2408 Meadowlark St · Palmview, TX 78572

$79,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 129 Days on market

Built 1997 2,874 sqft lot $101/sqft · 44% below area Est $141k · 44% under $70/mo HOA · 7% of rent

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +8.1/10.0
• Livability +2.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained mobile home located in a desirable 55+ community in the Rio Grande Valley of South Texas. This home features a large covered porch with a wheelchair-accessible ramp, providing convenient and comfortable access. Additional highlights include a storage shed and a recently replaced water heater. The community offers a pool and an activity center for residents to enjoy an active lifestyle. Conveniently situated near local shopping, dining, and medical facilities. Buyer to verify community rules, age requirements, and/or restrictions.

Key facts

• Covered porch
• Community pool
• Storage shed

Tags

• COVERED PORCH
• WHEELCHAIR-ACCESSIBLE RAMP
• STORAGE SHED
• RECENTLY REPLACED WATER HEATER
• COMMUNITY POOL
• ACTIVITY CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.2% in Palmview — 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 57/100 on livability (#1,267 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D, schools F, amenities F.
• La Joya ISD (suburban): math 18% / reading 29% proficiency, ranked #759 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 852 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask is 10094% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 F-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. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 6.3

CMA / ARV

• ARV (median comp): $141,152
• List price: $79,000
• Delta: -44.03%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2423 Bobolink Cir E #299	0.06mi	2/1.5	800 (+2%)	17mo	$99,750	$125	78
59 Lampshire Ave	0.38mi	1/1.0 (-1)	736 (-6%)	12mo	$75,000	$102	57

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 · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-2,808
• Equity at exit: $11,779

10-year hold

• IRR: 3.5%
• Equity multiple: 1.23×
• Total profit: $5,003
• Equity at exit: $6,830

Cash invested: $22,120 (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 78572

• Home prices YoY: -22.9%
• Rents YoY: 0.9%
• Active inventory: 852
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$113 /mo · $1,359/yr
• Insurance: −$33
• HOA: −$70
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $189

Break-even live

Break-even rent $798

Max offer price $79,000

Occupancy floor 77%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4321 Royal Palm Dr Mission, TX	2.0	1.0	572	$800	$1.40	23d	1	0.53mi
2508 U.S. 83 Business Unit 16 Mission, TX	2.0	1.0	650	$730	$1.12	23d	1	1.18mi

HOA detail

• Monthly dues: $70 · $840/yr
• Likely covers: waterpool

Listing history 25 events

1. 2026-06-18
   days on market $79,000 Active 129 DOM
2. 2026-06-17
   days on market $79,000 Active 128 DOM
3. 2026-06-16
   days on market $79,000 Active 127 DOM
4. 2026-06-15
   days on market $79,000 Active 126 DOM
5. 2026-06-14
   days on market $79,000 Active 124 DOM
6. 2026-06-13
   days on market $79,000 Active 123 DOM
7. 2026-06-10
   days on market $79,000 Active 121 DOM
8. 2026-06-09
   days on market $79,000 Active 120 DOM
9. 2026-06-08
   days on market $79,000 Active 119 DOM
10. 2026-06-07
    days on market $79,000 Active 118 DOM
11. 2026-06-05
    days on market $79,000 Active 115 DOM
12. 2026-06-03
    days on market $79,000 Active 114 DOM
13. 2026-06-02
    days on market $79,000 Active 113 DOM
14. 2026-06-01
    days on market $79,000 Active 112 DOM
15. 2026-05-31
    days on market $79,000 Active 111 DOM
16. 2026-05-31
    days on market $79,000 Active 110 DOM
17. 2026-03-31
    listed $775
18. 2026-02-24
    price $79,000 551-char remark

    Show marketing remark (551 chars)

    Well-maintained mobile home located in a desirable 55+ community in the Rio Grande Valley of South Texas. This home features a large covered porch with a wheelchair-accessible ramp, providing convenient and comfortable access. Additional highlights include a storage shed and a recently replaced water heater. The community offers a pool and an activity center for residents to enjoy an active lifestyle. Conveniently situated near local shopping, dining, and medical facilities. Buyer to verify community rules, age requirements, and/or restrictions.

19. 2026-02-09
    listed $84,500 Active 551-char remark

    Show marketing remark (551 chars)

    Well-maintained mobile home located in a desirable 55+ community in the Rio Grande Valley of South Texas. This home features a large covered porch with a wheelchair-accessible ramp, providing convenient and comfortable access. Additional highlights include a storage shed and a recently replaced water heater. The community offers a pool and an activity center for residents to enjoy an active lifestyle. Conveniently situated near local shopping, dining, and medical facilities. Buyer to verify community rules, age requirements, and/or restrictions.

20. 2023-12-18
    soldstatus
21. 2023-12-15
    soldstatus Sold 508-char remark

    Show marketing remark (508 chars)

    PRICED TO SELL!!! Certified 55+ Gated community. This 784 sq ft. 2 bedroom 1 bath module home is a FIXER UPPPER!!!. The home needs updating from the bedroom to the kitchen. You can own your own lot and make this home your own. The home has a working, refrigerator, washer/dryer and a stove that will convey. Green Gate Grove offers many amenities, such as an indoor pickle ball court, club house, pool hall, card room, library, saltwater pool with jacuzzi. Come and enjoy your winters in Palmview, TX.

22. 2023-10-11
    status Pending 508-char remark

    Show marketing remark (508 chars)

    PRICED TO SELL!!! Certified 55+ Gated community. This 784 sq ft. 2 bedroom 1 bath module home is a FIXER UPPPER!!!. The home needs updating from the bedroom to the kitchen. You can own your own lot and make this home your own. The home has a working, refrigerator, washer/dryer and a stove that will convey. Green Gate Grove offers many amenities, such as an indoor pickle ball court, club house, pool hall, card room, library, saltwater pool with jacuzzi. Come and enjoy your winters in Palmview, TX.

23. 2023-10-06
    listed $39,900 Active 508-char remark

    Show marketing remark (508 chars)

    PRICED TO SELL!!! Certified 55+ Gated community. This 784 sq ft. 2 bedroom 1 bath module home is a FIXER UPPPER!!!. The home needs updating from the bedroom to the kitchen. You can own your own lot and make this home your own. The home has a working, refrigerator, washer/dryer and a stove that will convey. Green Gate Grove offers many amenities, such as an indoor pickle ball court, club house, pool hall, card room, library, saltwater pool with jacuzzi. Come and enjoy your winters in Palmview, TX.

24. 2004-02-13
    soldstatus
25. 2001-04-25
    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: $1,359 · $113/mo
• Projected year-2 tax: $1,446 · $120/mo
• Expected delta: +$87/yr (+$7/mo · 6.4%)

ⓘ 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 8/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% 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: $12,448
• − Mortgage interest: −$4,425
• − Property taxes: −$1,359
• − Insurance: −$395
• − Repairs & maintenance: −$996
• − Management: −$996
• − HOA: −$840
• − Depreciation: −$2,298
• Taxable income: $1,139
• Est. tax owed @ 24.0%: −$273
• After-tax cash flow: $1,995/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: La Joya ISD
• NCES district ID: 4826130
• Math proficiency: 18% ▼ -35.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $27,845
• Composite: 18.65/100
• National rank: #8891
• State rank: #759 of 826 in TX

Livability — Palmview

• Score: 57/100
• State rank: #1267
• US rank: #22043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmview, TX
• County: Hidalgo County · 623,128 people
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 78,024
• Household income: $54,298
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 1714.0

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 (85%)
• Race & ethnicity: Hispanic / Latino 85% Two or more races 47% White 12% Asian 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Slovak 1% Portuguese 0%
• Foreign-born: 28% · Canada, South Korea
• Languages at home: 22% English-only · Spanish 76%

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: ▼ -62.35%
• Current HPI: 209.3573
• Rent YoY: ▲ 0.93%
• 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

+98.0% since first listed

9 events — show timeline

• 2026-03-31 Listed for Rent $775 MCALLENMLS
• 2026-02-24 Price Changed $79,000 MCALLENMLS
• 2026-02-09 Listed $84,500 MCALLENMLS
• 2023-12-18 Sold (Public Records) — Public Records
• 2023-12-15 Sold (MLS) — MCALLENMLS
• 2023-10-11 Pending — MCALLENMLS
• 2023-10-06 Listed $39,900 MCALLENMLS
• 2004-02-13 Sold (Public Records) — Public Records
• 2001-04-25 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,359 · +5.2% YoY. Source: county tax records.