

Tags

• COVERED FRONT PORCH
• OPEN CONCEPT LAYOUT
• GRANITE CENTER ISLAND
• QUALITY CABINETRY
• STAINLESS STEEL APPLIANCES
• AMPLE GRANITE COUNTERTOP SPACE

Property features AI

Exterior

• Parking: 2-car garage; Concrete driveway/parking
• Utilities: Public water; Public sewer; Utilities available
• Home design: 2-story house; Under construction
• Construction: HardiPlank exterior; Shingle roof; Slab foundation; Built recently / currently under construction
• Exterior features: Wood fencing

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan; Kitchen island
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $284k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (6.0% below list).
• Recommended offer: $267k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Market conditions: Rents soft (-0.6%/yr); 685 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 35% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $267,468 (6.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.94% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.22%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $378,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Clearview Dr	0.60mi	4/2.0 (-1)	1,837 (-3%)	18mo	$368,000	$200	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-44,484
• Equity at exit: $42,405

10-year hold

• IRR: -14.4%
• Equity multiple: 0.29×
• Total profit: $-56,762
• Equity at exit: $24,590

Cash invested: $79,632 (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 78418

• Rents YoY: -0.6%
• Active inventory: 685
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,675 medium
• Mortgage (P&I): −$1,491
• Tax est. 1.5%: −$356 /mo · $4,266/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $148

Break-even live

Break-even rent $2,488

Max offer price $284,400

Occupancy floor 89%

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: $71,100
• Closing costs: $8,532
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
557 Yorktown Blvd Corpus Christi, TX	3.0–5.0	2.0	1714	$2,337	$1.36	13d	1	1.35mi
538 Vega Dr Corpus Christi, TX	4.0	2.0	1539	$1,925	$1.25	43d	1	1.39mi

Listing history 11 events

1. 2026-06-18
   days on market $284,400 Active 14 DOM
2. 2026-06-17
   days on market $284,400 Active 13 DOM
3. 2026-06-16
   days on market $284,400 Active 12 DOM
4. 2026-06-15
   days on market $284,400 Active 11 DOM
5. 2026-06-14
   days on market $284,400 Active 9 DOM
6. 2026-06-13
   days on market $284,400 Active 8 DOM
7. 2026-06-10
   days on market $284,400 Active 6 DOM
8. 2026-06-09
   days on market $284,400 Active 5 DOM
9. 2026-06-08
   days on market $284,400 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $284,400 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,096
• − Mortgage interest: −$15,931
• − Property taxes: −$4,266
• − Insurance: −$1,422
• − Repairs & maintenance: −$2,568
• − Management: −$2,568
• − Depreciation: −$8,273
• Taxable loss: −$2,932
• Est. tax savings @ 24.0%: +$704
• After-tax cash flow: $2,474/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. Painting the interior walls would be a low-cost update that could significantly increase its value.

Value-add opportunities

• Both Paint the interior walls — Painting the interior walls can improve the home's curb appeal and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls — Painting the interior walls can improve the home's curb appeal and make it more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

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): 29,790
• Household income: $92,445
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 808.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 29% Two or more races 19% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 83% English-only · Spanish 14% Tagalog/Filipino 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: ▼ -168.81%
• Current HPI: 193.902
• Rent YoY: ▼ -0.57%
• 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

1 event — show timeline

• 2026-06-04 Listed $284,400 CBMLS