817 E Parkwood Dr · Harlingen, TX 78550

$89,000

4 bd · 2.0 ba · 1,686 sqft · SingleFamily public records · 179 Days on market

Built 1952 9,646 sqft lot $53/sqft · 51% below area ↓ 41% 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 +3.7/5.0
• 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

Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it's gone.

Key facts

• 9,646 sq ft lot
• Built 1952
• Listed 179 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• This rent runs 35% of the median local income ($49k/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 $615 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.62% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.1

CMA / ARV

• ARV (median comp): $180,564
• List price: $89,000
• Delta: -47.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1913 Laurel Dr	0.08mi	3/2.0 (-1)	1,672 (-1%)	4mo	$209,900	$126	87
1647 Hamilton St	0.52mi	3/1.5 (-1)	1,629 (-3%)	11mo	$130,000	$80	54
208 Parkview Cir	0.46mi	3/2.0 (-1)	1,505 (-11%)	13mo	$235,000	$156	45
1110 E Polk Ave	0.66mi	4/1.5	1,761 (+4%)	21mo	$199,900	$114	43
2114 Lisa Ann Ave	0.75mi	3/2.0 (-1)	1,528 (-9%)	12mo	$190,000	$124	34
1200 E Pierce Ave	0.58mi	3/1.5 (-1)	1,454 (-14%)	18mo	$165,000	$113	28

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: 12.7%
• Equity multiple: 1.51×
• Total profit: $12,657
• Equity at exit: $13,270

10-year hold

• IRR: 22.0%
• Equity multiple: 2.93×
• Total profit: $48,016
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$467
• Tax from tax record: −$224 /mo · $2,684/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $413

Break-even live

Break-even rent $921

Max offer price $89,000

Occupancy floor 66%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1902 E Tyler Ave Harlingen, TX	2.0–3.0	1.0–2.0	1007	$1,060	$1.05	13d	6	0.24mi
2612 E Harrison Ave Unit 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	43d	1	0.51mi
2405 E Van Buren Ave Harlingen, TX	3.0	1.0	1370	$1,350	$0.99	43d	1	0.53mi
2708 E Harrison Ave Unit 2 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	43d	1	0.54mi
2712 E Harrison Ave Unit 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	43d	1	0.55mi
2209 E Jackson St Harlingen, TX	4.0	2.0	1356	$1,250	$0.92	43d	1	0.57mi
2014 E Monroe Ave Harlingen, TX	3.0	1.0	1148	$1,350	$1.18	21d	1	0.59mi
2805 E Harrison Ave Apt 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	21d	1	0.62mi
2809 E Harrison Ave Unit 2 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	43d	1	0.62mi
1809 Pease St Unit B Harlingen, TX	3.0	2.0	1442	$2,500	$1.73	43d	1	0.62mi
1501 Sam Houston Dr Harlingen, TX	3.0	1.5	1216	$1,004	$0.83	44d	1	0.75mi
2821 Lotus St Harlingen, TX	3.0	2.0	1946	$1,900	$0.98	43d	1	0.80mi
1802 E Washington Ave Unit 44 Harlingen, TX	3.0	2.0	1056	$1,050	$0.99	13d	1	0.85mi
1802 E Washington Ave Unit 94 Harlingen, TX	3.0	2.0	1056	$825	$0.78	13d	1	0.85mi
1802 E Washington Ave Harlingen, TX	1.0–3.0	1.0–2.0	848	$1,050	$1.24	21d	1	0.88mi
2813 Quail Run St Unit A Harlingen, TX	3.0	2.5	1450	$1,450	$1.00	43d	1	0.93mi
2906 Treasure Hills Blvd Unit C Harlingen, TX	3.0	2.0	1220	$1,250	$1.02	21d	1	0.97mi
1600 Clinton St Unit 1 Harlingen, TX	3.0	2.0	1050	$1,495	$1.42	43d	1	1.03mi
1604 Clinton St Unit 1 Harlingen, TX	3.0	2.0	1050	$1,495	$1.42	43d	1	1.03mi
1802 Bobcat Ln Harlingen, TX	3.0	2.0	1100	$1,450	$1.32	13d	1	1.07mi
2802 Austrian Pine Ct Harlingen, TX	3.0	2.0	1614	$1,650	$1.02	13d	1	1.10mi
1827 Pheasant Dr Harlingen, TX	3.0	2.5	1307	$1,650	$1.26	13d	1	1.10mi
2901 Haine Dr Harlingen, TX	3.0	2.0	1111	$1,389	$1.25	13d	1	1.25mi
3701 N Arroyo Park Ln Unit 2 Harlingen, TX	3.0	2.5	1400	$1,400	$1.00	13d	1	1.27mi
3701 N Arroyo Park Ln #1 Harlingen, TX	4.0	3.5	1700	$1,500	$0.88	13d	1	1.27mi
3509 N Arroyo Park Ln Unit B Harlingen, TX	3.0	2.0	1244	$1,450	$1.17	43d	1	1.28mi
813 W Arroyo Park Ln Apt B Harlingen, TX	3.0	2.5	1200	$1,300	$1.08	43d	1	1.32mi
1813 Lazy Lake Dr Harlingen, TX	3.0	2.0	1836	$2,400	$1.31	43d	1	1.36mi

Listing history 9 events

1. 2026-06-01
   pricestatusdays on marketlisting id $89,000 Pending 179 DOM
2. 2026-05-31
   days on market $95,000 Active 165 DOM
3. 2026-05-30
   days on market $95,000 Active 164 DOM
4. 2026-04-29
   status Pending 371-char remark

   Show marketing remark (371 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it's gone.

5. 2026-04-17
   price $89,000 371-char remark

   Show marketing remark (371 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it's gone.

6. 2026-01-29
   price $95,000 371-char remark

   Show marketing remark (377 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it’s gone.

7. 2026-01-29
   price $95,000 377-char remark

   Show marketing remark (377 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it’s gone.

8. 2025-12-17
   listed $149,000 Active 377-char remark

   Show marketing remark (377 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it’s gone.

9. 2025-11-01
   listed $149,900 Active 371-char remark

   Show marketing remark (371 chars)

   Investor opportunity. Property has known foundation issues, will need a new roof, and requires full interior and exterior updates. Sold as-is. Not suitable for FHA or VA financing. Ideal for investors or cash buyers looking for a value-add renovation project. Buyer to verify all information, condition, and repair estimates. Schedule your showing today before it's gone.

ⓘ 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: $2,684 · $224/mo
• Projected year-2 tax: $2,684 · $224/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $17,330
• − Mortgage interest: −$4,985
• − Property taxes: −$2,684
• − Insurance: −$445
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$2,589
• Taxable income: $3,854
• Est. tax owed @ 24.0%: −$925
• After-tax cash flow: $4,036/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

-40.6% since first listed

6 events — show timeline

• 2026-04-29 Pending — RGVMLS
• 2026-04-17 Price Changed $89,000 RGVMLS
• 2026-01-29 Price Changed $95,000 RGVMLS
• 2026-01-29 Price Changed $95,000 MCALLENMLS
• 2025-12-17 Listed $149,000 MCALLENMLS
• 2025-11-01 Listed $149,900 RGVMLS

Property tax history

+2.8%/yr

Latest (2025): $2,684 · -30.2% YoY. Source: county tax records.