2202 Corales St · Mission, TX 78573

$275,500

3 bd · 2.5 ba · 1,574 sqft · Land · 55 Days on market

Built 2025 3,517 sqft lot $175/sqft · 140% above area $50/mo HOA · 3% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.3/30.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

Brand-new two-story townhome in the prestigious Shary Oaks Luxury Community! This stunning corner-lot residence features 3 bedrooms and 2.5 baths, with the primary suite conveniently located on the first floor. Designed with a modern open-concept layout, the home is filled with abundant natural light and showcases sleek, contemporary finishes throughout. The gourmet kitchen is perfect for both everyday living and entertaining, stove and SS fridge will be provided before closing. Upstairs, the secondary bedrooms offer comfort and versatility for family, guests, or a home office, with one bedroom featuring a private balcony—ideal for relaxing or enjoying morning coffee. Enjoy a private backyard and access to the gated community’s resort-style pool and beautifully landscaped grounds. Ideally located near shopping, dining, and major roadways, and zoned to the highly regarded Sharyland ISD. Seller concession available

Key facts

• Gated community
• Private balcony
• Private backyard

Tags

• CORNER-LOT RESIDENCE
• MODERN OPEN-CONCEPT LAYOUT
• GOURMET KITCHEN
• PRIVATE BALCONY
• PRIVATE BACKYARD
• GATED COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $276k.

Deal economics

• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (29.6% below list).
• Recommended offer: $194k (29.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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.
• Sharyland ISD (urban): math 34% / reading 44% proficiency, ranked #406 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 623 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 42% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $193,833 (29.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.70% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.17%
• DSCR: 0.86
• GRM: 11.8

CMA / ARV

• ARV (median comp): $114,662
• List price: $275,500
• Delta: 140.27%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 2.45% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 2.76×
• Total profit: $135,919
• Equity at exit: $248,192

10-year hold

• IRR: 19.6%
• Equity multiple: 6.29×
• Total profit: $408,205
• Equity at exit: $535,236

Cash invested: $77,140 (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 78573

• Home prices YoY: 8.0%
• Rents YoY: 2.5%
• Active inventory: 623
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$1,445
• Tax from tax record: −$126 /mo · $1,507/yr
• Insurance: −$115
• HOA: −$50
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-204

Break-even live

Break-even rent $2,196

Max offer price $239,487

Occupancy floor —

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: $68,875
• Closing costs: $8,265
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2225 Dorado Dr Mission, TX	3.0	2.5	1839	$2,100	$1.14	21d	1	0.11mi
2313 Dorado Dr Mission, TX	3.0	2.5	1800	$2,100	$1.17	43d	1	0.15mi
2319 Dorado Dr Mission, TX	3.0	2.5	1583	$1,900	$1.20	43d	1	0.17mi
4616 Larkspur Ave Unit 3 McAllen, TX	3.0	2.0	1053	$1,100	$1.04	43d	1	1.03mi
2609 May Ave Mission, TX	3.0	2.0	1670	$1,800	$1.08	43d	1	1.03mi
2401 E 27th St Mission, TX	3.0	2.0	1727	$1,850	$1.07	23d	1	1.07mi
2614 E Solar Dr Mission, TX	3.0	2.5	1492	$3,000	$2.01	23d	1	1.08mi
2505 E Solar Dr Mission, TX	3.0	3.5	1550	$2,300	$1.48	43d	1	1.09mi
4501 Larkspur Ave Unit 1 McAllen, TX	3.0	2.0	1050	$1,290	$1.23	43d	1	1.14mi
2514 Yarrow St Mission, TX	3.0	2.0	1682	$2,700	$1.61	23d	1	1.20mi
2111 E 25th St Mission, TX	3.0	2.5	2239	$2,000	$0.89	43d	1	1.20mi
2516 Wisteria Dr Mission, TX	4.0	3.0	2066	$2,800	$1.36	14d	1	1.20mi
4705 Violet Ave McAllen, TX	3.0	2.0	1805	$2,100	$1.16	43d	1	1.23mi
4705 Violet Ave McAllen, TX	3.0	2.0	1805	$2,000	$1.11	23d	1	1.23mi
4830 N 47th Ln McAllen, TX	4.0	2.5	1704	$2,222	$1.30	43d	1	1.27mi
1412 E 28th St Mission, TX	4.0	3.0	2068	$2,300	$1.11	23d	1	1.32mi
4007 N 42nd Ln McAllen, TX	3.0	2.0	1580	$1,750	$1.11	43d	1	1.35mi
4616 Xanthisma Ave McAllen, TX	3.0	2.0	1332	$1,950	$1.46	14d	1	1.35mi
5125 Sequoia Ave McAllen, TX	3.0	2.5	1896	$2,600	$1.37	43d	1	1.43mi
2304 N 45th St McAllen, TX	3.0	2.5	1669	$2,500	$1.50	18d	1	1.48mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: landscapingpoolsecurity

Listing history 16 events

1. 2026-06-01
   days on market $275,500 Active 55 DOM
2. 2026-05-31
   days on market $275,500 Active 54 DOM
3. 2026-05-31
   days on market $275,500 Active 53 DOM
4. 2026-05-12
   price $275,500 942-char remark

   Show marketing remark (942 chars)

   Brand-new two-story townhome in the prestigious Shary Oaks Luxury Community! This stunning corner-lot residence features 3 bedrooms and 2.5 baths, with the primary suite conveniently located on the first floor. Designed with a modern open-concept layout, the home is filled with abundant natural light and showcases sleek, contemporary finishes throughout. The gourmet kitchen is perfect for both everyday living and entertaining, stove and SS fridge will be provided before closing. Upstairs, the secondary bedrooms offer comfort and versatility for family, guests, or a home office, with one bedroom featuring a private balcony—ideal for relaxing or enjoying morning coffee. Enjoy a private backyard and access to the gated community’s resort-style pool and beautifully landscaped grounds. Ideally located near shopping, dining, and major roadways, and zoned to the highly regarded Sharyland ISD. Seller concession available

5. 2026-04-07
   listed $295,000 Active 942-char remark

   Show marketing remark (942 chars)

   Brand-new two-story townhome in the prestigious Shary Oaks Luxury Community! This stunning corner-lot residence features 3 bedrooms and 2.5 baths, with the primary suite conveniently located on the first floor. Designed with a modern open-concept layout, the home is filled with abundant natural light and showcases sleek, contemporary finishes throughout. The gourmet kitchen is perfect for both everyday living and entertaining, stove and SS fridge will be provided before closing. Upstairs, the secondary bedrooms offer comfort and versatility for family, guests, or a home office, with one bedroom featuring a private balcony—ideal for relaxing or enjoying morning coffee. Enjoy a private backyard and access to the gated community’s resort-style pool and beautifully landscaped grounds. Ideally located near shopping, dining, and major roadways, and zoned to the highly regarded Sharyland ISD. Seller concession available

6. 2026-02-11
   historical $2,100
7. 2026-01-14
   soldstatus
8. 2025-12-31
   listed $2,100
9. 2025-12-28
   historical $2,100
10. 2025-12-27
    listed $2,100
11. 2025-12-26
    historical $2,100
12. 2025-12-25
    listed $2,100
13. 2025-11-11
    price $306,000
14. 2025-05-15
    listed $339,900 Active
15. 2024-05-20
    status Pending
16. 2023-06-09
    listed $63,000 Active

ⓘ 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: $1,507 · $126/mo
• Projected year-2 tax: $5,042 · $420/mo
• Expected delta: +$3,534/yr (+$295/mo · 234.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $23,260
• − Mortgage interest: −$15,432
• − Property taxes: −$1,507
• − Insurance: −$1,378
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − HOA: −$600
• − Depreciation: −$8,015
• Taxable loss: −$7,393
• Est. tax savings @ 24.0%: +$1,774
• After-tax cash flow: $-672/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: Sharyland ISD
• NCES district ID: 4839930
• Math proficiency: 34% ▼ -35.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $57,792
• Composite: 34.38/100
• National rank: #5214
• State rank: #406 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): 44,809
• Household income: $55,000
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 855.0

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 63% White 3%
• Hispanic origin (detail): Mexican 94%
• Foreign-born: 28% · Canada
• Languages at home: 12% English-only · Spanish 88%

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: ▲ 17.95%
• Current HPI: 242.0711
• Rent YoY: ▲ 2.45%
• 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

+337.3% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $275,500 MCALLENMLS
• 2026-04-07 Listed $295,000 MCALLENMLS
• 2026-02-11 Rental Removed $2,100 RENTSPREE
• 2026-01-14 Sold (Public Records) — Public Records
• 2025-12-31 Listed for Rent $2,100 RENTSPREE
• 2025-12-28 Rental Removed $2,100 MCALLENMLS
• 2025-12-27 Listed for Rent $2,100 MCALLENMLS
• 2025-12-26 Rental Removed $2,100 MCALLENMLS
• 2025-12-25 Listed for Rent $2,100 MCALLENMLS
• 2025-11-11 Price Changed $306,000 MCALLENMLS
• 2025-05-15 Listed $339,900 MCALLENMLS
• 2024-05-20 Pending — MCALLENMLS
• 2023-06-09 Listed $63,000 MCALLENMLS

Property tax history

+10.9%/yr

Latest (2025): $1,507 · +0.0% YoY. Source: county tax records.