2988 Tierra Cortez Ave Unit A & B · El Paso, TX 79938

$469,900

None bd · None ba · 4,622 sqft · MultiFamily · 28 Days on market

Built 2004 Good condition 8,712 sqft lot

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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).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to a duplex that feels like home. Beautifully kept and fully occupied, these units offer generous 3-bedroom floor plans with thoughtful touches like master bedroom alcoves for your office or nursery. Enjoy the privacy of separate backyards and the convenience of attached garages. Located in a peaceful cul-de-sac, this property balances neighborhood charm with easy city access to I-10 and Ft. Bliss. Truly a unique find for any serious buyer. Please have a look through the property with the virtual tour. Them make an appointment to see this lovely duplex in person.

Key facts

• Easy city access
• Separate backyards
• Peaceful cul-de-sac

Tags

• MASTER BEDROOM ALCOVES
• SEPARATE BACKYARDS
• ATTACHED GARAGES
• PEACEFUL CUL-DE-SAC
• EASY CITY ACCESS

Property features AI

Exterior

• Parking: 1 parking space per unit
• Utilities: City utilities
• Home design: Duplex; Two total units; Total building area approximately 4,622
• Construction: Stucco construction; Shingle roof
• Exterior features: Shingle roof; Stucco exterior; Lot approximately 0.2 acres

Interior

• Kitchen: Free‑standing gas oven; Dishwasher
• Flooring: Carpet; Tile
• Heating & cooling: Central heating; Refrigerated cooling
• Interior features: Carpet and tile flooring; Central heating; Refrigerated cooling

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $470k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-30 ($-366/yr) — negative. Per door: $-15/mo.
• To cash-flow at today's rent, offer at most $465k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $407k (13.3% below list).
• Recommended offer: $407k (13.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Socorro ISD (urban): math 23% / reading 36% proficiency, ranked #624 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Paso Del Norte Fine Arts Academy (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 1,017 students, 76% FRL); Spec Rafael Hernando Middle (math 27% / reading 28%, grade F, #1,156 of 1,662 statewide, top 71%, 752 students, 72% FRL); El Dorado H S (math 27% / reading 38%, grade F, #1,029 of 1,632 statewide, top 64%, 2,245 students, 75% FRL).
• Market conditions: Rents rising (+2.1%/yr); 1183 active listings in the ZIP; solid renter incomes; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• At $4,072/mo this rent would consume 63% of the median local household income ($77k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($463k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $407,200 (13.3% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.38×
• Total profit: $-81,840
• Equity at exit: $70,064

10-year hold

• IRR: -11.8%
• Equity multiple: 0.32×
• Total profit: $-88,880
• Equity at exit: $40,628

Cash invested: $131,572 (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 79938

• Home prices YoY: -8.6%
• Rents YoY: 2.1%
• Active inventory: 1183
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $4,072 high
• Mortgage (P&I): −$2,464
• Tax est. 1.5%: −$587 /mo · $7,048/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$855
• Net cashflow: $-30

Break-even live

Break-even rent $4,111

Max offer price $465,488

Occupancy floor 96%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,072
Total (2 units)			$4,072

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: $117,475
• Closing costs: $14,097
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $469,900 Active 28 DOM
2. 2026-06-17
   days on market $469,900 Active 27 DOM
3. 2026-06-16
   days on market $469,900 Active 26 DOM
4. 2026-06-15
   days on market $469,900 Active 25 DOM
5. 2026-06-13
   days on market $469,900 Active 23 DOM
6. 2026-06-10
   days on market $469,900 Active 20 DOM
7. 2026-06-09
   days on market $469,900 Active 19 DOM
8. 2026-06-08
   days on market $469,900 Active 18 DOM
9. 2026-06-07
   days on market $469,900 Active 17 DOM
10. 2026-06-05
    days on market $469,900 Active 14 DOM
11. 2026-06-03
    days on market $469,900 Active 13 DOM
12. 2026-06-03
    days on market $469,900 Active 12 DOM
13. 2026-06-01
    days on market $469,900 Active 11 DOM
14. 2026-05-31
    days on market $469,900 Active 10 DOM
15. 2026-05-02
    listed $469,900 Active
16. 2022-08-08
    price $1,585

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 25 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,864
• − Mortgage interest: −$26,322
• − Property taxes: −$7,048
• − Insurance: −$2,350
• − Repairs & maintenance: −$3,909
• − Management: −$3,909
• − Depreciation: −$13,670
• Taxable loss: −$8,344
• Est. tax savings @ 24.0%: +$2,003
• After-tax cash flow: $1,637/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 well-maintained, fully occupied duplex is in good condition with minor updates needed to enhance its curb appeal and interior aesthetics. The property is located in a peaceful cul-de-sac with easy access to I-10 and Ft. Bliss.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic update needed.
• Minor Kitchen countertops — Clean and remove stains.
• Minor Paint touch-ups — Faded areas need fresh paint.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics.
• Both Replace kitchen countertops — New countertops add value and functionality.
• Both Replace blinds — Fresh blinds improve natural light and aesthetics.
• Both Deep clean bathrooms — Clean bathrooms are essential for both resale and rental value.
• Both Landscaping — Landscaping enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic update needed.	Minor	$500–3,000
Kitchen countertops · Clean and remove stains.	Minor	$500–3,000
Paint touch-ups · Faded areas need fresh paint.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics. ↑
• Both Replace kitchen countertops — New countertops add value and functionality. ↑
• Both Replace blinds — Fresh blinds improve natural light and aesthetics. ↑
• Both Deep clean bathrooms — Clean bathrooms are essential for both resale and rental value. ↑
• Both Landscaping — Landscaping enhances curb appeal and adds value to the property. ↑

ⓘ 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: Socorro ISD
• NCES district ID: 4840710
• Math proficiency: 23% ▼ -34.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $49,318
• Composite: 25.67/100
• National rank: #7396
• State rank: #624 of 826 in TX

Livability — El Paso

• Score: 81/100
• State rank: #23
• US rank: #1375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: El Paso, TX
• County: El Paso County · 761,266 people
• City population: 630,223
• Metro: El Paso, TX
• Population (ZIP): 99,621
• Household income: $77,272
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 900.0

Population outlook (El Paso County) Hauer SSP2

• Today (2025): 897,899 people
• By 2030: 922,694 · +2.8%
• By 2040: 960,492 · +7.0%
• By 2050: 982,919 · +9.5%
• By 2075: 997,266 · +11.1%
• By 2100: 900,630 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 42% White 10% Black 4%
• Hispanic origin (detail): Mexican 76% Puerto Rican 1%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 20% · Canada, Guatemala
• Languages at home: 36% English-only · Spanish 62%

Political lean MEDSL · El Paso

• 2024 margin: D (+15.1) · D 57.0% · R 41.8% · Other 1.2%
• 2008→2024 swing: -17.4pp toward R · 2008: 32.5pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+35.1 2016: D+43.2 2012: D+32.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.39%
• Current HPI: 207.2031
• Rent YoY: ▲ 2.06%
• Metro: El Paso, 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

+29546.7% since first listed

2 events — show timeline

• 2026-05-02 Listed $469,900 GEPARMLS
• 2022-08-08 Price Changed $1,585 RENT.