1230 Valle Vista St

North Alamo, TX 78589

$490,000C-

None bd · None ba · 3,988 sqft · Built 2025 · MultiFamily · Active · 290 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,893/mo
• Mortgage (P&I): −$2,570
• Tax + insurance: −$817
• HOA: −$50
• Vac / Maint / Mgmt: −$1,028
• Net cashflow: $429/mo
• Annual: $5,150/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• 1% rule: 1.00%
• Cash to close: $137,200

Investor read

• This is a 2×3bd/2ba + 2×2bd/2ba units multifamily listed at $490k. Condition is rated excellent.
• At list price, monthly cash flow is $429 ($5k/yr) — positive. Per door: $107/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $489k (0.1% below list).
• It's been on market 290 days — a 12% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $431k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#941 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Pharr-San Juan-Alamo ISD (suburban): math 18% / reading 30% proficiency, ranked #740 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Santos Livas El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 527 students, 90% FRL); Audie Murphy Middle (math 13% / reading 22%, grade F, #1,507 of 1,662 statewide, top 91%, 787 students, 95% FRL); Psja Memorial Early College H S (math 20% / reading 31%, grade F, #1,246 of 1,632 statewide, top 77%, 1,860 students, 94% FRL) — zoned schools average 93% FRL vs 72% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 363 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).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 290 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.