4249 Clear Frk

Corpus Christi, TX 78410

$269,900D+

4 bd · 2.0 ba · 2,274 sqft · Built 1983 · SingleFamily · Pending · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,567/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$651
• HOA: −$42
• Vac / Maint / Mgmt: −$539
• Net cashflow: $-80/mo
• Annual: $-963/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• 1% rule: 0.95%
• Cash to close: $75,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-80 ($-963/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (4.9% below list).
• It's been on market 100 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• Calallen ISD (urban): math 42% / reading 44% proficiency, ranked #249 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.0%/yr); 316 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $270k implies a 296% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% 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.
• This rent runs 39% of the median local income ($79k/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 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.