4309 N Minnesota St · Combes, TX 78550

$88,000

1 bd · 2.0 ba · 560 sqft · SingleFamily public records · 200 Days on market

Built 1984 $157/sqft · 56% above area Est $109k · 19% under

---

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 +14.3/30.0
• 1% rule +4.6/10.0
• DSCR +4.4/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice maintained, manufactured home in a 55+ gated community where you own your lot. 1 bedroom 2 bath Big Texas room Carport Central air and heater Ceiling fans Vertical/curtains Double pane windows Ceramic tile/carpet flooring Electric water heater Electric stove Dishwasher Washer Some furniture

Key facts

• Gated community
• Own your lot
• Double pane windows

Tags

• GATED COMMUNITY
• OWN YOUR LOT
• TEXAS ROOM
• CENTRAL AIR
• DOUBLE PANE WINDOWS
• CERAMIC TILE FLOORING

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $-50 ($-600/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (3.8% below list).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.4% in Combes — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#728 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Harlingen CISD (urban): math 25% / reading 35% proficiency, ranked #647 of 826 in TX (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,440 (12.0% 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. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.96% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 8.7

CMA / ARV

• ARV (median comp): $108,637
• List price: $88,000
• Delta: -19.00%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.31×
• Total profit: $-16,977
• Equity at exit: $13,121

10-year hold

• IRR: -11.1%
• Equity multiple: 0.31×
• Total profit: $-16,959
• Equity at exit: $7,609

Cash invested: $24,640 (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 78550

• Rents YoY: 3.5%
• Active inventory: 465
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$154 /mo · $1,853/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-50

Break-even live

Break-even rent $910

Max offer price $79,169

Occupancy floor —

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $88,000 Active 200 DOM
2. 2026-06-17
   days on market $88,000 Active 199 DOM
3. 2026-06-16
   days on market $88,000 Active 198 DOM
4. 2026-06-15
   days on market $88,000 Active 197 DOM
5. 2026-06-14
   days on market $88,000 Active 195 DOM
6. 2026-06-10
   days on market $88,000 Active 192 DOM
7. 2026-06-09
   days on market $88,000 Active 191 DOM
8. 2026-06-09
   days on market $88,000 Active 190 DOM
9. 2026-06-07
   days on market $88,000 Active 189 DOM
10. 2026-06-03
    days on market $88,000 Active 185 DOM
11. 2026-06-02
    days on market $88,000 Active 184 DOM
12. 2026-06-01
    days on market $88,000 Active 183 DOM
13. 2026-05-31
    days on market $88,000 Active 182 DOM
14. 2026-05-30
    days on market $88,000 Active 181 DOM
15. 2025-11-26
    listed $88,000 Active 303-char remark

    Show marketing remark (303 chars)

    Nice maintained, manufactured home in a 55+ gated community where you own your lot. 1 bedroom 2 bath Big Texas room Carport Central air and heater Ceiling fans Vertical/curtains Double pane windows Ceramic tile/carpet flooring Electric water heater Electric stove Dishwasher Washer Some furniture

16. 2025-10-29
    price $88,000
17. 2025-09-21
    price $89,000
18. 2025-09-20
    price $88,000
19. 2025-09-20
    price $88,000
20. 2025-04-11
    listed $87,000 Active
21. 2024-05-16
    soldstatus Closed
22. 2024-05-15
    soldstatus
23. 2024-05-05
    status Active
24. 2024-03-05
    listed $85,100 Active
25. 2020-08-17
    soldstatus
26. 2011-03-04
    soldstatus
27. 2007-07-17
    soldstatus
28. 2005-11-08
    soldstatus
29. 1997-08-07
    soldstatus
30. 1991-06-01
    soldstatus
31. 1990-05-01
    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: $1,853 · $154/mo
• Projected year-2 tax: $1,853 · $154/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 7/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $10,163
• − Mortgage interest: −$4,929
• − Property taxes: −$1,853
• − Insurance: −$1,238
• − Repairs & maintenance: −$813
• − Management: −$813
• − Depreciation: −$2,560
• Taxable loss: −$2,043
• Est. tax savings @ 24.0%: +$490
• After-tax cash flow: $-109/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: Harlingen CISD
• NCES district ID: 4822530
• Math proficiency: 25% ▼ -28.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $37,182
• Composite: 24.94/100
• National rank: #7566
• State rank: #647 of 826 in TX

Livability — Combes

• Score: 65/100
• State rank: #728
• US rank: #13560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Combes, TX
• County: Cameron County · 310,734 people
• City population: 435
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 53,335
• Household income: $49,007
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2251.0

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 29% White 14% Black 1%
• Hispanic origin (detail): Mexican 76%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 51% English-only · Spanish 48%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 167.7038
• Rent YoY: ▲ 3.45%
• Metro: Brownsville-Harlingen, 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

+3.4% since first listed

17 events — show timeline

• 2025-11-26 Listed $88,000 Fizber.com
• 2025-10-29 Price Changed $88,000 MCALLENMLS
• 2025-09-21 Price Changed $89,000 MCALLENMLS
• 2025-09-20 Price Changed $88,000 RGVMLS
• 2025-09-20 Price Changed $88,000 MCALLENMLS
• 2025-04-11 Listed $87,000 MCALLENMLS
• 2024-05-16 Sold (MLS) — RGVMLS
• 2024-05-15 Sold (Public Records) — Public Records
• 2024-05-05 Relisted — RGVMLS
• 2024-03-05 Listed $85,100 RGVMLS
• 2020-08-17 Sold (Public Records) — Public Records
• 2011-03-04 Sold (Public Records) — Public Records
• 2007-07-17 Sold (Public Records) — Public Records
• 2005-11-08 Sold (Public Records) — Public Records
• 1997-08-07 Sold (Public Records) — Public Records
• 1991-06-01 Sold (Public Records) — Public Records
• 1990-05-01 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,853 · +65.1% YoY. Source: county tax records.