300 E 3rd St · Del Rio, TX 78840

$199,000

5 bd · 1.0 ba · 3,381 sqft · MultiFamily public records · 837 Days on market

Built 1971 8,276 sqft lot $59/sqft · 69% below area ↓ 20% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 300 E 3rd St, a 3,381-square-foot investment opportunity with exceptional versatility. Zoned for either single-family or multi-family use, this distinctive two-story property offers 5+ bedrooms and 4 baths, making it ideal for anyone with a vision to renovate, expand, or reimagine the space. Recent upgrades include a newer metal roof and two new water heaters, providing a solid foundation for future improvements. Schedule a tour to explore the full potential and discover the many possibilities this property has to offer.

Key facts

• 8,276 sq ft lot
• Built 1971
• Listed 836 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $175k (12.0% 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; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).
• At $3,617/mo this rent would consume 66% of the median local household income ($66k/yr) (locally 1111% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 837 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $31k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 837 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 1971 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.46%
• DSCR: 2.27
• GRM: 4.6

CMA / ARV

• ARV (median comp): $646,061
• List price: $199,000
• Delta: -69.20%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.84×
• Total profit: $46,863
• Equity at exit: $29,672

10-year hold

• IRR: 28.1%
• Equity multiple: 3.32×
• Total profit: $129,066
• Equity at exit: $17,206

Cash invested: $55,720 (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: 13.8×

Monthly cashflow live

• Estimated rent: $3,617 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$410 /mo · $4,915/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $1,321

Break-even live

Break-even rent $1,944

Max offer price $199,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,434	-5% $1,378	+0% $1,321	+5% $1,265	+10% $1,209
Rent	-10% $1,036	-5% $1,178	+0% $1,321	+5% $1,464	+10% $1,607
Rate	-1.0pp $1,422	-0.5pp $1,372	base $1,321	+0.5pp $1,270	+1.0pp $1,217

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,618
Total (3 units)			$3,617

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $199,000 Active 837 DOM
2. 2026-06-18
   days on market $199,000 Active 836 DOM
3. 2026-06-17
   days on market $199,000 Active 835 DOM
4. 2026-06-16
   days on market $199,000 Active 834 DOM
5. 2026-06-15
   days on market $199,000 Active 833 DOM
6. 2026-06-14
   days on market $199,000 Active 831 DOM
7. 2026-06-12
   days on market $199,000 Active 830 DOM
8. 2026-06-09
   days on market $199,000 Active 827 DOM
9. 2026-06-08
   days on market $199,000 Active 826 DOM
10. 2026-06-07
    days on market $199,000 Active 825 DOM
11. 2026-06-05
    days on market $199,000 Active 822 DOM
12. 2026-06-03
    days on market $199,000 Active 821 DOM
13. 2026-06-02
    days on market $199,000 Active 820 DOM
14. 2026-06-01
    days on market $199,000 Active 819 DOM
15. 2026-05-31
    days on market $199,000 Active 818 DOM
16. 2026-05-30
    days on market $199,000 Active 817 DOM
17. 2026-02-02
    price $199,000 537-char remark

    Show marketing remark (537 chars)

    Welcome to 300 E 3rd St, a 3,381-square-foot investment opportunity with exceptional versatility. Zoned for either single-family or multi-family use, this distinctive two-story property offers 5+ bedrooms and 4 baths, making it ideal for anyone with a vision to renovate, expand, or reimagine the space. Recent upgrades include a newer metal roof and two new water heaters, providing a solid foundation for future improvements. Schedule a tour to explore the full potential and discover the many possibilities this property has to offer.

18. 2025-10-02
    price $210,000 537-char remark

    Show marketing remark (537 chars)

    Welcome to 300 E 3rd St, a 3,381-square-foot investment opportunity with exceptional versatility. Zoned for either single-family or multi-family use, this distinctive two-story property offers 5+ bedrooms and 4 baths, making it ideal for anyone with a vision to renovate, expand, or reimagine the space. Recent upgrades include a newer metal roof and two new water heaters, providing a solid foundation for future improvements. Schedule a tour to explore the full potential and discover the many possibilities this property has to offer.

19. 2024-03-04
    listed $230,000 Active 537-char remark

    Show marketing remark (537 chars)

    Welcome to 300 E 3rd St, a 3,381-square-foot investment opportunity with exceptional versatility. Zoned for either single-family or multi-family use, this distinctive two-story property offers 5+ bedrooms and 4 baths, making it ideal for anyone with a vision to renovate, expand, or reimagine the space. Recent upgrades include a newer metal roof and two new water heaters, providing a solid foundation for future improvements. Schedule a tour to explore the full potential and discover the many possibilities this property has to offer.

20. 2022-08-11
    listed $250,000 Active
21. 2021-04-21
    listed $250,000
22. 1993-12-13
    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: $4,915 · $410/mo
• Projected year-2 tax: $4,915 · $410/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $43,404
• − Mortgage interest: −$11,147
• − Property taxes: −$4,915
• − Insurance: −$995
• − Repairs & maintenance: −$3,472
• − Management: −$3,472
• − Depreciation: −$5,789
• Taxable income: $13,613
• Est. tax owed @ 24.0%: −$3,267
• After-tax cash flow: $12,589/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

-20.4% since first listed

6 events — show timeline

• 2026-02-02 Price Changed $199,000 DRBORMLS
• 2025-10-02 Price Changed $210,000 DRBORMLS
• 2024-03-04 Listed $230,000 DRBORMLS
• 2022-08-11 Listed $250,000 DRBORMLS
• 2021-04-21 Listed $250,000 DRBORMLS
• 1993-12-13 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $4,915 · +2.0% YoY. Source: county tax records.