2709 Woodpecker Rd

Weslaco, TX 78596

$489,000C-

8 bd · 8.8 ba · — sqft · Built 2025 · MultiFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,756/mo
• Mortgage (P&I): −$2,564
• Tax + insurance: −$815
• HOA: −$50
• Vac / Maint / Mgmt: −$999
• Net cashflow: $328/mo
• Annual: $3,934/yr
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• 1% rule: 0.97%
• Cash to close: $136,920

Investor read

• This is a 4 × 2-bed/2.2-bath units multifamily listed at $489k. Condition is rated excellent.
• At list price, monthly cash flow is $328 ($4k/yr) — positive. Per door: $82/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 $476k (2.7% below list).
• It's been on market 50 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $474k (3.0% below list) — sets the bar for market timing.
• In year one you build about $524 of equity ($3k loan paydown + $-3k appreciation (-0.6% local appreciation)).
• Location reads 72/100 on livability (#277 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities 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; 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.
• 4 sale attempts since 2y 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.
• Cap rate 7.1% vs local median 4.1% in Weslaco — 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.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• 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?
• 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.