10614 Emmord Loop

Corpus Christi, TX 78410

$110,000B+

3 bd · 2.0 ba · 1,470 sqft · Built 1985 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,828/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$379
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $488/mo
• Annual: $5,852/yr
• Cap rate: 11.61%
• Cash-on-cash: 19.00%
• DSCR: 1.85
• 1% rule: 1.66%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k. Condition is rated fair.
• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 86 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 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.
• Tuloso-Midway ISD (urban): math 33% / reading 46% proficiency, ranked #408 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tuloso-Midway Int (math 35% / reading 45%, grade F, #1,514 of 4,322 statewide, top 36%, 890 students, 66% FRL); Tuloso-Midway Middle (math 33% / reading 44%, grade F, #704 of 1,662 statewide, top 43%, 801 students, 64% FRL); Tuloso-Midway H S (math 23% / reading 54%, grade F, #866 of 1,632 statewide, top 54%, 1,062 students, 57% FRL).
• Watch-outs: property tax is 3.6% of price.
• Market conditions: Rents rising (+2.0%/yr); 481 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 8 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $31k cash investment doubles in ~7 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.6% vs local median 3.9% 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

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Exposed framing and missing cabinets
• Major: Bathroom fixtures — Exposed framing and missing fixtures
• Moderate: Exterior siding — Worn and some discoloration