606 E Emerald Dr · Harlingen, TX 78550

$65,000

1 bd · 1.0 ba · 840 sqft · Land · 1 Days on market

Built 1973 6,600 sqft lot

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Why this score? — see what drove the B- 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great corner lot, needs TLC, great investment property or first time home.

Key facts

• 6,600 sq ft lot
• Garage
• Built 1973

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath land listed at $65k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($873 rent vs $65k).
• Cap rate 10.7% vs local median 3.8% in Harlingen — 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 (#217 in TX) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, commute F, employment F.
• Harlingen CISD (urban): math 25% / reading 35% proficiency, ranked #647 of 826 in TX (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Long El (math 29% / reading 31%, grade F, #2,500 of 4,322 statewide, top 58%, 548 students, 84% FRL); Memorial Middle (math 23% / reading 33%, grade F, #1,143 of 1,662 statewide, top 69%, 751 students, 89% FRL); Harlingen H S (math 32% / reading 22%, grade F, #1,204 of 1,632 statewide, top 75%, 1,942 students, 82% FRL).
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $5,118
• Equity at exit: $9,692

10-year hold

• IRR: 16.9%
• Equity multiple: 2.42×
• Total profit: $25,779
• Equity at exit: $5,620

Cash invested: $18,200 (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 78550

• Rents YoY: 3.5%
• Active inventory: 465
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $873 high
• Mortgage (P&I): −$341
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $239

Break-even live

Break-even rent $570

Max offer price $65,000

Occupancy floor 68%

Sensitivity live

Price	-10% $276	-5% $258	+0% $239	+5% $221	+10% $202
Rent	-10% $170	-5% $205	+0% $239	+5% $274	+10% $308
Rate	-1.0pp $272	-0.5pp $256	base $239	+0.5pp $222	+1.0pp $205

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 N 1st St Unit 917 Harlingen, TX	2.0	1.0	700	$770	$1.10	45d	1	0.63mi
2101 N G St Unit B Harlingen, TX	2.0	2.0	1004	$950	$0.95	22d	1	0.90mi
409 E Madison Ave Unit 4 Harlingen, TX	2.0	1.0	770	$750	$0.97	45d	1	0.96mi
1723 Warren St Harlingen, TX	2.0	1.0	950	$865	$0.91	45d	1	1.02mi
709 E Jackson St Harlingen, TX	2.0	1.0	1100	$1,050	$0.95	15d	1	1.10mi
1802 E Washington Ave Harlingen, TX	1.0–3.0	1.0–2.0	848	$725	$0.85	22d	1	1.12mi
1802 E Washington Ave Unit 66 Harlingen, TX	1.0	1.0	640	$725	$1.13	15d	1	1.14mi
1802 E Washington Ave Unit 56 Harlingen, TX	2.0	2.0	1024	$995	$0.97	15d	1	1.14mi
1802 E Washington Ave Unit 54 Harlingen, TX	2.0	2.0	1024	$900	$0.88	15d	1	1.14mi
1802 E Washington Ave Unit 45 Harlingen, TX	2.0	1.5	858	$875	$1.02	15d	1	1.14mi
1802 E Washington Ave Unit 96 Harlingen, TX	2.0	1.0	768	$825	$1.07	15d	1	1.14mi
1802 E Washington Ave Unit 14 Harlingen, TX	2.0	1.0	768	$875	$1.14	15d	1	1.14mi
20558 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	45d	1	1.18mi
20550 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	45d	1	1.20mi
106 S A St Harlingen, TX	1.0–2.0	1.0–2.0	877	$767	$0.87	15d	3	1.22mi
204 S 7th St Harlingen, TX	2.0	1.0	713	$725	$1.02	22d	1	1.22mi
801 N 26th St Apt 1 Harlingen, TX	2.0	1.0	730	$915	$1.25	15d	1	1.44mi
2606 Los Amigos Dr Unit 13 Harlingen, TX	2.0	1.0	730	$825	$1.13	45d	1	1.46mi
2702 Los Amigos Dr Unit 28 Harlingen, TX	1.0	1.0	630	$799	$1.27	15d	1	1.48mi

Listing history 4 events

1. 2024-11-15
   soldstatus
2. 2024-11-05
   status Pending
3. 2024-10-31
   listed $65,000 Active
4. 1995-04-24
   soldstatus

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: +$204/yr (+$17/mo · 20.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $10,472
• − Mortgage interest: −$3,641
• − Property taxes: −$986
• − Insurance: −$325
• − Repairs & maintenance: −$838
• − Management: −$838
• − Depreciation: −$1,891
• Taxable income: $1,953
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $2,403/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: Harlingen CISD
• NCES district ID: 4822530
• Math proficiency: 25% ▼ -28.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $37,182
• Composite: 24.94/100
• National rank: #7566
• State rank: #647 of 826 in TX

Livability — Harlingen

• Score: 73/100
• State rank: #217
• US rank: #5347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harlingen, TX
• County: Cameron County · 310,734 people
• City population: 95,667
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 53,335
• Household income: $49,007
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2251.0

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 29% White 14% Black 1%
• Hispanic origin (detail): Mexican 76%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 51% English-only · Spanish 48%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 167.7038
• Rent YoY: ▲ 3.45%
• Metro: Brownsville-Harlingen, 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

4 events — show timeline

• 2024-11-15 Sold (Public Records) — Public Records
• 2024-11-05 Pending — RGVMLS
• 2024-10-31 Listed $65,000 RGVMLS
• 1995-04-24 Sold (Public Records) — Public Records

Property tax history

+16.5%/yr

Latest (2025): $986 · +24.2% YoY. Source: county tax records.