210 W Wilson Ave

Harlingen, TX 78550

$144,000D+

3 bd · 1.5 ba · 1,440 sqft · Built 1972 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,277/mo
• Mortgage (P&I): −$755
• Tax + insurance: −$263
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-9/mo
• Annual: $-110/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• 1% rule: 0.89%
• Cash to close: $40,320

Investor read

• This is a 3-bed/1.5-bath single-family listed at $144k.
• At list price, monthly cash flow is $-9 ($-110/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (11.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $128k (11.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#217 in TX) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute F, employment F.
• Harlingen CISD (urban): math 25% / reading 35% proficiency, ranked #647 of 826 in TX (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Houston El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 467 students, 90% FRL); Coakley Middle (math 22% / reading 33%, grade F, #1,156 of 1,662 statewide, top 71%, 660 students, 83% FRL); Harlingen H S (math 32% / reading 22%, grade F, #1,204 of 1,632 statewide, top 75%, 1,942 students, 82% FRL).
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.8% in Harlingen — 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.
• This rent runs 31% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.