Midland Plan · Corpus Christi, TX 78380

$391,900

4 bd · 3.0 ba · 2,170 sqft · SingleFamily · 463 Days on market

Excellent condition

---

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 +10.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +2.2/10.0

Listing remarks MLS

The Midland plan is a two-story, 4-bedroom, 3-bathroom home featuring approximately 2,170 square feet of living space. The entry opens to a downstairs guest bedroom and bath with a hall linen closet. The kitchen includes a breakfast bar, beautiful quartz countertops, stainless steel appliances, and a corner pantry. The open-concept floor plan boasts a spacious living room and dining area. Extra storage space under the stairs is a plus. Bedroom 1 offers privacy along with an attractive bathroom and walk-in closet. A versatile loft area greets you at the top of the stairs and opens to two additional bedrooms and a bath. The standard rear-covered patio is located off the dining area. You'll enjoy added security in your new D. R. Horton home with our Home is Connected features. With D. R. Horton's simple buying process and ten-year limited warranty, there's no reason to wait. (Prices, plans, dimensions, specifications, features, incentives, and availability are subject to change without notice obligation.

Key facts

• Corner pantry
• Granite countertops
• Breakfast bar

Tags

• DOWNSTAIRS GUEST BEDROOM
• BREAKFAST BAR
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CORNER PANTRY
• OPEN-CONCEPT FLOOR PLAN

🏗️ New construction. The $391,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $408,876.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $392k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $382k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (14.6% below list).
• Recommended offer: $334k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.7% 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: 230 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• At $3,345/mo this rent would consume 68% of the median local household income ($59k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 463 days — a 12% lower offer ($345k) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $334,500 (14.6% 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 463 days. Have you received any prior offers? Is the seller open to a 15% 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: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $408,876
• List price: $391,900
• Delta: -4.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3545 Sepehr Lake Dr	0.07mi	4/2.0	2,152 (-1%)	4mo	$390,785	$182	88
3505 Sepehr Lake Dr	0.09mi	4/2.0	2,152 (-1%)	4mo	$415,510	$193	87
3537 Sahar Lake Dr	0.13mi	4/2.0	2,152 (-1%)	4mo	$406,125	$189	85
3554 Sepehr Lake Dr	0.09mi	4/3.0	2,042 (-6%)	4mo	$372,282	$182	82
3601 Sahar Lake Dr	0.12mi	4/2.0	2,152 (-1%)	9mo	$412,083	$191	81
3525 Sahar Lk	0.15mi	4/3.0	2,232 (+3%)	9mo	$419,000	$188	81
3541 Sahar Lake Dr	0.13mi	4/2.0	2,042 (-6%)	5mo	$372,645	$182	76
14910 Lake Athens Ave	0.42mi	4/2.0	2,174 (+0%)	7mo	$399,999	$184	70
3722 Lake Hawkins Ct	0.42mi	4/3.0	2,414 (+11%)	10mo	$405,000	$168	53
14924 Sandy Creek Ct	0.72mi	4/2.0	2,055 (-5%)	7mo	$325,000	$158	47
4129 Wood River Dr	0.72mi	3/2.0 (-1)	1,982 (-9%)	4mo	$305,000	$154	40
4125 Rapids Dr	0.66mi	3/3.0 (-1)	1,913 (-12%)	7mo	$215,000	$112	39

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-77,867
• Equity at exit: $60,965

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-82,616
• Equity at exit: $35,352

Cash invested: $114,485 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 28 active · 9 under contract
• Months of supply: 11.2 mo (9%/mo absorbed)
• Median asking: $362,835 ($174/sqft)
• Median days on market: 178 d
• This list price: 71% of active listings are priced below it
• ARV vs active asking: +8.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78380

• Home prices YoY: -1.9%
• Active inventory: 230
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,345 medium
• Mortgage (P&I): −$2,144
• Tax est. 1.5%: −$511 /mo · $6,133/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $-183

Break-even live

Break-even rent $3,577

Max offer price $382,381

Occupancy floor —

Sensitivity live

Price	-10% $99	-5% $-42	+0% $-183	+5% $-324	+10% $-466
Rent	-10% $-447	-5% $-315	+0% $-183	+5% $-51	+10% $81
Rate	-1.0pp $23	-0.5pp $-79	base $-183	+0.5pp $-289	+1.0pp $-397

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: $102,219
• Closing costs: $12,266
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4510 Thoreau Cir Corpus Christi, TX	3.0	2.5	2577	$3,345	$1.30	93d	1	1.27mi

Listing history 50 events

1. 2026-08-08
   days on market $391,900 Active 463 DOM
2. 2026-08-07
   days on market $391,900 Active 462 DOM
3. 2026-08-06
   days on market $391,900 Active 461 DOM
4. 2026-08-05
   days on market $391,900 Active 460 DOM
5. 2026-08-04
   days on market $391,900 Active 459 DOM
6. 2026-08-03
   days on market $391,900 Active 458 DOM
7. 2026-07-31
   days on market $391,900 Active 455 DOM
8. 2026-07-30
   days on market $391,900 Active 454 DOM
9. 2026-07-29
   days on market $391,900 Active 453 DOM
10. 2026-07-27
    days on market $391,900 Active 451 DOM
11. 2026-07-25
    days on market $391,900 Active 449 DOM
12. 2026-07-23
    days on market $391,900 Active 447 DOM
13. 2026-07-22
    days on market $391,900 Active 446 DOM
14. 2026-07-21
    days on market $391,900 Active 445 DOM
15. 2026-07-18
    days on market $391,900 Active 442 DOM
16. 2026-07-16
    days on market $391,900 Active 440 DOM
17. 2026-07-16
    days on market $391,900 Active 439 DOM
18. 2026-07-14
    days on market $391,900 Active 438 DOM
19. 2026-07-13
    days on market $391,900 Active 437 DOM
20. 2026-07-12
    days on market $391,900 Active 436 DOM
21. 2026-07-11
    days on market $391,900 Active 435 DOM
22. 2026-07-10
    days on market $391,900 Active 434 DOM
23. 2026-07-09
    days on market $391,900 Active 433 DOM
24. 2026-07-08
    days on market $391,900 Active 432 DOM
25. 2026-07-07
    days on market $391,900 Active 431 DOM
26. 2026-07-06
    days on market $391,900 Active 430 DOM
27. 2026-07-05
    days on market $391,900 Active 429 DOM
28. 2026-07-04
    days on market $391,900 Active 428 DOM
29. 2026-07-03
    days on market $391,900 Active 427 DOM
30. 2026-07-02
    days on market $391,900 Active 426 DOM
31. 2026-07-01
    days on market $391,900 Active 425 DOM
32. 2026-06-30
    days on market $391,900 Active 424 DOM
33. 2026-06-29
    days on market $391,900 Active 423 DOM
34. 2026-06-28
    days on market $391,900 Active 422 DOM
35. 2026-06-28
    days on market $391,900 Active 421 DOM
36. 2026-06-27
    days on market $391,900 Active 420 DOM
37. 2026-06-25
    days on market $391,900 Active 418 DOM
38. 2026-06-23
    days on market $391,900 Active 416 DOM
39. 2026-06-21
    days on market $391,900 Active 415 DOM
40. 2026-06-18
    days on market $391,900 Active 412 DOM
41. 2026-06-17
    days on market $391,900 Active 411 DOM
42. 2026-06-16
    days on market $391,900 Active 410 DOM
43. 2026-06-15
    days on market $391,900 Active 409 DOM
44. 2026-06-14
    days on market $391,900 Active 407 DOM
45. 2026-06-13
    days on market $391,900 Active 406 DOM
46. 2026-06-10
    days on market $391,900 Active 404 DOM
47. 2026-06-09
    days on market $391,900 Active 403 DOM
48. 2026-06-08
    days on market $391,900 Active 402 DOM
49. 2026-06-07
    days on market $391,900 Active 401 DOM
50. 2026-06-03
    days on market $391,900 Active 397 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥111°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: $40,140
• − Mortgage interest: −$22,903
• − Property taxes: −$6,133
• − Insurance: −$2,044
• − Repairs & maintenance: −$3,211
• − Management: −$3,211
• − Depreciation: −$11,895
• Taxable loss: −$9,258
• Est. tax savings @ 24.0%: +$2,222
• After-tax cash flow: $25/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This Midland plan home is in excellent condition with no visible repairs needed. It offers a good ROI with updates focusing on curb appeal and modern amenities.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace landscaping with more drought-resistant plants — Reduces maintenance and enhances curb appeal ↑
• Both Install smart home security system — Improves safety and adds modern amenities ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Calallen Wood River El C+ TX #505/4,322 Nat'l #8,534/41,679 Middle Calallen Middle F TX #646/1,662 Nat'l #6,005/14,009 High Calallen H S C- TX #437/1,632 Nat'l #4,893/17,239

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

B Composite livability gradescore 78/100

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 · 418,037 people
• City population: 296,836
• Metro: Corpus Christi, TX
• Population (ZIP): 23,752
• Household income: $59,322
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 14% of renters

---

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

• 2025-05-02 Listed $391,900 Zillow