2303 Green Gate Cir E · Palmview, TX 78572

$100,000

2 bd · 2.0 ba · 928 sqft · Manufactured public records · 48 Days on market

Built 1992 9,370 sqft lot $108/sqft · 39% below area Est $164k · 39% under $140/mo HOA · 14% of rent ↓ 22% 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 +8.2/30.0
• 1% rule +5.4/10.0
• Livability +2.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Priced to Sell Quickly! Relax in the shade of the covered patio or enjoy the full sun on the large deck outside this furnished Modular home in the desirable 55+ Community of Greengate Grove situated in a peaceful setting on a spacious Double Lot with sprinkler system. Home features 2 bedrooms, 2 baths, plenty of kitchen cabinets, breakfast bar, and in-home laundry area. Updates include hardwood/laminate flooring, updated master bathroom with large walk-in tiled shower, newer AC and roofing (approximately 3 years old). Parking for two vehicles under the carport/awning, workshop/shed, and office/craft room. Furnished home includes refrigerators, stove, microwave, dishwasher, washer and dryer,

Key facts

• Large deck
• Spacious double lot
• Covered patio

Tags

• COVERED PATIO
• LARGE DECK
• SPACIOUS DOUBLE LOT
• SPRINKLER SYSTEM
• HARDWOOD LAMINATE FLOORING
• UPDATED MASTER BATHROOM

Property features AI

Finance

• Other: Property in a gated neighborhood with clubhouse and pool
• Financial info: Escrow amount listed as 1500
• HOA & community: Green Gate Grove association with monthly fee of $140; Association mandatory; Community features include pool and curbs; Senior community

Exterior

• Parking: 1 total parking space; 1 covered space; 1 carport space; No garage
• Security: Gated community
• Utilities: Septic tank (sewer: septic/other); Electric power available
• Home design: Own lot; Paved road access
• Construction: Vinyl siding; Composition shingle roof; Pillar/post/pier foundation; Built with materials typical of single-family homes
• Exterior features: Covered patio; Deck; Patio slab; Sprinkler system; Workshop; Storage building; Curb & gutters; Mature trees

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range; Gas water heater
• Bedrooms: Split bedrooms (bedrooms separated by living areas)
• Flooring: Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Window AC unit(s)
• Interior features: Laminate countertops; Ceiling fans; Split-bedroom floor plan; Bay windows; Window coverings (partial and other); Dryer; Microwave
• Laundry & utility: Laundry area; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (16.8% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $83k (16.8% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 4.2% in Palmview — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 57/100 on livability (#1,267 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D, amenities F, commute F.
• La Joya ISD (suburban): math 18% / reading 29% proficiency, ranked #759 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jose De Escandon El (math 27% / reading 37%, grade F, #2,268 of 4,322 statewide, top 55%, 640 students, 86% FRL); Irene M Garcia Middle (math 17% / reading 23%, grade F, #1,428 of 1,662 statewide, top 87%, 641 students, 89% FRL); La Joya Palmview H S (math 20% / reading 37%, grade F, #1,157 of 1,632 statewide, top 72%, 2,155 students, 91% FRL) — zoned schools average 89% FRL vs 54% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 852 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 48 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 95% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,159 (16.8% 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. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 5.15%
• Cash-on-cash: -4.09%
• DSCR: 0.82
• GRM: 8.0

CMA / ARV

• ARV (median comp): $163,500
• List price: $100,000
• Delta: -38.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Lampshire Ln	0.40mi	2/2.0	938 (+1%)	2mo	$49,900	$53	78
2423 Bobolink Cir E #299	0.14mi	2/1.5	800 (-14%)	17mo	$99,750	$125	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -26.2%
• Equity multiple: 0.13×
• Total profit: $-24,237
• Equity at exit: $14,910

10-year hold

• IRR: -35.4%
• Equity multiple: -0.31×
• Total profit: $-36,623
• Equity at exit: $8,646

Cash invested: $28,000 (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 78572

• Home prices YoY: -22.9%
• Rents YoY: 0.9%
• Active inventory: 852
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,035 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$207 /mo · $2,487/yr
• Insurance: −$42
• HOA: −$140
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $-95

Break-even live

Break-even rent $1,156

Max offer price $83,159

Occupancy floor —

Sensitivity live

Price	-10% $-39	-5% $-67	+0% $-95	+5% $-124	+10% $-152
Rent	-10% $-177	-5% $-136	+0% $-95	+5% $-54	+10% $-14
Rate	-1.0pp $-45	-0.5pp $-70	base $-95	+0.5pp $-121	+1.0pp $-148

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4321 Royal Palm Dr Mission, TX	2.0	1.0	572	$800	$1.40	24d	1	0.62mi
2508 U.S. 83 Business Unit 16 Mission, TX	2.0	1.0	650	$730	$1.12	24d	1	1.09mi

HOA detail

• Monthly dues: $140 · $1,680/yr

Listing history 27 events

1. 2026-06-18
   days on market $100,000 Active 48 DOM
2. 2026-06-17
   days on market $100,000 Active 47 DOM
3. 2026-06-16
   days on market $100,000 Active 46 DOM
4. 2026-06-15
   days on market $100,000 Active 45 DOM
5. 2026-06-14
   days on market $100,000 Active 43 DOM
6. 2026-06-13
   days on market $100,000 Active 42 DOM
7. 2026-06-10
   days on market $100,000 Active 40 DOM
8. 2026-06-09
   days on market $100,000 Active 39 DOM
9. 2026-06-08
   days on market $100,000 Active 38 DOM
10. 2026-06-07
    days on market $100,000 Active 37 DOM
11. 2026-06-05
    days on market $100,000 Active 34 DOM
12. 2026-06-03
    days on market $100,000 Active 33 DOM
13. 2026-06-02
    days on market $100,000 Active 32 DOM
14. 2026-06-01
    days on market $100,000 Active 31 DOM
15. 2026-05-31
    days on market $100,000 Active 30 DOM
16. 2026-05-31
    days on market $100,000 Active 29 DOM
17. 2026-04-29
    listed $100,000 Active 1004-char remark
18. 2026-04-11
    price $100,000
19. 2026-03-04
    price $110,000
20. 2025-11-25
    price $120,000
21. 2025-10-22
    status Active
22. 2025-10-22
    price $125,000
23. 2025-09-14
    status Pending
24. 2025-09-05
    historical Option
25. 2025-07-18
    listed $129,000 Active
26. 2008-06-05
    soldstatus
27. 1997-06-24
    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: $2,487 · $207/mo
• Projected year-2 tax: $2,487 · $207/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 95% 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: $12,425
• − Mortgage interest: −$5,602
• − Property taxes: −$2,487
• − Insurance: −$500
• − Repairs & maintenance: −$994
• − Management: −$994
• − HOA: −$1,680
• − Depreciation: −$2,909
• Taxable loss: −$2,740
• Est. tax savings @ 24.0%: +$658
• After-tax cash flow: $-486/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: La Joya ISD
• NCES district ID: 4826130
• Math proficiency: 18% ▼ -35.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $27,845
• Composite: 18.65/100
• National rank: #8891
• State rank: #759 of 826 in TX

Livability — Palmview

• Score: 57/100
• State rank: #1267
• US rank: #22043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmview, TX
• County: Hidalgo County · 623,128 people
• City population: 78,024
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 78,024
• Household income: $54,298
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 1714.0

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 (85%)
• Race & ethnicity: Hispanic / Latino 85% Two or more races 47% White 12% Asian 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Slovak 1% Portuguese 0%
• Foreign-born: 28% · Canada, South Korea
• Languages at home: 22% English-only · Spanish 76%

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: ▼ -62.35%
• Current HPI: 209.3573
• Rent YoY: ▲ 0.93%
• Metro: McAllen-Edinburg-Mission, 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

-22.5% since first listed

11 events — show timeline

• 2026-04-29 Listed $100,000 MCALLENMLS
• 2026-04-11 Price Changed $100,000 MCALLENMLS
• 2026-03-04 Price Changed $110,000 MCALLENMLS
• 2025-11-25 Price Changed $120,000 MCALLENMLS
• 2025-10-22 Relisted — MCALLENMLS
• 2025-10-22 Price Changed $125,000 MCALLENMLS
• 2025-09-14 Pending — MCALLENMLS
• 2025-09-05 Contingent — MCALLENMLS
• 2025-07-18 Listed $129,000 MCALLENMLS
• 2008-06-05 Sold (Public Records) — Public Records
• 1997-06-24 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,487 · -0.2% YoY. Source: county tax records.