3500 Carmen Ave #1307 · Rancho Viejo, TX 78575

$149,000

2 bd · 2.0 ba · 1,169 sqft · SingleFamily · 15 Days on market

Built 1982 Fair condition 2,313 sqft lot $292/mo HOA · 15% of rent

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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 +19.6/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +2.3/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

Experience waterfront living in Rancho Viejo! Situated at the peak of the resaca, this desirable first-floor corner unit offers the most unique water views and a peaceful setting within a premier golf course community. Featuring 2 bedrooms and 2 bathrooms, this inviting condo has been updated with elegant granite countertops and offers a comfortable layout designed for easy living. Enjoy the charm, tranquility, and resort-style atmosphere that Rancho Viejo is known for, with golf, nature, and scenic surroundings just outside your door. Whether is your retirement home or just a quick get away, this condo makes a fantastic investment as a rental, currently income producing! Don't miss this opportunity to own the front row seat in Rancho Viejo! Fully furnished, move in ready!

Key facts

• Best water views
• Comfortable layout
• Waterfront living

Tags

• WATERFRONT LIVING
• BEST WATER VIEWS
• GOLF COURSE COMMUNITY
• GRANITE COUNTERTOPS
• COMFORTABLE LAYOUT
• SCENIC SURROUNDINGS

Property features AI

Finance

• HOA & community: Rancho Viejo HOA; Monthly association fee of $292; POA mandatory with $150 transfer fee; Community pool

Exterior

• Parking: No garage or carport
• Utilities: Public water; MUD sewer
• Home design: Condo; Has waterfront
• Construction: Brick and stone construction; Slab foundation; Composition shingle roof
• Exterior features: Mature trees; Corner lot; Resaca (water feature); Covered patio and patio slab; Patio

Interior

• Kitchen: No conveying appliances; Electric water heater
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Entrance foyer; Granite countertops; Built-in features; Ceiling fans; Fireplace; Drapes and mini blinds
• Laundry & utility: Laundry closet; Washer/dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#341 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Villareal El (math 27% / reading 37%, grade F, #2,268 of 4,322 statewide, top 55%, 465 students, 78% FRL); Resaca Middle (math 29% / reading 44%, grade F, #786 of 1,662 statewide, top 48%, 857 students, 77% FRL); Los Fresnos H S (math 41% / reading 55%, grade D, #571 of 1,632 statewide, top 36%, 3,272 students, 82% FRL) — zoned schools average 79% FRL vs 43% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 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); 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y 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.

Risks & watch-outs

• 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.

Recommended offer $146,765 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-12,964
• Equity at exit: $22,216

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $3,684
• Equity at exit: $12,883

Cash invested: $41,720 (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 78575

• Home prices YoY: -2.2%
• Active inventory: 75
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$292
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $172

Break-even live

Break-even rent $1,673

Max offer price $149,000

Occupancy floor 86%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Carmen Ave Rancho Viejo, TX	2.0	1.0–2.5	1145	$1,825	$1.59	13d	2	0.04mi
3500 Carmen Ave #408 Rancho Viejo, TX	2.0	1.0	1070	$2,300	$2.15	13d	1	0.05mi
3500 Carmen Ave #1103 Rancho Viejo, TX	2.0	2.5	1222	$1,500	$1.23	43d	1	0.05mi
4601 Carmen Ave #1604 Rancho Viejo, TX	2.0	2.5	1200	$2,200	$1.83	21d	1	0.83mi
4601 Carmen Ave Unit 1903 Rancho Viejo, TX	2.0	2.0	1169	$2,000	$1.71	43d	1	0.86mi
4601 Carmen Ave Unit 2204 Rancho Viejo, TX	2.0	2.0	1138	$2,000	$1.76	13d	1	0.86mi
4601 Carmen Ave Unit 1603 Rancho Viejo, TX	3.0	2.5	1328	$2,400	$1.81	13d	1	0.86mi
2515 El Dorado Ave Rancho Viejo, TX	3.0	2.0	1420	$1,550	$1.09	13d	1	1.07mi
2101 El Dorado Ave Rancho Viejo, TX	3.0	2.0	1420	$1,600	$1.13	13d	1	1.08mi

HOA detail

• Monthly dues: $292 · $3,504/yr
• Likely covers: water

Listing history 25 events

1. 2026-05-23
   status Pending

   Show marketing remark (783 chars)

   Experience waterfront living in Rancho Viejo! Situated at the peak of the resaca, this desirable first-floor corner unit offers the most unique water views and a peaceful setting within a premier golf course community. Featuring 2 bedrooms and 2 bathrooms, this inviting condo has been updated with elegant granite countertops and offers a comfortable layout designed for easy living. Enjoy the charm, tranquility, and resort-style atmosphere that Rancho Viejo is known for, with golf, nature, and scenic surroundings just outside your door. Whether is your retirement home or just a quick get away, this condo makes a fantastic investment as a rental, currently income producing! Don't miss this opportunity to own the front row seat in Rancho Viejo! Fully furnished, move in ready!

2. 2026-05-23
   status Pending 783-char remark

   Show marketing remark (783 chars)

   Experience waterfront living in Rancho Viejo! Situated at the peak of the resaca, this desirable first-floor corner unit offers the most unique water views and a peaceful setting within a premier golf course community. Featuring 2 bedrooms and 2 bathrooms, this inviting condo has been updated with elegant granite countertops and offers a comfortable layout designed for easy living. Enjoy the charm, tranquility, and resort-style atmosphere that Rancho Viejo is known for, with golf, nature, and scenic surroundings just outside your door. Whether is your retirement home or just a quick get away, this condo makes a fantastic investment as a rental, currently income producing! Don't miss this opportunity to own the front row seat in Rancho Viejo! Fully furnished, move in ready!

3. 2026-05-15
   historical Option
4. 2026-05-07
   listed $149,000 Active

   Show marketing remark (783 chars)

   Experience waterfront living in Rancho Viejo! Situated at the peak of the resaca, this desirable first-floor corner unit offers the most unique water views and a peaceful setting within a premier golf course community. Featuring 2 bedrooms and 2 bathrooms, this inviting condo has been updated with elegant granite countertops and offers a comfortable layout designed for easy living. Enjoy the charm, tranquility, and resort-style atmosphere that Rancho Viejo is known for, with golf, nature, and scenic surroundings just outside your door. Whether is your retirement home or just a quick get away, this condo makes a fantastic investment as a rental, currently income producing! Don't miss this opportunity to own the front row seat in Rancho Viejo! Fully furnished, move in ready!

5. 2026-05-07
   listed $149,000 Active 783-char remark

   Show marketing remark (783 chars)

   Experience waterfront living in Rancho Viejo! Situated at the peak of the resaca, this desirable first-floor corner unit offers the most unique water views and a peaceful setting within a premier golf course community. Featuring 2 bedrooms and 2 bathrooms, this inviting condo has been updated with elegant granite countertops and offers a comfortable layout designed for easy living. Enjoy the charm, tranquility, and resort-style atmosphere that Rancho Viejo is known for, with golf, nature, and scenic surroundings just outside your door. Whether is your retirement home or just a quick get away, this condo makes a fantastic investment as a rental, currently income producing! Don't miss this opportunity to own the front row seat in Rancho Viejo! Fully furnished, move in ready!

6. 2025-03-21
   historical $1,500
7. 2025-03-15
   listed $1,500
8. 2025-03-15
   historical $1,500
9. 2025-01-07
   listed $1,500
10. 2024-12-06
    historical $1,650
11. 2024-09-17
    listed $1,650
12. 2024-09-17
    historical $1,650
13. 2024-09-11
    listed $1,650
14. 2024-09-11
    historical $1,650
15. 2024-09-10
    listed $1,650
16. 2024-09-10
    historical $1,640
17. 2024-08-20
    listed $1,640
18. 2023-08-02
    historical $1,600
19. 2023-07-25
    price $1,600
20. 2023-07-20
    listed $1,750
21. 2022-08-12
    soldstatus Closed 40-char remark

    Show marketing remark (40 chars)

    Beautiful property completely furnished.

22. 2022-07-06
    status Pending 40-char remark

    Show marketing remark (40 chars)

    Beautiful property completely furnished.

23. 2022-07-01
    listed $115,000 Active 40-char remark

    Show marketing remark (40 chars)

    Beautiful property completely furnished.

24. 2018-08-31
    soldstatus
25. 2018-02-26
    listed $79,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 7 d/yr ≥111°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: $22,693
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − HOA: −$3,504
• − Depreciation: −$4,335
• Taxable loss: −$102
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $2,092/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.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab

This waterfront townhouse in Rancho Viejo offers a unique water view and a peaceful setting, but requires minor repairs and maintenance to fully enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor paint — some discoloration on walls
• Minor landscaping — some overgrown areas

Value-add opportunities

• Both painting — enhances curb appeal and interior aesthetics
• Both landscaping — improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · some discoloration on walls	Minor	$500–3,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both painting — enhances curb appeal and interior aesthetics ↑
• Both landscaping — improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Rancho Viejo

• Score: 70/100
• State rank: #341
• US rank: #7444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rancho Viejo, TX
• City population: 4,728
• Population (ZIP): 4,728

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 (78%)
• Race & ethnicity: Hispanic / Latino 78% Two or more races 36% White 19% Asian 3%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 28% · Canada, China, Dominican Republic
• Languages at home: 27% English-only · Spanish 70% Chinese 1% Other Indo-European 1%

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: ▼ -5.34%
• Current HPI: 240.4582
• 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

+88.6% since first listed

25 events — show timeline

• 2026-05-23 Pending — MCALLENMLS
• 2026-05-23 Pending — RGVMLS
• 2026-05-15 Contingent — MCALLENMLS
• 2026-05-07 Listed $149,000 RGVMLS
• 2026-05-07 Listed $149,000 MCALLENMLS
• 2025-03-21 Rental Removed $1,500 RGVMLS
• 2025-03-15 Listed for Rent $1,500 RGVMLS
• 2025-03-15 Rental Removed $1,500 MCALLENMLS
• 2025-01-07 Listed for Rent $1,500 MCALLENMLS
• 2024-12-06 Rental Removed $1,650 RGVMLS
• 2024-09-17 Listed for Rent $1,650 RGVMLS
• 2024-09-17 Rental Removed $1,650 MCALLENMLS
• 2024-09-11 Listed for Rent $1,650 MCALLENMLS
• 2024-09-11 Rental Removed $1,650 RGVMLS
• 2024-09-10 Listed for Rent $1,650 RGVMLS
• 2024-09-10 Rental Removed $1,640 BUILDIUM
• 2024-08-20 Listed for Rent $1,640 BUILDIUM
• 2023-08-02 Rental Removed $1,600 BUILDIUM
• 2023-07-25 Price Changed $1,600 BUILDIUM
• 2023-07-20 Listed for Rent $1,750 BUILDIUM
• 2022-08-12 Sold (MLS) — RGVMLS
• 2022-07-06 Pending — RGVMLS
• 2022-07-01 Listed $115,000 RGVMLS
• 2018-08-31 Sold (MLS) — RGVMLS
• 2018-02-26 Listed $79,000 RGVMLS