16202 Fm 624 · Corpus Christi, TX 78380

$200,000

3 bd · 2.0 ba · 2,089 sqft · SingleFamily public records · 86 Days on market

Built 1980 0.78 ac lot $96/sqft · 40% below area Est $333k · 40% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.2/10.0
• DSCR +1.8/10.0

Listing remarks MLS

Prime opportunity on FM 624! This unique offering includes two adjoining corner lots being sold together, totaling approximately 1.49 acres (0.71 acres + 0.78 acres). Located at 16202/16214 FM 624, this high-visibility corner location offers excellent frontage and exposure along a well-traveled roadway, making it an attractive opportunity for investors, developers, or buyers seeking future commercial potential. While the property is currently zoned residential, the location along FM 624 presents strong possibilities for those looking to explore commercial or mixed-use opportunities (buyer to verify zoning and permitted uses with the appropriate authorities). The property does include a house that is in very rough condition, and the value is being placed primarily on the land and location. This is an excellent chance to secure a sizeable corner tract in a growing area with significant potential for redevelopment. Selling AS IS cash only.

Key facts

• Excellent frontage
• Growing area
• 0.78 acre lot

Tags

• EXCELLENT FRONTAGE
• SIZEABLE CORNER TRACT
• GROWING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (17.6% below list).
• Recommended offer: $159k (20.4% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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.

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.
• 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.
• Zoned schools: Calallen Wood River El (math 57% / reading 57%, grade C+, #505 of 4,322 statewide, top 13%, 479 students, 54% FRL); Calallen Middle (math 40% / reading 40%, grade F, #646 of 1,662 statewide, top 40%, 968 students, 53% FRL); Calallen H S (math 47% / reading 59%, grade C-, #437 of 1,632 statewide, top 27%, 1,180 students, 51% FRL).
• Market conditions: 194 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

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 86 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,169 (20.4% 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. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.82% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.95%
• DSCR: 0.78
• GRM: 10.1

CMA / ARV

• ARV (median comp): $333,241
• List price: $200,000
• Delta: -39.98%
• 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
4024 Ridge Trl	0.20mi	3/2.0	1,948 (-7%)	19mo	$258,000	$132	64
3962 Monta Dr	0.65mi	4/3.0 (+1)	2,024 (-3%)	7mo	$344,900	$170	50
4032 Saddle Trl	0.22mi	4/2.5 (+1)	2,296 (+10%)	23mo	$334,000	$145	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.16×
• Total profit: $-47,012
• Equity at exit: $29,821

10-year hold

• IRR: -20.0%
• Equity multiple: -0.06×
• Total profit: $-59,417
• Equity at exit: $17,292

Cash invested: $56,000 (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 78380

• Home prices YoY: -1.9%
• Active inventory: 194
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,647 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$400 /mo · $4,804/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-231

Break-even live

Break-even rent $1,940

Max offer price $159,169

Occupancy floor —

Sensitivity live

Price	-10% $-118	-5% $-175	+0% $-231	+5% $-288	+10% $-344
Rent	-10% $-361	-5% $-296	+0% $-231	+5% $-166	+10% $-101
Rate	-1.0pp $-130	-0.5pp $-180	base $-231	+0.5pp $-283	+1.0pp $-336

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-15
   statusdays on market $200,000 Pending 86 DOM
2. 2026-06-14
   days on market $200,000 Active 85 DOM
3. 2026-06-13
   days on market $200,000 Active 84 DOM
4. 2026-06-10
   days on market $200,000 Active 82 DOM
5. 2026-06-09
   days on market $200,000 Active 81 DOM
6. 2026-06-08
   days on market $200,000 Active 80 DOM
7. 2026-06-07
   days on market $200,000 Active 79 DOM
8. 2026-06-03
   pricedays on market $200,000 Active 75 DOM
9. 2026-06-02
   days on market $230,000 Active 74 DOM
10. 2026-06-01
    days on market $230,000 Active 73 DOM
11. 2026-05-31
    days on market $230,000 Active 72 DOM
12. 2026-05-30
    days on market $230,000 Active 71 DOM
13. 2026-03-20
    listed $230,000 Active 950-char remark

    Show marketing remark (950 chars)

    Prime opportunity on FM 624! This unique offering includes two adjoining corner lots being sold together, totaling approximately 1.49 acres (0.71 acres + 0.78 acres). Located at 16202/16214 FM 624, this high-visibility corner location offers excellent frontage and exposure along a well-traveled roadway, making it an attractive opportunity for investors, developers, or buyers seeking future commercial potential. While the property is currently zoned residential, the location along FM 624 presents strong possibilities for those looking to explore commercial or mixed-use opportunities (buyer to verify zoning and permitted uses with the appropriate authorities). The property does include a house that is in very rough condition, and the value is being placed primarily on the land and location. This is an excellent chance to secure a sizeable corner tract in a growing area with significant potential for redevelopment. Selling AS IS cash only.

ⓘ 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: $4,804 · $400/mo
• Projected year-2 tax: $4,804 · $400/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 21 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: $19,768
• − Mortgage interest: −$11,203
• − Property taxes: −$4,804
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$5,818
• Taxable loss: −$6,221
• Est. tax savings @ 24.0%: +$1,493
• After-tax cash flow: $-1,281/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: Calallen ISD
• NCES district ID: 4812420
• Math proficiency: 42% ▼ -15.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $73,780
• Composite: 39.25/100
• National rank: #4004
• State rank: #249 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

• City population: 296,836
• Population (ZIP): 23,752

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: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 38% White 23%
• Hispanic origin (detail): Mexican 71%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 47%

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: ▼ -5.51%
• Current HPI: 286.19
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-20 Listed $230,000 CBMLS

Property tax history

+2.2%/yr

Latest (2025): $4,804 · +19.4% YoY. Source: county tax records.