1011 S Alameda St · Corpus Christi, TX 78404

$99,500

4 bd · 3.0 ba · 2,205 sqft · SingleFamily public records · 692 Days on market

Built 1916 7,327 sqft lot $45/sqft · 73% below area

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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

Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

Key facts

• Electric meter
• Tri-plex
• Built 1916

Tags

• TRI-PLEX
• ELECTRIC METER

🏷️ Possibly a rental listed for sale. The $99,500 price doesn't fit this home's estimated sale value (~$368,414) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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); 141 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 33% 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 $688 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 692 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $66k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• 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 $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 692 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 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.70% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.63%
• DSCR: 1.87
• GRM: 4.9

CMA / ARV

• ARV (median comp): $368,414
• List price: $99,500
• Delta: -72.99%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1213 Ocean Dr	0.51mi	4/2.0	2,456 (+11%)	3mo	$895,000	$364	51
616 16th St	0.46mi	3/3.0 (-1)	2,464 (+12%)	14mo	$85,000	$34	42
402 Cole	0.72mi	3/2.0 (-1)	2,319 (+5%)	10mo	$190,000	$82	40
2002 Craig St	0.53mi	5/2.0 (+1)	1,890 (-14%)	23mo	$205,000	$108	23

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: 10.3%
• Equity multiple: 1.40×
• Total profit: $11,145
• Equity at exit: $14,836

10-year hold

• IRR: 18.3%
• Equity multiple: 2.44×
• Total profit: $40,039
• Equity at exit: $8,603

Cash invested: $27,860 (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: 141
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$522
• Tax from tax record: −$316 /mo · $3,797/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $456

Break-even live

Break-even rent $1,114

Max offer price $99,500

Occupancy floor 68%

Sensitivity live

Price	-10% $512	-5% $484	+0% $456	+5% $428	+10% $399
Rent	-10% $322	-5% $389	+0% $456	+5% $522	+10% $589
Rate	-1.0pp $506	-0.5pp $481	base $456	+0.5pp $430	+1.0pp $404

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 Furman Ave Apt 1 Corpus Christi, TX	3.0	2.0	1430	$1,475	$1.03	14d	1	0.25mi
1107 14th St Corpus Christi, TX	4.0	1.5	1520	$1,300	$0.86	44d	1	0.34mi
426 Palmero St Corpus Christi, TX	3.0	2.0	1720	$1,350	$0.78	44d	1	0.61mi
1802 16th St Unit B Corpus Christi, TX	3.0	1.0	1575	$1,000	$0.63	44d	1	0.90mi
417 Southern St Corpus Christi, TX	4.0	2.5	2028	$2,350	$1.16	44d	1	1.03mi
1722 Trenton Dr Corpus Christi, TX	4.0	2.0	1432	$2,100	$1.47	14d	1	1.28mi

Listing history 24 events

1. 2026-06-18
   days on market $99,500 Active 692 DOM
2. 2026-06-17
   days on market $99,500 Active 691 DOM
3. 2026-06-16
   days on market $99,500 Active 690 DOM
4. 2026-06-15
   days on market $99,500 Active 689 DOM
5. 2026-06-14
   days on market $99,500 Active 687 DOM
6. 2026-06-10
   days on market $99,500 Active 684 DOM
7. 2026-06-09
   days on market $99,500 Active 683 DOM
8. 2026-06-08
   days on market $99,500 Active 682 DOM
9. 2026-06-07
   days on market $99,500 Active 681 DOM
10. 2026-06-05
    days on market $99,500 Active 678 DOM
11. 2026-06-03
    days on market $99,500 Active 677 DOM
12. 2026-06-02
    days on market $99,500 Active 676 DOM
13. 2026-06-01
    days on market $99,500 Active 675 DOM
14. 2026-05-31
    days on market $99,500 Active 674 DOM
15. 2026-05-30
    days on market $99,500 Active 673 DOM
16. 2026-02-25
    price $102,500 257-char remark

    Show marketing remark (257 chars)

    Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

17. 2025-12-05
    price $114,500 257-char remark

    Show marketing remark (257 chars)

    Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

18. 2025-11-06
    price $119,500 257-char remark

    Show marketing remark (257 chars)

    Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

19. 2025-01-24
    price $145,000 257-char remark

    Show marketing remark (257 chars)

    Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

20. 2024-07-26
    listed $165,000 Active 257-char remark

    Show marketing remark (257 chars)

    Large Tri-Plex! Two one-bedroom units downstairs with a large two-bedroom unit upstairs. Unit #1 downstairs is leased at $750 per month. Each unit is on its own electric meter. Centrally located, with quick access to Downtown Corpus Christi and the highway!

21. 2012-08-03
    soldstatus
22. 2007-05-17
    soldstatus
23. 2006-04-01
    listed $89,000
24. 2000-12-01
    soldstatus

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,797 · $316/mo
• Projected year-2 tax: $3,797 · $316/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $20,285
• − Mortgage interest: −$5,574
• − Property taxes: −$3,797
• − Insurance: −$498
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$2,895
• Taxable income: $4,276
• Est. tax owed @ 24.0%: −$1,026
• After-tax cash flow: $4,442/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

+15.2% since first listed

9 events — show timeline

• 2026-02-25 Price Changed $102,500 CBMLS
• 2025-12-05 Price Changed $114,500 CBMLS
• 2025-11-06 Price Changed $119,500 CBMLS
• 2025-01-24 Price Changed $145,000 CBMLS
• 2024-07-26 Listed $165,000 CBMLS
• 2012-08-03 Sold (Public Records) — Public Records
• 2007-05-17 Sold (Public Records) — Public Records
• 2006-04-01 Listed $89,000 CBMLS
• 2000-12-01 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,797 · +9.8% YoY. Source: county tax records.