902 Hancock Ave · Corpus Christi, TX 78404

$89,900

5 bd · 2.5 ba · 2,508 sqft · SingleFamily public records · 121 Days on market

Built 1970 10,799 sqft lot $36/sqft · 75% below area

---

Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks with this spacious two-story fixer-upper sitting on a huge oversized lot. Featuring 5 bedrooms and 2.5 bathrooms, this property offers the size, layout, and flexibility that investors and vision-driven buyers are looking for. A newer roof has already been installed, giving you a solid head start on renovations. Out back, you’ll find a detached garage apartment, perfect for rental income, guest quarters, or a private workspace. With ample yard space and endless potential, this property is ready to be reimagined from top to bottom. Whether you’re looking to create your next investment project or transform it into a forever home, this one delivers the space and opportunity to make it happen. Bring your ideas and make it your own.

Key facts

• Two story
• Oversized lot
• Ample yard space

Tags

• TWO STORY
• DETACHED GARAGE APARTMENT
• NEW ROOF
• OVERSIZED LOT
• AMPLE YARD SPACE

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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: Rents rising (+1.9%/yr); 146 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.
• Current owner paid $75k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.24% ✓
• Cap rate: 19.24%
• Cash-on-cash: 46.24%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $353,563
• List price: $89,900
• Delta: -74.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1101 6th St	0.09mi	4/4.0 (-1)	2,560 (+2%)	10mo	$374,977	$146	73
1213 Ocean Dr	0.36mi	4/2.0 (-1)	2,456 (-2%)	3mo	$895,000	$364	70
1206 Coleman Ave	0.23mi	4/3.0 (-1)	2,880 (+15%)	12mo	$224,900	$78	47

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 · 1.87% rent growth · sell at horizon

5-year hold

• IRR: 42.2%
• Equity multiple: 2.79×
• Total profit: $44,975
• Equity at exit: $13,404

10-year hold

• IRR: 47.8%
• Equity multiple: 5.36×
• Total profit: $109,752
• Equity at exit: $7,773

Cash invested: $25,172 (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 78404

• Rents YoY: 1.9%
• Active inventory: 146
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,014 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $970

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,032	-5% $1,001	+0% $970	+5% $939	+10% $908
Rent	-10% $811	-5% $890	+0% $970	+5% $1,050	+10% $1,129
Rate	-1.0pp $1,015	-0.5pp $993	base $970	+0.5pp $947	+1.0pp $923

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 Southern St Corpus Christi, TX	4.0	2.5	2028	$2,350	$1.16	44d	1	1.03mi

Listing history 25 events

1. 2026-06-21
   days on market $89,900 Active 121 DOM
2. 2026-06-18
   days on market $89,900 Active 118 DOM
3. 2026-06-17
   days on market $89,900 Active 117 DOM
4. 2026-06-16
   days on market $89,900 Active 116 DOM
5. 2026-06-15
   days on market $89,900 Active 115 DOM
6. 2026-06-14
   days on market $89,900 Active 113 DOM
7. 2026-06-10
   days on market $89,900 Active 110 DOM
8. 2026-06-09
   days on market $89,900 Active 109 DOM
9. 2026-06-08
   days on market $89,900 Active 108 DOM
10. 2026-06-07
    days on market $89,900 Active 107 DOM
11. 2026-06-05
    days on market $89,900 Active 104 DOM
12. 2026-06-03
    days on market $89,900 Active 103 DOM
13. 2026-06-02
    days on market $89,900 Active 102 DOM
14. 2026-06-01
    days on market $89,900 Active 101 DOM
15. 2026-05-31
    days on market $89,900 Active 100 DOM
16. 2026-05-30
    days on market $89,900 Active 99 DOM
17. 2026-03-04
    status Active 767-char remark

    Show marketing remark (767 chars)

    Opportunity knocks with this spacious two-story fixer-upper sitting on a huge oversized lot. Featuring 5 bedrooms and 2.5 bathrooms, this property offers the size, layout, and flexibility that investors and vision-driven buyers are looking for. A newer roof has already been installed, giving you a solid head start on renovations. Out back, you’ll find a detached garage apartment, perfect for rental income, guest quarters, or a private workspace. With ample yard space and endless potential, this property is ready to be reimagined from top to bottom. Whether you’re looking to create your next investment project or transform it into a forever home, this one delivers the space and opportunity to make it happen. Bring your ideas and make it your own.

18. 2026-02-03
    status Pending 767-char remark

    Show marketing remark (767 chars)

    Opportunity knocks with this spacious two-story fixer-upper sitting on a huge oversized lot. Featuring 5 bedrooms and 2.5 bathrooms, this property offers the size, layout, and flexibility that investors and vision-driven buyers are looking for. A newer roof has already been installed, giving you a solid head start on renovations. Out back, you’ll find a detached garage apartment, perfect for rental income, guest quarters, or a private workspace. With ample yard space and endless potential, this property is ready to be reimagined from top to bottom. Whether you’re looking to create your next investment project or transform it into a forever home, this one delivers the space and opportunity to make it happen. Bring your ideas and make it your own.

19. 2026-01-22
    listed $89,900 Active 767-char remark

    Show marketing remark (767 chars)

    Opportunity knocks with this spacious two-story fixer-upper sitting on a huge oversized lot. Featuring 5 bedrooms and 2.5 bathrooms, this property offers the size, layout, and flexibility that investors and vision-driven buyers are looking for. A newer roof has already been installed, giving you a solid head start on renovations. Out back, you’ll find a detached garage apartment, perfect for rental income, guest quarters, or a private workspace. With ample yard space and endless potential, this property is ready to be reimagined from top to bottom. Whether you’re looking to create your next investment project or transform it into a forever home, this one delivers the space and opportunity to make it happen. Bring your ideas and make it your own.

20. 2025-03-18
    listed $150,000 Active
21. 2020-09-02
    historical
22. 2020-04-21
    price $170,000
23. 2020-03-05
    price $180,000
24. 2020-02-26
    listed $180 Active
25. 2001-07-20
    soldstatus $75,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $24,171
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$2,615
• Taxable income: $10,854
• Est. tax owed @ 24.0%: −$2,605
• After-tax cash flow: $9,035/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): 12,635
• Household income: $61,280
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 596.0

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 Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% White 32% Two or more races 29% Black 4%
• Hispanic origin (detail): Mexican 56%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▼ -211.10%
• Current HPI: 177.4759
• Rent YoY: ▲ 1.87%
• 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

+19.9% since first listed

9 events — show timeline

• 2026-03-04 Relisted — CBMLS
• 2026-02-03 Pending — CBMLS
• 2026-01-22 Listed $89,900 CBMLS
• 2025-03-18 Listed $150,000 CBMLS
• 2020-09-02 Delisted — CBMLS
• 2020-04-21 Price Changed $170,000 CBMLS
• 2020-03-05 Price Changed $180,000 CBMLS
• 2020-02-26 Listed $180 CBMLS
• 2001-07-20 Sold (Public Records) $75,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $5,891 · +58.1% YoY. Source: county tax records.