3098 Briggs Rd #2 · Midway South, TX 78596

$140,000

3 bd · 2.0 ba · 1,193 sqft · Condo · 18 Days on market

Built 2026 Excellent condition $42/mo HOA · 3% of rent

---

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 +11.0/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Appreciation +4.7/10.0
• 1% rule +3.6/10.0
• DSCR +3.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Listing remarks

This spacious 3-bedroom, 2-bathroom condominium is move-in ready! Each unit includes a convenient 2-space carport, providing ample parking for residents. The thoughtfully designed layout offers comfortable living area, making it perfect for both relaxing and entertaining. Enjoy a functional floor plan that maximizes space and comfort throughout the home. CALL 956.289.3288 FOR MORE INFO OR EMAIL: EXCELLENCE@BIGREALTY. COM

Key facts

• $42 HOA
• 2 parking spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $140k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-58 ($-702/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (14.0% below list).
• Recommended offer: $120k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#1,201 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sam Houston El (math 22% / reading 37%, grade F, #2,525 of 4,322 statewide, top 62%, 745 students, 87% FRL); Central Middle (math 33% / reading 40%, grade F, #786 of 1,662 statewide, top 48%, 974 students, 70% FRL); Weslaco H S (math 25% / reading 33%, grade F, #1,147 of 1,632 statewide, top 71%, 2,553 students, 73% FRL) — zoned schools average 77% FRL vs 59% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 711 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• In year one you build about $150 of equity ($968 loan paydown + $-818 appreciation (-0.6% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Recommended offer $120,385 (14.0% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.70×
• Total profit: $-11,574
• Equity at exit: $36,610

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-508
• Equity at exit: $40,898

Cash invested: $39,200 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 711
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,204 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$42
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $-58

Break-even live

Break-even rent $1,278

Max offer price $131,541

Occupancy floor 100%

Sensitivity live

Price	-10% $38	-5% $-10	+0% $-58	+5% $-107	+10% $-155
Rent	-10% $-154	-5% $-106	+0% $-58	+5% $-11	+10% $37
Rate	-1.0pp $12	-0.5pp $-23	base $-58	+0.5pp $-95	+1.0pp $-132

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3086 Briggs Rd Unit B Midway South, TX	2.0	3.0	1050	$1,300	$1.24	25d	1	0.03mi
3707 U.S. 83 Business Unit 333 Donna, TX	3.0	2.0	960	$899	$0.94	45d	1	0.32mi
3707 U.S. 83 Business Unit 442 Donna, TX	3.0	2.0	960	$799	$0.83	45d	1	0.32mi
3707 U.S. 83 Business Unit 431 Donna, TX	3.0	2.0	960	$799	$0.83	25d	1	0.32mi
408 Sparrow Rd #4 Weslaco, TX	3.0	2.0	1185	$1,400	$1.18	16d	1	0.37mi
412 Sparrow Rd Unit 1 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	25d	1	0.38mi
503 Sparrow Rd Unit 1 Weslaco, TX	2.0	2.0	1000	$1,300	$1.30	23d	1	0.40mi
2613 Mockingbird Rd Unit D Weslaco, TX	2.0	2.0	973	$1,200	$1.23	45d	1	0.46mi
2608 Mockingbird Rd Unit 4 Weslaco, TX	3.0	2.0	1183	$1,380	$1.17	23d	1	0.49mi
2705 Woodpecker Rd Unit 2 Weslaco, TX	2.0	2.0	1020	$1,200	$1.18	25d	1	0.57mi
700 Oriole Rd #2 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	45d	1	0.57mi
2605 Woodpecker Rd Unit 4 Weslaco, TX	3.0	2.0	1183	$1,300	$1.10	25d	1	0.59mi
2609 Woodpecker Rd Unit 1 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	25d	1	0.59mi
2604 Woodpecker Rd Unit 2 Weslaco, TX	2.0	2.0	1068	$1,200	$1.12	16d	1	0.60mi
2211 Tomatillo Dr Weslaco, TX	3.0	2.0	1361	$2,200	$1.62	25d	1	0.98mi
1319 San Vicente Unit 1 Weslaco, TX	3.0	2.0	1100	$1,350	$1.23	25d	1	0.99mi
1322 Beverly Ave Unit 3 Weslaco, TX	3.0	2.0	1050	$1,350	$1.29	25d	1	1.00mi
1430 Mile 6 1/2 W Unit 6 1/2 Weslaco, TX	2.0	2.0	850	$877	$1.03	45d	1	1.00mi
1409 Beverly Ave Unit 1 Weslaco, TX	2.0	2.0	986	$1,050	$1.06	45d	1	1.03mi
1409 San Vicente Weslaco, TX	3.0	2.0	1150	$1,250	$1.09	46d	1	1.05mi
2013 Canyon Dr Unit 4 Weslaco, TX	3.0	2.0	1111	$1,200	$1.08	25d	1	1.25mi
1721 Harrison St Weslaco, TX	2.0	2.0	1005	$1,025	$1.02	45d	1	1.34mi
2607 E North Ave Donna, TX	1.0–2.0	1.0–2.0	1009	$1,125	$1.11	16d	7	1.41mi
2103 Taft St Unit 4 Weslaco, TX	3.0	2.0	1111	$1,095	$0.99	45d	1	1.44mi
2816 Brown St Unit B Weslaco, TX	2.0	2.0	1000	$950	$0.95	45d	1	1.45mi

HOA detail condo

• Monthly dues: $42 · $504/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-17
   status Pending
2. 2026-04-09
   historical Option
3. 2026-03-30
   listed $140,000 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: $14,446
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − HOA: −$504
• − Depreciation: −$4,073
• Taxable loss: −$3,084
• Est. tax savings @ 24.0%: +$740
• After-tax cash flow: $39/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 · 13 photos

Excellent 100/100 None rehab

This move-in ready condominium is in excellent condition with no visible repairs or maintenance needed. The home is well-maintained and has a good curb appeal, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the home's value.
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase the home's value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the home's value. ↑
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase the home's 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: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Midway South

• Score: 58/100
• State rank: #1201
• US rank: #21023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midway South, TX
• Population (ZIP): 38,942

Population outlook (Hidalgo County) Hauer SSP2

• Today (2025): 955,232 people
• By 2030: 1,009,774 · +5.7%
• By 2040: 1,120,332 · +17.3%
• By 2050: 1,225,036 · +28.2%
• By 2075: 1,439,189 · +50.7%
• By 2100: 1,533,429 · +60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

Political lean MEDSL · Hidalgo

• 2024 margin: Toss-up / Even · D 48.1% · R 51.0%
• 2008→2024 swing: -41.6pp toward R · 2008: 38.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+17.1 2016: D+40.5 2012: D+41.8 2008: D+38.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.58%
• Current HPI: 261.5117
• 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

3 events — show timeline

• 2026-04-17 Pending — MCALLENMLS
• 2026-04-09 Contingent — MCALLENMLS
• 2026-03-30 Listed $140,000 MCALLENMLS