7846 Thor Dr · Corpus Christi, TX 78414

$319,999

4 bd · 3.0 ba · 2,015 sqft · Land · 20 Days on market

Built 2026 4,791 sqft lot

---

Why this score? — see what drove the F 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 +9.1/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Luxe owner's suite
• Walk-in closet
• Covered patio

Tags

• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• LUXE OWNER'S SUITE
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $320k.

Deal economics

• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (22.3% below list).
• Recommended offer: $248k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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.
• Zoned schools: Kolda El (math 51% / reading 59%, grade C, #602 of 4,322 statewide, top 14%, 879 students, 36% FRL); Adkins Middle (math 40% / reading 39%, grade F, #660 of 1,662 statewide, top 41%, 956 students, 48% FRL); Veterans Memorial H S (math 50% / reading 57%, grade C-, #428 of 1,632 statewide, top 27%, 1,949 students, 36% FRL) — zoned schools average 40% FRL vs 63% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 49% at this address vs 33% district-wide (+16 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: Rents rising (+1.9%/yr); 623 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 30% of the median local income ($99k/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 $10k 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 20 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Recommended offer $248,480 (22.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.22×
• Total profit: $-70,263
• Equity at exit: $47,713

10-year hold

• IRR: -20.5%
• Equity multiple: -0.03×
• Total profit: $-91,941
• Equity at exit: $27,668

Cash invested: $89,600 (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 78414

• Home prices YoY: -18.1%
• Rents YoY: 1.9%
• Active inventory: 623
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,485 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-248

Break-even live

Break-even rent $2,799

Max offer price $284,048

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-138	+0% $-248	+5% $-359	+10% $-470
Rent	-10% $-445	-5% $-347	+0% $-248	+5% $-150	+10% $-52
Rate	-1.0pp $-87	-0.5pp $-167	base $-248	+0.5pp $-331	+1.0pp $-416

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7926 Doctor Strange Dr Corpus Christi, TX	4.0	3.0	2196	$2,400	$1.09	23d	1	0.10mi
7925 Wonder Woman Dr Corpus Christi, TX	4.0	3.0	1910	$2,400	$1.26	15d	1	0.13mi
7710 Thor Dr Corpus Christi, TX	4.0	2.5	1900	$2,395	$1.26	15d	1	0.18mi
7705 Wonder Woman Dr Corpus Christi, TX	3.0	2.0	1663	$2,000	$1.20	15d	1	0.21mi
7702 Spiderman Dr Corpus Christi, TX	4.0	2.0	1639	$2,400	$1.46	23d	1	0.27mi
7702 Hulk Dr Corpus Christi, TX	4.0	3.0	2373	$4,000	$1.69	45d	1	0.31mi
7713 Lariat Toss Dr Corpus Christi, TX	3.0	2.0	1518	$2,300	$1.52	45d	1	0.52mi
7610 Rustler Ln Corpus Christi, TX	3.0	2.0	1584	$2,150	$1.36	23d	1	0.61mi
7822 Fort Griffen Dr Corpus Christi, TX	3.0	2.0	1618	$2,100	$1.30	15d	1	0.71mi
7230 Tristan Dr Corpus Christi, TX	4.0	2.0	1838	$2,395	$1.30	45d	1	0.73mi
7230 Bryson Way Corpus Christi, TX	4.0	2.0	1884	$2,500	$1.33	45d	1	0.76mi
8218 Merlin Pl Corpus Christi, TX	4.0	2.0	2088	$2,300	$1.10	15d	1	1.14mi
3810 Los Arroyos Dr Corpus Christi, TX	3.0	2.0	1578	$2,300	$1.46	23d	1	1.21mi
6865 La Salle Dr Corpus Christi, TX	4.0	2.0	2186	$3,000	$1.37	45d	1	1.24mi
7710 Bison Dr Corpus Christi, TX	4.0	2.5	2298	$3,000	$1.31	23d	1	1.34mi
6802 Crosswinds Dr Corpus Christi, TX	4.0	3.0	2374	$3,150	$1.33	45d	1	1.38mi
3617 Garnet Ct Corpus Christi, TX	4.0	2.0	1758	$2,125	$1.21	45d	1	1.41mi
3614 Sapphire Ct Corpus Christi, TX	4.0	2.5	1998	$2,195	$1.10	15d	1	1.44mi
8226 Excalibur Rd Corpus Christi, TX	3.0	2.0	1792	$2,250	$1.26	15d	1	1.46mi
8314 Excalibur Rd Corpus Christi, TX	4.0	2.0	2047	$2,600	$1.27	15d	1	1.50mi

Listing history 8 events

1. 2026-04-09
   status Pending
2. 2026-04-07
   price $319,999
3. 2026-04-03
   price $317,999
4. 2026-04-02
   price $318,999
5. 2026-03-28
   price $317,999
6. 2026-03-25
   price $319,999
7. 2026-03-24
   price $313,999
8. 2026-03-20
   listed $312,999 New

ⓘ 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: $29,818
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,385
• − Management: −$2,385
• − Depreciation: −$9,309
• Taxable loss: −$8,587
• Est. tax savings @ 24.0%: +$2,061
• After-tax cash flow: $-920/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): 54,263
• Household income: $98,771
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 1167.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 33% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 46% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 24% Other Indo-European 2% Chinese 1%

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: ▼ -40.16%
• Current HPI: 182.3229
• Rent YoY: ▲ 1.94%
• 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

+2.2% since first listed

8 events — show timeline

• 2026-04-09 Pending — LERA
• 2026-04-07 Price Changed $319,999 LERA
• 2026-04-03 Price Changed $317,999 LERA
• 2026-04-02 Price Changed $318,999 LERA
• 2026-03-28 Price Changed $317,999 LERA
• 2026-03-25 Price Changed $319,999 LERA
• 2026-03-24 Price Changed $313,999 LERA
• 2026-03-20 Listed $312,999 LERA