4637 Malek

Corpus Christi, TX 78380

$89,900B

4 bd · 1.0 ba · 2,060 sqft · Built 1940 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,787/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$375
• Net cashflow: $657/mo
• Annual: $7,888/yr
• Cap rate: 15.07%
• Cash-on-cash: 31.33%
• DSCR: 2.39
• 1% rule: 1.99%
• Cash to close: $25,172

Investor read

• This is a 4-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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.
• Robstown ISD (town): math 18% / reading 28% proficiency, ranked #757 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Robert Driscoll Jr Stem Academy (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 662 students, 91% FRL); Seale J H (math 16% / reading 29%, grade F, #1,341 of 1,662 statewide, top 82%, 521 students, 90% FRL); Robstown Early College H S (math 22% / reading 36%, grade F, #1,147 of 1,632 statewide, top 71%, 741 students, 90% FRL) — zoned schools average 90% FRL vs 71% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.3% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 194 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.1% 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.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.
• 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.
• 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.