32656 San Carlos Rd #2 · Brownsville, TX 78586

$115,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 37 Days on market

Built 1999 Fair condition 1.00 ac lot ↓ 26% 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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 acre with 3 bed 2 bath mobile home available between San Benito and Los Fresnos. A resaca is close by (behind the homes across the street of San Carlos Rd.) Metal roof, porch and carport additions, stainless steel hurricane tie downs added in 2019, storage building with carport. Schedule your appointment soon and come see this little peice of country living paradise.

Key facts

• Metal roof
• Porch
• Storage building

Tags

• 1 ACRE
• METAL ROOF
• PORCH
• CARPORT ADDITIONS
• STORAGE BUILDING
• COUNTRY LIVING PARADISE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.0% in Brownsville — 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 79/100 on livability (#62 in TX, #2,311 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities D, crime D-.
• 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.
• Market conditions: 441 active listings in the ZIP; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.45%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,178
• Equity at exit: $17,147

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $15,031
• Equity at exit: $9,943

Cash invested: $32,200 (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 78586

• Home prices YoY: -24.9%
• Active inventory: 441
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $227

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 77%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-18
   historical Option 371-char remark

   Show marketing remark (371 chars)

   1 acre with 3 bed 2 bath mobile home available between San Benito and Los Fresnos. A resaca is close by (behind the homes across the street of San Carlos Rd.) Metal roof, porch and carport additions, stainless steel hurricane tie downs added in 2019, storage building with carport. Schedule your appointment soon and come see this little peice of country living paradise.

2. 2026-05-02
   status Active 371-char remark

   Show marketing remark (371 chars)

   1 acre with 3 bed 2 bath mobile home available between San Benito and Los Fresnos. A resaca is close by (behind the homes across the street of San Carlos Rd.) Metal roof, porch and carport additions, stainless steel hurricane tie downs added in 2019, storage building with carport. Schedule your appointment soon and come see this little peice of country living paradise.

3. 2026-03-30
   status Pending 371-char remark

   Show marketing remark (371 chars)

   1 acre with 3 bed 2 bath mobile home available between San Benito and Los Fresnos. A resaca is close by (behind the homes across the street of San Carlos Rd.) Metal roof, porch and carport additions, stainless steel hurricane tie downs added in 2019, storage building with carport. Schedule your appointment soon and come see this little peice of country living paradise.

4. 2026-03-16
   listed $115,000 Active 371-char remark

   Show marketing remark (371 chars)

   1 acre with 3 bed 2 bath mobile home available between San Benito and Los Fresnos. A resaca is close by (behind the homes across the street of San Carlos Rd.) Metal roof, porch and carport additions, stainless steel hurricane tie downs added in 2019, storage building with carport. Schedule your appointment soon and come see this little peice of country living paradise.

5. 2025-06-05
   price $120,000
6. 2025-04-25
   price $130,000
7. 2025-03-07
   price $140,000
8. 2025-01-08
   listed $155,000 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $15,515
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,345
• Taxable income: $945
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $2,493/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to update the kitchen and bathroom, paint the interior and exterior, and replace the carpeted flooring. These updates will significantly increase its value for both resale and rental purposes.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — outdated and may need replacement
• Moderate exterior siding — weathered and may need repainting or replacement
• Minor HVAC system — may need cleaning or minor repairs

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters
• Both replace outdated bathroom fixtures — modernizing bathroom will appeal to both buyers and renters
• Both paint interior walls and exterior siding — fresh paint will improve curb appeal and interior aesthetics
• Both replace carpeted flooring with hardwood or tile — hardwood or tile flooring will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · outdated and may need replacement	Moderate	$3,000–15,000
exterior siding · weathered and may need repainting or replacement	Moderate	$3,000–15,000
HVAC system · may need cleaning or minor repairs	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters ↑
• Both replace outdated bathroom fixtures — modernizing bathroom will appeal to both buyers and renters ↑
• Both paint interior walls and exterior siding — fresh paint will improve curb appeal and interior aesthetics ↑
• Both replace carpeted flooring with hardwood or tile — hardwood or tile flooring will increase both resale and rental value ↑

ⓘ 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: Los Fresnos CISD
• NCES district ID: 4828290
• Math proficiency: 34% ▼ -30.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $42,586
• Composite: 32.92/100
• National rank: #5601
• State rank: #444 of 826 in TX

Livability — Brownsville

• Score: 79/100
• State rank: #62
• US rank: #2311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 212,132
• Population (ZIP): 49,103

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (93%)
• Race & ethnicity: Hispanic / Latino 93% Two or more races 42% White 6%
• Hispanic origin (detail): Mexican 90%
• Foreign-born: 23% · Canada
• Languages at home: 29% English-only · Spanish 70%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.37%
• Current HPI: 188.147
• 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

-25.8% since first listed

8 events — show timeline

• 2026-05-18 Contingent — MCALLENMLS
• 2026-05-02 Relisted — MCALLENMLS
• 2026-03-30 Pending — MCALLENMLS
• 2026-03-16 Listed $115,000 MCALLENMLS
• 2025-06-05 Price Changed $120,000 MCALLENMLS
• 2025-04-25 Price Changed $130,000 MCALLENMLS
• 2025-03-07 Price Changed $140,000 MCALLENMLS
• 2025-01-08 Listed $155,000 MCALLENMLS