215 Cortez St · Laredo, TX 78040

$155,000

3 bd · 1.0 ba · 1,564 sqft · SingleFamily public records · 115 Days on market

Built 1954 7,712 sqft lot $99/sqft · 41% above area Est $110k · 42% over ↓ 3% 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).

• Cash flow +15.5/30.0
• Appreciation +7.5/10.0
• DSCR +4.8/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Investment opportunity * CORNER LOT / CASH ONLY * please contact me with any questions.

Key facts

• 7,712 sq ft lot
• Built 1954
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $62 ($741/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (4.2% below list).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.1% in Laredo — 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 (#227 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Laredo ISD (urban): math 21% / reading 29% proficiency, ranked #739 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: J C Martin Jr El (math 22% / reading 32%, grade F, #2,791 of 4,322 statewide, top 68%, 483 students, 99% FRL); Memorial Middle (math 19% / reading 26%, grade F, #1,341 of 1,662 statewide, top 82%, 668 students, 98% FRL); Dr Leo Cigarroa H S (math 21% / reading 21%, grade F, #1,385 of 1,632 statewide, top 85%, 1,472 students, 98% FRL) — zoned schools average 98% FRL vs 82% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,448 units permitted in Webb County in 2024 (245 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.9% local appreciation)).
• Webb County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 8.7

CMA / ARV

• ARV (median comp): $109,536
• List price: $155,000
• Delta: 41.51%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.90×
• Total profit: $39,071
• Equity at exit: $87,161

10-year hold

• IRR: 14.9%
• Equity multiple: 3.65×
• Total profit: $115,134
• Equity at exit: $149,873

Cash invested: $43,400 (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 78040

• Home prices YoY: 3.9%
• Active inventory: 68
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$234 /mo · $2,802/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $62

Break-even live

Break-even rent $1,406

Max offer price $155,000

Occupancy floor 91%

Sensitivity live

Price	-10% $150	-5% $106	+0% $62	+5% $18	+10% $-26
Rent	-10% $-56	-5% $3	+0% $62	+5% $120	+10% $179
Rate	-1.0pp $140	-0.5pp $101	base $62	+0.5pp $22	+1.0pp $-19

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1702 Cortez St Laredo, TX	3.0	2.0	1628	$1,700	$1.04	45d	1	0.91mi
1718 Willow St Laredo, TX	3.0	2.0	1705	$1,350	$0.79	45d	1	0.95mi
2016 Rosario St Laredo, TX	3.0	1.0	1293	$1,350	$1.04	45d	1	1.13mi

Listing history 19 events

1. 2026-06-21
   days on market $155,000 Active 115 DOM
2. 2026-06-21
   days on market $155,000 Active 114 DOM
3. 2026-06-18
   days on market $155,000 Active 112 DOM
4. 2026-06-17
   days on market $155,000 Active 111 DOM
5. 2026-06-16
   days on market $155,000 Active 110 DOM
6. 2026-06-15
   days on market $155,000 Active 109 DOM
7. 2026-06-13
   days on market $155,000 Active 107 DOM
8. 2026-06-12
   days on market $155,000 Active 106 DOM
9. 2026-06-10
   days on market $155,000 Active 103 DOM
10. 2026-06-08
    days on market $155,000 Active 102 DOM
11. 2026-06-08
    days on market $155,000 Active 101 DOM
12. 2026-06-07
    days on market $155,000 Active 100 DOM
13. 2026-06-03
    days on market $155,000 Active 97 DOM
14. 2026-06-02
    days on market $155,000 Active 96 DOM
15. 2026-06-01
    days on market $155,000 Active 95 DOM
16. 2026-05-31
    days on market $155,000 Active 94 DOM
17. 2026-05-18
    price $155,000 89-char remark

    Show marketing remark (89 chars)

    Investment opportunity * CORNER LOT / CASH ONLY * please contact me with any questions.

18. 2026-02-26
    listed $160,000 Active 89-char remark

    Show marketing remark (89 chars)

    Investment opportunity * CORNER LOT / CASH ONLY * please contact me with any questions.

19. 1965-10-01
    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: $2,802 · $234/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$34/yr (+$3/mo · 1.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $17,813
• − Mortgage interest: −$8,682
• − Property taxes: −$2,802
• − Insurance: −$775
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$4,509
• Taxable loss: −$1,806
• Est. tax savings @ 24.0%: +$433
• After-tax cash flow: $1,175/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: Laredo ISD
• NCES district ID: 4826790
• Math proficiency: 21% ▼ -34.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $25,655
• Composite: 19.7/100
• National rank: #8724
• State rank: #739 of 826 in TX

Livability — Laredo

• Score: 73/100
• State rank: #227
• US rank: #5399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laredo, TX
• City population: 67,333
• Population (ZIP): 36,115

Population outlook (Webb County) Hauer SSP2

• Today (2025): 301,387 people
• By 2030: 316,307 · +5.0%
• By 2040: 345,636 · +14.7%
• By 2050: 370,647 · +23.0%
• By 2075: 413,907 · +37.3%
• By 2100: 416,458 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 56% White 3%
• Hispanic origin (detail): Mexican 95%
• Foreign-born: 32% · Canada
• Languages at home: 7% English-only · Spanish 93%

Political lean MEDSL · Webb

• 2024 margin: Toss-up / Even · D 48.5% · R 50.7%
• 2008→2024 swing: -45.6pp toward R · 2008: 43.4pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+23.3 2016: D+51.6 2012: D+54.0 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.93%
• Current HPI: 133.0457
• 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

-3.1% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $155,000 LAOR
• 2026-02-26 Listed $160,000 LAOR
• 1965-10-01 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,802 · -2.7% YoY. Source: county tax records.