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707 Coves Ln #1
D Composite 40.45
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 +11.6/30.0
  • ARV discount +8.6/15.0
  • Condition / age +4.0/5.0
  • Livability +3.6/5.0
  • 1% rule +3.5/10.0
  • DSCR +3.4/10.0
  • Schools +3.0/10.0
  • Rent growth +2.5/5.0
  • Appreciation +0.3/10.0

$140,000

707 Coves Ln #1 · Weslaco, TX 78599
2 bd · 2.0 ba · 920 sqft · Condo · 163 Days on market
Built 2026 Good condition $152/sqft · at area comps Est $143k · at est. $21/mo HOA · 2% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

This brand-new 2-bedroom, 2-bathroom condo is your opportunity to be the very first to call it home. Step inside and you're greeted by an open-concept layout with modern finishes throughout — designed for the way people actually live. Clean lines, quality details, and a flow that just makes sense. Appliances included, so you're move-in ready from day one. Located in the heart of Weslaco off International Blvd, you're minutes from the expressway with easy access to shopping, dining, and schools — everything you need, right where you need it. The Coves isn't just a new address. It's a gated community built for people who want something better. And this unit — untouched, brand new, waiting for its first owner — might be exactly that.

Key facts

  • Gated community
  • Quartz countertops
  • Private patio

Tags

PRIVATE PATIOGATED COMMUNITYQUARTZ COUNTERTOPSTILE FLOORINGESSENTIAL APPLIANCES

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $140k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-44 ($-533/yr) — negative.
  • To cash-flow at today's rent, offer at most $134k (4.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (14.6% below list).
  • Recommended offer: $120k (14.6% below list) — sets the bar for 1% rule.
  • Cap rate 5.9% vs local median 3.7% in Weslaco — 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 72/100 on livability (#277 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, 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: 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

  • It's been on market 163 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
  • 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
Recommended offer $119,502 (14.6% 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 163 days. Have you received any prior offers? Is the seller open to a 15% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  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
0.85% ✗
Cap rate
5.91%
Cash-on-cash
-1.36%
DSCR
0.94
GRM
9.8

CMA / ARV

ARV (median comp)
$143,480
List price
$140,000
Delta
-2.43%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
3507 Mary Ln #1 0.06mi 2/2.0 920 (0%) 6mo $135,000 $147 92
3601 Mary Ln #1 0.05mi 2/2.0 920 (0%) 7mo $135,000 $147 92
3506 Mary Ln #3 0.05mi 2/2.0 920 (0%) 8mo $135,000 $147 91
3507 Jessica Ln 0.09mi 2/2.0 920 (0%) 7mo $135,000 $147 90
3507 Mary Ln #2 0.06mi 3/2.0 (+1) 1,073 (+17%) 3mo $155,000 $144 65
3507 Mary Ln #4 0.05mi 3/2.0 (+1) 1,073 (+17%) 4mo $155,000 $144 64
3501 Mary Ln #2 0.06mi 3/2.0 (+1) 1,073 (+17%) 5mo $155,000 $144 63
3513 Mary Ln #4 0.06mi 3/2.0 (+1) 1,073 (+17%) 7mo $155,000 $144 62
3601 Mary Ln #2 0.06mi 3/2.0 (+1) 1,073 (+17%) 8mo $155,000 $144 60
3501 Jessica Ln #2 0.08mi 3/2.0 (+1) 1,073 (+17%) 10mo $155,000 $144 58
3506 Mary Ln #4 0.11mi 3/2.0 (+1) 1,073 (+17%) 9mo $155,000 $144 57
2020 Del Oro Dr 0.90mi 3/1.0 (+1) 968 (+5%) 7mo $124,000 $128 41

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
-18.5%
Equity multiple
0.35×
Total profit
$-25,486
Equity at exit
$20,874
10-year hold
IRR
-10.8%
Equity multiple
0.34×
Total profit
$-25,712
Equity at exit
$12,105

Cash invested: $39,200 (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.

Active competition Active MLS

For sale now
0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78599

Home prices YoY
-3.7%
Active inventory
392
Price-to-rent
9.8×

Monthly cashflow live

Estimated rent
$1,195 high interval (Pro) →
Mortgage (P&I)
−$734
Tax est. 1.5%
−$175 /mo · $2,100/yr
Insurance
−$58
HOA
−$21
Vacancy / Maint / Mgmt
−$251
Net cashflow
$-44

Break-even live

Break-even rent $1,251
Max offer price $133,569
Occupancy floor 99%

Sensitivity live

Price -10% $52 -5% $4 +0% $-44 +5% $-93 +10% $-141
Rent -10% $-139 -5% $-92 +0% $-44 +5% $3 +10% $50
Rate -1.0pp $26 -0.5pp $-9 base $-44 +0.5pp $-81 +1.0pp $-118

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
$35,000
Closing costs
$4,200
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3507 Mary Ln Unit 4 Mercedes, TX 3.0 2.0 1073 $1,350 $1.26 43d 1 0.03mi
3600 Mary Ln Unit 2 Mercedes, TX 3.0 2.0 920 $1,850 $2.01 29d 1 0.05mi
3500 Valeria Ln #1 Weslaco, TX 2.0 2.0 998 $1,250 $1.25 10d 1 0.06mi
512 Brito Ln Unit 4 Mercedes, TX 3.0 2.0 1073 $1,350 $1.26 15d 1 0.07mi
3501 Jessica LN #1 Weslaco, TX 2.0 2.0 920 $1,100 $1.20 10d 1 0.09mi
3601 E Mile 8 N Weslaco, TX 2.0 2.0 900 $1,095 $1.22 184d 1 0.11mi
3601 E Mile 8 N Weslaco, TX 2.0–3.0 2.0 1025 $858 $0.84 0d 1 0.15mi
4013 Jenna Ln Unit D Weslaco, TX 2.0 2.0 1012 $1,300 $1.28 184d 1 0.26mi
100 La Herencia Mercedes, TX 1.0 1.0 570 $685 $1.20 0d 1 0.50mi
1312 Lore Dr Unit 1 Weslaco, TX 2.0 2.0 975 $1,050 $1.08 34d 1 0.56mi
1304 Petri Dr Weslaco, TX 2.0 2.0 1067 $1,050 $0.98 184d 1 0.57mi
1308 Petri Dr Unit 4 Weslaco, TX 3.0 2.0 1078 $1,125 $1.04 33d 1 0.57mi
1308 Petri Dr Unit 4 Weslaco, TX 3.0 2.0 1078 $1,125 $1.04 16d 1 0.57mi
1312 Petri Dr Weslaco, TX 2.0 2.0 947 $1,015 $1.07 0d 1 0.57mi
1404 Lore Dr Unit 2 Weslaco, TX 2.0 2.0 975 $1,050 $1.08 34d 1 0.57mi
1415 Marcela Dr Unit 1 Weslaco, TX 2.0 2.0 947 $1,015 $1.07 0d 1 0.60mi
1308 Vani Dr Weslaco, TX 2.0 2.0 947 $1,050 $1.11 6d 1 0.62mi
1416 Vani Dr Unit 1 Weslaco, TX 2.0 2.0 947 $990 $1.05 184d 1 0.68mi
1412 Vani Dr Unit 3 Weslaco, TX 2.0 2.0 960 $990 $1.03 184d 1 0.68mi
3900 Gabriela Dr Weslaco, TX 3.0 1.0 955 $1,150 $1.20 10d 1 0.98mi
3108 Rosemary Dr Apt 3 Weslaco, TX 2.0 2.0 950 $975 $1.03 10d 1 1.06mi
3108 Rosemary Dr Apt 3 Weslaco, TX 2.0 2.0 950 $975 $1.03 6d 1 1.06mi
3108 Rosemary Dr Apt 3 Weslaco, TX 2.0 2.0 950 $975 $1.03 13d 1 1.06mi
3108 Rosemary Dr Apt 2 Weslaco, TX 2.0 2.0 950 $875 $0.92 43d 1 1.06mi
3012 Rosemary Dr Apt 2 Weslaco, TX 2.0 2.0 950 $975 $1.03 10d 1 1.07mi
2912 Rosemary Dr Apt 3 Weslaco, TX 2.0 2.0 950 $875 $0.92 43d 1 1.09mi
2812 Rosemary Dr Weslaco, TX 3.0 2.0 1065 $1,175 $1.10 43d 1 1.12mi
3109 Basil Dr Unit 3 Weslaco, TX 2.0 2.0 950 $975 $1.03 10d 1 1.12mi
2812 Rosemary Dr Unit 3 Weslaco, TX 3.0 2.0 1065 $1,175 $1.10 10d 1 1.12mi
3009 Basil Dr Apt 4 Weslaco, TX 2.0 2.0 950 $875 $0.92 29d 1 1.13mi
2808 Rosemary Dr Unit 3 Weslaco, TX 3.0 2.0 1000 $1,175 $1.18 10d 1 1.13mi
2108 Davenport St #4 Weslaco, TX 2.0 2.0 850 $925 $1.09 33d 1 1.17mi
2105 Davenport St Weslaco, TX 2.0 2.0 938 $1,025 $1.09 16d 1 1.17mi
2105 Davenport St Unit 1 Weslaco, TX 2.0 2.0 938 $1,025 $1.09 36d 1 1.17mi
2805 Basil Dr Unit 3 Weslaco, TX 2.0 2.0 950 $975 $1.03 10d 1 1.18mi
1917 Davenport St Unit 1 Weslaco, TX 2.0 2.0 938 $1,100 $1.17 184d 1 1.19mi
1917 Stauffer St Weslaco, TX 2.0 2.0 938 $1,025 $1.09 16d 1 1.21mi
1917 Stauffers St Unit 4 Weslaco, TX 2.0 2.0 938 $1,025 $1.09 36d 1 1.22mi
1908 Davenport St Unit 4 Weslaco, TX 2.0 2.0 938 $1,025 $1.09 10d 1 1.22mi
2112 Redbud Ln Unit 1 Weslaco, TX 2.0 2.0 920 $1,050 $1.14 43d 1 1.22mi

Property features AI

Finance

HOA & community
Located in The Coves communityMandatory POA/associationAnnual association fee of $250POA transfer fee of $350Community features include gated access and sidewalks

Exterior

Parking
Two covered parking spacesTwo carport spaces (total parking spaces: 2)
Security
Gated community
Utilities
City sewer
Home design
Stucco exteriorShingle roofSlab foundationNot new construction
Construction
Stucco constructionShingle roofSlab foundation
Exterior features
Wood fencingPatio with patio slabSprinkler systemCul-de-sac lotSidewalksPaved road frontage

Interior

Kitchen
DishwasherMicrowaveRefrigeratorElectric smooth top stove/range
Bedrooms
Primary bedroom with walk-in closet(s)
Flooring
Tile flooring
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (electric)Central air conditioning (electric)
Interior features
Entrance foyerQuartz countertopsCeiling fansSmoke detector(s)Custom drapesDouble pane (energy) windows
Laundry & utility
Washer and dryer includedLaundry area with washer/dryer connectionsElectric water heater

HOA detail $21/mo · $252/yr condo

Likely covers
security
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-11-08
    days on market $140,000 Active 163 DOM
  2. 2026-11-07
    days on market $140,000 Active 162 DOM
  3. 2026-11-06
    days on market $140,000 Active 161 DOM
  4. 2026-11-05
    days on market $140,000 Active 160 DOM
  5. 2026-11-04
    days on market $140,000 Active 159 DOM
  6. 2026-11-02
    days on market $140,000 Active 157 DOM
  7. 2026-11-01
    days on market $140,000 Active 156 DOM
  8. 2026-10-31
    days on market $140,000 Active 155 DOM
  9. 2026-10-31
    days on market $140,000 Active 154 DOM
  10. 2026-10-29
    days on market $140,000 Active 153 DOM
  11. 2026-10-28
    days on market $140,000 Active 152 DOM
  12. 2026-10-27
    days on market $140,000 Active 151 DOM
  13. 2026-10-26
    days on market $140,000 Active 150 DOM
  14. 2026-10-25
    days on market $140,000 Active 149 DOM
  15. 2026-10-24
    days on market $140,000 Active 148 DOM
  16. 2026-10-23
    days on market $140,000 Active 147 DOM
  17. 2026-10-22
    days on market $140,000 Active 146 DOM
  18. 2026-10-21
    days on market $140,000 Active 145 DOM
  19. 2026-10-20
    days on market $140,000 Active 144 DOM
  20. 2026-10-19
    days on market $140,000 Active 143 DOM
  21. 2026-10-18
    days on market $140,000 Active 142 DOM
  22. 2026-10-17
    days on market $140,000 Active 141 DOM
  23. 2026-10-16
    days on market $140,000 Active 140 DOM
  24. 2026-10-15
    days on market $140,000 Active 139 DOM
  25. 2026-10-14
    days on market $140,000 Active 138 DOM
  26. 2026-10-13
    days on market $140,000 Active 137 DOM
  27. 2026-10-12
    days on market $140,000 Active 136 DOM
  28. 2026-10-11
    days on market $140,000 Active 135 DOM
  29. 2026-10-10
    days on market $140,000 Active 134 DOM
  30. 2026-10-09
    days on market $140,000 Active 133 DOM
  31. 2026-10-08
    days on market $140,000 Active 132 DOM
  32. 2026-10-07
    days on market $140,000 Active 131 DOM
  33. 2026-10-06
    days on market $140,000 Active 130 DOM
  34. 2026-10-05
    days on market $140,000 Active 129 DOM
  35. 2026-10-04
    days on market $140,000 Active 128 DOM
  36. 2026-10-04
    days on market $140,000 Active 127 DOM
  37. 2026-10-02
    days on market $140,000 Active 126 DOM
  38. 2026-10-01
    days on market $140,000 Active 125 DOM
  39. 2026-09-30
    days on market $140,000 Active 124 DOM
  40. 2026-09-29
    days on market $140,000 Active 123 DOM
  41. 2026-09-28
    days on market $140,000 Active 122 DOM
  42. 2026-09-27
    days on market $140,000 Active 121 DOM
  43. 2026-09-26
    days on market $140,000 Active 120 DOM
  44. 2026-09-25
    days on market $140,000 Active 119 DOM
  45. 2026-09-24
    days on market $140,000 Active 118 DOM
  46. 2026-09-23
    days on market $140,000 Active 117 DOM
  47. 2026-09-21
    days on market $140,000 Active 115 DOM
  48. 2026-09-20
    days on market $140,000 Active 114 DOM
  49. 2026-09-19
    days on market $140,000 Active 113 DOM
  50. 2026-09-19
    days on market $140,000 Active 112 DOM

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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$14,340
− Mortgage interest
−$7,842
− Property taxes
−$2,100
− Insurance
−$700
− Repairs & maintenance
−$1,147
− Management
−$1,147
− HOA
−$252
− Depreciation
−$4,073
Taxable loss
−$2,921
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$701
After-tax cash flow
$168/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 · 5 photos

Good 80/100 None rehab

This move-in ready condo at The Coves at Weslaco features modern amenities and a well-maintained exterior, making it an attractive option for both resale and rental.

Value-add opportunities

  • Both Painting exterior walls — Enhances curb appeal and resale value ↑
  • Both Landscaping improvements — Enhances curb appeal and rental value ↑
  • Both Add smart home features — Improves convenience and marketability ↑
F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Airport El F TX #3,052/4,322 Nat'l #30,133/41,679 Middle Central Middle F TX #786/1,662 Nat'l #7,065/14,009 High Weslaco H S F TX #1,147/1,632 Nat'l #11,621/17,239

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
B Composite livability gradescore 72/100

Livability — Weslaco

Score
72/100
State rank
#277
US rank
#6469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Weslaco, TX
County
Hidalgo · 955,232 people
Metro
McAllen-Edinburg-Mission, TX
Population (ZIP)
35,400
Household income
$55,939
Rent vs Own
28.0% rent · 72.0% own
Severe rent burden
11% of renters

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%
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
—

Price history

+0.0% since first listed
3 events — show timeline
  • 2026-07-15 Listed $140,000 MCALLENMLS
  • 2026-07-15 Listed $140,000 MCALLENMLS
  • 2026-05-29 Listed $140,000 MCALLENMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…