4666 W Huckleberry St

Edinburg, TX 78541

$479,000D-

None bd · None ba · 3,705 sqft · Built 2024 · MultiFamily · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,370/mo
• Mortgage (P&I): −$2,754
• Tax + insurance: −$875
• HOA: −$42
• Vac / Maint / Mgmt: −$918
• Net cashflow: $-219/mo
• Annual: $-2,623/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• 1% rule: 0.83%
• Cash to close: $147,031

Investor read

• This is a 3×2bd/2ba + 1×1bd/1ba units multifamily listed at $479k. Condition is rated excellent.
• At list price, monthly cash flow is $-219 ($-3k/yr) — negative. Per door: $-55/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $437k (8.8% below list).
• It's been on market 100 days — a 9% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $436k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#784 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Edinburg CISD (urban): math 20% / reading 34% proficiency, ranked #699 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: R C Flores-Mark A Zapata El (math 38% / reading 38%, grade F, #1,709 of 4,322 statewide, top 40%, 521 students, 80% FRL); Elias Longoria Sr Middle (math 16% / reading 35%, grade F, #1,236 of 1,662 statewide, top 76%, 804 students, 82% FRL); Robert R Vela H S (math 27% / reading 48%, grade F, #888 of 1,632 statewide, top 55%, 2,189 students, 62% FRL).
• Market conditions: Rents rising (+2.0%/yr); 932 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% 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).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.1% in Edinburg — 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.

Questions for listing agent

• 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?
• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?