3506 Valeria Ln #3 · Olivarez, TX 78596

$135,000

2 bd · 2.0 ba · 920 sqft · Condo · 33 Days on market

Built 2026 Good condition $21/mo HOA · 2% of rent

---

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).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Condition / age +4.0/5.0
• 1% rule +3.3/10.0
• DSCR +3.1/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Modern condo located in The Coves subdivision! This 2 bedroom, 2 bathroom unit offers 920 sqft of comfortable living space with an open layout, stylish finishes, and plenty of natural light. Perfect for first-time buyers or investors. Conveniently located near shopping, dining, and schools. Move-in ready!

Key facts

• Move-in ready
• Natural light
• Open layout

Tags

• THE COVES SUBDIVISION
• OPEN LAYOUT
• NATURAL LIGHT
• MOVE-IN READY

Property features AI

Finance

• Other: Lot approximately 81 x 123 (0.2287 acres); Building area listed as 920 square feet; Property located in The Coves subdivision
• HOA & community: Mandatory POA with a transfer fee; Annual association fee of $250

Exterior

• Parking: No garage or carport (no covered parking)
• Security: Smoke detectors
• Utilities: City sewer
• Home design: Single-story dwelling (one living area); Energy Star rated
• Construction: Stone construction; Composition shingle roof; Slab foundation; Built on plans (living area source: blueprints)
• Exterior features: Wood fencing; Patio slab; Professional landscaping; Sidewalks; Paved road access; Gated community

Interior

• Kitchen: Microwave; Stove/Range; Refrigerator
• Bedrooms: Master bedroom with walk-in closet(s)
• Flooring: Porcelain tile; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Quartz countertops; Ceiling fans; Split bedroom layout; Walk-in closet(s); Energy-efficient double-pane windows; Custom drapes; Smoke detector(s)
• Laundry & utility: Washer and dryer included; Laundry area / laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-65 ($-785/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (16.7% below list).
• Recommended offer: $112k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.7% in Olivarez — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Airport El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 792 students, 86% FRL); Central Middle (math 33% / reading 40%, grade F, #786 of 1,662 statewide, top 48%, 974 students, 70% 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 77% FRL vs 59% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 710 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $144 of equity ($933 loan paydown + $-789 appreciation (-0.6% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,472 (16.7% 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 33 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.69×
• Total profit: $-11,750
• Equity at exit: $35,302

10-year hold

• IRR: -0.5%
• Equity multiple: 0.95×
• Total profit: $-1,797
• Equity at exit: $39,438

Cash invested: $37,800 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 710
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$21
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-65

Break-even live

Break-even rent $1,208

Max offer price $125,533

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-19	+0% $-65	+5% $-112	+10% $-159
Rent	-10% $-154	-5% $-110	+0% $-65	+5% $-21	+10% $23
Rate	-1.0pp $3	-0.5pp $-31	base $-65	+0.5pp $-100	+1.0pp $-136

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $21 · $252/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $135,000 Active 33 DOM
2. 2026-06-18
   days on market $135,000 Active 31 DOM
3. 2026-06-17
   days on market $135,000 Active 30 DOM
4. 2026-06-16
   days on market $135,000 Active 29 DOM
5. 2026-06-15
   days on market $135,000 Active 28 DOM
6. 2026-06-15
   days on market $135,000 Active 27 DOM
7. 2026-06-13
   days on market $135,000 Active 26 DOM
8. 2026-06-12
   days on market $135,000 Active 25 DOM
9. 2026-06-09
   days on market $135,000 Active 22 DOM
10. 2026-06-08
    days on market $135,000 Active 21 DOM
11. 2026-06-08
    days on market $135,000 Active 20 DOM
12. 2026-06-07
    days on market $135,000 Active 19 DOM
13. 2026-06-03
    days on market $135,000 Active 16 DOM
14. 2026-06-02
    days on market $135,000 Active 15 DOM
15. 2026-06-01
    days on market $135,000 Active 14 DOM
16. 2026-05-31
    days on market $135,000 Active 13 DOM
17. 2026-05-18
    listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,497
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − HOA: −$252
• − Depreciation: −$3,927
• Taxable loss: −$3,104
• Est. tax savings @ 24.0%: +$745
• After-tax cash flow: $-40/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.

Condition & rehab AI · 3 photos

Good 80/100 Cosmetic rehab

This modern condo in The Coves subdivision is move-in ready with good condition and minimal repairs needed. Upgrades in paint, flooring, and appliances would significantly enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring — New flooring can improve the overall look and feel of the home.
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value.
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring — New flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Olivarez, TX
• Population (ZIP): 38,942

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 (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

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: ▼ -0.58%
• Current HPI: 261.5117
• 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

1 event — show timeline

• 2026-05-18 Listed $135,000 MCALLENMLS