3626 Fairchild St

Corpus Christi, TX 78405

$62,500B

2 bd · 1.0 ba · 1,055 sqft · Built 1955 · SingleFamily · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,158/mo
• Mortgage (P&I): −$328
• Tax + insurance: −$194
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $393/mo
• Annual: $4,721/yr
• Cap rate: 13.85%
• Cash-on-cash: 26.97%
• DSCR: 2.20
• 1% rule: 1.85%
• Cash to close: $17,500

Investor read

• This is a 2-bed/1.0-bath single-family listed at $62k. Condition is rated fair.
• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 147 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($432 loan paydown + $888 appreciation (1.4% local appreciation)).
• 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); Moody H S (math 33% / reading 26%, grade F, #1,112 of 1,632 statewide, top 70%, 1,382 students, 84% FRL).
• Zoned-school proficiency averages 52% at this address vs 33% district-wide (+19 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.
• Watch-outs: property tax is 3.2% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 119 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.8% 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 147 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Built in 1955 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and discoloration suggest significant damage and potential water infiltration.
• Major: siding — Peeling paint and overall poor condition indicate a need for replacement.
• Major: flooring — Worn appearance suggests the need for replacement or repair.
• Major: interior walls/paint — Faded and worn paint indicates a need for repainting or replacement.
• Major: HVAC — Old unit may need replacement or repair to ensure proper functioning.
• Major: landscaping — Sparse and overgrown appearance requires maintenance and landscaping improvements to enhance curb appeal.