2206 Smith · Laredo, TX 78046

$63,000

3 bd · 1.0 ba · 702 sqft · SingleFamily public records · 264 Days on market

Built 1979

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer-Upper / Investor Project / As per Webb CAD it has 3 houses. That is unreliable data, as per owner, the property has only 1 fixer upper 2 bedrooms / 1 bath. The other 2 previous properties are good to fully be reconstructed. Good Point to this multi-unit property is that all water and sewer lines are intact for an investor project. There is only 1 water and 1 electricity meter for the entire property.

Key facts

• 2 parking spots
• Built 1979
• Listed 263 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.1% in Laredo — 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 73/100 on livability (#227 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Laredo ISD (urban): math 21% / reading 29% proficiency, ranked #739 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: H B Zachry El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 592 students, 95% FRL); Joaquin Cigarroa Middle (math 15% / reading 24%, grade F, #1,445 of 1,662 statewide, top 88%, 1,104 students, 100% FRL); Dr Leo Cigarroa H S (math 21% / reading 21%, grade F, #1,385 of 1,632 statewide, top 85%, 1,472 students, 98% FRL) — zoned schools average 97% FRL vs 82% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 485 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,448 units permitted in Webb County in 2024 (245 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Webb County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Watch-outs: property tax is 4.2% of price.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.31%
• DSCR: 1.73
• GRM: 5.1

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $5,167
• Equity at exit: $9,394

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $24,579
• Equity at exit: $5,447

Cash invested: $17,640 (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 78046

• Home prices YoY: -13.0%
• Active inventory: 485
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,031 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$218 /mo · $2,619/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $240

Break-even live

Break-even rent $728

Max offer price $63,000

Occupancy floor 72%

Sensitivity live

Price	-10% $275	-5% $258	+0% $240	+5% $222	+10% $204
Rent	-10% $158	-5% $199	+0% $240	+5% $281	+10% $321
Rate	-1.0pp $272	-0.5pp $256	base $240	+0.5pp $223	+1.0pp $207

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1219 Truman Ln Laredo, TX	2.0	1.0	628	$1,050	$1.67	45d	1	0.67mi
2202 Blaine St Laredo, TX	2.0	1.0	648	$1,000	$1.54	45d	1	1.14mi

Listing history 20 events

1. 2026-06-21
   days on market $63,000 Active 264 DOM
2. 2026-06-21
   days on market $63,000 Active 263 DOM
3. 2026-06-18
   days on market $63,000 Active 261 DOM
4. 2026-06-17
   days on market $63,000 Active 260 DOM
5. 2026-06-16
   days on market $63,000 Active 259 DOM
6. 2026-06-15
   days on market $63,000 Active 258 DOM
7. 2026-06-13
   days on market $63,000 Active 256 DOM
8. 2026-06-12
   days on market $63,000 Active 255 DOM
9. 2026-06-10
   days on market $63,000 Active 252 DOM
10. 2026-06-08
    days on market $63,000 Active 251 DOM
11. 2026-06-08
    days on market $63,000 Active 250 DOM
12. 2026-06-07
    days on market $63,000 Active 249 DOM
13. 2026-06-03
    days on market $63,000 Active 246 DOM
14. 2026-06-02
    days on market $63,000 Active 245 DOM
15. 2026-06-01
    days on market $63,000 Active 244 DOM
16. 2026-05-31
    days on market $63,000 Active 243 DOM
17. 2025-12-24
    listed $63,000 Active 409-char remark

    Show marketing remark (409 chars)

    Fixer-Upper / Investor Project / As per Webb CAD it has 3 houses. That is unreliable data, as per owner, the property has only 1 fixer upper 2 bedrooms / 1 bath. The other 2 previous properties are good to fully be reconstructed. Good Point to this multi-unit property is that all water and sewer lines are intact for an investor project. There is only 1 water and 1 electricity meter for the entire property.

18. 2025-09-30
    listed $63,000 New 209-char remark

    Show marketing remark (209 chars)

    Fixer-Upper / Investor Project / As per Webb CAD it has 3 houses. Properties needs repairs. Multi-Unit property shares one water meter and separate electrical meters, meters are intact for an investor project.

19. 2025-09-06
    listed $63,000 Active
20. 2025-04-17
    listed $63,000 Active

ⓘ 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: $2,619 · $218/mo
• Projected year-2 tax: $2,619 · $218/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $12,375
• − Mortgage interest: −$3,529
• − Property taxes: −$2,619
• − Insurance: −$315
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$1,833
• Taxable income: $2,099
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $2,374/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: Laredo ISD
• NCES district ID: 4826790
• Math proficiency: 21% ▼ -34.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $25,655
• Composite: 19.7/100
• National rank: #8724
• State rank: #739 of 826 in TX

Livability — Laredo

• Score: 73/100
• State rank: #227
• US rank: #5399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laredo, TX
• City population: 67,333
• Population (ZIP): 71,965

Population outlook (Webb County) Hauer SSP2

• Today (2025): 301,387 people
• By 2030: 316,307 · +5.0%
• By 2040: 345,636 · +14.7%
• By 2050: 370,647 · +23.0%
• By 2075: 413,907 · +37.3%
• By 2100: 416,458 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 53% White 2%
• Hispanic origin (detail): Mexican 92%
• Foreign-born: 22% · Canada
• Languages at home: 9% English-only · Spanish 91%

Political lean MEDSL · Webb

• 2024 margin: Toss-up / Even · D 48.5% · R 50.7%
• 2008→2024 swing: -45.6pp toward R · 2008: 43.4pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+23.3 2016: D+51.6 2012: D+54.0 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.36%
• Current HPI: 196.8153
• 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

+0.0% since first listed

4 events — show timeline

• 2025-12-24 Listed $63,000 LAOR
• 2025-09-30 Listed $63,000 LERA
• 2025-09-06 Listed $63,000 LAOR
• 2025-04-17 Listed $63,000 LAOR

Property tax history

+5.4%/yr

Latest (2025): $2,619 · -1.5% YoY. Source: county tax records.