3512 Valeria Ln #3

Olivarez, TX 78596

$135,000D

2 bd · 2.0 ba · 920 sqft · Built 2026 · Condo · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,125/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$21
• Vac / Maint / Mgmt: −$236
• Net cashflow: $-65/mo
• Annual: $-785/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• 1% rule: 0.83%
• Cash to close: $37,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.
• At list price, monthly cash flow is $-65 ($-785/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (16.7% below list).
• It's been on market 33 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (16.7% below list) — sets the bar for 1% rule.
• In year one you build about $144 of equity ($933 loan paydown + $-789 appreciation (-0.6% local appreciation)).
• Location reads 51/100 on livability (#1,480 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime F, amenities 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: Airport El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 792 students, 86% 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: 710 active listings in the ZIP; 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.

Questions for listing agent

• 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?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• Crime grade is F 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?
• 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?