2302 Paris St · La Homa, TX 78574

$139,900

3 bd · 2.0 ba · 1,275 sqft · SingleFamily public records · 156 Days on market

Built 2016 7,603 sqft lot $110/sqft · 31% below area Est $203k · 31% under ↓ 10% 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.2/10.0
• Livability +2.8/5.0
• 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

Welcome home to this charming and cozy 2-bedroom residence, perfectly suited for comfortable everyday living. This well-maintained home offers a functional layout filled with natural light and is truly move-in ready for its next owners. Conveniently located near major hospitals and ERs, popular restaurants, grocery stores, and a variety of retail options, daily errands and dining are just minutes away. Enjoy the benefit of low property taxes and step outside to a generously sized backyard—ideal for entertaining, pets, gardening, or future outdoor projects. A wonderful opportunity to own a home that combines comfort, convenience, and value.

Key facts

• 7,603 sq ft lot
• Built 2016
• Listed 156 days

Tags

• GENEROUSLY SIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.5% in La Homa — 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 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; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• This rent runs 36% 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 $967 of loan paydown is wiped out by about $4k 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 156 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (median comp): $203,402
• List price: $139,900
• Delta: -31.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3603 Tulipan St	0.44mi	3/2.0	1,274 (-0%)	10mo	$174,000	$137	71
3013 Crisantema St	0.70mi	3/2.0	1,262 (-1%)	3mo	$205,000	$162	64
1908 W 42nd St	0.69mi	3/2.0	1,252 (-2%)	10mo	$169,000	$135	56
2106 Azalea St	0.42mi	3/2.0	1,330 (+4%)	22mo	$190,000	$143	55
3710 Tulipan St	0.48mi	3/2.0	1,352 (+6%)	16mo	$149,000	$110	54
3606 Crisantema St	0.51mi	3/2.0	1,295 (+2%)	24mo	$194,500	$150	54
3602 Crisantema St	0.51mi	3/2.0	1,252 (-2%)	23mo	$229,900	$184	54
2111 W 42 1/2 St	0.60mi	3/2.0	1,297 (+2%)	24mo	$209,000	$161	50
3100 Tulipan St	0.67mi	3/2.0	1,296 (+2%)	23mo	$229,400	$177	46

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,671
• Equity at exit: $20,860

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $14,897
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$734
• Tax from tax record: −$198 /mo · $2,378/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $251

Break-even live

Break-even rent $1,253

Max offer price $139,900

Occupancy floor 79%

Sensitivity live

Price	-10% $330	-5% $290	+0% $251	+5% $211	+10% $171
Rent	-10% $127	-5% $189	+0% $251	+5% $313	+10% $375
Rate	-1.0pp $321	-0.5pp $286	base $251	+0.5pp $214	+1.0pp $177

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3206 N Moorefield Rd Mission, TX	2.0	1.5	1042	$895	$0.86	24d	4	0.37mi
2104 Magnolia St Mission, TX	3.0	2.5	1382	$1,500	$1.09	45d	1	0.45mi
2305 W Mile 3 Rd Mission, TX	2.0	2.0	980	$970	$0.99	45d	1	0.54mi
1804 Ramirez St Unit 1 Mission, TX	3.0	2.0	1020	$1,250	$1.23	24d	1	0.70mi
1805 Ramirez St Unit 4 Mission, TX	3.0	2.0	1020	$1,095	$1.07	45d	1	0.72mi
1806 W 31st 1/2 St Mission, TX	4.0	2.0	1509	$1,800	$1.19	22d	1	0.77mi
3102 Gabriel St Mission, TX	3.0	2.0	1370	$1,800	$1.31	45d	1	0.83mi
3006 Gabriel St Mission, TX	3.0	2.0	1433	$1,600	$1.12	45d	1	0.85mi
2903 Estevan St #3 Mission, TX	3.0	2.0	1044	$1,400	$1.34	15d	1	1.01mi
2905 Estevan St #3 Mission, TX	2.0	2.0	1044	$1,300	$1.25	24d	1	1.01mi
2905 Estevan St #4 Mission, TX	3.0	2.0	1044	$1,300	$1.25	45d	1	1.01mi
2903 Estevan St #4 Mission, TX	3.0	2.0	1056	$1,399	$1.32	20d	1	1.01mi
1809 Ramirez St Unit 2 Mission, TX	3.0	2.0	1033	$1,300	$1.26	45d	1	1.03mi

Listing history 21 events

1. 2026-06-18
   days on market $139,900 Active 156 DOM
2. 2026-06-17
   days on market $139,900 Active 155 DOM
3. 2026-06-16
   days on market $139,900 Active 154 DOM
4. 2026-06-15
   days on market $139,900 Active 153 DOM
5. 2026-06-14
   days on market $139,900 Active 151 DOM
6. 2026-06-13
   days on market $139,900 Active 150 DOM
7. 2026-06-10
   days on market $139,900 Active 148 DOM
8. 2026-06-09
   days on market $139,900 Active 147 DOM
9. 2026-06-08
   days on market $139,900 Active 146 DOM
10. 2026-06-07
    days on market $139,900 Active 145 DOM
11. 2026-06-05
    days on market $139,900 Active 142 DOM
12. 2026-06-03
    days on market $139,900 Active 141 DOM
13. 2026-06-02
    days on market $139,900 Active 140 DOM
14. 2026-06-01
    days on market $139,900 Active 139 DOM
15. 2026-05-31
    days on market $139,900 Active 138 DOM
16. 2026-05-31
    days on market $139,900 Active 137 DOM
17. 2026-04-11
    price $139,900 653-char remark

    Show marketing remark (653 chars)

    Welcome home to this charming and cozy 2-bedroom residence, perfectly suited for comfortable everyday living. This well-maintained home offers a functional layout filled with natural light and is truly move-in ready for its next owners. Conveniently located near major hospitals and ERs, popular restaurants, grocery stores, and a variety of retail options, daily errands and dining are just minutes away. Enjoy the benefit of low property taxes and step outside to a generously sized backyard—ideal for entertaining, pets, gardening, or future outdoor projects. A wonderful opportunity to own a home that combines comfort, convenience, and value.

18. 2026-03-23
    price $148,000 653-char remark

    Show marketing remark (653 chars)

    Welcome home to this charming and cozy 2-bedroom residence, perfectly suited for comfortable everyday living. This well-maintained home offers a functional layout filled with natural light and is truly move-in ready for its next owners. Conveniently located near major hospitals and ERs, popular restaurants, grocery stores, and a variety of retail options, daily errands and dining are just minutes away. Enjoy the benefit of low property taxes and step outside to a generously sized backyard—ideal for entertaining, pets, gardening, or future outdoor projects. A wonderful opportunity to own a home that combines comfort, convenience, and value.

19. 2026-01-13
    listed $155,000 Active 653-char remark

    Show marketing remark (653 chars)

    Welcome home to this charming and cozy 2-bedroom residence, perfectly suited for comfortable everyday living. This well-maintained home offers a functional layout filled with natural light and is truly move-in ready for its next owners. Conveniently located near major hospitals and ERs, popular restaurants, grocery stores, and a variety of retail options, daily errands and dining are just minutes away. Enjoy the benefit of low property taxes and step outside to a generously sized backyard—ideal for entertaining, pets, gardening, or future outdoor projects. A wonderful opportunity to own a home that combines comfort, convenience, and value.

20. 2022-10-07
    soldstatus
21. 1993-04-15
    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: $2,378 · $198/mo
• Projected year-2 tax: $2,560 · $213/mo
• Expected delta: +$182/yr (+$15/mo · 7.7%)

ⓘ 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 · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,846
• − Mortgage interest: −$7,837
• − Property taxes: −$2,378
• − Insurance: −$700
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$4,070
• Taxable income: $847
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $2,804/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

-9.7% since first listed

5 events — show timeline

• 2026-04-11 Price Changed $139,900 MCALLENMLS
• 2026-03-23 Price Changed $148,000 MCALLENMLS
• 2026-01-13 Listed $155,000 MCALLENMLS
• 2022-10-07 Sold (Public Records) — Public Records
• 1993-04-15 Sold (Public Records) — Public Records

Property tax history

+17.1%/yr

Latest (2025): $2,378 · +7.1% YoY. Source: county tax records.