103 Shannon Cir · Del Rio, TX 78840

$359,000

None bd · 2.0 ba · 3,680 sqft · MultiFamily public records · 155 Days on market

Built 1983 7,405 sqft 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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Calling on Investors, Centrally Located Muti-family Unit 4 Plex, all 4 Apartments with 2 Bedrooms, 1 Bathroom, Open Floor Plan, all Kitchen Appliances, Central HVAC, Washer & Dryer Connections and Plenty of Parking. Units Lease with independent electricity with water, trash and sewer paid by the landlord. Only a few city blocks from schools and commercial areas and close to all major shopping & dinning.

Key facts

• Central hvac
• Open floor plan
• Kitchen appliances

Tags

• MUTI-FAMILY UNIT
• OPEN FLOOR PLAN
• KITCHEN APPLIANCES
• CENTRAL HVAC
• WASHER AND DRYER CONNECTIONS
• PLENTY OF PARKING

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $316k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#349 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D+, amenities F.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Dr Lonnie Green Jr El (math 26% / reading 31%, grade F, #2,706 of 4,322 statewide, top 63%, 791 students, 74% FRL); Del Rio Middle (math 26% / reading 43%, grade F, #858 of 1,662 statewide, top 54%, 1,478 students, 74% FRL); Del Rio H S (math 27% / reading 30%, grade F, #1,157 of 1,632 statewide, top 72%, 2,470 students, 65% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).
• At $4,241/mo this rent would consume 77% of the median local household income ($66k/yr) (locally 1111% of renters already pay >50% of income on rent) — 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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask is 47767% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.16%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-20,563
• Equity at exit: $53,528

10-year hold

• IRR: 2.2%
• Equity multiple: 1.14×
• Total profit: $14,563
• Equity at exit: $31,040

Cash invested: $100,520 (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 78840

• Home prices YoY: -33.6%
• Rents YoY: 1.6%
• Active inventory: 549
• Price-to-rent: 28.2×

Monthly cashflow live

• Estimated rent: $4,241 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$635 /mo · $7,616/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$891
• Net cashflow: $683

Break-even live

Break-even rent $3,376

Max offer price $359,000

Occupancy floor 79%

Sensitivity live

Price	-10% $887	-5% $785	+0% $683	+5% $582	+10% $480
Rent	-10% $348	-5% $516	+0% $683	+5% $851	+10% $1,019
Rate	-1.0pp $864	-0.5pp $775	base $683	+0.5pp $590	+1.0pp $496

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,240
Total (4 units)			$4,241

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $359,000 Active 155 DOM
2. 2026-06-18
   days on market $359,000 Active 154 DOM
3. 2026-06-17
   days on market $359,000 Active 153 DOM
4. 2026-06-16
   days on market $359,000 Active 152 DOM
5. 2026-06-15
   days on market $359,000 Active 151 DOM
6. 2026-06-14
   days on market $359,000 Active 149 DOM
7. 2026-06-12
   days on market $359,000 Active 148 DOM
8. 2026-06-09
   days on market $359,000 Active 145 DOM
9. 2026-06-08
   days on market $359,000 Active 144 DOM
10. 2026-06-07
    days on market $359,000 Active 143 DOM
11. 2026-06-05
    days on market $359,000 Active 140 DOM
12. 2026-06-03
    days on market $359,000 Active 139 DOM
13. 2026-06-02
    days on market $359,000 Active 138 DOM
14. 2026-06-01
    days on market $359,000 Active 137 DOM
15. 2026-05-31
    days on market $359,000 Active 136 DOM
16. 2026-05-30
    days on market $359,000 Active 135 DOM
17. 2026-05-13
    historical $750
18. 2026-05-07
    listed $750
19. 2026-03-16
    historical $800
20. 2026-01-13
    listed $359,000 Active 418-char remark

    Show marketing remark (418 chars)

    Calling on Investors, Centrally Located Muti-family Unit 4 Plex, all 4 Apartments with 2 Bedrooms, 1 Bathroom, Open Floor Plan, all Kitchen Appliances, Central HVAC, Washer & Dryer Connections and Plenty of Parking. Units Lease with independent electricity with water, trash and sewer paid by the landlord. Only a few city blocks from schools and commercial areas and close to all major shopping & dinning.

21. 2025-12-20
    listed $800
22. 2018-04-27
    soldstatus 25-char remark

    Show marketing remark (25 chars)

    GREAT INVESTMENT PROPERTY

23. 2018-02-22
    listed $195,000 25-char remark

    Show marketing remark (25 chars)

    GREAT INVESTMENT PROPERTY

ⓘ 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: $7,616 · $635/mo
• Projected year-2 tax: $7,616 · $635/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $50,892
• − Mortgage interest: −$20,110
• − Property taxes: −$7,616
• − Insurance: −$1,795
• − Repairs & maintenance: −$4,071
• − Management: −$4,071
• − Depreciation: −$10,444
• Taxable income: $2,785
• Est. tax owed @ 24.0%: −$668
• After-tax cash flow: $7,534/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: San Felipe-Del Rio CISD
• NCES district ID: 4838900
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $40,582
• Composite: 24.04/100
• National rank: #7766
• State rank: #667 of 826 in TX

Livability — Del Rio

• Score: 70/100
• State rank: #349
• US rank: #7531

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment D+ Housing A+ Health & safety C- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Del Rio, TX
• County: Val Verde County · 47,256 people
• City population: 47,256
• Metro: Del Rio, TX
• Population (ZIP): 47,256
• Household income: $66,084
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1111.0

Population outlook (Val Verde County) Hauer SSP2

• Today (2025): 48,073 people
• By 2030: 47,468 · -1.3%
• By 2040: 45,930 · -4.5%
• By 2050: 43,904 · -8.7%
• By 2075: 38,126 · -20.7%
• By 2100: 26,217 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 24% White 15% Black 1%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada
• Languages at home: 36% English-only · Spanish 63%

Political lean MEDSL · Val Verde

• 2024 margin: Strong R (+26.6) · D 36.2% · R 62.9%
• 2008→2024 swing: -36.2pp toward R · 2008: 9.6pp · 2024: -26.6pp
• All cycles: 2024: R+26.6 2020: R+9.9 2016: D+7.9 2012: D+5.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.95%
• Current HPI: 161.762
• Rent YoY: ▲ 1.55%
• Metro: Del Rio, 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

+84.1% since first listed

7 events — show timeline

• 2026-05-13 Rental Removed $750 DRBORMLS
• 2026-05-07 Listed for Rent $750 DRBORMLS
• 2026-03-16 Rental Removed $800 DRBORMLS
• 2026-01-13 Listed $359,000 DRBORMLS
• 2025-12-20 Listed for Rent $800 DRBORMLS
• 2018-04-27 Sold (MLS) — DRBORMLS
• 2018-02-22 Listed $195,000 DRBORMLS

Property tax history

+12.5%/yr

Latest (2025): $7,616 · -9.8% YoY. Source: county tax records.