401 Walter Wagers St · Olivarez, TX 78599

$90,000

3 bd · 1.0 ba · 984 sqft · SingleFamily public records · 46 Days on market

Built 1977 0.32 ac lot $91/sqft · 45% below area Est $163k · 45% under ↓ 22% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.3/10.0

Listing remarks

Prime investment opportunity! Situated on a spacious . 32-acre lot shaded by mature trees, this property is ideal for investors looking to flip, renovate, or take advantage of an FHA 203(k) loan. Located in a quiet, well-established neighborhood with long-time residents, it offers both peace and stability. Enjoy the convenience of being just off the main road and only minutes from the expressway—making it a smart choice for someone looking for a quiet area with easy access to the city.

Key facts

• Easy access
• Spacious lot
• Quiet neighborhood

Tags

• SPACIOUS LOT
• MATURE TREES
• QUIET NEIGHBORHOOD
• EASY ACCESS

Property features AI

Finance

• Other: Lot dimensions approximately 100 ft x 141 ft (about 0.3214 acres)
• HOA & community: No homeowners association

Exterior

• Parking: Attached covered parking; 1 total parking space; 1 carport space
• Utilities: Septic tank sewer
• Home design: Single-story (building area 984 square feet); Entry level information not specified; Facing direction not specified; Property listed from Hidalgo CAD as living area source
• Construction: Frame/wood construction; Slab foundation; Metal roof; Built area: 984 (source listed)
• Exterior features: Covered patio; Chain link and wood fencing; Mature trees on lot; Paved road access

Interior

• Kitchen: No conveying appliances
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl flooring; Laminate countertops; Drapes on windows; Living area
• Laundry & utility: Water heater not provided (none listed)

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $389 ($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: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.3% in Olivarez — 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 51/100 on livability (#1,480 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime F, amenities F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rodolfo Rudy Silva Jr El (math 2% / reading 12%, grade F, #4,307 of 4,322 statewide, top 100%, 600 students, 85% FRL); Armando Cuellar Middle (math 22% / reading 31%, grade F, #1,200 of 1,662 statewide, top 73%, 626 students, 88% FRL); Weslaco H S (math 25% / reading 33%, grade F, #1,147 of 1,632 statewide, top 71%, 2,553 students, 73% FRL) — zoned schools average 82% FRL vs 59% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 234 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

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 46 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.43% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (median comp): $162,978
• List price: $90,000
• Delta: -44.78%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.40×
• Total profit: $10,201
• Equity at exit: $13,419

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $40,862
• Equity at exit: $7,782

Cash invested: $25,200 (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 78599

• Home prices YoY: -3.7%
• Active inventory: 234
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $389

Break-even live

Break-even rent $796

Max offer price $90,000

Occupancy floor 65%

Sensitivity live

Price	-10% $440	-5% $414	+0% $389	+5% $363	+10% $338
Rent	-10% $287	-5% $338	+0% $389	+5% $440	+10% $491
Rate	-1.0pp $434	-0.5pp $412	base $389	+0.5pp $365	+1.0pp $342

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-17
   status $90,000 Pending 46 DOM
2. 2026-06-16
   days on market $90,000 Active 46 DOM
3. 2026-06-15
   days on market $90,000 Active 45 DOM
4. 2026-06-15
   days on market $90,000 Active 44 DOM
5. 2026-06-13
   days on market $90,000 Active 43 DOM
6. 2026-06-12
   days on market $90,000 Active 42 DOM
7. 2026-06-09
   days on market $90,000 Active 39 DOM
8. 2026-06-08
   days on market $90,000 Active 38 DOM
9. 2026-06-08
   days on market $90,000 Active 37 DOM
10. 2026-06-07
    days on market $90,000 Active 36 DOM
11. 2026-06-03
    pricedays on market $90,000 Active 33 DOM
12. 2026-06-02
    days on market $115,000 Active 32 DOM
13. 2026-06-01
    days on market $115,000 Active 31 DOM
14. 2026-05-31
    days on market $115,000 Active 30 DOM
15. 2026-04-30
    listed $115,000 Active 495-char remark

ⓘ 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: $1,429 · $119/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$218/yr (+$18/mo · 15.3%)

ⓘ 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 · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 23 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: $15,453
• − Mortgage interest: −$5,041
• − Property taxes: −$1,429
• − Insurance: −$450
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$2,618
• Taxable income: $3,442
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $3,839/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: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Olivarez

• Score: 51/100
• State rank: #1480
• US rank: #25356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 35,400
• Population (ZIP): 35,400

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 42% White 2%
• Hispanic origin (detail): Mexican 90%
• Foreign-born: 20% · Canada
• Languages at home: 19% English-only · Spanish 80%

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: ▼ -9.47%
• Current HPI: 243.5537
• 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

-21.7% since first listed

3 events — show timeline

• 2026-06-16 Pending — MCALLENMLS
• 2026-06-02 Price Changed $90,000 MCALLENMLS
• 2026-04-30 Listed $115,000 MCALLENMLS

Property tax history

+4.0%/yr

Latest (2025): $1,429 · +9.5% YoY. Source: county tax records.