1921 S 8th St #23 · McAllen, TX 78503

$117,500

2 bd · 2.0 ba · 1,016 sqft · Condo · 157 Days on market

Built 1982 Good condition $116/sqft · 11% above area Est $106k · 11% over $125/mo HOA · 9% 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 +23.0/30.0
• DSCR +7.4/10.0
• 1% rule +7.3/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• ARV discount +2.6/15.0
• Rent growth +1.4/5.0
• Appreciation +0.4/10.0

Listing remarks MLS

Well-maintained 2-bedroom, 2-bath condominium located in a highly desirable central McAllen area, within walking distance to La Plaza Mall, restaurants, and retail, and just minutes from major hospitals and medical centers. This second-floor unit offers a functional layout with tile flooring throughout, spacious bedrooms, and a comfortable living area suitable for primary residence, extended stays, or second-home use. Property has been utilized as a short-term rental with documented historical performance. Buyer to independently verify all income, expenses, zoning, HOA regulations, permits, and short-term rental eligibility. No representations are made regarding future rental income. Walkable access to shopping and dining, combined with proximity to medical facilities and main thoroughfares, makes this property a versatile option in a prime location.

Key facts

• $125 HOA
• Garage
• Built 1982

Tags

• TILE FLOORING THROUGHOUT
• SHORT-TERM RENTAL ELIGIBILITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $118k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.7% in McAllen — 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 76/100 on livability (#119 in TX, #3,771 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Mcallen ISD (urban): math 34% / reading 45% proficiency, ranked #440 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-4.2%/yr); 215 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 33% of the median local income ($53k/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 $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.23% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 6.8

CMA / ARV

• ARV (median comp): $105,912
• List price: $117,500
• Delta: 10.94%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-9,939
• Equity at exit: $17,520

10-year hold

• IRR: -4.1%
• Equity multiple: 0.77×
• Total profit: $-7,608
• Equity at exit: $10,159

Cash invested: $32,900 (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 78503

• Home prices YoY: -4.2%
• Rents YoY: -4.2%
• Active inventory: 215
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$616
• Tax est. 1.5%: −$147 /mo · $1,762/yr
• Insurance: −$49
• HOA: −$125
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $208

Break-even live

Break-even rent $1,186

Max offer price $117,500

Occupancy floor 81%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 Uvalde Ave Unit 2 McAllen, TX	3.0	2.0	1250	$1,950	$1.56	43d	1	0.12mi
700 Sunset Dr McAllen, TX	2.0	2.0	1300	$922	$0.71	43d	2	0.50mi
601 Kennedy Ave McAllen, TX	3.0	2.0	936	$1,350	$1.44	43d	1	0.57mi
1700 Toronto Ave McAllen, TX	3.0	2.0	1500	$1,750	$1.17	43d	1	0.63mi
812 S 6th St Unit 4 McAllen, TX	3.0	2.5	1360	$2,000	$1.47	23d	1	0.73mi
901 Galveston Ave Unit C McAllen, TX	2.0	2.0	888	$950	$1.07	14d	1	0.80mi
915-917 Galveston Ave Unit 917-3 McAllen, TX	3.0	2.5	1455	$995	$0.68	43d	1	0.80mi
1510 Ithaca Ave #2 McAllen, TX	2.0	1.5	998	$1,000	$1.00	23d	1	0.86mi
1515 S 16th St McAllen, TX	2.0	1.0	1050	$975	$0.93	43d	1	0.91mi
1515 W Houston Ave McAllen, TX	2.0	1.0	1050	$1,800	$1.71	43d	1	0.91mi
615 W Dallas Ave Apt A-3 McAllen, TX	1.0	1.0	843	$1,850	$2.19	43d	1	0.97mi
615 W Dallas Ave Apt A-16 McAllen, TX	2.0	2.0	1069	$2,350	$2.20	21d	1	0.97mi
813 S Bicentennial Blvd McAllen, TX	3.0	2.5	1429	$2,000	$1.40	43d	1	0.99mi
604 S 16th St Apt 5 McAllen, TX	1.0	1.0	760	$750	$0.99	23d	1	1.03mi
705 E Myrtle Beach Ave Unit 3 McAllen, TX	2.0	2.0	965	$1,200	$1.24	23d	1	1.13mi
700 E Myrtle Beach Ave Unit 1 McAllen, TX	2.0	2.0	900	$1,200	$1.33	43d	1	1.13mi
901 E Yuma Ave McAllen, TX	1.0–2.0	1.0–2.0	900	$1,500	$1.67	14d	3	1.22mi
901 E Yuma Ave McAllen, TX	1.0–2.0	1.0–2.0	900	$1,500	$1.67	43d	5	1.22mi
2108 Galveston Ave W Unit 5 McAllen, TX	3.0	2.5	1064	$1,350	$1.27	43d	1	1.23mi
2108 Galveston Ave W Unit 4 McAllen, TX	3.0	2.5	1064	$1,500	$1.41	43d	1	1.23mi
2114 Galveston Ave W Unit 3 McAllen, TX	3.0	2.5	1064	$1,350	$1.27	43d	1	1.24mi
800 E Dallas Ave Unit 9 McAllen, TX	2.0	2.0	1045	$800	$0.77	43d	1	1.41mi
1205 E Olympia Ave Unit 2 McAllen, TX	2.0	2.5	1100	$1,300	$1.18	43d	1	1.44mi
900 E Dallas Ave #17 McAllen, TX	2.0	2.0	1367	$1,450	$1.06	43d	1	1.44mi
900 E Dallas Ave Unit UT3 McAllen, TX	3.0	2.0	1371	$1,550	$1.13	14d	1	1.44mi
3005 S K Center St #4 McAllen, TX	3.0	3.0	1375	$1,250	$0.91	43d	1	1.45mi
3004 S L St #4 McAllen, TX	3.0	3.0	1375	$1,250	$0.91	43d	1	1.45mi
1418 Beech Ave #16 McAllen, TX	3.0	2.0	980	$950	$0.97	23d	1	1.48mi
3012 S L St Unit 4 McAllen, TX	2.0	2.5	1457	$1,150	$0.79	43d	1	1.48mi
1305 E Olympia Ave Unit A McAllen, TX	2.0	1.5	1274	$1,250	$0.98	43d	1	1.48mi
1413 Keeton Ave E Unit 1372330P McAllen, TX	2.0	2.0	1194	$4,401	$3.69	18d	1	1.49mi
1413 Keeton Ave Apt 25 McAllen, TX	3.0	2.0	1400	$1,400	$1.00	23d	1	1.49mi
3002 S L Ln #4 McAllen, TX	2.0	2.5	1449	$1,550	$1.07	14d	1	1.49mi
1204 E Pineridge Ave Unit 1 McAllen, TX	3.0	2.5	1313	$1,275	$0.97	23d	1	1.50mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $117,500 Active 157 DOM
2. 2026-06-17
   days on market $117,500 Active 156 DOM
3. 2026-06-16
   days on market $117,500 Active 155 DOM
4. 2026-06-15
   days on market $117,500 Active 154 DOM
5. 2026-06-14
   days on market $117,500 Active 152 DOM
6. 2026-06-10
   days on market $117,500 Active 149 DOM
7. 2026-06-09
   days on market $117,500 Active 148 DOM
8. 2026-06-08
   days on market $117,500 Active 147 DOM
9. 2026-06-07
   days on market $117,500 Active 146 DOM
10. 2026-06-05
    days on market $117,500 Active 143 DOM
11. 2026-06-03
    days on market $117,500 Active 142 DOM
12. 2026-06-02
    days on market $117,500 Active 141 DOM
13. 2026-06-01
    days on market $117,500 Active 140 DOM
14. 2026-05-31
    days on market $117,500 Active 139 DOM
15. 2026-05-31
    days on market $117,500 Active 138 DOM
16. 2026-05-18
    status Active 871-char remark

    Show marketing remark (871 chars)

    Well-maintained 2-bedroom, 2-bath condominium located in a highly desirable central McAllen area, within walking distance to La Plaza Mall, restaurants, and retail, and just minutes from major hospitals and medical centers. This second-floor unit offers a functional layout with tile flooring throughout, spacious bedrooms, and a comfortable living area suitable for primary residence, extended stays, or second-home use. Property has been utilized as a short-term rental with documented historical performance. Buyer to independently verify all income, expenses, zoning, HOA regulations, permits, and short-term rental eligibility. No representations are made regarding future rental income. Walkable access to shopping and dining, combined with proximity to medical facilities and main thoroughfares, makes this property a versatile option in a prime location.

17. 2026-05-12
    historical Option 871-char remark

    Show marketing remark (871 chars)

    Well-maintained 2-bedroom, 2-bath condominium located in a highly desirable central McAllen area, within walking distance to La Plaza Mall, restaurants, and retail, and just minutes from major hospitals and medical centers. This second-floor unit offers a functional layout with tile flooring throughout, spacious bedrooms, and a comfortable living area suitable for primary residence, extended stays, or second-home use. Property has been utilized as a short-term rental with documented historical performance. Buyer to independently verify all income, expenses, zoning, HOA regulations, permits, and short-term rental eligibility. No representations are made regarding future rental income. Walkable access to shopping and dining, combined with proximity to medical facilities and main thoroughfares, makes this property a versatile option in a prime location.

18. 2026-01-12
    price $117,500 871-char remark

    Show marketing remark (871 chars)

    Well-maintained 2-bedroom, 2-bath condominium located in a highly desirable central McAllen area, within walking distance to La Plaza Mall, restaurants, and retail, and just minutes from major hospitals and medical centers. This second-floor unit offers a functional layout with tile flooring throughout, spacious bedrooms, and a comfortable living area suitable for primary residence, extended stays, or second-home use. Property has been utilized as a short-term rental with documented historical performance. Buyer to independently verify all income, expenses, zoning, HOA regulations, permits, and short-term rental eligibility. No representations are made regarding future rental income. Walkable access to shopping and dining, combined with proximity to medical facilities and main thoroughfares, makes this property a versatile option in a prime location.

19. 2026-01-12
    listed $110,000 Active 871-char remark

    Show marketing remark (871 chars)

    Well-maintained 2-bedroom, 2-bath condominium located in a highly desirable central McAllen area, within walking distance to La Plaza Mall, restaurants, and retail, and just minutes from major hospitals and medical centers. This second-floor unit offers a functional layout with tile flooring throughout, spacious bedrooms, and a comfortable living area suitable for primary residence, extended stays, or second-home use. Property has been utilized as a short-term rental with documented historical performance. Buyer to independently verify all income, expenses, zoning, HOA regulations, permits, and short-term rental eligibility. No representations are made regarding future rental income. Walkable access to shopping and dining, combined with proximity to medical facilities and main thoroughfares, makes this property a versatile option in a prime location.

20. 2025-08-27
    price $110,000
21. 2024-10-03
    listed $117,000 Active

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,393
• − Mortgage interest: −$6,582
• − Property taxes: −$1,762
• − Insurance: −$588
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − HOA: −$1,500
• − Depreciation: −$3,418
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $2,314/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

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bath condominium is in good condition with minimal repairs needed. It offers a functional layout and is located in a highly desirable central McAllen area. Updates to the kitchen and adding smart home features can significantly increase its resale and rental value.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and interior aesthetics.
• Both Updating countertops and appliances — Modernizing the kitchen can attract more buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers and renters.
• Both Adding smart home features — Smart home features can increase the home's value and attract tech-savvy buyers and renters.
• Both Upgrading lighting fixtures — Modern lighting fixtures can improve the home's ambiance and increase its value.
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and attract eco-conscious buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and interior aesthetics. ↑
• Both Updating countertops and appliances — Modernizing the kitchen can attract more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase the home's value and attract tech-savvy buyers and renters. ↑
• Both Upgrading lighting fixtures — Modern lighting fixtures can improve the home's ambiance and increase its value. ↑
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and attract eco-conscious buyers and renters. ↑

ⓘ 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: Mcallen ISD
• NCES district ID: 4829670
• Math proficiency: 34% ▼ -22.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $40,805
• Composite: 33.16/100
• National rank: #5551
• State rank: #440 of 826 in TX

Livability — McAllen

• Score: 76/100
• State rank: #119
• US rank: #3771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McAllen, TX
• County: Hidalgo County · 623,128 people
• City population: 144,650
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 22,621
• Household income: $53,322
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 762.0

Population outlook (Hidalgo County) Hauer SSP2

• Today (2025): 955,232 people
• By 2030: 1,009,774 · +5.7%
• By 2040: 1,120,332 · +17.3%
• By 2050: 1,225,036 · +28.2%
• By 2075: 1,439,189 · +50.7%
• By 2100: 1,533,429 · +60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 34% White 3% Asian 1%
• Hispanic origin (detail): Mexican 88%
• Common ancestry: Lithuanian 2%
• Foreign-born: 29% · Canada
• Languages at home: 13% English-only · Spanish 86%

Political lean MEDSL · Hidalgo

• 2024 margin: Toss-up / Even · D 48.1% · R 51.0%
• 2008→2024 swing: -41.6pp toward R · 2008: 38.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+17.1 2016: D+40.5 2012: D+41.8 2008: D+38.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.15%
• Current HPI: 208.4757
• Rent YoY: ▼ -4.21%
• Metro: McAllen-Edinburg-Mission, 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

+0.4% since first listed

6 events — show timeline

• 2026-05-18 Relisted — MCALLENMLS
• 2026-05-12 Contingent — MCALLENMLS
• 2026-01-12 Price Changed $117,500 MCALLENMLS
• 2026-01-12 Listed $110,000 MCALLENMLS
• 2025-08-27 Price Changed $110,000 MCALLENMLS
• 2024-10-03 Listed $117,000 MCALLENMLS