602 Basswood Dr #201 · Laredo, TX 78045

$1,500

2 bd · 2.5 ba · 1,100 sqft · SingleFamily · 14 Days on market

Built 2015 2,533 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stylish 2BR/2.5BA condo designed for comfort and privacy! Each spacious bedroom features its own private full bath, plus an additional half bath for guests. Enjoy an open-concept living area, modern finishes, and a layout perfect for roommates, professionals, or small families. Conveniently located near shopping, dining, and entertainment this is the perfect place to call home. Don’t miss this exceptional rental opportunity!

Key facts

• 2,533 sq ft lot
• Built 2015
• Listed 13 days

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Underground utilities
• Home design: Condo/Townhouse; 2 stories
• Construction: Stucco construction; Slab foundation
• Exterior features: Wood fencing; Level lot; Corner lot; Gated community

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Electric heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• Cap rate 860.4% vs local median 4.1% in Laredo — 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 (#227 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D+.
• United ISD (urban): math 27% / reading 38% proficiency, ranked #568 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 396 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,448 units permitted in Webb County in 2024 (245 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10 of loan paydown is wiped out by about $45 of value loss. Plan a longer hold.
• Webb County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $420 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $1,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 90.97% ✓
• Cap rate: 860.43%
• Cash-on-cash: 3050.50%
• DSCR: 136.73
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.7% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 168.03×
• Total profit: $70,152
• Equity at exit: $224

10-year hold

• IRR: —
• Equity multiple: 379.14×
• Total profit: $158,817
• Equity at exit: $130

Cash invested: $420 (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 78045

• Home prices YoY: -34.5%
• Rents YoY: 4.7%
• Active inventory: 396
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$8
• Tax est. 1.5%: −$2 /mo · $22/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $1,068

Break-even live

Break-even rent $13

Max offer price $1,500

Occupancy floor 17%

Sensitivity live

Price	-10% $1,069	-5% $1,068	+0% $1,068	+5% $1,067	+10% $1,067
Rent	-10% $960	-5% $1,014	+0% $1,068	+5% $1,122	+10% $1,175
Rate	-1.0pp $1,068	-0.5pp $1,068	base $1,068	+0.5pp $1,067	+1.0pp $1,067

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: $375
• Closing costs: $45
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Yellow Oak Ave Laredo, TX	3.0	2.0	1465	$1,400	$0.96	45d	1	0.23mi
401 International Blvd Unit 11 Laredo, TX	1.0	1.5	1000	$1,200	$1.20	45d	1	0.53mi
1205 International Blvd #11 Laredo, TX	2.0	2.0	943	$1,150	$1.22	45d	1	0.60mi
501 Shiloh Dr Unit 203 Laredo, TX	2.0	2.0	980	$1,150	$1.17	45d	1	0.67mi
413 Shiloh Dr #102 Laredo, TX	2.0	2.0	855	$1,250	$1.46	45d	1	0.69mi
507 Shiloh Dr Unit 2 Laredo, TX	2.0	1.0	833	$1,000	$1.20	45d	1	0.70mi
8604 Superior Dr Laredo, TX	3.0	2.0	1216	$1,400	$1.15	45d	1	0.71mi
502 Shiloh Dr Unit 101E Laredo, TX	1.0	1.0	832	$1,850	$2.22	45d	1	0.73mi
8508 Superior Dr Laredo, TX	3.0	2.0	1216	$1,300	$1.07	45d	1	0.73mi
502 Shiloh Dr Unit 301E Laredo, TX	1.0	1.0	845	$1,175	$1.39	45d	1	0.75mi
506 Shiloh Dr #9 Laredo, TX	3.0	2.0	1240	$1,650	$1.33	45d	1	0.75mi
408 Shiloh Dr Unit 103 Laredo, TX	2.0	2.0	969	$1,200	$1.24	45d	1	0.76mi
510 Shiloh Dr Unit 402 Laredo, TX	3.0	2.5	1355	$1,850	$1.37	45d	1	0.78mi
104 Belaire Dr Unit 9 Laredo, TX	2.0	2.0	735	$1,000	$1.36	45d	1	0.83mi
8911 McPherson Rd Unit 9B Laredo, TX	2.0	2.5	1172	$1,300	$1.11	45d	1	0.88mi
7402 Springfield Ave Laredo, TX	1.0–2.0	1.0–2.0	887	$1,646	$1.86	45d	13	0.93mi
7605 Green Meadow Dr Laredo, TX	2.0	2.0	980	$1,225	$1.25	45d	2	1.05mi
7305 Wagner Ct Unit A Laredo, TX	2.0	1.0	818	$1,100	$1.34	45d	1	1.06mi
1010 Monaco Blvd Unit 24 Laredo, TX	1.0	1.0	725	$1,325	$1.83	45d	1	1.08mi
1010 Monaco Blvd Unit 14 Laredo, TX	2.0	2.5	1079	$1,650	$1.53	45d	1	1.08mi
1000 Ranchway Dr #67 Laredo, TX	3.0	3.0	1406	$1,600	$1.14	45d	1	1.09mi
7550 Country Club Dr Laredo, TX	1.0–3.0	1.0–2.0	826	$1,375	$1.66	45d	23	1.15mi
9802 Cantera Ct Unit 108A Laredo, TX	3.0	2.0	1164	$1,350	$1.16	45d	1	1.31mi
9805 Sterling Loop #201 Laredo, TX	3.0	2.0	1316	$1,600	$1.22	45d	1	1.31mi
9804 Cantera Ct #47 Laredo, TX	3.0	2.0	1232	$1,450	$1.18	45d	1	1.35mi
1752 Tiara Trl Unit 1003-J Laredo, TX	2.0	2.0	907	$1,400	$1.54	45d	1	1.36mi
1752 Tiara Trl Unit 702 Laredo, TX	2.0	2.0	913	$1,200	$1.31	45d	1	1.36mi
1752 Tiara Trl Unit 509 Laredo, TX	2.0	2.0	893	$1,275	$1.43	45d	1	1.36mi
9809 Sterling Loop #15 Laredo, TX	2.0	2.0	1012	$1,300	$1.28	45d	1	1.42mi
1601 Jacaman Rd Laredo, TX	2.0	2.0	1005	$1,349	$1.34	45d	1	1.44mi
1601 B Jacaman Rd Laredo, TX	1.0	1.0	750	$1,010	$1.35	45d	1	1.45mi
6718 Springfield Ave Laredo, TX	1.0–3.0	1.0–2.5	967	$1,370	$1.42	45d	13	1.48mi

Listing history 9 events

1. 2026-06-09
   days on market $1,500 Active 14 DOM
2. 2026-06-08
   days on market $1,500 Active 13 DOM
3. 2026-06-07
   days on market $1,500 Active 12 DOM
4. 2026-06-03
   days on market $1,500 Active 8 DOM
5. 2026-06-02
   days on market $1,500 Active 7 DOM
6. 2026-06-01
   days on market $1,500 Active 6 DOM
7. 2026-05-31
   days on market $1,500 Active 5 DOM
8. 2026-05-30
   days on market $1,500 Active 4 DOM
9. 2026-05-27
   listed $1,500 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: $16,375
• − Mortgage interest: −$84
• − Property taxes: −$22
• − Insurance: −$8
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$44
• Taxable income: $13,598
• Est. tax owed @ 24.0%: −$3,263
• After-tax cash flow: $9,549/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: United ISD
• NCES district ID: 4843650
• Math proficiency: 27% ▼ -36.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $47,780
• Composite: 28.02/100
• National rank: #6848
• State rank: #568 of 826 in TX

Livability — Laredo

• Score: 73/100
• State rank: #227
• US rank: #5399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laredo, TX
• County: Webb County · 67,333 people
• City population: 67,333
• Metro: Laredo, TX
• Population (ZIP): 67,333
• Household income: $90,608
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1042.0

Population outlook (Webb County) Hauer SSP2

• Today (2025): 301,387 people
• By 2030: 316,307 · +5.0%
• By 2040: 345,636 · +14.7%
• By 2050: 370,647 · +23.0%
• By 2075: 413,907 · +37.3%
• By 2100: 416,458 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (93%)
• Race & ethnicity: Hispanic / Latino 93% Two or more races 50% White 5%
• Hispanic origin (detail): Mexican 87%
• Foreign-born: 26% · Canada
• Languages at home: 16% English-only · Spanish 82%

Political lean MEDSL · Webb

• 2024 margin: Toss-up / Even · D 48.5% · R 50.7%
• 2008→2024 swing: -45.6pp toward R · 2008: 43.4pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+23.3 2016: D+51.6 2012: D+54.0 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.24%
• Current HPI: 167.3597
• Rent YoY: ▲ 4.70%
• Metro: Laredo, 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

1 event — show timeline

• 2026-05-27 Listed $1,500 LAOR