37 N Indian Lake Dr · Indian Lake, TX 78566

$150,000

2 bd · 1.0 ba · 768 sqft · SingleFamily · 122 Days on market

Built 2002 2,415 sqft lot ↓ 10% since listing

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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 +13.6/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• 1% rule +3.3/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GREAT INVESTMENT OPPORTUNITY WITH 4 WATERFRONT LOTS FOR ONE PRICE!!! Look at this well-maintained 2-bedroom, 1-bath mobile home situated on three spacious lots along the resaca in the desirable Indian Lake community. This property offers ample outdoor space with beautiful water views, mature trees, and room for future expansion or outdoor living. The home features an open-concept layout, bright kitchen, and covered porch perfect for relaxing and enjoying the peaceful surroundings. Ideal for a permanent residence, vacation home, or investment opportunity. Buy this home and sell the two waterfront RV Lots if you want! This property is priced to sell and will not last long at this price!

Key facts

• Covered porch
• Water views
• Waterfront lots

Tags

• WATERFRONT LOTS
• OUTDOOR SPACE
• WATER VIEWS
• MATURE TREES
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $9 ($112/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (16.9% below list).
• Recommended offer: $125k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#1,012 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Los Fresnos CISD (suburban): math 34% / reading 44% proficiency, ranked #444 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 231 active listings in the ZIP; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.8% local appreciation)).
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,701 (16.9% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $96,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Resaca Shores Dr S	0.35mi	1/1.0 (-1)	825 (+7%)	12mo	$103,000	$125	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 2.00×
• Total profit: $41,943
• Equity at exit: $92,228

10-year hold

• IRR: 15.3%
• Equity multiple: 3.94×
• Total profit: $123,404
• Equity at exit: $165,494

Cash invested: $42,000 (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 78566

• Home prices YoY: 2.7%
• Active inventory: 231
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$127 /mo · $1,520/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $9

Break-even live

Break-even rent $1,235

Max offer price $150,000

Occupancy floor 94%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 122 DOM
2. 2026-06-17
   days on market $150,000 Active 121 DOM
3. 2026-06-16
   days on market $150,000 Active 120 DOM
4. 2026-06-15
   days on market $150,000 Active 119 DOM
5. 2026-06-14
   days on market $150,000 Active 117 DOM
6. 2026-06-13
   pricedays on market $150,000 Active 116 DOM
7. 2026-06-10
   days on market $180,000 Active 114 DOM
8. 2026-06-09
   days on market $180,000 Active 113 DOM
9. 2026-06-08
   days on market $180,000 Active 112 DOM
10. 2026-06-07
    days on market $180,000 Active 111 DOM
11. 2026-06-05
    days on market $180,000 Active 108 DOM
12. 2026-06-03
    days on market $180,000 Active 107 DOM
13. 2026-06-02
    days on market $180,000 Active 106 DOM
14. 2026-06-01
    days on market $180,000 Active 105 DOM
15. 2026-05-31
    days on market $180,000 Active 104 DOM
16. 2026-05-30
    days on market $180,000 Active 103 DOM
17. 2026-02-16
    listed $180,000 Active 693-char remark

    Show marketing remark (693 chars)

    GREAT INVESTMENT OPPORTUNITY WITH 4 WATERFRONT LOTS FOR ONE PRICE!!! Look at this well-maintained 2-bedroom, 1-bath mobile home situated on three spacious lots along the resaca in the desirable Indian Lake community. This property offers ample outdoor space with beautiful water views, mature trees, and room for future expansion or outdoor living. The home features an open-concept layout, bright kitchen, and covered porch perfect for relaxing and enjoying the peaceful surroundings. Ideal for a permanent residence, vacation home, or investment opportunity. Buy this home and sell the two waterfront RV Lots if you want! This property is priced to sell and will not last long at this price!

18. 2026-02-01
    price $180,000 693-char remark

    Show marketing remark (693 chars)

    GREAT INVESTMENT OPPORTUNITY WITH 4 WATERFRONT LOTS FOR ONE PRICE!!! Look at this well-maintained 2-bedroom, 1-bath mobile home situated on three spacious lots along the resaca in the desirable Indian Lake community. This property offers ample outdoor space with beautiful water views, mature trees, and room for future expansion or outdoor living. The home features an open-concept layout, bright kitchen, and covered porch perfect for relaxing and enjoying the peaceful surroundings. Ideal for a permanent residence, vacation home, or investment opportunity. Buy this home and sell the two waterfront RV Lots if you want! This property is priced to sell and will not last long at this price!

19. 2025-11-17
    listed $199,999 Active 693-char remark

    Show marketing remark (693 chars)

    GREAT INVESTMENT OPPORTUNITY WITH 4 WATERFRONT LOTS FOR ONE PRICE!!! Look at this well-maintained 2-bedroom, 1-bath mobile home situated on three spacious lots along the resaca in the desirable Indian Lake community. This property offers ample outdoor space with beautiful water views, mature trees, and room for future expansion or outdoor living. The home features an open-concept layout, bright kitchen, and covered porch perfect for relaxing and enjoying the peaceful surroundings. Ideal for a permanent residence, vacation home, or investment opportunity. Buy this home and sell the two waterfront RV Lots if you want! This property is priced to sell and will not last long at this price!

20. 2006-03-16
    soldstatus
21. 2006-03-02
    soldstatus
22. 1991-07-01
    soldstatus

ⓘ 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: $1,520 · $127/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$1,225/yr (+$102/mo · 80.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 5 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,964
• − Mortgage interest: −$8,402
• − Property taxes: −$1,520
• − Insurance: −$750
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$4,364
• Taxable loss: −$2,466
• Est. tax savings @ 24.0%: +$592
• After-tax cash flow: $704/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: Los Fresnos CISD
• NCES district ID: 4828290
• Math proficiency: 34% ▼ -30.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $42,586
• Composite: 32.92/100
• National rank: #5601
• State rank: #444 of 826 in TX

Livability — Indian Lake

• Score: 61/100
• State rank: #1012
• US rank: #18023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian Lake, TX
• Population (ZIP): 24,927

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 45% White 10% Black 1%
• Hispanic origin (detail): Mexican 84%
• Foreign-born: 22% · Canada
• Languages at home: 33% English-only · Spanish 67%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.78%
• Current HPI: 218.1236
• 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

-10.0% since first listed

6 events — show timeline

• 2026-02-16 Listed $180,000 MCALLENMLS
• 2026-02-01 Price Changed $180,000 RGVMLS
• 2025-11-17 Listed $199,999 RGVMLS
• 2006-03-16 Sold (Public Records) — Public Records
• 2006-03-02 Sold (Public Records) — Public Records
• 1991-07-01 Sold (Public Records) — Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,520 · +19.5% YoY. Source: county tax records.