2844 Prescott St · Corpus Christi, TX 78404

$85,000

2 bd · 1.0 ba · 576 sqft · SingleFamily public records · 31 Days on market

Built 1944 6,098 sqft lot Est $61k · 39% over

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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).

• Cash flow +21.8/30.0
• 1% rule +7.8/10.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL! – Duplex with Value-Add Potential. Great opportunity for investors looking for a value-add property with multiple exit strategies. This duplex needs updating and repairs but strong value add potential. Each unit has the potential to rent for approximately $1,200/month after renovations, creating a solid income-producing asset. Property could also be converted into a spacious 4-bedroom, 2-bath single-home depending on your investment goals.

Key facts

• 6,098 sq ft lot
• Built 1944
• Listed 30 days

Property features AI

Finance

• Other: Interior lot

Exterior

• Home design: Single-story home
• Construction: Wood siding; Shingle roof; Pillar/post/pier and slab foundation
• Exterior features: Open patio

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Hardwood flooring; No additional interior features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Zoned schools: Windsor Park G/T (math 85% / reading 90%, grade A+, #6 of 4,322 statewide, top 0%, 609 students, 29% FRL); Adkins Middle (math 40% / reading 39%, grade F, #660 of 1,662 statewide, top 41%, 956 students, 48% FRL); Ray H S (math 49% / reading 47%, grade D, #571 of 1,632 statewide, top 36%, 1,640 students, 69% FRL).
• Zoned-school proficiency averages 58% at this address vs 33% district-wide (+25 pts) — the actual schools serving this property are materially stronger than the Corpus Christi ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 146 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $85k implies a 409% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1944 — 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 $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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. 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: 1.28% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $61,056
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2534 Tarlton St	0.43mi	2/1.0	595 (+3%)	14mo	$60,000	$101	63
3237 Eisenhower St	0.68mi	2/1.0	611 (+6%)	4mo	$65,000	$106	55
2750 Nogales St	0.72mi	2/1.0	660 (+15%)	19mo	$109,900	$167	26

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-6,426
• Equity at exit: $12,674

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $812
• Equity at exit: $7,349

Cash invested: $23,800 (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: 146
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$446
• Tax from tax record: −$248 /mo · $2,974/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $133

Break-even live

Break-even rent $923

Max offer price $85,000

Occupancy floor 83%

Sensitivity live

Price	-10% $181	-5% $157	+0% $133	+5% $109	+10% $85
Rent	-10% $47	-5% $90	+0% $133	+5% $176	+10% $219
Rate	-1.0pp $176	-0.5pp $155	base $133	+0.5pp $111	+1.0pp $89

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3150 Elgin St Corpus Christi, TX	2.0	1.0	616	$925	$1.50	45d	1	0.70mi
1808 Morgan Ave Corpus Christi, TX	1.0	1.0	667	$975	$1.46	45d	1	0.83mi
1802 Morgan Ave Unit 1804 Corpus Christi, TX	1.0	1.0	667	$695	$1.04	45d	1	0.83mi
1114 25th St Corpus Christi, TX	1.0–2.0	1.0	712	$1,050	$1.47	15d	6	0.86mi
1800 S Staples St Corpus Christi, TX	1.0	1.0	585	$1,015	$1.74	45d	1	0.90mi
815 Ohio Ave Unit 3 Corpus Christi, TX	2.0	1.0	748	$985	$1.32	45d	1	0.97mi
637 Mohawk St Unit MA4 Corpus Christi, TX	1.0	1.0	500	$630	$1.26	45d	1	0.99mi
801 18th St Corpus Christi, TX	1.0	1.0	600	$895	$1.49	22d	1	1.09mi
2937 Ruth St Corpus Christi, TX	2.0	1.0	676	$950	$1.41	45d	1	1.10mi
1124 Morgan Ave Unit 1268437P Corpus Christi, TX	2.0	1.0	721	$2,081	$2.89	45d	1	1.11mi
510 Cheyenne St Corpus Christi, TX	1.0	1.0	420	$699	$1.66	45d	1	1.12mi
1112 Morgan Ave Unit 1268432P Corpus Christi, TX	1.0	1.0	656	$1,632	$2.49	45d	1	1.12mi
1116 Morgan Ave Unit 1268424P Corpus Christi, TX	1.0	1.0	656	$1,454	$2.22	45d	1	1.13mi
1116 Morgan Ave Unit 1268439P Corpus Christi, TX	1.0	1.0	656	$1,743	$2.66	45d	1	1.13mi
1402 Devon Dr Corpus Christi, TX	1.0	1.0	540	$795	$1.47	15d	1	1.29mi
821 S Alameda St Unit 1 Corpus Christi, TX	1.0	1.0	480	$970	$2.02	45d	1	1.31mi
1005 Furman Ave #2 Corpus Christi, TX	1.0	1.0	480	$995	$2.07	45d	1	1.39mi
826 Hancock Ave Unit 1 Corpus Christi, TX	1.0	1.0	700	$850	$1.21	22d	1	1.41mi
826 Hancock Ave Unit 3 Corpus Christi, TX	1.0	1.0	700	$800	$1.14	22d	1	1.41mi
3115 Agnes St Corpus Christi, TX	2.0	1.0	428	$828	$1.93	45d	3	1.41mi
901 Furman Ave Unit F Corpus Christi, TX	1.0	1.0	560	$700	$1.25	45d	1	1.43mi
901 Furman Ave Unit B Corpus Christi, TX	1.0	1.0	659	$750	$1.14	22d	1	1.43mi
901 Furman Ave Unit D Corpus Christi, TX	1.0	1.0	521	$850	$1.63	45d	1	1.43mi

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active 31 DOM
2. 2026-06-18
   days on market $85,000 Active 28 DOM
3. 2026-06-17
   days on market $85,000 Active 27 DOM
4. 2026-06-16
   days on market $85,000 Active 26 DOM
5. 2026-06-15
   days on market $85,000 Active 25 DOM
6. 2026-06-14
   days on market $85,000 Active 23 DOM
7. 2026-06-10
   days on market $85,000 Active 20 DOM
8. 2026-06-09
   days on market $85,000 Active 19 DOM
9. 2026-06-08
   days on market $85,000 Active 18 DOM
10. 2026-06-07
    days on market $85,000 Active 17 DOM
11. 2026-06-05
    days on market $85,000 Active 14 DOM
12. 2026-06-03
    days on market $85,000 Active 13 DOM
13. 2026-06-02
    days on market $85,000 Active 12 DOM
14. 2026-06-01
    days on market $85,000 Active 11 DOM
15. 2026-05-31
    days on market $85,000 Active 10 DOM
16. 2026-05-30
    days on market $85,000 Active 9 DOM
17. 2026-05-21
    listed $85,000 Active
18. 2015-03-27
    soldstatus
19. 2006-05-03
    soldstatus
20. 1989-05-09
    soldstatus $16,700

ⓘ 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: $2,974 · $248/mo
• Projected year-2 tax: $2,974 · $248/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: $13,094
• − Mortgage interest: −$4,761
• − Property taxes: −$2,974
• − Insurance: −$425
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,473
• Taxable income: $366
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $1,508/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

+409.0% since first listed

4 events — show timeline

• 2026-05-21 Listed $85,000 CBMLS
• 2015-03-27 Sold (Public Records) — Public Records
• 2006-05-03 Sold (Public Records) — Public Records
• 1989-05-09 Sold (Public Records) $16,700 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,974 · +22.1% YoY. Source: county tax records.