509 Rio Grande St · Del Rio, TX 78840

$146,500

4 bd · 1.0 ba · 1,688 sqft · SingleFamily public records · 74 Days on market

Built 1967 4,792 sqft lot $87/sqft · 11% above area Est $132k · 11% over

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Why this score? — see what drove the C- 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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +7.5/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under $160K and Full of Possibilities! This 4-bedroom, 2-bath Del Rio home sits on a corner lot with mature trees, a fully fenced yard, a 2-car carport, and an attached workshop—perfect for hobbies, projects, or outdoor fun. Step inside to a spacious entryway flowing into a formal dining area and an open kitchen space. The oversized main master is conveniently located downstairs with plenty of storage. Cozy, move-in ready, and full of potential, this home offers space, privacy, and the chance to make it your own dream home. Schedule your showing today and claim this Del Rio gem before it’s gone!

Key facts

• 4,792 sq ft lot
• Built 1967
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $138k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#349 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D+, schools D.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,710 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.25% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 6.7

CMA / ARV

• ARV (median comp): $131,672
• List price: $146,500
• Delta: 11.26%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1511 W Martin St	0.34mi	3/2.0 (-1)	1,764 (+4%)	17mo	$100,000	$57	54
322 W Strickland St	0.28mi	3/2.0 (-1)	1,854 (+10%)	21mo	$223,000	$120	44
607 Pecan St	0.71mi	3/1.0 (-1)	1,464 (-13%)	4mo	$168,325	$115	36

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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.83×
• Total profit: $-7,159
• Equity at exit: $21,844

10-year hold

• IRR: 3.0%
• Equity multiple: 1.20×
• Total profit: $8,316
• Equity at exit: $12,667

Cash invested: $41,020 (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 78840

• Home prices YoY: -33.6%
• Rents YoY: 1.6%
• Active inventory: 549
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$768
• Tax from tax record: −$317 /mo · $3,809/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $300

Break-even live

Break-even rent $1,452

Max offer price $146,500

Occupancy floor 79%

Sensitivity live

Price	-10% $383	-5% $341	+0% $300	+5% $258	+10% $217
Rent	-10% $155	-5% $228	+0% $300	+5% $372	+10% $445
Rate	-1.0pp $374	-0.5pp $337	base $300	+0.5pp $262	+1.0pp $223

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: $36,625
• Closing costs: $4,395
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 W Nicholson St Del Rio, TX	3.0	2.0	1918	$1,800	$0.94	44d	1	0.32mi
105 Saint Joseph St Del Rio, TX	3.0	2.0	1318	$1,600	$1.21	44d	1	0.60mi
401 Saint Joseph St Del Rio, TX	3.0	2.0	1302	$1,700	$1.31	44d	1	0.66mi
504 Avenue V Del Rio, TX	3.0	2.0	1196	$1,350	$1.13	44d	1	0.78mi
410 Pulliam St Del Rio, TX	3.0	2.0	1700	$1,800	$1.06	44d	1	1.02mi
103 Summit Ave Del Rio, TX	3.0	2.0	1088	$1,250	$1.15	44d	1	1.10mi

Listing history 21 events

1. 2026-06-19
   days on market $146,500 Active 74 DOM
2. 2026-06-18
   days on market $146,500 Active 73 DOM
3. 2026-06-17
   days on market $146,500 Active 72 DOM
4. 2026-06-16
   days on market $146,500 Active 71 DOM
5. 2026-06-15
   days on market $146,500 Active 70 DOM
6. 2026-06-14
   days on market $146,500 Active 68 DOM
7. 2026-06-12
   days on market $146,500 Active 67 DOM
8. 2026-06-09
   days on market $146,500 Active 64 DOM
9. 2026-06-08
   days on market $146,500 Active 63 DOM
10. 2026-06-07
    days on market $146,500 Active 62 DOM
11. 2026-06-05
    pricedays on market $146,500 Active 59 DOM
12. 2026-06-03
    days on market $159,000 Active 58 DOM
13. 2026-06-02
    days on market $159,000 Active 57 DOM
14. 2026-06-01
    days on market $159,000 Active 56 DOM
15. 2026-05-31
    days on market $159,000 Active 55 DOM
16. 2026-05-30
    days on market $159,000 Active 54 DOM
17. 2026-04-07
    listed $159,000 Active 614-char remark

    Show marketing remark (614 chars)

    Under $160K and Full of Possibilities! This 4-bedroom, 2-bath Del Rio home sits on a corner lot with mature trees, a fully fenced yard, a 2-car carport, and an attached workshop—perfect for hobbies, projects, or outdoor fun. Step inside to a spacious entryway flowing into a formal dining area and an open kitchen space. The oversized main master is conveniently located downstairs with plenty of storage. Cozy, move-in ready, and full of potential, this home offers space, privacy, and the chance to make it your own dream home. Schedule your showing today and claim this Del Rio gem before it’s gone!

18. 2025-10-03
    listed $159,000 Active
19. 2017-05-01
    soldstatus
20. 2017-05-01
    soldstatus
21. 2016-05-25
    listed $98,500

ⓘ 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: $3,809 · $317/mo
• Projected year-2 tax: $3,809 · $317/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $21,975
• − Mortgage interest: −$8,206
• − Property taxes: −$3,809
• − Insurance: −$732
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$4,262
• Taxable income: $1,449
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $3,252/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: San Felipe-Del Rio CISD
• NCES district ID: 4838900
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $40,582
• Composite: 24.04/100
• National rank: #7766
• State rank: #667 of 826 in TX

Livability — Del Rio

• Score: 70/100
• State rank: #349
• US rank: #7531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Del Rio, TX
• County: Val Verde County · 47,256 people
• City population: 47,256
• Metro: Del Rio, TX
• Population (ZIP): 47,256
• Household income: $66,084
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1111.0

Population outlook (Val Verde County) Hauer SSP2

• Today (2025): 48,073 people
• By 2030: 47,468 · -1.3%
• By 2040: 45,930 · -4.5%
• By 2050: 43,904 · -8.7%
• By 2075: 38,126 · -20.7%
• By 2100: 26,217 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 24% White 15% Black 1%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada
• Languages at home: 36% English-only · Spanish 63%

Political lean MEDSL · Val Verde

• 2024 margin: Strong R (+26.6) · D 36.2% · R 62.9%
• 2008→2024 swing: -36.2pp toward R · 2008: 9.6pp · 2024: -26.6pp
• All cycles: 2024: R+26.6 2020: R+9.9 2016: D+7.9 2012: D+5.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.95%
• Current HPI: 161.762
• Rent YoY: ▲ 1.55%
• Metro: Del Rio, 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

+61.4% since first listed

5 events — show timeline

• 2026-04-07 Listed $159,000 DRBORMLS
• 2025-10-03 Listed $159,000 DRBORMLS
• 2017-05-01 Sold (Public Records) — Public Records
• 2017-05-01 Sold (MLS) — DRBORMLS
• 2016-05-25 Listed $98,500 DRBORMLS

Property tax history

+7.3%/yr

Latest (2025): $3,809 · +10.3% YoY. Source: county tax records.