517 P St · Harlingen, TX 78552

$195,000

5 bd · 3.0 ba · 2,157 sqft · SingleFamily · 109 Days on market

Built 2018 Good condition 7,000 sqft lot $90/sqft · 32% below area Est $285k · 32% under ↓ 20% since listing

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Why this score? — see what drove the C- 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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home has been remodeled and also new roof. Home offers 5 spacious bedrooms and 3 full bath. Kitchen was updated and entire home has been painted within the last 3 weeks.

Key facts

• Remodeled
• Entire home painted
• Updated kitchen

Tags

• REMODELED
• NEW ROOF
• UPDATED KITCHEN
• ENTIRE HOME PAINTED

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $158 ($2k/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 $191k (2.2% below list).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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-, schools D+, commute 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.
• Market conditions: Rents soft (-1.9%/yr); 534 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Recommended offer $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (median comp): $285,195
• List price: $195,000
• Delta: -31.63%
• Verdict: UNDERPRICED
• Comps: 19 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.50×
• Total profit: $-27,070
• Equity at exit: $29,075

10-year hold

• IRR: -11.3%
• Equity multiple: 0.41×
• Total profit: $-32,058
• Equity at exit: $16,860

Cash invested: $54,600 (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 78552

• Home prices YoY: -13.8%
• Rents YoY: -1.9%
• Active inventory: 534
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,906 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $158

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 87%

Sensitivity live

Price	-10% $293	-5% $226	+0% $158	+5% $91	+10% $24
Rent	-10% $8	-5% $83	+0% $158	+5% $234	+10% $309
Rate	-1.0pp $257	-0.5pp $208	base $158	+0.5pp $108	+1.0pp $56

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 W Madison Ave Unit A Harlingen, TX	4.0	2.5	1761	$1,600	$0.91	21d	1	0.71mi
2117 S Arden St Harlingen, TX	4.0	3.0	2809	$1,800	$0.64	44d	1	1.23mi

Listing history 6 events

1. 2026-06-01
   statusdays on market $195,000 Pending 109 DOM
2. 2026-05-30
   days on market $195,000 Active 108 DOM
3. 2026-05-14
   price $195,000 169-char remark

   Show marketing remark (169 chars)

   Home has been remodeled and also new roof. Home offers 5 spacious bedrooms and 3 full bath. Kitchen was updated and entire home has been painted within the last 3 weeks.

4. 2026-04-09
   price $215,000 169-char remark

   Show marketing remark (169 chars)

   Home has been remodeled and also new roof. Home offers 5 spacious bedrooms and 3 full bath. Kitchen was updated and entire home has been painted within the last 3 weeks.

5. 2026-03-02
   price $225,000 169-char remark

   Show marketing remark (169 chars)

   Home has been remodeled and also new roof. Home offers 5 spacious bedrooms and 3 full bath. Kitchen was updated and entire home has been painted within the last 3 weeks.

6. 2026-02-11
   listed $245,000 Active 169-char remark

   Show marketing remark (169 chars)

   Home has been remodeled and also new roof. Home offers 5 spacious bedrooms and 3 full bath. Kitchen was updated and entire home has been painted within the last 3 weeks.

ⓘ 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: $22,875
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,830
• − Management: −$1,830
• − Depreciation: −$5,673
• Taxable loss: −$1,280
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $2,208/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This home has been recently remodeled and painted, offering a good condition with updated kitchen and bathrooms. It's move-in ready with minor maintenance needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 42,332
• Household income: $69,811
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 487.0

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 (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 31% White 16% Asian 2%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 15% · Canada
• Languages at home: 49% English-only · Spanish 49% Vietnamese 1%

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: ▼ -31.61%
• Current HPI: 197.1906
• Rent YoY: ▼ -1.87%
• 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

-20.4% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $195,000 RGVMLS
• 2026-04-09 Price Changed $215,000 RGVMLS
• 2026-03-02 Price Changed $225,000 RGVMLS
• 2026-02-11 Listed $245,000 RGVMLS