3122 Sonora Dr

Llano Grande, TX 78596

$98,500C-

2 bd · 2.0 ba · 952 sqft · Built 1979 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,186/mo
• Mortgage (P&I): −$517
• Tax + insurance: −$151
• HOA: −$63
• Vac / Maint / Mgmt: −$249
• Net cashflow: $207/mo
• Annual: $2,487/yr
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• 1% rule: 1.20%
• Cash to close: $27,580

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $98k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $106 of equity ($681 loan paydown + $-575 appreciation (-0.6% local appreciation)).
• Location reads 56/100 on livability (#1,288 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B; Watch: amenities F, commute F, employment 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.
• Zoned schools: Dr R E Margo El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 914 students, 87% FRL); Armando Cuellar Middle (math 22% / reading 31%, grade F, #1,200 of 1,662 statewide, top 73%, 626 students, 88% FRL); Weslaco East H S (math 24% / reading 26%, grade F, #1,250 of 1,632 statewide, top 77%, 2,004 students, 86% FRL) — zoned schools average 87% FRL vs 59% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 710 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y ago 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.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.
• 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.