14422 Verdemar Dr #302

Corpus Christi, TX 78418

$229,080D

3 bd · 3.0 ba · 1,694 sqft · Built 2006 · Townhouse · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,422/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$700
• HOA: −$468
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-455/mo
• Annual: $-5,465/yr
• Cap rate: 4.26%
• Cash-on-cash: -7.28%
• DSCR: 0.68
• 1% rule: 1.06%
• Cash to close: $64,142

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $229k.
• At list price, monthly cash flow is $-455 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (35.1% below list).
• Meets the 1% rule at list price ($2k rent vs $229k).
• It's been on market 46 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (35.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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.
• Flour Bluff ISD (urban): math 43% / reading 51% proficiency, ranked #209 of 826 in TX (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Flour Bluff El (math 40% / reading 42%, grade F, #1,462 of 4,322 statewide, top 34%, 759 students, 53% FRL).
• Watch-outs: property tax is 2.8% of price; flood insurance adds $66/mo.
• Market conditions: Rents soft (-0.6%/yr); 685 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?