218 Bundle Wagon Dr · Mission, TX 78574

$119,900

2 bd · 1.0 ba · 1,612 sqft · Manufactured public records · 90 Days on market

Built 1977 5,001 sqft lot $74/sqft · at area comps Est $120k · at est. $33/mo HOA · 2% of rent

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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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect place to call home in the desirable 55+ community of Wagon City South! This charming 3-bedroom, 2-bath home sits on an oversized corner lot, offering comfort and convenience. Inside, enjoy a spacious living room filled with natural light, plus two dining areas ideal for everyday living. The kitchen features tiled countertops, ample cabinet space, a pantry, and updated appliances from 2021. A built-in hutch adds character and functionality. The Texas room is perfect for a home office or craft space and includes a new window A/C unit. The accessible primary suite offers a granite vanity and roll-in shower. Additional highlights include an attached one-car garage, workshop, fenced backyard, and mature trees. Recent upgrades include a new roof and siding in 2023, providing added peace of mind. This move-in-ready home comes fully furnished, making your transition seamless. Don’t miss this opportunity—schedule your private showing today!

Key facts

• Oversized corner lot
• Updated appliances
• Two dining areas

Tags

• OVERSIZED CORNER LOT
• SPACIOUS LIVING ROOM
• TWO DINING AREAS
• TILED COUNTERTOPS
• AMPLE CABINET SPACE
• UPDATED APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.5% in Mission — 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 75/100 on livability (#148 in TX, #4,155 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Mission CISD (urban): math 15% / reading 28% proficiency, ranked #775 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 474 active listings in the ZIP; 15 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; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 37% of the median local income ($52k/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 $829 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.33% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.3

CMA / ARV

• ARV (median comp): $119,900
• List price: $119,900
• Delta: —
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Buckboard Dr	0.17mi	2/2.0	1,568 (-3%)	3mo	$85,000	$54	81
213 Buckboard Dr	0.17mi	3/2.0 (+1)	1,530 (-5%)	2mo	$139,900	$91	73
112 Buckboard Dr	0.23mi	2/2.0	1,456 (-10%)	0mo	$119,900	$82	69
108 Covered Wagon Dr	0.16mi	3/2.0 (+1)	1,656 (+3%)	14mo	$99,000	$60	67

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $817
• Equity at exit: $17,877

10-year hold

• IRR: 10.3%
• Equity multiple: 1.81×
• Total profit: $27,045
• Equity at exit: $10,367

Cash invested: $33,572 (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 78574

• Home prices YoY: -16.1%
• Active inventory: 474
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$629
• Tax from tax record: −$233 /mo · $2,794/yr
• Insurance: −$50
• HOA: −$33
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $316

Break-even live

Break-even rent $1,196

Max offer price $119,900

Occupancy floor 75%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 W 25th St Mission, TX	3.0	2.0	1375	$1,650	$1.20	19d	1	0.33mi
2002 Thornton St Mission, TX	3.0	2.0	1374	$1,300	$0.95	44d	1	0.53mi
607 Alameda Dr Mission, TX	3.0	2.5	1731	$2,200	$1.27	44d	1	0.70mi
3209 Black Oak Ln Mission, TX	3.0	2.5	1672	$1,700	$1.02	14d	1	0.83mi
221 W 14th St Mission, TX	3.0	2.0	1290	$1,100	$0.85	44d	1	0.94mi
1400 N Dunlap Ave Mission, TX	2.0	1.0	1068	$800	$0.75	19d	1	0.96mi
3401 N Mayberry Rd Mission, TX	3.0	2.0	1150	$961	$0.84	44d	1	1.12mi
1827 Highland Park Ave Unit 1 Mission, TX	2.0	2.0	1300	$1,200	$0.92	44d	1	1.12mi
1801 Highland Park Ave Mission, TX	2.0	2.0	1173	$1,500	$1.28	19d	1	1.17mi
1707 Highland Park Ave Unit 4-B Mission, TX	2.0	2.0	1336	$1,200	$0.90	14d	1	1.17mi
1006 Fairway Dr Mission, TX	2.0	2.0	1072	$1,100	$1.03	44d	1	1.23mi
2903 Estevan St #4 Mission, TX	3.0	2.0	1056	$1,399	$1.32	19d	1	1.27mi
2216 Robyn Ln Mission, TX	3.0	3.0	2033	$2,000	$0.98	21d	1	1.30mi
3006 Gabriel St Mission, TX	3.0	2.0	1433	$1,600	$1.12	44d	1	1.33mi
3102 Gabriel St Mission, TX	3.0	2.0	1370	$1,800	$1.31	44d	1	1.34mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 28 events

1. 2026-06-18
   days on market $119,900 Active 90 DOM
2. 2026-06-17
   days on market $119,900 Active 89 DOM
3. 2026-06-16
   days on market $119,900 Active 88 DOM
4. 2026-06-15
   days on market $119,900 Active 87 DOM
5. 2026-06-14
   days on market $119,900 Active 85 DOM
6. 2026-06-10
   days on market $119,900 Active 82 DOM
7. 2026-06-09
   days on market $119,900 Active 81 DOM
8. 2026-06-08
   days on market $119,900 Active 80 DOM
9. 2026-06-07
   days on market $119,900 Active 79 DOM
10. 2026-06-03
    days on market $119,900 Active 75 DOM
11. 2026-06-02
    days on market $119,900 Active 74 DOM
12. 2026-06-01
    days on market $119,900 Active 73 DOM
13. 2026-05-31
    days on market $119,900 Active 72 DOM
14. 2026-05-31
    days on market $119,900 Active 71 DOM
15. 2026-03-20
    listed $119,900 Active 978-char remark

    Show marketing remark (978 chars)

    Discover the perfect place to call home in the desirable 55+ community of Wagon City South! This charming 3-bedroom, 2-bath home sits on an oversized corner lot, offering comfort and convenience. Inside, enjoy a spacious living room filled with natural light, plus two dining areas ideal for everyday living. The kitchen features tiled countertops, ample cabinet space, a pantry, and updated appliances from 2021. A built-in hutch adds character and functionality. The Texas room is perfect for a home office or craft space and includes a new window A/C unit. The accessible primary suite offers a granite vanity and roll-in shower. Additional highlights include an attached one-car garage, workshop, fenced backyard, and mature trees. Recent upgrades include a new roof and siding in 2023, providing added peace of mind. This move-in-ready home comes fully furnished, making your transition seamless. Don’t miss this opportunity—schedule your private showing today!

16. 2024-09-12
    listed $129,900 Active
17. 2024-02-04
    price $117,900
18. 2023-12-21
    status Active
19. 2023-12-18
    status Pending
20. 2023-12-13
    historical Option
21. 2023-12-04
    listed $120,000 Active
22. 2021-05-17
    soldstatus Sold
23. 2021-04-21
    status Pending
24. 2021-03-31
    status Active
25. 2021-03-16
    historical Option
26. 2021-03-03
    price $64,900
27. 2021-01-19
    listed $69,900 Active
28. 2007-01-26
    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: $2,794 · $233/mo
• Projected year-2 tax: $2,794 · $233/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,153
• − Mortgage interest: −$6,716
• − Property taxes: −$2,794
• − Insurance: −$600
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − HOA: −$396
• − Depreciation: −$3,488
• Taxable income: $2,095
• Est. tax owed @ 24.0%: −$503
• After-tax cash flow: $3,294/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: Mission CISD
• NCES district ID: 4831040
• Math proficiency: 15% ▼ -35.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $32,855
• Composite: 17.47/100
• National rank: #9061
• State rank: #775 of 826 in TX

Livability — Mission

• Score: 75/100
• State rank: #148
• US rank: #4155

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mission, TX
• County: Hidalgo County · 623,128 people
• City population: 78,024
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 62,456
• Household income: $52,393
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 803.0

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 62% White 2%
• Hispanic origin (detail): Mexican 93%
• Foreign-born: 33% · Canada
• Languages at home: 12% English-only · Spanish 87%

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: —

Market trends

• HPI YoY: ▼ -44.13%
• Current HPI: 230.3323
• Rent YoY: —
• Metro: McAllen-Edinburg-Mission, 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

+71.5% since first listed

14 events — show timeline

• 2026-03-20 Listed $119,900 MCALLENMLS
• 2024-09-12 Listed $129,900 MCALLENMLS
• 2024-02-04 Price Changed $117,900 MCALLENMLS
• 2023-12-21 Relisted — MCALLENMLS
• 2023-12-18 Pending — MCALLENMLS
• 2023-12-13 Contingent — MCALLENMLS
• 2023-12-04 Listed $120,000 MCALLENMLS
• 2021-05-17 Sold (MLS) — MCALLENMLS
• 2021-04-21 Pending — MCALLENMLS
• 2021-03-31 Relisted — MCALLENMLS
• 2021-03-16 Contingent — MCALLENMLS
• 2021-03-03 Price Changed $64,900 MCALLENMLS
• 2021-01-19 Listed $69,900 MCALLENMLS
• 2007-01-26 Sold (Public Records) — Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,794 · +20.0% YoY. Source: county tax records.