704 E Palmera Dr Lot 22 and 23 · La Feria, TX 78559

$106,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured · 207 Days on market

Manufactured home 55+ age-restricted Built 2012 Good condition 10,000 sqft lot $82/sqft · 17% below area Est $128k · 17% under · waterfront ↓ 8% since listing

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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 +12.3/30.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -4.0

Listing remarks

Well-maintained 3-bed, 2-bath home in 55+ Palmera Estates on two lots (10,000 sq ft total) with nearly acre of space. Features a split-bedroom layout, open living/dining, and a spacious kitchen with breakfast bar, black appliances, ample cabinets—all appliances convey. Separate laundry room with exterior access. Two sheds offer storage and a workshop setup. Concrete driveways, handicap-accessible ramp, and landscaped yard ideal for relaxing or entertaining. HOA: $100/year. Perfect for full-time residents, Winter Texans, or anyone seeking a low-maintenance, flexible property!

Key facts

• Black appliances
• Split-bedroom layout
• Open living dining

Tags

• SPLIT-BEDROOM LAYOUT
• OPEN LIVING DINING
• SPACIOUS KITCHEN
• BREAKFAST BAR
• BLACK APPLIANCES
• AMPLE CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $106k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-70 ($-843/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (20.9% below list).
• Recommended offer: $84k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.3% in La Feria — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#667 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• La Feria ISD (suburban): math 27% / reading 35% proficiency, ranked #630 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: C E Vail El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 366 students, 95% FRL); W B Green J H (math 24% / reading 35%, grade F, #1,077 of 1,662 statewide, top 66%, 454 students, 85% FRL); La Feria H S (math 32% / reading 52%, grade F, #730 of 1,632 statewide, top 47%, 909 students, 85% FRL) — zoned schools average 88% FRL vs 50% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 410 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k 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 207 days — a 12% lower offer ($93k) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,834 (20.9% 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 207 days. Have you received any prior offers? Is the seller open to a 21% 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. Crime grade is D 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.79% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (median comp): $128,250
• List price: $106,000
• Delta: -17.35%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 Tangerine Dr	1.10mi	2/2.0 (-1)	1,252 (-3%)	1mo	$95,000	$76	53

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: -21.0%
• Equity multiple: 0.27×
• Total profit: $-21,638
• Equity at exit: $15,805

10-year hold

• IRR: -14.4%
• Equity multiple: 0.17×
• Total profit: $-24,553
• Equity at exit: $9,165

Cash invested: $29,680 (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 →

Active competition Active MLS

• For sale now: 4 active · 1 under contract
• Median asking: $135,750 ($103/sqft)
• Median days on market: 73 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: -3.7% vs current asking $/sqft

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

ZIP-level market 78559

• Home prices YoY: -6.1%
• Active inventory: 410
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $838 high
• Mortgage (P&I): −$556
• Tax est. 1.5%: −$132 /mo · $1,590/yr
• Insurance: −$44
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $-70

Break-even live

Break-even rent $927

Max offer price $95,834

Occupancy floor —

Sensitivity live

Price	-10% $3	-5% $-34	+0% $-70	+5% $-107	+10% $-144
Rent	-10% $-136	-5% $-103	+0% $-70	+5% $-37	+10% $-4
Rate	-1.0pp $-17	-0.5pp $-43	base $-70	+0.5pp $-98	+1.0pp $-126

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: $26,500
• Closing costs: $3,180
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 S Palmera Dr La Feria, TX	2.0	2.0	1480	$900	$0.61	51d	1	0.06mi
508 6th St Unit A La Feria, TX	2.0	2.0	926	$1,000	$1.08	162d	1	0.30mi
405 Lion's Villa Ave Unit 15 La Feria, TX	2.0	1.5	992	$999	$1.01	10d	1	0.48mi
405 Lion's Villa Ave Unit 14 La Feria, TX	2.0	1.5	992	$999	$1.01	21d	1	0.48mi
300 Cub Cir Unit 8 La Feria, TX	2.0	1.5	966	$1,100	$1.14	1d	1	0.63mi
300 Cub Cir Unit 2 La Feria, TX	2.0	1.5	966	$1,050	$1.09	184d	1	0.64mi
200 Cub Cir La Feria, TX	2.0	1.5	966	$1,024	$1.06	0d	1	0.67mi
213 W Fleetwood Ave La Feria, TX	3.0	2.0	1580	$1,549	$0.98	184d	1	0.82mi
312 E Magnolia Ave Unit 2 B La Feria, TX	3.0	2.0	1200	$1,350	$1.12	28d	1	0.88mi
317 E Ebony St La Feria, TX	3.0	2.0	1432	$1,650	$1.15	37d	1	0.95mi
2001 S Valley Cir Unit C La Feria, TX	2.0	2.0	930	$950	$1.02	49d	1	1.04mi
2328 S Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,100	$1.15	184d	1	1.06mi
2114 E Valley Cir Unit B La Feria, TX	2.0	2.0	954	$1,100	$1.15	154d	1	1.09mi
2432 S Valley Cir Unit B La Feria, TX	3.0	2.0	1149	$1,275	$1.11	184d	1	1.11mi
2226 Summit Rd Unit B La Feria, TX	2.0	2.0	954	$1,150	$1.21	5d	1	1.11mi
2226 Summit Rd La Feria, TX	2.0	2.0	954	$1,150	$1.21	0d	1	1.11mi
2216 E Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,080	$1.13	0d	1	1.11mi
2332 S Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,000	$1.05	154d	1	1.12mi
2220 E Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,080	$1.13	37d	1	1.13mi
2220 E Valley Cir Unit B La Feria, TX	2.0	2.0	954	$1,080	$1.13	0d	1	1.13mi
2425 N Valley Cir Unit B La Feria, TX	2.0	2.0	1872	$1,000	$0.53	184d	1	1.13mi
2225 S Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	184d	1	1.13mi
2323 N Valley Cir La Feria, TX	2.0	2.0	954	$1,100	$1.15	36d	1	1.15mi
2325 N Valley Cir Unit B La Feria, TX	2.0	2.0	954	$1,100	$1.15	0d	1	1.15mi
2429 Summit Rd Unit B La Feria, TX	2.0	2.0	965	$1,150	$1.19	162d	1	1.17mi
2228 N Valley Cir Unit A La Feria, TX	3.0	2.0	980	$1,225	$1.25	154d	1	1.17mi
2226 N Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	184d	1	1.17mi
2326 N Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	184d	1	1.18mi
2425 N Valley Cir Unit A La Feria, TX	2.0	2.0	1872	$1,000	$0.53	154d	1	1.19mi
315 Brooks Cir N La Feria, TX	3.0	2.5	1844	$1,950	$1.06	0d	1	1.21mi

Property features AI

Finance

• HOA & community: Homeowners association with annual feeSenior community

Exterior

• Security: Smoke detector(s)
• Utilities: Public waterPublic sewer
• Home design: Manufactured homeSingle-story
• Construction: Manufactured/Mobile construction
• Exterior features: Composition roofWorkshopLot in a subdivision (Palmera Heights)

Interior

• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central airCeiling fan(s)
• Interior features: Electric water heaterCrawl space

Listing history 50 events

1. 2026-11-08
   days on market $106,000 Active 207 DOM
2. 2026-11-07
   days on market $106,000 Active 206 DOM
3. 2026-11-06
   days on market $106,000 Active 205 DOM
4. 2026-11-06
   price $106,000 Active 204 DOM
5. 2026-11-05
   days on market $109,000 Active 204 DOM
6. 2026-11-04
   days on market $109,000 Active 203 DOM
7. 2026-11-02
   days on market $109,000 Active 201 DOM
8. 2026-11-01
   days on market $109,000 Active 200 DOM
9. 2026-10-31
   days on market $109,000 Active 199 DOM
10. 2026-10-30
    days on market $109,000 Active 198 DOM
11. 2026-10-29
    days on market $109,000 Active 197 DOM
12. 2026-10-28
    days on market $109,000 Active 196 DOM
13. 2026-10-27
    days on market $109,000 Active 195 DOM
14. 2026-10-26
    days on market $109,000 Active 194 DOM
15. 2026-10-25
    days on market $109,000 Active 193 DOM
16. 2026-10-24
    days on market $109,000 Active 192 DOM
17. 2026-10-23
    days on market $109,000 Active 191 DOM
18. 2026-10-22
    days on market $109,000 Active 190 DOM
19. 2026-10-21
    days on market $109,000 Active 189 DOM
20. 2026-10-20
    days on market $109,000 Active 188 DOM
21. 2026-10-19
    days on market $109,000 Active 187 DOM
22. 2026-10-18
    days on market $109,000 Active 186 DOM
23. 2026-10-17
    days on market $109,000 Active 185 DOM
24. 2026-10-16
    days on market $109,000 Active 184 DOM
25. 2026-10-15
    days on market $109,000 Active 183 DOM
26. 2026-10-14
    days on market $109,000 Active 182 DOM
27. 2026-10-13
    days on market $109,000 Active 181 DOM
28. 2026-10-12
    days on market $109,000 Active 180 DOM
29. 2026-10-11
    days on market $109,000 Active 179 DOM
30. 2026-10-10
    days on market $109,000 Active 178 DOM
31. 2026-10-09
    days on market $109,000 Active 177 DOM
32. 2026-10-08
    days on market $109,000 Active 176 DOM
33. 2026-10-07
    days on market $109,000 Active 175 DOM
34. 2026-10-06
    days on market $109,000 Active 174 DOM
35. 2026-10-05
    days on market $109,000 Active 173 DOM
36. 2026-10-04
    days on market $109,000 Active 172 DOM
37. 2026-10-03
    days on market $109,000 Active 171 DOM
38. 2026-10-02
    days on market $109,000 Active 170 DOM
39. 2026-10-01
    days on market $109,000 Active 169 DOM
40. 2026-09-30
    days on market $109,000 Active 168 DOM
41. 2026-09-29
    days on market $109,000 Active 167 DOM
42. 2026-09-28
    days on market $109,000 Active 166 DOM
43. 2026-09-27
    days on market $109,000 Active 165 DOM
44. 2026-09-26
    days on market $109,000 Active 164 DOM
45. 2026-09-26
    price $109,000 Active 163 DOM
46. 2026-09-25
    days on market $115,000 Active 163 DOM
47. 2026-09-24
    days on market $115,000 Active 162 DOM
48. 2026-09-23
    days on market $115,000 Active 161 DOM
49. 2026-09-22
    days on market $115,000 Active 160 DOM
50. 2026-09-21
    days on market $115,000 Active 159 DOM

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 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: $10,060
• − Mortgage interest: −$5,938
• − Property taxes: −$1,590
• − Insurance: −$530
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$3,084
• Taxable loss: −$2,691
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $-197/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 · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $6,480–$19,440 screening

This well-maintained 3-bedroom, 2-bath home in a 55+ community offers ample space and low-maintenance living.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Replace carpets — Fresh carpets can improve tenant satisfaction and reduce maintenance costs. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary C E Vail El F TX #3,836/4,322 Nat'l #35,191/41,679 Middle Noemi Dominguez El F TX #1,036/1,662 Nat'l #8,750/14,009 High La Feria H S F TX #730/1,632 Nat'l #7,572/17,239

Schools (NCES district)

• District: La Feria ISD
• NCES district ID: 4826040
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 35% ▼ -4.00%
• Median HH income: $33,306
• Composite: 25.41/100
• National rank: #7460
• State rank: #630 of 826 in TX

C Composite livability gradescore 65/100

Livability — La Feria

• Score: 65/100
• State rank: #667
• US rank: #12330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Feria, TX
• County: Cameron · 441,603 people
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 12,752
• Household income: $48,117
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 35% White 8%
• Hispanic origin (detail): Mexican 87%
• Languages at home: 40% English-only · Spanish 60%

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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: ▼ -12.21%
• Current HPI: 187.8512
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• HOA & community: Homeowners association with annual feeSenior community

Exterior

• Security: Smoke detector(s)
• Utilities: Public waterPublic sewer
• Home design: Manufactured homeSingle-story
• Construction: Manufactured/Mobile construction
• Exterior features: Composition roofWorkshopLot in a subdivision (Palmera Heights)

Interior

• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central airCeiling fan(s)
• Interior features: Electric water heaterCrawl space

Price history

-7.8% since first listed

7 events — show timeline

• 2026-06-05 Price Changed $118,900 RGVMLS
• 2026-05-01 Price Changed $119,900 RGVMLS
• 2026-04-15 Listed $123,900 RGVMLS
• 2026-03-09 Price Changed $123,900 RGVMLS
• 2026-02-11 Price Changed $124,900 RGVMLS
• 2026-01-01 Price Changed $125,900 RGVMLS
• 2025-09-08 Price Changed $128,900 RGVMLS