807 E Starr St · Mercedes, TX 78570

$420,000

None bd · None ba · 4,050 sqft · MultiFamily · 226 Days on market

Built 2024 Good condition 10,000 sqft lot $104/sqft · 6% below area Est $449k · 6% under ↓ 23% since listing

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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 +20.1/30.0
• ARV discount +10.4/15.0
• Appreciation +7.3/10.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Brand new fourplex conveniently situated just moments from the expressway and a short drive from the Rio Grande Valley Premium Outlets! Enjoy a contemporary open-concept layout adorned with wood-like tile flooring throughout. The kitchen boasts custom ceiling-high cabinets, sleek quartz countertops, and an expansive island with ample cabinet space. Generously sized bedrooms feature large closets, while the master bedroom impresses with a spacious bathroom and closet. Each unit offers a private fenced backyard for added privacy. Plus, every unit comes equipped with brand-new refrigerator, stove, microwave, washer, and dryer. With eight carport spaces available, future tenants will appreciate the convenience. Tenants will be responsible for their own utilities, making this an exceptional investment opportunity with immediate cash flow potential!

Key facts

• Expansive island
• Quartz countertops
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• WOOD-LIKE TILE FLOORING
• CUSTOM CEILING-HIGH CABINETS
• QUARTZ COUNTERTOPS
• EXPANSIVE ISLAND
• PRIVATE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $420k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive. Per door: $131/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $420k).
• Recommended offer: $370k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.4% in Mercedes — 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 67/100 on livability (#547 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, amenities F.
• Mercedes ISD (suburban): math 12% / reading 21% proficiency, ranked #811 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 392 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($3k loan paydown + $19k appreciation (4.5% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $118k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $49k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $369,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (median comp): $449,093
• List price: $420,000
• Delta: -6.48%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 E Starr St	0.03mi	—/—	4,050 (0%)	6mo	$439,000	$108	94
1014 Starr St	0.69mi	—/—	4,050 (0%)	8mo	$470,000	$116	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.01×
• Total profit: $118,987
• Equity at exit: $226,000

10-year hold

• IRR: 16.9%
• Equity multiple: 3.86×
• Total profit: $336,661
• Equity at exit: $380,461

Cash invested: $117,600 (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 78570

• Home prices YoY: 1.9%
• Active inventory: 392
• Price-to-rent: 32.3×

Monthly cashflow live

• Estimated rent: $4,338 high
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$911
• Net cashflow: $524

Break-even live

Break-even rent $3,674

Max offer price $420,000

Occupancy floor 83%

Sensitivity live

Price	-10% $815	-5% $670	+0% $524	+5% $379	+10% $234
Rent	-10% $182	-5% $353	+0% $524	+5% $696	+10% $867
Rate	-1.0pp $736	-0.5pp $631	base $524	+0.5pp $416	+1.0pp $305

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,336
Total (4 units)			$4,338

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $420,000 Active 226 DOM
2. 2026-06-18
   days on market $420,000 Active 224 DOM
3. 2026-06-17
   days on market $420,000 Active 223 DOM
4. 2026-06-16
   days on market $420,000 Active 222 DOM
5. 2026-06-15
   days on market $420,000 Active 221 DOM
6. 2026-06-15
   days on market $420,000 Active 220 DOM
7. 2026-06-13
   days on market $420,000 Active 219 DOM
8. 2026-06-12
   days on market $420,000 Active 218 DOM
9. 2026-06-10
   days on market $420,000 Active 215 DOM
10. 2026-06-08
    days on market $420,000 Active 214 DOM
11. 2026-06-08
    days on market $420,000 Active 213 DOM
12. 2026-06-07
    days on market $420,000 Active 212 DOM
13. 2026-06-03
    days on market $420,000 Active 209 DOM
14. 2026-06-02
    days on market $420,000 Active 208 DOM
15. 2026-06-01
    days on market $420,000 Active 207 DOM
16. 2026-05-31
    days on market $420,000 Active 206 DOM
17. 2026-03-02
    price $420,000 855-char remark

    Show marketing remark (855 chars)

    Brand new fourplex conveniently situated just moments from the expressway and a short drive from the Rio Grande Valley Premium Outlets! Enjoy a contemporary open-concept layout adorned with wood-like tile flooring throughout. The kitchen boasts custom ceiling-high cabinets, sleek quartz countertops, and an expansive island with ample cabinet space. Generously sized bedrooms feature large closets, while the master bedroom impresses with a spacious bathroom and closet. Each unit offers a private fenced backyard for added privacy. Plus, every unit comes equipped with brand-new refrigerator, stove, microwave, washer, and dryer. With eight carport spaces available, future tenants will appreciate the convenience. Tenants will be responsible for their own utilities, making this an exceptional investment opportunity with immediate cash flow potential!

18. 2025-11-24
    price $439,000 855-char remark

    Show marketing remark (855 chars)

    Brand new fourplex conveniently situated just moments from the expressway and a short drive from the Rio Grande Valley Premium Outlets! Enjoy a contemporary open-concept layout adorned with wood-like tile flooring throughout. The kitchen boasts custom ceiling-high cabinets, sleek quartz countertops, and an expansive island with ample cabinet space. Generously sized bedrooms feature large closets, while the master bedroom impresses with a spacious bathroom and closet. Each unit offers a private fenced backyard for added privacy. Plus, every unit comes equipped with brand-new refrigerator, stove, microwave, washer, and dryer. With eight carport spaces available, future tenants will appreciate the convenience. Tenants will be responsible for their own utilities, making this an exceptional investment opportunity with immediate cash flow potential!

19. 2025-11-05
    listed $469,000 Active 855-char remark

    Show marketing remark (855 chars)

    Brand new fourplex conveniently situated just moments from the expressway and a short drive from the Rio Grande Valley Premium Outlets! Enjoy a contemporary open-concept layout adorned with wood-like tile flooring throughout. The kitchen boasts custom ceiling-high cabinets, sleek quartz countertops, and an expansive island with ample cabinet space. Generously sized bedrooms feature large closets, while the master bedroom impresses with a spacious bathroom and closet. Each unit offers a private fenced backyard for added privacy. Plus, every unit comes equipped with brand-new refrigerator, stove, microwave, washer, and dryer. With eight carport spaces available, future tenants will appreciate the convenience. Tenants will be responsible for their own utilities, making this an exceptional investment opportunity with immediate cash flow potential!

20. 2024-09-16
    price $495,000
21. 2024-07-17
    price $489,000
22. 2024-06-05
    listed $509,000 Active
23. 2024-01-25
    listed $549,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $52,056
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$4,164
• − Management: −$4,164
• − Depreciation: −$12,218
• Taxable loss: −$418
• Est. tax savings @ 24.0%: +$100
• After-tax cash flow: $6,394/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This fourplex is in excellent condition with modern design and features. It is move-in ready and has a good resale and rental value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more potential buyers or renters.
• Both Add smart home features — Improves convenience and can increase the home's value in the current market.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more potential buyers or renters. ↑
• Both Add smart home features — Improves convenience and can increase the home's value in the current market. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mercedes ISD
• NCES district ID: 4830250
• Math proficiency: 12% ▼ -26.00%
• Reading proficiency: 21% ▼ -10.00%
• Median HH income: $27,606
• Composite: 12.84/100
• National rank: #9596
• State rank: #811 of 826 in TX

Livability — Mercedes

• Score: 67/100
• State rank: #547
• US rank: #10619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mercedes, TX
• City population: 33,596
• Population (ZIP): 33,596

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 44% White 4%
• Hispanic origin (detail): Mexican 91%
• Foreign-born: 20% · Canada
• Languages at home: 18% English-only · Spanish 82%

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: ▲ 4.53%
• Current HPI: 238.8386
• Rent YoY: —
• Metro: —
• 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

-23.5% since first listed

7 events — show timeline

• 2026-03-02 Price Changed $420,000 MCALLENMLS
• 2025-11-24 Price Changed $439,000 MCALLENMLS
• 2025-11-05 Listed $469,000 MCALLENMLS
• 2024-09-16 Price Changed $495,000 MCALLENMLS
• 2024-07-17 Price Changed $489,000 MCALLENMLS
• 2024-06-05 Listed $509,000 MCALLENMLS
• 2024-01-25 Listed $549,000 MCALLENMLS