1017 W Buchanan St · Harlingen, TX 78550

$91,500

2 bd · 1.0 ba · 892 sqft · SingleFamily public records · 414 Days on market

Built 1947 7,000 sqft lot $103/sqft · 20% below area Est $115k · 20% under ↓ 6% since listing

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Why this score? — see what drove the B- 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS! We are selling a handy-man special home with 2 bedrooms, 1 bath and 1-car garage. This location has easy access to Freeway 69E and is close to HEB and Valley Vista Mall. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

Key facts

• Close to heb
• 7,000 sq ft lot
• Garage

Tags

• EASY ACCESS TO FREEWAY 69E
• CLOSE TO HEB
• CLOSE TO VALLEY VISTA MALL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.8% in Harlingen — 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 (#217 in TX) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, schools D+, commute F.
• Harlingen CISD (urban): math 25% / reading 35% proficiency, ranked #647 of 826 in TX (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 $633 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 414 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 414 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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. 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?
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: 1.15% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (median comp): $114,789
• List price: $91,500
• Delta: -20.29%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Polk Ave	0.43mi	3/1.0 (+1)	876 (-2%)	13mo	$129,900	$148	61
314 W Lincoln Ave	0.49mi	3/2.0 (+1)	1,000 (+12%)	9mo	$172,500	$173	40
210 W Mckinley Ave	0.70mi	2/1.0	984 (+10%)	20mo	$118,000	$120	34

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 · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-8
• Equity at exit: $13,643

10-year hold

• IRR: 10.1%
• Equity multiple: 1.80×
• Total profit: $20,443
• Equity at exit: $7,911

Cash invested: $25,620 (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 78550

• Rents YoY: 3.5%
• Active inventory: 465
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,053 high
• Mortgage (P&I): −$480
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $225

Break-even live

Break-even rent $768

Max offer price $91,500

Occupancy floor 74%

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: $22,875
• Closing costs: $2,745
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 W Garfield St Apt C2 Harlingen, TX	2.0	2.0	1120	$995	$0.89	21d	1	0.30mi
501 W Pierce Ave Harlingen, TX	3.0	2.0	847	$950	$1.12	21d	1	0.37mi
106 S A St Harlingen, TX	1.0–2.0	1.0–2.0	877	$850	$0.97	13d	3	0.81mi
619 E Pierce Ave Harlingen, TX	2.0	1.0	1000	$800	$0.80	43d	1	1.04mi
204 S 7th St Harlingen, TX	2.0	1.0	713	$725	$1.02	21d	1	1.16mi
409 E Madison Ave Unit 4 Harlingen, TX	2.0	1.0	770	$750	$0.97	43d	1	1.16mi
1600 Clinton St Unit 1 Harlingen, TX	3.0	2.0	1050	$1,495	$1.42	43d	1	1.17mi
1604 Clinton St Unit 1 Harlingen, TX	3.0	2.0	1050	$1,495	$1.42	43d	1	1.17mi
1725 Clinton St Unit A Harlingen, TX	2.0	2.0	807	$1,295	$1.60	21d	1	1.23mi
1725 Clinton St Unit A Harlingen, TX	2.0	2.0	807	$1,295	$1.60	43d	1	1.23mi
1704 Clinton St Unit 1 Harlingen, TX	3.0	2.0	1010	$1,495	$1.48	43d	1	1.23mi
1704 Clinton St Unit 2 Harlingen, TX	2.0	2.0	1010	$1,295	$1.28	21d	1	1.23mi
1704 Clinton St Unit 2 Harlingen, TX	2.0	2.0	956	$1,295	$1.35	43d	1	1.23mi
902 N D St Unit A Harlingen, TX	3.0	2.0	850	$825	$0.97	43d	1	1.24mi
709 E Jackson St Harlingen, TX	2.0	1.0	1100	$1,050	$0.95	13d	1	1.25mi
917 N 1st St Unit 917 Harlingen, TX	2.0	1.0	700	$770	$1.10	43d	1	1.37mi
801 W Arroyo Park Ln Unit 2 Harlingen, TX	1.0	1.0	700	$775	$1.11	21d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $91,500 Active 414 DOM
2. 2026-06-17
   days on market $91,500 Active 413 DOM
3. 2026-06-16
   days on market $91,500 Active 412 DOM
4. 2026-06-15
   days on market $91,500 Active 411 DOM
5. 2026-06-14
   days on market $91,500 Active 409 DOM
6. 2026-06-10
   days on market $91,500 Active 406 DOM
7. 2026-06-09
   days on market $91,500 Active 405 DOM
8. 2026-06-09
   days on market $91,500 Active 404 DOM
9. 2026-06-07
   days on market $91,500 Active 403 DOM
10. 2026-06-03
    days on market $91,500 Active 399 DOM
11. 2026-06-02
    days on market $91,500 Active 398 DOM
12. 2026-06-01
    days on market $91,500 Active 397 DOM
13. 2026-05-31
    days on market $91,500 Active 396 DOM
14. 2026-05-30
    days on market $91,500 Active 395 DOM
15. 2025-09-12
    price $91,500 409-char remark

    Show marketing remark (409 chars)

    INVESTORS! We are selling a handy-man special home with 2 bedrooms, 1 bath and 1-car garage. This location has easy access to Freeway 69E and is close to HEB and Valley Vista Mall. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

16. 2025-04-30
    listed $97,500 Active 409-char remark

    Show marketing remark (409 chars)

    INVESTORS! We are selling a handy-man special home with 2 bedrooms, 1 bath and 1-car garage. This location has easy access to Freeway 69E and is close to HEB and Valley Vista Mall. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

17. 1990-12-01
    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: $1,065 · $89/mo
• Projected year-2 tax: $1,674 · $140/mo
• Expected delta: +$609/yr (+$51/mo · 57.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 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: $12,636
• − Mortgage interest: −$5,125
• − Property taxes: −$1,065
• − Insurance: −$458
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$2,662
• Taxable income: $1,304
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $2,389/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: Harlingen CISD
• NCES district ID: 4822530
• Math proficiency: 25% ▼ -28.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $37,182
• Composite: 24.94/100
• National rank: #7566
• State rank: #647 of 826 in TX

Livability — Harlingen

• Score: 73/100
• State rank: #217
• US rank: #5347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harlingen, TX
• County: Cameron County · 310,734 people
• City population: 95,667
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 53,335
• Household income: $49,007
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2251.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 29% White 14% Black 1%
• Hispanic origin (detail): Mexican 76%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 51% English-only · Spanish 48%

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: ▼ -142.60%
• Current HPI: 167.7038
• Rent YoY: ▲ 3.45%
• Metro: Brownsville-Harlingen, 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

-6.2% since first listed

3 events — show timeline

• 2025-09-12 Price Changed $91,500 HARMLS
• 2025-04-30 Listed $97,500 HARMLS
• 1990-12-01 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,065 · -45.3% YoY. Source: county tax records.