2917 Boulanger St · Laredo, TX 78043

$118,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 235 Days on market

Built 1988 6,385 sqft lot $145/sqft · 26% below area Est $180k · 34% under ↓ 13% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity for a starter home or investment property! This residence offers a spacious primary bedroom with a walk-in closet, an additional bedroom plus a flex room, and one full bathroom. Enjoy added privacy with a fully fenced yard and a gated entrance for added security. A detached carport provides covered parking, and the expansive driveway allows for additional vehicles for your guests. The large lot also features a backyard storage shed, offering ample space for your needs.

Key facts

• Detached carport
• Gated entrance
• Fully fenced yard

Tags

• FULLY FENCED YARD
• GATED ENTRANCE
• DETACHED CARPORT
• BACKYARD STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $22 ($265/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (7.0% below list).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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+.
• Laredo ISD (urban): math 21% / reading 29% proficiency, ranked #739 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 126 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $816 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $103,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

• ARV (median comp): $180,000
• List price: $118,000
• Delta: -34.44%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-17,682
• Equity at exit: $17,594

10-year hold

• IRR: -6.3%
• Equity multiple: 0.59×
• Total profit: $-13,448
• Equity at exit: $10,202

Cash invested: $33,040 (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 78043

• Home prices YoY: -18.9%
• Active inventory: 126
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,098 high
• Mortgage (P&I): −$619
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $22

Break-even live

Break-even rent $1,070

Max offer price $118,000

Occupancy floor 93%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1219 Truman Ln Laredo, TX	2.0	1.0	628	$1,050	$1.67	43d	1	0.32mi
3212 Pecan St Laredo, TX	3.0	1.5	966	$1,100	$1.14	43d	1	0.37mi
1419 Reagan Dr Laredo, TX	3.0	2.0	884	$1,500	$1.70	43d	1	0.51mi
2202 Blaine St Laredo, TX	2.0	1.0	648	$1,000	$1.54	43d	1	0.53mi
113 Carter Dr Laredo, TX	2.0	1.0	808	$1,200	$1.49	43d	1	0.57mi
3413 Pine St Laredo, TX	2.0	2.0	860	$1,350	$1.57	43d	1	0.59mi
2119 S Ejido Ave Unit 6 Laredo, TX	2.0	1.0	840	$1,000	$1.19	43d	1	0.68mi
2119 S Ejido Ave Unit 18 Laredo, TX	2.0	1.0	840	$1,000	$1.19	43d	1	0.69mi
3411 Morelos Dr Laredo, TX	3.0	2.0	1066	$1,400	$1.31	43d	1	0.93mi
2603 Palo Blanco St Unit 9 Laredo, TX	2.0	1.0	900	$1,000	$1.11	43d	1	1.06mi
2603 Palo Blanco St Unit 2 Laredo, TX	2.0	1.0	900	$850	$0.94	43d	1	1.06mi
2603 Palo Blanco St Unit 3 Laredo, TX	2.0	1.0	900	$780	$0.87	43d	1	1.06mi
2901 Thurman St Unit 11 Laredo, TX	2.0	1.0	880	$950	$1.08	43d	1	1.10mi
2901 Thurman St Unit 10 Laredo, TX	2.0	1.0	880	$975	$1.11	43d	1	1.10mi
216 N Meadow Ave Unit 1 Laredo, TX	3.0	2.0	960	$1,300	$1.35	43d	1	1.18mi
3201 S Ejido Ave Laredo, TX	2.0	2.0	909	$836	$0.92	43d	1	1.21mi
2803 Bayard St #6 Laredo, TX	2.0	1.5	960	$1,200	$1.25	43d	1	1.23mi
311 Dorel Dr Unit 203 Laredo, TX	2.0	1.0	923	$1,200	$1.30	43d	1	1.23mi
315 Dorel Dr Unit 101 Laredo, TX	2.0	1.0	805	$1,150	$1.43	43d	1	1.26mi
3310 S Louisiana Ave Unit 3 Laredo, TX	3.0	1.0	927	$1,100	$1.19	43d	1	1.39mi
2005 Cross St Unit 2 Laredo, TX	2.0	1.5	988	$995	$1.01	43d	1	1.41mi
2620 Laredo St Unit 2 Laredo, TX	2.0	1.0	576	$800	$1.39	43d	1	1.44mi
3019 Corpus Christi St Apt E Laredo, TX	1.0	1.0	588	$750	$1.28	43d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $118,000 Active 235 DOM
2. 2026-06-17
   days on market $118,000 Active 234 DOM
3. 2026-06-16
   days on market $118,000 Active 233 DOM
4. 2026-06-15
   days on market $118,000 Active 232 DOM
5. 2026-06-13
   days on market $118,000 Active 230 DOM
6. 2026-06-12
   days on market $118,000 Active 229 DOM
7. 2026-06-10
   days on market $118,000 Active 226 DOM
8. 2026-06-08
   days on market $118,000 Active 225 DOM
9. 2026-06-08
   days on market $118,000 Active 224 DOM
10. 2026-06-07
    days on market $118,000 Active 223 DOM
11. 2026-06-03
    days on market $118,000 Active 220 DOM
12. 2026-06-02
    days on market $118,000 Active 219 DOM
13. 2026-06-01
    days on market $118,000 Active 218 DOM
14. 2026-05-31
    days on market $118,000 Active 217 DOM
15. 2026-04-14
    price $118,000 495-char remark

    Show marketing remark (495 chars)

    Excellent opportunity for a starter home or investment property! This residence offers a spacious primary bedroom with a walk-in closet, an additional bedroom plus a flex room, and one full bathroom. Enjoy added privacy with a fully fenced yard and a gated entrance for added security. A detached carport provides covered parking, and the expansive driveway allows for additional vehicles for your guests. The large lot also features a backyard storage shed, offering ample space for your needs.

16. 2025-10-26
    listed $135,000 Active 495-char remark

    Show marketing remark (495 chars)

    Excellent opportunity for a starter home or investment property! This residence offers a spacious primary bedroom with a walk-in closet, an additional bedroom plus a flex room, and one full bathroom. Enjoy added privacy with a fully fenced yard and a gated entrance for added security. A detached carport provides covered parking, and the expansive driveway allows for additional vehicles for your guests. The large lot also features a backyard storage shed, offering ample space for your needs.

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,159 · $180/mo
• Expected delta: +$34/yr (+$3/mo · 1.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $13,171
• − Mortgage interest: −$6,610
• − Property taxes: −$2,125
• − Insurance: −$590
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$3,433
• Taxable loss: −$1,694
• Est. tax savings @ 24.0%: +$406
• After-tax cash flow: $671/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: Laredo ISD
• NCES district ID: 4826790
• Math proficiency: 21% ▼ -34.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $25,655
• Composite: 19.7/100
• National rank: #8724
• State rank: #739 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
• City population: 67,333
• Population (ZIP): 44,044

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 58% White 2%
• Hispanic origin (detail): Mexican 92%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 12% English-only · Spanish 88%

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: ▼ -38.11%
• Current HPI: 163.8209
• 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

-12.6% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $118,000 LAOR
• 2025-10-26 Listed $135,000 LAOR

Property tax history

+4.6%/yr

Latest (2025): $2,125 · +6.6% YoY. Source: county tax records.