5802 Limerick Dr · Corpus Christi, TX 78413

$199,900

4 bd · 2.0 ba · 1,901 sqft · SingleFamily public records · 70 Days on market

Built 1961 9,596 sqft lot $105/sqft · 19% below area Est $245k · 19% 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 +15.4/30.0
• ARV discount +15.0/15.0
• 1% rule +4.9/10.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious 4-bedroom, 2-bath home located in the established Schanen Estates neighborhood. Situated on a large corner lot, this property offers extra yard space, added privacy, and great curb appeal. Inside, you’ll find a comfortable layout with generous living areas and plenty of natural light. The home features four well-sized bedrooms and two full bathrooms. Step outside and enjoy the screened-in porch, perfect for relaxing, entertaining, or enjoying the outdoors without the bugs. Located in a quiet, established neighborhood, this home offers a great balance of space, comfort, and convenience with easy access to local shopping, dining, and schools. Book your showing t

Key facts

• Screened-in porch
• Extra yard space
• Corner lot

Tags

• CORNER LOT
• SCREENED-IN PORCH
• EXTRA YARD SPACE
• ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $78 ($938/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 $198k (0.9% below list).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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 falling (-4.5%/yr); 220 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 41% 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 ($73k/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 $1k of loan paydown is wiped out by about $6k 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 70 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask is 11323% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $52k; list at $200k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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: 0.99% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 8.4

CMA / ARV

• ARV (median comp): $245,385
• List price: $199,900
• Delta: -18.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4725 Shea Pkwy	0.18mi	3/2.0 (-1)	1,979 (+4%)	4mo	$259,000	$131	77
4633 Haverhill	0.15mi	4/3.0	2,000 (+5%)	11mo	$254,999	$127	72
5014 Bromley Dr	0.42mi	4/3.0	2,060 (+8%)	1mo	$260,000	$126	62
5306 Crestwick Dr	0.72mi	3/2.0 (-1)	1,896 (-0%)	6mo	$270,000	$142	56
5301 Bromley Dr	0.70mi	4/2.0	1,994 (+5%)	8mo	$255,000	$128	52
4721 Gayle Dr	0.33mi	3/2.0 (-1)	1,666 (-12%)	9mo	$189,900	$114	52
4705 Donegal Dr	0.39mi	4/2.0	1,633 (-14%)	10mo	$234,000	$143	50
5413 Flynn Pkwy	0.60mi	4/2.0	1,647 (-13%)	4mo	$245,000	$149	46
5351 Flynn Pkwy	0.65mi	4/2.0	1,674 (-12%)	10mo	$218,000	$130	42
5801 Saint Andrews Dr	0.54mi	3/2.0 (-1)	2,151 (+13%)	10mo	$265,000	$123	39
4170 Monaco St	0.69mi	5/3.0 (+1)	2,137 (+12%)	6mo	$304,900	$143	33
4338 Murphey Dr	0.72mi	3/2.0 (-1)	1,634 (-14%)	10mo	$249,900	$153	30

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: -17.3%
• Equity multiple: 0.41×
• Total profit: $-33,125
• Equity at exit: $29,806

10-year hold

• IRR: -16.8%
• Equity multiple: 0.21×
• Total profit: $-44,492
• Equity at exit: $17,284

Cash invested: $55,972 (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 78413

• Rents YoY: -4.5%
• Active inventory: 220
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,982 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$356 /mo · $4,271/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $78

Break-even live

Break-even rent $1,883

Max offer price $199,900

Occupancy floor 91%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4717 S Shea Pkwy Corpus Christi, TX	3.0	2.0	1284	$1,695	$1.32	44d	1	0.20mi
4610 Donegal Dr Corpus Christi, TX	4.0	2.0	2162	$2,150	$0.99	13d	1	0.41mi
4438 Donegal Dr Corpus Christi, TX	3.0	2.0	1628	$1,900	$1.17	13d	1	0.42mi
4406 Donegal Dr Corpus Christi, TX	3.0	2.0	1338	$1,800	$1.35	13d	1	0.45mi
5025 Romford Dr Corpus Christi, TX	4.0	3.5	2471	$3,195	$1.29	13d	1	0.47mi
4402 Sutton Ln Corpus Christi, TX	4.0	2.0	1850	$2,100	$1.14	13d	1	0.48mi
5122 Moultrie Dr Corpus Christi, TX	4.0	2.0	2303	$2,620	$1.14	13d	1	0.71mi
4114 Cork Dr Corpus Christi, TX	3.0	2.0	1296	$1,595	$1.23	13d	1	0.77mi
4117 Monaco Dr Corpus Christi, TX	5.0	2.0	1483	$2,100	$1.42	13d	1	0.81mi
97 Lake Shore Dr Corpus Christi, TX	3.0	2.5	2030	$1,895	$0.93	43d	1	0.83mi
4013 Kingston Dr Corpus Christi, TX	3.0	2.0	1451	$2,500	$1.72	43d	1	0.90mi
4006 Panama Dr Corpus Christi, TX	3.0	2.0	1816	$1,949	$1.07	21d	1	0.96mi
4009 Donaho Dr Corpus Christi, TX	3.0	2.0	2187	$2,400	$1.10	43d	1	1.01mi
4937 Holmes Dr Corpus Christi, TX	4.0	2.5	2442	$2,595	$1.06	13d	1	1.07mi
4830 French Dr Corpus Christi, TX	3.0	2.0	1299	$1,700	$1.31	13d	1	1.18mi
5430 Saratoga Blvd Corpus Christi, TX	1.0–3.0	1.0–2.5	1050	$1,764	$1.68	43d	45	1.18mi
5133 Middlecoff Cir Unit B Corpus Christi, TX	3.0	2.5	1360	$1,650	$1.21	43d	1	1.19mi
4801 Lansdown Dr Corpus Christi, TX	3.0	2.0	1242	$1,525	$1.23	13d	1	1.22mi
4809 Goldeneye Dr Corpus Christi, TX	3.0	2.0	1885	$1,995	$1.06	13d	1	1.28mi
4205 Walnut Hills Dr Unit B Corpus Christi, TX	3.0	2.5	2600	$1,895	$0.73	43d	1	1.33mi
3802 Saratoga Blvd Corpus Christi, TX	1.0–3.0	1.0–2.0	1258	$2,319	$1.84	13d	1	1.35mi
6210 Brewton Dr Corpus Christi, TX	3.0	2.0	1618	$1,900	$1.17	44d	1	1.36mi
4717 Edith St Unit 1268436P Corpus Christi, TX	4.0	2.0	1496	$4,708	$3.15	43d	1	1.37mi
4154 Eagle Dr Corpus Christi, TX	3.0	2.0	1843	$1,950	$1.06	43d	1	1.39mi
5002 Bevly Dr Unit A Corpus Christi, TX	3.0	2.0	1400	$1,499	$1.07	21d	1	1.42mi
1066 Burkshire Dr Corpus Christi, TX	3.0	2.0	2063	$1,900	$0.92	44d	1	1.45mi
1137 Bradshaw Dr Corpus Christi, TX	3.0	2.0	1424	$1,900	$1.33	13d	1	1.48mi

Listing history 13 events

1. 2025-02-17
   historical $1,750
2. 2025-01-22
   listed $1,750
3. 2024-09-26
   price $229,900
4. 2024-05-25
   status Active
5. 2024-04-13
   status Pending
6. 2024-04-03
   historical Active Under Contract
7. 2024-03-27
   listed $239,900 Active
8. 2022-12-16
   historical
9. 2022-10-13
   status Active
10. 2022-09-21
    historical
11. 2022-08-25
    price $239,900
12. 2022-08-01
    listed $250,000 Active
13. 1994-01-18
    soldstatus $51,900

ⓘ 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: $4,271 · $356/mo
• Projected year-2 tax: $4,271 · $356/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 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: $23,783
• − Mortgage interest: −$11,198
• − Property taxes: −$4,271
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − Depreciation: −$5,815
• Taxable loss: −$2,306
• Est. tax savings @ 24.0%: +$553
• After-tax cash flow: $1,492/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): 34,289
• Household income: $72,815
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 1280.0

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 (60%)
• Race & ethnicity: Hispanic / Latino 60% White 31% Two or more races 29% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Serbian 1% Slovak 1%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 74% English-only · Spanish 22% Tagalog/Filipino 1% Other Indo-European 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: ▼ -215.69%
• Current HPI: 173.8376
• Rent YoY: ▼ -4.46%
• 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

-96.6% since first listed

13 events — show timeline

• 2025-02-17 Rental Removed $1,750 APPFOLIO
• 2025-01-22 Listed for Rent $1,750 APPFOLIO
• 2024-09-26 Price Changed $229,900 CBMLS
• 2024-05-25 Relisted — CBMLS
• 2024-04-13 Pending — CBMLS
• 2024-04-03 Contingent — CBMLS
• 2024-03-27 Listed $239,900 CBMLS
• 2022-12-16 Rental Removed — RENT.
• 2022-10-13 Relisted — CBMLS
• 2022-09-21 Delisted — CBMLS
• 2022-08-25 Price Changed $239,900 CBMLS
• 2022-08-01 Listed $250,000 CBMLS
• 1994-01-18 Sold (Public Records) $51,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $4,271 · +6.1% YoY. Source: county tax records.