35435 Marshall Hutts Rd Unit A-8

La Tina Ranch, TX 78583

$189,000D-

2 bd · 2.0 ba · 1,051 sqft · Built 1983 · Condo · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$315
• HOA: −$400
• Vac / Maint / Mgmt: −$378
• Net cashflow: $-284/mo
• Annual: $-3,410/yr
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• 1% rule: 0.95%
• Cash to close: $52,920

Investor read

• This is a 2-bed/2.0-bath condo listed at $189k. Condition is rated fair.
• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (4.8% below list).
• It's been on market 155 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($1k loan paydown + $12k appreciation (6.6% local appreciation)).
• Location reads 50/100 on livability (#1,488 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime 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.
• Watch-outs: HOA is 22% of rent.
• Market conditions: 98 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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?

Repairs flagged (vision-AI assessment)

• Moderate: exterior siding — Weathered and discolored
• Minor: interior paint — Some peeling
• Minor: kitchen appliances — Not updated