2010 River Oaks Dr · Harlingen, TX 78550

$224,999

3 bd · 2.0 ba · 2,111 sqft · SingleFamily public records · 88 Days on market

Built 1987 5,500 sqft lot $107/sqft · 25% below area Est $300k · 25% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

Key facts

• Converted garage
• Covered patio
• Nearby parks

Tags

• CONVERTED GARAGE
• COVERED PATIO
• OPEN-CONCEPT LIVING ROOM
• FULLY EQUIPPED KITCHEN
• NEARBY PARKS
• HIKING TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (25.5% below list).
• Recommended offer: $168k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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.

Location & tenants

• 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-, schools D+, commute 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.
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 41% of the median local income ($49k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $30k (12%) 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,541 (25.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.74% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 11.2

CMA / ARV

• ARV (median comp): $300,346
• List price: $224,999
• Delta: -25.09%
• 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
2626 Julian St	0.37mi	3/2.5	2,075 (-2%)	11mo	$360,000	$173	68
2626 Marky St	0.46mi	3/2.5	2,000 (-5%)	1mo	$358,000	$179	67
2609 Marky St	0.40mi	4/2.5 (+1)	2,136 (+1%)	12mo	$372,500	$174	62
1869 Sam Cir	0.72mi	3/2.5	2,029 (-4%)	1mo	$365,000	$180	58
2601 Julian St	0.37mi	4/3.5 (+1)	1,945 (-8%)	5mo	$330,500	$170	54
2614 Marky St	0.39mi	4/3.0 (+1)	2,300 (+9%)	6mo	$422,500	$184	53
2602 Julian Rd	0.37mi	4/3.0 (+1)	1,934 (-8%)	11mo	$333,500	$172	51
2605 Marky St	0.39mi	4/2.5 (+1)	1,920 (-9%)	16mo	$352,500	$184	46
2610 Max St	0.35mi	4/3.0 (+1)	1,846 (-13%)	12mo	$320,000	$173	43

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 · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.24×
• Total profit: $-48,039
• Equity at exit: $33,548

10-year hold

• IRR: -14.9%
• Equity multiple: 0.13×
• Total profit: $-54,561
• Equity at exit: $19,454

Cash invested: $63,000 (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 78550

• Rents YoY: 3.5%
• Active inventory: 465
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$244 /mo · $2,924/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-194

Break-even live

Break-even rent $1,921

Max offer price $190,763

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2406 Topaz Dr Harlingen, TX	3.0	2.5	1555	$1,800	$1.16	43d	1	0.05mi
2117 S Arden St Harlingen, TX	4.0	3.0	2809	$1,800	$0.64	43d	1	0.10mi
1809 S Williams Ln Harlingen, TX	3.0	2.0	1540	$1,600	$1.04	13d	1	0.28mi
2626 Haverford Blvd Harlingen, TX	3.0	2.0	1592	$2,250	$1.41	13d	1	0.35mi
1119 W Garfield St Harlingen, TX	3.0	2.0	1401	$1,300	$0.93	21d	1	1.04mi
818 W Buchanan St Harlingen, TX	3.0	2.0	1406	$1,350	$0.96	43d	1	1.42mi

Listing history 18 events

1. 2026-06-14
   status $224,999 Pending 88 DOM
2. 2026-06-03
   days on market $224,999 Active 88 DOM
3. 2026-06-02
   days on market $224,999 Active 87 DOM
4. 2026-06-01
   days on market $224,999 Active 86 DOM
5. 2026-05-31
   days on market $224,999 Active 85 DOM
6. 2026-05-30
   days on market $224,999 Active 84 DOM
7. 2026-05-04
   price $224,999 830-char remark

   Show marketing remark (830 chars)

   This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

8. 2026-04-18
   price $234,000 830-char remark

   Show marketing remark (830 chars)

   This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

9. 2026-04-01
   price $239,999 830-char remark

   Show marketing remark (830 chars)

   This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

10. 2026-03-19
    price $245,000 830-char remark

    Show marketing remark (830 chars)

    This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

11. 2026-03-07
    listed $255,000 Active 830-char remark

    Show marketing remark (830 chars)

    This delightful 3-bedroom, 2-bathroom home is just a short drive from local shops, restaurants, and entertainment. Nearby parks and hiking trails provide plenty of opportunities for outdoor adventures. Upon entering, you'll be welcomed by a warm and inviting atmosphere. The open-concept living room seamlessly connects to a fully equipped kitchen with modern appliances, ideal for preparing home-cooked meals. The split floor plan offers spacious rooms, perfect for a growing family. The converted garage serves as a versatile bonus room, ideal for an in-law suite, game room, theater, or gym. Outside, the backyard features a covered patio, perfect for barbecues and gatherings. Existing loan may be assumable if favorable. Subject to lender approval and buyer qualification. Seller willing to cooperate with assumption process.

12. 2025-02-13
    historical $1,650
13. 2025-02-08
    listed $1,650
14. 2022-05-24
    soldstatus 418-char remark

    Show marketing remark (418 chars)

    Charming partially renovated 3 bedroom, 2 bath home in excellent location in town. This beauty has a huge game room, perfect for a pool table and parties. Or spend your days lounging under the new covered patio which runs almost the entire back of the home, with ceiling fans to keep you nice and fresh. All newly installed insulated windows throughout the entire home. Beautifully maintained, privacy fenced backyard.

15. 2022-05-24
    soldstatus

    Show marketing remark (418 chars)

    Charming partially renovated 3 bedroom, 2 bath home in excellent location in town. This beauty has a huge game room, perfect for a pool table and parties. Or spend your days lounging under the new covered patio which runs almost the entire back of the home, with ceiling fans to keep you nice and fresh. All newly installed insulated windows throughout the entire home. Beautifully maintained, privacy fenced backyard.

16. 2022-03-24
    listed $210,000 418-char remark

    Show marketing remark (418 chars)

    Charming partially renovated 3 bedroom, 2 bath home in excellent location in town. This beauty has a huge game room, perfect for a pool table and parties. Or spend your days lounging under the new covered patio which runs almost the entire back of the home, with ceiling fans to keep you nice and fresh. All newly installed insulated windows throughout the entire home. Beautifully maintained, privacy fenced backyard.

17. 2003-07-31
    soldstatus
18. 2003-07-28
    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: $2,924 · $244/mo
• Projected year-2 tax: $4,117 · $343/mo
• Expected delta: +$1,193/yr (+$99/mo · 40.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 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: $20,105
• − Mortgage interest: −$12,603
• − Property taxes: −$2,924
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$6,545
• Taxable loss: −$6,310
• Est. tax savings @ 24.0%: +$1,514
• After-tax cash flow: $-811/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: Harlingen CISD
• NCES district ID: 4822530
• Math proficiency: 25% ▼ -28.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $37,182
• Composite: 24.94/100
• National rank: #7566
• State rank: #647 of 826 in TX

Livability — Harlingen

• Score: 73/100
• State rank: #217
• US rank: #5347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harlingen, TX
• County: Cameron County · 310,734 people
• City population: 95,667
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 53,335
• Household income: $49,007
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2251.0

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 29% White 14% Black 1%
• Hispanic origin (detail): Mexican 76%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 51% English-only · Spanish 48%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 167.7038
• Rent YoY: ▲ 3.45%
• Metro: Brownsville-Harlingen, 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

+7.1% since first listed

12 events — show timeline

• 2026-05-04 Price Changed $224,999 RGVMLS
• 2026-04-18 Price Changed $234,000 RGVMLS
• 2026-04-01 Price Changed $239,999 RGVMLS
• 2026-03-19 Price Changed $245,000 RGVMLS
• 2026-03-07 Listed $255,000 RGVMLS
• 2025-02-13 Rental Removed $1,650 RGVMLS
• 2025-02-08 Listed for Rent $1,650 RGVMLS
• 2022-05-24 Sold (Public Records) — Public Records
• 2022-05-24 Sold (MLS) — RGVMLS
• 2022-03-24 Listed $210,000 RGVMLS
• 2003-07-31 Sold (Public Records) — Public Records
• 2003-07-28 Sold (Public Records) — Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,924 · +10.3% YoY. Source: county tax records.