345 Fan Palm Dr · Alamo, TX 78516

$89,900

3 bd · 1.0 ba · 1,420 sqft · Manufactured public records · 156 Days on market

Built 1981 1.82 ac lot $63/sqft · 23% above area Est $73k · 23% over $80/mo HOA · 6% of rent ↓ 14% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Royal Palms 55+ certified retirement community with club-house, outdoor kitchen, tables and chairs for eating and entertainment! Beautiful swimming pool plus shuffleboard and horse-shoe pits. Two lots are included with the mobile home which gives you plenty of living space. Great location near Aamo Post Office and professional strip professional center., nearby Wal-Mart and H-E-B box stores, and access to Interstate 2 and recreational activities in Lower Rio Grande Valley. Check-out Royal Palms mobile home neighborhood and see what affordable retirement living can be for you!

Key facts

• Two lots included
• Swimming pool
• Horse-shoe pits

Tags

• OUTDOOR KITCHEN
• SWIMMING POOL
• SHUFFLEBOARD
• HORSE-SHOE PITS
• TWO LOTS INCLUDED
• ACCESS TO INTERSTATE 2

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.7% in Alamo — 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 62/100 on livability (#916 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools D, crime F.
• Donna ISD (suburban): math 11% / reading 18% proficiency, ranked #821 of 826 in TX (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 350 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 31% of the median local income ($53k/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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,112 (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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.07%
• DSCR: 1.80
• GRM: 5.4

CMA / ARV

• ARV (median comp): $73,160
• List price: $89,900
• Delta: 22.88%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 Fan Palm	0.04mi	2/2.0 (-1)	1,393 (-2%)	9mo	$99,000	$71	79
400 Castle Palm Dr	0.15mi	3/2.0	1,240 (-13%)	3mo	$73,160	$59	66

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: 9.7%
• Equity multiple: 1.38×
• Total profit: $9,650
• Equity at exit: $13,404

10-year hold

• IRR: 18.9%
• Equity multiple: 2.58×
• Total profit: $39,800
• Equity at exit: $7,773

Cash invested: $25,172 (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 78516

• Home prices YoY: -6.5%
• Active inventory: 350
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$471
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$37
• HOA: −$80
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $379

Break-even live

Break-even rent $901

Max offer price $89,900

Occupancy floor 68%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 E Acacia Ave Unit 4 Alamo, TX	3.0	2.0	1040	$1,300	$1.25	23d	1	0.19mi
438 Alma Ave Alamo, TX	4.0	2.0	1392	$1,600	$1.15	14d	1	0.20mi
436 E Acacia Ave Alamo, TX	3.0	2.0	1130	$1,225	$1.08	14d	1	0.21mi
444 E Acacia Ave Unit 3 Alamo, TX	3.0	2.0	1107	$1,300	$1.17	23d	1	0.24mi
357 Pine Crk Alamo, TX	4.0	2.0	1580	$1,750	$1.11	14d	1	0.67mi
812 Santa Anna Dr Alamo, TX	2.0	2.0	1400	$2,000	$1.43	14d	1	0.71mi
1020 Palm Dr Unit 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.98mi
1036 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.98mi
1032 Palm Dr Apt 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.98mi
1122 Country Club Dr Unit 4 Alamo, TX	3.0	2.0	1060	$1,200	$1.13	14d	1	1.08mi
1233 Country Club Dr Unit 4 Alamo, TX	2.0	2.0	1099	$1,050	$0.96	43d	1	1.08mi
529 Country Club Dr Alamo, TX	3.0	2.0	1419	$1,950	$1.37	14d	1	1.12mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	23d	1	1.15mi
740 N Alamo Rd Unit 1 Alamo, TX	2.0	2.0	956	$1,200	$1.26	43d	1	1.15mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	43d	1	1.15mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.22mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.22mi
443 Medina Ln Unit 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.22mi
1020 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,275	$1.18	43d	1	1.24mi
1203 W Jasmine Ave Alamo, TX	3.0	2.0	1588	$1,500	$0.94	21d	1	1.27mi
427 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	21d	1	1.28mi
427 Frio Ln Apt 4 Alamo, TX	3.0	2.0	1118	$1,275	$1.14	44d	1	1.28mi
439 Frio Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.28mi
440 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,275	$1.40	43d	1	1.28mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.28mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.28mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	23d	1	1.28mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	23d	1	1.28mi
444 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.28mi
913 S 13th St Unit 1 Alamo, TX	2.0	2.0	1008	$1,050	$1.04	43d	1	1.39mi
422 S Val Verde Rd Unit 186 Donna, TX	3.0	2.0	960	$850	$0.89	43d	1	1.48mi

HOA detail

• Monthly dues: $80 · $960/yr
• Likely covers: pool

Listing history 21 events

1. 2026-06-18
   days on market $89,900 Active 156 DOM
2. 2026-06-17
   days on market $89,900 Active 155 DOM
3. 2026-06-16
   days on market $89,900 Active 154 DOM
4. 2026-06-15
   days on market $89,900 Active 153 DOM
5. 2026-06-14
   days on market $89,900 Active 151 DOM
6. 2026-06-13
   days on market $89,900 Active 150 DOM
7. 2026-06-10
   days on market $89,900 Active 148 DOM
8. 2026-06-09
   days on market $89,900 Active 147 DOM
9. 2026-06-08
   days on market $89,900 Active 146 DOM
10. 2026-06-07
    days on market $89,900 Active 145 DOM
11. 2026-06-05
    days on market $89,900 Active 142 DOM
12. 2026-06-03
    days on market $89,900 Active 141 DOM
13. 2026-06-02
    days on market $89,900 Active 140 DOM
14. 2026-06-01
    days on market $89,900 Active 139 DOM
15. 2026-05-31
    days on market $89,900 Active 138 DOM
16. 2026-05-31
    days on market $89,900 Active 137 DOM
17. 2026-03-24
    price $89,900 597-char remark

    Show marketing remark (597 chars)

    Welcome to Royal Palms 55+ certified retirement community with club-house, outdoor kitchen, tables and chairs for eating and entertainment! Beautiful swimming pool plus shuffleboard and horse-shoe pits. Two lots are included with the mobile home which gives you plenty of living space. Great location near Aamo Post Office and professional strip professional center., nearby Wal-Mart and H-E-B box stores, and access to Interstate 2 and recreational activities in Lower Rio Grande Valley. Check-out Royal Palms mobile home neighborhood and see what affordable retirement living can be for you!

18. 2026-01-13
    listed $99,900 Active 597-char remark

    Show marketing remark (597 chars)

    Welcome to Royal Palms 55+ certified retirement community with club-house, outdoor kitchen, tables and chairs for eating and entertainment! Beautiful swimming pool plus shuffleboard and horse-shoe pits. Two lots are included with the mobile home which gives you plenty of living space. Great location near Aamo Post Office and professional strip professional center., nearby Wal-Mart and H-E-B box stores, and access to Interstate 2 and recreational activities in Lower Rio Grande Valley. Check-out Royal Palms mobile home neighborhood and see what affordable retirement living can be for you!

19. 2024-11-06
    listed $105,000 Active
20. 2005-04-07
    soldstatus
21. 1992-10-08
    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: $1,477 · $123/mo
• Projected year-2 tax: $1,645 · $137/mo
• Expected delta: +$168/yr (+$14/mo · 11.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $16,572
• − Mortgage interest: −$5,036
• − Property taxes: −$1,477
• − Insurance: −$450
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − HOA: −$960
• − Depreciation: −$2,615
• Taxable income: $3,383
• Est. tax owed @ 24.0%: −$812
• After-tax cash flow: $3,736/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: Donna ISD
• NCES district ID: 4817390
• Math proficiency: 11% ▼ -30.00%
• Reading proficiency: 18% ▼ -13.00%
• Median HH income: $27,330
• Composite: 11.16/100
• National rank: #9728
• State rank: #821 of 826 in TX

Livability — Alamo

• Score: 62/100
• State rank: #916
• US rank: #16356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamo, TX
• County: Hidalgo County · 623,128 people
• City population: 34,370
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 34,370
• Household income: $53,229
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 476.0

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 (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 40% White 10% Black 1%
• Hispanic origin (detail): Mexican 86%
• Foreign-born: 29% · Canada
• Languages at home: 24% English-only · Spanish 76%

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: ▼ -15.56%
• Current HPI: 225.4438
• 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

-14.4% since first listed

5 events — show timeline

• 2026-03-24 Price Changed $89,900 MCALLENMLS
• 2026-01-13 Listed $99,900 MCALLENMLS
• 2024-11-06 Listed $105,000 MCALLENMLS
• 2005-04-07 Sold (Public Records) — Public Records
• 1992-10-08 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,477 · +9.3% YoY. Source: county tax records.