1570 Los Alamos St

Brownsville, TX 78521

$344,900D+

6 bd · 4.0 ba · 2,546 sqft · Built 2026 · MultiFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,289/mo
• Mortgage (P&I): −$1,809
• Tax + insurance: −$575
• HOA: −$0
• Vac / Maint / Mgmt: −$691
• Net cashflow: $215/mo
• Annual: $2,577/yr
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $96,572

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $345k. Condition is rated poor.
• At list price, monthly cash flow is $215 ($3k/yr) — positive. Per door: $107/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (4.6% below list).
• It's been on market 82 days — a 6% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $324k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#62 in TX, #2,311 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, crime D-, employment F.
• Brownsville ISD (urban): math 20% / reading 34% proficiency, ranked #710 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Garza El (math 32% / reading 32%, grade F, #2,268 of 4,322 statewide, top 55%, 238 students, 99% FRL); Besteiro Middle (math 14% / reading 28%, grade F, #1,387 of 1,662 statewide, top 85%, 575 students, 98% FRL); Lopez Early College H S (math 20% / reading 39%, grade F, #1,112 of 1,632 statewide, top 70%, 1,831 students, 95% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 366 active listings in the ZIP; lower-income renter base — watch delinquency; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $97k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 5.0% in Brownsville — 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.
• At $3,289/mo this rent would consume 89% of the median local household income ($45k/yr) (locally 2682% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 D 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: concrete foundation — Rebar and concrete are visible, indicating incomplete construction
• Major: roof — No roof visible, suggesting it is not yet installed
• Major: exterior siding — No exterior siding visible, indicating it is not yet installed
• Major: interior walls — No interior walls visible, indicating they are not yet installed
• Major: kitchen — No kitchen visible, indicating it is not yet installed
• Major: bathrooms — No bathrooms visible, indicating they are not yet installed