3209 Briggs Rd · Midway South, TX 78596

$484,900

None bd · None ba · 4,175 sqft · MultiFamily · 7 Days on market

Built 2025 Excellent condition 10,079 sqft lot $116/sqft · at area comps Est $485k · at est. $21/mo HOA · 2% of rent ↓ 1% since listing

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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 +17.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.8/10.0
• Condition / age +4.8/5.0
• Appreciation +4.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Newer Construction – Turnkey Investment Opportunity! Built in 2025, this fully occupied fourplex consists of two separate buildings, each housing two units. The property includes two spacious 3 bed / 2 bath units and two 2 bed / 2 bath units, offering a desirable mix for a stable tenant base. All units are currently leased, generating a strong total monthly income of $4,825. With modern construction, separate structures, and low-maintenance appeal, this property is ideal for investors seeking immediate cash flow and long-term value. Conveniently located near schools, shopping, and public transportation. A solid, income-producing asset in excellent condition!

Key facts

• Modern construction
• Newer construction
• 0.23 acre lot

Tags

• NEWER CONSTRUCTION
• TURNKEY INVESTMENT OPPORTUNITY
• FULLY OCCUPIED FOURPLEX
• TWO SEPARATE BUILDINGS
• MODERN CONSTRUCTION
• LOW MAINTENANCE APPEAL

What this means for you Summary

Snapshot

• This is a 2×3bd/2ba + 2×2bd/2ba units multifamily listed at $485k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive. Per door: $92/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 $473k (2.4% below list).
• Recommended offer: $473k (2.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#1,201 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 708 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $519 of equity ($3k loan paydown + $-3k appreciation (-0.6% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $473,400 (2.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.98% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 8.5

CMA / ARV

• ARV (median comp): $485,000
• List price: $484,900
• Delta: -0.02%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Sparrow Rd	0.46mi	—/—	4,080 (-2%)	6mo	$485,000	$119	70
604 Dominion Dr	0.31mi	—/—	3,802 (-9%)	1mo	$479,000	$126	70
513 Sparrow Rd	0.49mi	—/—	4,080 (-2%)	5mo	$485,000	$119	70
2900 Delta Rd	0.35mi	—/—	3,726 (-11%)	1mo	$479,000	$129	65
705 Sparrow Rd	0.53mi	—/—	4,080 (-2%)	9mo	$495,000	$121	64
2909 Charlie Rd	0.41mi	—/—	3,802 (-9%)	3mo	$479,000	$126	64
2701 Woodpecker Rd	0.54mi	—/—	4,080 (-2%)	10mo	$535,000	$131	63
2705 Woodpecker Rd	0.56mi	—/—	4,080 (-2%)	10mo	$535,000	$131	62
801 Sparrow Rd	0.53mi	—/—	4,080 (-2%)	14mo	$510,000	$125	59
2612 Mockingbird Rd	0.46mi	—/—	4,502 (+8%)	10mo	$499,000	$111	57
2508 Mockingbird Rd	0.54mi	—/—	4,426 (+6%)	15mo	$545,000	$123	52
2608 Mockingbird Rd	0.54mi	—/—	4,502 (+8%)	19mo	$499,000	$111	46

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

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-3,833
• Equity at exit: $126,801

10-year hold

• IRR: 5.6%
• Equity multiple: 1.56×
• Total profit: $76,305
• Equity at exit: $141,654

Cash invested: $135,772 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 708
• Price-to-rent: 33.9×

Monthly cashflow live

• Estimated rent: $4,734 high
• Mortgage (P&I): −$2,543
• Tax est. 1.5%: −$606 /mo · $7,274/yr
• Insurance: −$202
• HOA: −$21
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $368

Break-even live

Break-even rent $4,268

Max offer price $484,900

Occupancy floor 87%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,384
▸ 2× units	2	2	$2,350
Total (4 units)			$4,734

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: $121,225
• Closing costs: $14,547
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 San Vicente Unit 3 Weslaco, TX	3.0	2.0	4256	$1,250	$0.29	23d	1	1.03mi
1405 San Vicente Unit 1 Weslaco, TX	3.0	2.0	4256	$1,200	$0.28	23d	1	1.03mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 12 events

1. 2026-06-18
   days on market $484,900 Active 7 DOM
2. 2026-06-17
   days on market $484,900 Active 6 DOM
3. 2026-06-16
   days on market $484,900 Active 5 DOM
4. 2026-06-15
   days on market $484,900 Active 4 DOM
5. 2026-06-15
   days on market $484,900 Active 3 DOM
6. 2026-06-13
   days on market $484,900 Active 2 DOM
7. 2026-06-12
   days on marketlisting id $484,900 Active 1 DOM
8. 2026-05-31
   days on market $484,900 Active 110 DOM
9. 2026-05-19
   price $484,900 672-char remark

   Show marketing remark (672 chars)

   Newer Construction – Turnkey Investment Opportunity! Built in 2025, this fully occupied fourplex consists of two separate buildings, each housing two units. The property includes two spacious 3 bed / 2 bath units and two 2 bed / 2 bath units, offering a desirable mix for a stable tenant base. All units are currently leased, generating a strong total monthly income of $4,825. With modern construction, separate structures, and low-maintenance appeal, this property is ideal for investors seeking immediate cash flow and long-term value. Conveniently located near schools, shopping, and public transportation. A solid, income-producing asset in excellent condition!

10. 2026-05-14
    price $485,000 672-char remark

    Show marketing remark (672 chars)

    Newer Construction – Turnkey Investment Opportunity! Built in 2025, this fully occupied fourplex consists of two separate buildings, each housing two units. The property includes two spacious 3 bed / 2 bath units and two 2 bed / 2 bath units, offering a desirable mix for a stable tenant base. All units are currently leased, generating a strong total monthly income of $4,825. With modern construction, separate structures, and low-maintenance appeal, this property is ideal for investors seeking immediate cash flow and long-term value. Conveniently located near schools, shopping, and public transportation. A solid, income-producing asset in excellent condition!

11. 2026-02-10
    listed $492,000 Active 672-char remark

    Show marketing remark (672 chars)

    Newer Construction – Turnkey Investment Opportunity! Built in 2025, this fully occupied fourplex consists of two separate buildings, each housing two units. The property includes two spacious 3 bed / 2 bath units and two 2 bed / 2 bath units, offering a desirable mix for a stable tenant base. All units are currently leased, generating a strong total monthly income of $4,825. With modern construction, separate structures, and low-maintenance appeal, this property is ideal for investors seeking immediate cash flow and long-term value. Conveniently located near schools, shopping, and public transportation. A solid, income-producing asset in excellent condition!

12. 2025-09-18
    listed $492,000 Active

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

Taxation est. · year 1

• Rental income: $56,808
• − Mortgage interest: −$27,162
• − Property taxes: −$7,274
• − Insurance: −$2,424
• − Repairs & maintenance: −$4,545
• − Management: −$4,545
• − HOA: −$252
• − Depreciation: −$14,106
• Taxable loss: −$3,499
• Est. tax savings @ 24.0%: +$840
• After-tax cash flow: $5,254/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 · 4 photos

Excellent 95/100 None rehab

This fourplex is in excellent condition with no visible repairs or maintenance needed. It offers a turnkey investment opportunity with a strong monthly income and low-maintenance appeal.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Improves property's visual appeal and marketability
• Both Addition of smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Improves property's visual appeal and marketability ↑
• Both Addition of smart home features — Enhances convenience and marketability ↑

ⓘ 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: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Midway South

• Score: 58/100
• State rank: #1201
• US rank: #21023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midway South, TX
• Population (ZIP): 38,942

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 (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

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: ▼ -0.58%
• Current HPI: 261.5117
• 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

-1.4% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $484,900 MCALLENMLS
• 2026-05-14 Price Changed $485,000 MCALLENMLS
• 2026-02-10 Listed $492,000 MCALLENMLS
• 2025-09-18 Listed $492,000 MCALLENMLS