479 Homecrest St · Corpus Christi, TX 78412

$139,995

3 bd · 2.0 ba · 1,918 sqft · SingleFamily public records · 140 Days on market

Built 1942 0.45 ac lot

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Why this score? — see what drove the C+ 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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTORS!!!! Property Needs and Potential This home has potential but requires substantial repairs and updates to restore it to its full value. The following work is needed: 1. Roof Repairs/Replacements The roof requires attention to ensure the home remains dry and secure. Recommended: full inspection and replacement of shingles or materials as needed. 2. HVAC and Ductwork The heating, ventilation, and air conditioning system, along with the ductwork, needs to be fully replaced. 3. Kitchen and Bathroom Remodels Both the kitchen and bathrooms are in need of extensive updates. New cabinetry, countertops, fixtures, and flooring would modernize these spaces and increase the home’s value. 4. Hardwood Floor Refinishing The hardwood floors tin areas of the home are in need of refinishing. Some areas may also require minor repairs to restore their beauty and integrity. 5. Structural Repairs – Pier and Beam Foundation As a pier and beam home, it will require routine inspection and possible minor repairs to the foundation. 6. Interior and Exterior Paint Both the interior and exterior of the home are in need of fresh paint to enhance curb appeal and maintain the longevity of the structure. 7. Sheetrock Repairs Some areas of the home need sheetrock repair and potential replacement, particularly where there has been water damage or wear. 8. Washer/Dryer Room Repair A small room off of the garage, previously used for the washer and dryer, requires extensive repair to restore it to full functionality.

Key facts

• Solid foundation
• Convenient location
• Beautiful views

Tags

• LUSH FAIRWAYS
• BEAUTIFUL VIEWS
• RECREATIONAL OPPORTUNITIES
• CONVENIENT LOCATION
• SOLID FOUNDATION
• POTENTIAL FOR CUSTOMIZATION

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: 1-car garage; Asphalt driveway
• Utilities: Public water available; Public sewer available
• Home design: Single-story; Shingle roof
• Construction: Vinyl siding; Wood siding; Pillar/post/pier and slab foundation; Built with 1 story
• Exterior features: Chain link and wood fencing; Corner lot

Interior

• Flooring: Hardwood; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central electric cooling
• Interior features: Hardwood flooring; Laminate flooring; Linoleum flooring; Fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.

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.
• Market conditions: Rents soft (-1.5%/yr); 207 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).
• This rent runs 37% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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 140 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago; this cycle's ask has dropped $50k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $140k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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.

Recommended offer $123,195 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.34% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.08%
• DSCR: 1.45
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $293,454
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
479 Homecrest St	0.00mi	3/2.0	1,918 (0%)	0mo	$139,995	$73	100
445 Haroldson Dr	0.24mi	3/2.0	1,893 (-1%)	5mo	$205,900	$109	82
466 Palmetto St	0.22mi	3/2.0	1,956 (+2%)	8mo	$329,900	$169	79
484 Palmetto St	0.22mi	3/2.0	2,013 (+5%)	6mo	$269,900	$134	76
420 Homecrest St	0.17mi	4/2.0 (+1)	2,028 (+6%)	6mo	$310,000	$153	72
422 Poenisch Dr	0.39mi	3/2.0	2,025 (+6%)	6mo	$379,000	$187	68
419 University Dr	0.21mi	4/2.0 (+1)	1,785 (-7%)	9mo	$329,900	$185	66
533 Parade Dr	0.43mi	4/2.0 (+1)	2,017 (+5%)	1mo	$250,000	$124	65
534 Parade Dr	0.47mi	3/2.0	1,724 (-10%)	3mo	$219,900	$128	59
418 Troy Dr	0.35mi	4/2.0 (+1)	1,663 (-13%)	1mo	$289,900	$174	56
445 Troy Dr	0.29mi	3/2.0	1,631 (-15%)	10mo	$159,000	$97	53
933 Egyptian Dr	0.67mi	4/2.0 (+1)	2,122 (+11%)	4mo	$329,500	$155	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-7,081
• Equity at exit: $20,874

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $137
• Equity at exit: $12,104

Cash invested: $39,199 (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 78412

• Rents YoY: -1.5%
• Active inventory: 207
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$734
• Tax from tax record: −$363 /mo · $4,351/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $329

Break-even live

Break-even rent $1,462

Max offer price $139,995

Occupancy floor 77%

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: $34,999
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
441 Montclair Dr Corpus Christi, TX	3.0	2.0	2271	$2,200	$0.97	13d	1	0.41mi
449 Parade Dr Corpus Christi, TX	4.0	2.0	2085	$1,895	$0.91	13d	1	0.46mi
857 Belmeade Dr Corpus Christi, TX	3.0	2.0	1573	$1,800	$1.14	44d	1	0.79mi
1106 Stratton Dr Corpus Christi, TX	2.0	1.0	1509	$1,300	$0.86	13d	1	0.97mi
4657 Ocean Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	931	$1,890	$2.03	13d	7	1.36mi
4602 Ocean Dr Corpus Christi, TX	1.0–2.0	1.0–2.0	972	$3,671	$3.77	13d	30	1.45mi
1137 Bradshaw Dr Corpus Christi, TX	3.0	2.0	1424	$1,900	$1.33	13d	1	1.46mi
16 Rock Creek Dr Corpus Christi, TX	3.0	2.5	2450	$1,950	$0.80	21d	1	1.47mi
16 Rock Creek Dr #16 Corpus Christi, TX	3.0	3.0	2450	$1,955	$0.80	21d	1	1.48mi

Listing history 14 events

1. 2026-05-03
   status Pending
2. 2026-04-18
   historical
3. 2026-03-16
   price $139,995
4. 2026-01-06
   price $179,995
5. 2025-12-03
   status Pending
6. 2025-11-05
   listed $189,995 Active
7. 2025-02-26
   soldstatus Closed 1553-char remark

   Show marketing remark (1553 chars)

   CALLING ALL INVESTORS!!!! Property Needs and Potential This home has potential but requires substantial repairs and updates to restore it to its full value. The following work is needed: 1. Roof Repairs/Replacements The roof requires attention to ensure the home remains dry and secure. Recommended: full inspection and replacement of shingles or materials as needed. 2. HVAC and Ductwork The heating, ventilation, and air conditioning system, along with the ductwork, needs to be fully replaced. 3. Kitchen and Bathroom Remodels Both the kitchen and bathrooms are in need of extensive updates. New cabinetry, countertops, fixtures, and flooring would modernize these spaces and increase the home’s value. 4. Hardwood Floor Refinishing The hardwood floors tin areas of the home are in need of refinishing. Some areas may also require minor repairs to restore their beauty and integrity. 5. Structural Repairs – Pier and Beam Foundation As a pier and beam home, it will require routine inspection and possible minor repairs to the foundation. 6. Interior and Exterior Paint Both the interior and exterior of the home are in need of fresh paint to enhance curb appeal and maintain the longevity of the structure. 7. Sheetrock Repairs Some areas of the home need sheetrock repair and potential replacement, particularly where there has been water damage or wear. 8. Washer/Dryer Room Repair A small room off of the garage, previously used for the washer and dryer, requires extensive repair to restore it to full functionality.

8. 2025-02-26
   soldstatus

   Show marketing remark (1553 chars)

   CALLING ALL INVESTORS!!!! Property Needs and Potential This home has potential but requires substantial repairs and updates to restore it to its full value. The following work is needed: 1. Roof Repairs/Replacements The roof requires attention to ensure the home remains dry and secure. Recommended: full inspection and replacement of shingles or materials as needed. 2. HVAC and Ductwork The heating, ventilation, and air conditioning system, along with the ductwork, needs to be fully replaced. 3. Kitchen and Bathroom Remodels Both the kitchen and bathrooms are in need of extensive updates. New cabinetry, countertops, fixtures, and flooring would modernize these spaces and increase the home’s value. 4. Hardwood Floor Refinishing The hardwood floors tin areas of the home are in need of refinishing. Some areas may also require minor repairs to restore their beauty and integrity. 5. Structural Repairs – Pier and Beam Foundation As a pier and beam home, it will require routine inspection and possible minor repairs to the foundation. 6. Interior and Exterior Paint Both the interior and exterior of the home are in need of fresh paint to enhance curb appeal and maintain the longevity of the structure. 7. Sheetrock Repairs Some areas of the home need sheetrock repair and potential replacement, particularly where there has been water damage or wear. 8. Washer/Dryer Room Repair A small room off of the garage, previously used for the washer and dryer, requires extensive repair to restore it to full functionality.

9. 2025-02-19
   status Pending 1553-char remark

   Show marketing remark (1553 chars)

   CALLING ALL INVESTORS!!!! Property Needs and Potential This home has potential but requires substantial repairs and updates to restore it to its full value. The following work is needed: 1. Roof Repairs/Replacements The roof requires attention to ensure the home remains dry and secure. Recommended: full inspection and replacement of shingles or materials as needed. 2. HVAC and Ductwork The heating, ventilation, and air conditioning system, along with the ductwork, needs to be fully replaced. 3. Kitchen and Bathroom Remodels Both the kitchen and bathrooms are in need of extensive updates. New cabinetry, countertops, fixtures, and flooring would modernize these spaces and increase the home’s value. 4. Hardwood Floor Refinishing The hardwood floors tin areas of the home are in need of refinishing. Some areas may also require minor repairs to restore their beauty and integrity. 5. Structural Repairs – Pier and Beam Foundation As a pier and beam home, it will require routine inspection and possible minor repairs to the foundation. 6. Interior and Exterior Paint Both the interior and exterior of the home are in need of fresh paint to enhance curb appeal and maintain the longevity of the structure. 7. Sheetrock Repairs Some areas of the home need sheetrock repair and potential replacement, particularly where there has been water damage or wear. 8. Washer/Dryer Room Repair A small room off of the garage, previously used for the washer and dryer, requires extensive repair to restore it to full functionality.

10. 2025-01-22
    listed $120,000 Active 1553-char remark

    Show marketing remark (1553 chars)

    CALLING ALL INVESTORS!!!! Property Needs and Potential This home has potential but requires substantial repairs and updates to restore it to its full value. The following work is needed: 1. Roof Repairs/Replacements The roof requires attention to ensure the home remains dry and secure. Recommended: full inspection and replacement of shingles or materials as needed. 2. HVAC and Ductwork The heating, ventilation, and air conditioning system, along with the ductwork, needs to be fully replaced. 3. Kitchen and Bathroom Remodels Both the kitchen and bathrooms are in need of extensive updates. New cabinetry, countertops, fixtures, and flooring would modernize these spaces and increase the home’s value. 4. Hardwood Floor Refinishing The hardwood floors tin areas of the home are in need of refinishing. Some areas may also require minor repairs to restore their beauty and integrity. 5. Structural Repairs – Pier and Beam Foundation As a pier and beam home, it will require routine inspection and possible minor repairs to the foundation. 6. Interior and Exterior Paint Both the interior and exterior of the home are in need of fresh paint to enhance curb appeal and maintain the longevity of the structure. 7. Sheetrock Repairs Some areas of the home need sheetrock repair and potential replacement, particularly where there has been water damage or wear. 8. Washer/Dryer Room Repair A small room off of the garage, previously used for the washer and dryer, requires extensive repair to restore it to full functionality.

11. 2024-08-12
    listed $157,000 Active
12. 2024-02-29
    listed $157,000 Active
13. 2001-01-02
    soldstatus $57,000
14. 1998-10-28
    listed $89,900

ⓘ 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: $4,351 · $363/mo
• Projected year-2 tax: $4,351 · $363/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 5/10 Major FEMA zone X (unshaded) · 41% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $22,546
• − Mortgage interest: −$7,842
• − Property taxes: −$4,351
• − Insurance: −$700
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$4,073
• Taxable income: $1,973
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $3,477/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): 38,631
• Household income: $61,215
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1932.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 57% White 34% Two or more races 29% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 22% Other Indo-European 1% Vietnamese 1%

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: ▼ -255.29%
• Current HPI: 177.36
• Rent YoY: ▼ -1.53%
• 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

+55.7% since first listed

14 events — show timeline

• 2026-05-03 Pending — CBMLS
• 2026-04-18 Delisted — CBMLS
• 2026-03-16 Price Changed $139,995 CBMLS
• 2026-01-06 Price Changed $179,995 CBMLS
• 2025-12-03 Pending — CBMLS
• 2025-11-05 Listed $189,995 CBMLS
• 2025-02-26 Sold (Public Records) — Public Records
• 2025-02-26 Sold (MLS) — CBMLS
• 2025-02-19 Pending — CBMLS
• 2025-01-22 Listed $120,000 CBMLS
• 2024-08-12 Listed $157,000 CBMLS
• 2024-02-29 Listed $157,000 CBMLS
• 2001-01-02 Sold (Public Records) $57,000 Public Records
• 1998-10-28 Listed $89,900 CBMLS

Property tax history

+0.2%/yr

Latest (2025): $4,351 · +22.1% YoY. Source: county tax records.