48 North St · Brownsville, TX 78521

$475,000

None bd · None ba · 2,808 sqft · MultiFamily · 327 Days on market

Built 2006 Fair condition 9,425 sqft lot $169/sqft · 319% above area ↓ 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).

• Cash flow +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.2/10.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

Key facts

• 9,425 sq ft lot
• Built 2006
• Listed 327 days

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $475k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive. Per door: $58/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 $472k (0.7% below list).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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-.
• Brownsville ISD (urban): math 20% / reading 34% proficiency, ranked #710 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 365 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• At $4,716/mo this rent would consume 127% of the median local household income ($45k/yr) (locally 2682% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $133k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 327 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $514k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 327 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $113,348
• List price: $475,000
• Delta: 319.06%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.75×
• Total profit: $-33,350
• Equity at exit: $70,824

10-year hold

• IRR: 8.7%
• Equity multiple: 1.82×
• Total profit: $108,926
• Equity at exit: $41,069

Cash invested: $133,000 (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 78521

• Home prices YoY: -26.0%
• Rents YoY: 8.2%
• Active inventory: 365
• Price-to-rent: 42.0×

Monthly cashflow live

• Estimated rent: $4,716 high
• Mortgage (P&I): −$2,491
• Tax est. 1.5%: −$594 /mo · $7,125/yr
• Insurance: −$198
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$990
• Net cashflow: $291

Break-even live

Break-even rent $4,348

Max offer price $475,000

Occupancy floor 89%

Sensitivity live

Price	-10% $619	-5% $455	+0% $291	+5% $127	+10% $-37
Rent	-10% $-82	-5% $105	+0% $291	+5% $477	+10% $664
Rate	-1.0pp $530	-0.5pp $412	base $291	+0.5pp $168	+1.0pp $43

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$4,715
Total (5 units)			$4,716

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
465 Retama St Brownsville, TX	3.0	2.0	2686	$2,500	$0.93	45d	1	1.31mi
30 W Monroe St Brownsville, TX	3.0	2.0	2191	$1,500	$0.68	22d	1	1.35mi
63 N Tupelo Cir Brownsville, TX	3.0	2.0	2055	$2,200	$1.07	22d	1	1.38mi

Listing history 23 events

1. 2026-06-18
   days on market $475,000 Active 327 DOM
2. 2026-06-17
   days on market $475,000 Active 326 DOM
3. 2026-06-16
   days on market $475,000 Active 325 DOM
4. 2026-06-15
   days on market $475,000 Active 324 DOM
5. 2026-06-14
   days on market $475,000 Active 322 DOM
6. 2026-06-13
   days on market $475,000 Active 321 DOM
7. 2026-06-10
   days on market $475,000 Active 319 DOM
8. 2026-06-09
   days on market $475,000 Active 318 DOM
9. 2026-06-09
   days on market $475,000 Active 317 DOM
10. 2026-06-07
    days on market $475,000 Active 316 DOM
11. 2026-06-05
    days on market $475,000 Active 313 DOM
12. 2026-06-03
    days on market $475,000 Active 312 DOM
13. 2026-06-02
    days on market $475,000 Active 311 DOM
14. 2026-06-01
    days on market $475,000 Active 310 DOM
15. 2026-05-31
    days on market $475,000 Active 309 DOM
16. 2026-05-30
    days on market $475,000 Active 308 DOM
17. 2026-01-26
    status Active 299-char remark

    Show marketing remark (299 chars)

    Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

18. 2026-01-26
    price $475,000 299-char remark

    Show marketing remark (299 chars)

    Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

19. 2026-01-04
    historical 299-char remark

    Show marketing remark (299 chars)

    Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

20. 2025-11-18
    price $520,000 299-char remark

    Show marketing remark (299 chars)

    Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

21. 2025-07-04
    listed $989,000 Active 299-char remark

    Show marketing remark (299 chars)

    Investors opportunity ! Five Units Location is great and near major corridore roads Boca Chica Blvd and Expressay. Anchor stores near the properties. Some TLC needed . Property 48 North Unit 1 $850, Unit 2 $850, Unit 3 $850 bills included, Unit 4 $750 bills included , Unit 5 $1,100 bills included.

22. 2021-12-10
    soldstatus 230-char remark

    Show marketing remark (230 chars)

    Attention investors, these are two properties must be sold together and the price is for both. They are walking distance to Boca Chica. Seller is willing to owner finance at a 4.5% interest. .. .. .please call LA for more details.

23. 2021-06-12
    listed $580,000 230-char remark

    Show marketing remark (230 chars)

    Attention investors, these are two properties must be sold together and the price is for both. They are walking distance to Boca Chica. Seller is willing to owner finance at a 4.5% interest. .. .. .please call LA for more details.

ⓘ 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 AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,592
• − Mortgage interest: −$26,607
• − Property taxes: −$7,125
• − Insurance: −$4,200
• − Repairs & maintenance: −$4,527
• − Management: −$4,527
• − Depreciation: −$13,818
• Taxable loss: −$4,213
• Est. tax savings @ 24.0%: +$1,011
• After-tax cash flow: $4,503/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 40/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. Exterior painting and flooring updates are critical to enhance curb appeal and interior living spaces.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major tile flooring — Severe wear and tear
• Major exterior painting — Needs repainting

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves living space and resale value
• Both Kitchen and bathroom updates — Modernizes spaces and increases appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
tile flooring · Severe wear and tear	Major	$15,000–50,000
exterior painting · Needs repainting	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves living space and resale value ↑
• Both Kitchen and bathroom updates — Modernizes spaces and increases appeal ↑

ⓘ 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: Brownsville ISD
• NCES district ID: 4811680
• Math proficiency: 20% ▼ -36.00%
• Reading proficiency: 34% ▼ -13.00%
• Median HH income: $30,490
• Composite: 21.8/100
• National rank: #8249
• State rank: #710 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

• Census place: Brownsville, TX
• County: Cameron County · 310,734 people
• City population: 212,132
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 87,380
• Household income: $44,509
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 2682.0

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 45% White 3%
• Hispanic origin (detail): Mexican 91%
• Foreign-born: 30% · Canada
• Languages at home: 12% English-only · Spanish 88%

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: ▼ -81.45%
• Current HPI: 232.1072
• Rent YoY: ▲ 8.19%
• Metro: Brownsville-Harlingen, 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

-18.1% since first listed

7 events — show timeline

• 2026-01-26 Relisted — RGVMLS
• 2026-01-26 Price Changed $475,000 RGVMLS
• 2026-01-04 Delisted — RGVMLS
• 2025-11-18 Price Changed $520,000 RGVMLS
• 2025-07-04 Listed $989,000 RGVMLS
• 2021-12-10 Sold (MLS) — RGVMLS
• 2021-06-12 Listed $580,000 RGVMLS