2300 Coby Dr · La Homa, TX 78574

$210,000

3 bd · 2.0 ba · 2,099 sqft · SingleFamily public records · 239 Days on market

Built 1998 0.51 ac lot $100/sqft · 9% below area Est $231k · 9% under ↓ 18% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +11.5/15.0
• Cash flow +9.2/30.0
• 1% rule +3.4/10.0
• Livability +2.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fix & Flip, Buy & Hold, Remodel & Move-In...you have options! Discover the untapped potential of 2300 Coby Dr. This property, set on half an acre, is surrounded by mature trees and features an extensive driveway, providing ample outdoor space for your vision. With a solid gate ensuring security and privacy, this is an exceptional opportunity for discerning investors.Having been vacant for two years, this home is primed for revitalization. With three garages, spacious bedrooms, and an oversized washroom, it offers a solid foundation for maximizing your investment.As the market evolves, properties like this are becoming increasingly rare. Whether your goal is to flip for profit or develop a rental, this property presents significant return potential. Don’t miss your chance to transform this space into something extraordinary. Your future investment awaits! Interior Photos coming soon.

Key facts

• Solid gate
• Three garages
• Oversized washroom

Tags

• HALF AN ACRE
• MATURE TREES
• EXTENSIVE DRIVEWAY
• SOLID GATE
• THREE GARAGES
• OVERSIZED WASHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (15.9% below list).
• Recommended offer: $177k (15.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#1,308 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• La Joya ISD (suburban): math 18% / reading 29% proficiency, ranked #759 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 474 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 40% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $6k 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 239 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,568 (15.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 9.9

CMA / ARV

• ARV (median comp): $230,711
• List price: $210,000
• Delta: -8.98%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2600 Coby Dr	0.25mi	3/2.0	2,034 (-3%)	22mo	$187,000	$92	65
7120 Margaret Dr	0.44mi	4/2.5 (+1)	1,965 (-6%)	7mo	$325,000	$165	56
8017 Red Fox Ln	0.58mi	3/3.0	2,050 (-2%)	12mo	$397,000	$194	55
7542 N La Homa Rd	0.35mi	3/2.0	2,296 (+9%)	23mo	$269,000	$117	49
8108 Coyote Dr	0.59mi	4/3.5 (+1)	1,986 (-5%)	12mo	$180,000	$91	42
2025 Saint Jude Ave	0.60mi	4/3.0 (+1)	1,804 (-14%)	24mo	$175,000	$97	20

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

Projected returns pro-forma

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

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-44,036
• Equity at exit: $31,312

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-50,982
• Equity at exit: $18,157

Cash invested: $58,800 (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 78574

• Home prices YoY: -16.1%
• Active inventory: 474
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,766 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$365 /mo · $4,376/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-159

Break-even live

Break-even rent $1,966

Max offer price $181,998

Occupancy floor —

Sensitivity live

Price	-10% $-40	-5% $-99	+0% $-159	+5% $-218	+10% $-277
Rent	-10% $-298	-5% $-228	+0% $-159	+5% $-89	+10% $-19
Rate	-1.0pp $-53	-0.5pp $-105	base $-159	+0.5pp $-213	+1.0pp $-268

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $210,000 Active 239 DOM
2. 2026-06-17
   days on market $210,000 Active 238 DOM
3. 2026-06-16
   days on market $210,000 Active 237 DOM
4. 2026-06-15
   days on market $210,000 Active 236 DOM
5. 2026-06-14
   days on market $210,000 Active 234 DOM
6. 2026-06-13
   days on market $210,000 Active 233 DOM
7. 2026-06-10
   days on market $210,000 Active 231 DOM
8. 2026-06-09
   days on market $210,000 Active 230 DOM
9. 2026-06-08
   days on market $210,000 Active 229 DOM
10. 2026-06-07
    days on market $210,000 Active 228 DOM
11. 2026-06-05
    days on market $210,000 Active 225 DOM
12. 2026-06-03
    days on market $210,000 Active 224 DOM
13. 2026-06-02
    days on market $210,000 Active 223 DOM
14. 2026-06-01
    days on market $210,000 Active 222 DOM
15. 2026-05-31
    days on market $210,000 Active 221 DOM
16. 2026-05-31
    days on market $210,000 Active 220 DOM
17. 2026-03-28
    price $210,000 913-char remark

    Show marketing remark (913 chars)

    Fix & Flip, Buy & Hold, Remodel & Move-In...you have options! Discover the untapped potential of 2300 Coby Dr. This property, set on half an acre, is surrounded by mature trees and features an extensive driveway, providing ample outdoor space for your vision. With a solid gate ensuring security and privacy, this is an exceptional opportunity for discerning investors.Having been vacant for two years, this home is primed for revitalization. With three garages, spacious bedrooms, and an oversized washroom, it offers a solid foundation for maximizing your investment.As the market evolves, properties like this are becoming increasingly rare. Whether your goal is to flip for profit or develop a rental, this property presents significant return potential. Don’t miss your chance to transform this space into something extraordinary. Your future investment awaits! Interior Photos coming soon.

18. 2026-02-23
    price $222,000 913-char remark

    Show marketing remark (913 chars)

    Fix & Flip, Buy & Hold, Remodel & Move-In...you have options! Discover the untapped potential of 2300 Coby Dr. This property, set on half an acre, is surrounded by mature trees and features an extensive driveway, providing ample outdoor space for your vision. With a solid gate ensuring security and privacy, this is an exceptional opportunity for discerning investors.Having been vacant for two years, this home is primed for revitalization. With three garages, spacious bedrooms, and an oversized washroom, it offers a solid foundation for maximizing your investment.As the market evolves, properties like this are becoming increasingly rare. Whether your goal is to flip for profit or develop a rental, this property presents significant return potential. Don’t miss your chance to transform this space into something extraordinary. Your future investment awaits! Interior Photos coming soon.

19. 2026-01-13
    soldstatus
20. 2025-10-18
    listed $255,000 Active 913-char remark

    Show marketing remark (913 chars)

    Fix & Flip, Buy & Hold, Remodel & Move-In...you have options! Discover the untapped potential of 2300 Coby Dr. This property, set on half an acre, is surrounded by mature trees and features an extensive driveway, providing ample outdoor space for your vision. With a solid gate ensuring security and privacy, this is an exceptional opportunity for discerning investors.Having been vacant for two years, this home is primed for revitalization. With three garages, spacious bedrooms, and an oversized washroom, it offers a solid foundation for maximizing your investment.As the market evolves, properties like this are becoming increasingly rare. Whether your goal is to flip for profit or develop a rental, this property presents significant return potential. Don’t miss your chance to transform this space into something extraordinary. Your future investment awaits! Interior Photos coming soon.

21. 2025-01-24
    soldstatus
22. 2018-06-28
    soldstatus
23. 2001-12-17
    soldstatus

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $4,376 · $365/mo
• Projected year-2 tax: $4,376 · $365/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,188
• − Mortgage interest: −$11,763
• − Property taxes: −$4,376
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$6,109
• Taxable loss: −$5,500
• Est. tax savings @ 24.0%: +$1,320
• After-tax cash flow: $-582/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.

Schools (NCES district)

• District: La Joya ISD
• NCES district ID: 4826130
• Math proficiency: 18% ▼ -35.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $27,845
• Composite: 18.65/100
• National rank: #8891
• State rank: #759 of 826 in TX

Livability — La Homa

• Score: 56/100
• State rank: #1308
• US rank: #22643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Homa, TX
• County: Hidalgo County · 623,128 people
• City population: 62,456
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 62,456
• Household income: $52,393
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 803.0

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 62% White 2%
• Hispanic origin (detail): Mexican 93%
• Foreign-born: 33% · Canada
• Languages at home: 12% English-only · Spanish 87%

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: ▼ -44.13%
• Current HPI: 230.3323
• Rent YoY: —
• 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

-17.6% since first listed

7 events — show timeline

• 2026-03-28 Price Changed $210,000 MCALLENMLS
• 2026-02-23 Price Changed $222,000 MCALLENMLS
• 2026-01-13 Sold (Public Records) — Public Records
• 2025-10-18 Listed $255,000 MCALLENMLS
• 2025-01-24 Sold (Public Records) — Public Records
• 2018-06-28 Sold (Public Records) — Public Records
• 2001-12-17 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $4,376 · -2.6% YoY. Source: county tax records.