702 E Carrol St · Harlingen, TX 78550

$129,000

3 bd · 2.0 ba · 1,464 sqft · SingleFamily public records · 91 Days on market

Built 1955 10,500 sqft lot $88/sqft · 32% below area Est $190k · 32% under

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Why this score? — see what drove the C- 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 +16.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.2/10.0
• DSCR +5.1/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this charming brick home ideally located in the heart of Harlingen! Situated on a spacious corner lot measuring approximately 0.24 acres, this property offers both comfort and convenience in a highly desirable area. The home features 3 bedrooms, 1 full bath, and 2 half bathrooms, providing a functional layout perfect for families, first-time buyers, or investors. Updates include a like-new roof and HVAC system, offering peace of mind and energy efficiency for years to come. The property is also equipped with solar panels, giving the new owner the benefit of reduced energy costs. All appliances will convey with the home, making this a truly move-in ready opportunity. Outside, you’ll find a beautiful, generously sized shed that provides excellent additional storage or workspace.

Key facts

• Like-new roof
• Move-in ready
• Brick home

Tags

• BRICK HOME
• CORNER LOT
• LIKE-NEW ROOF
• HVAC SYSTEM
• SOLAR PANELS
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $74 ($890/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $117k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.8% in Harlingen — 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 73/100 on livability (#217 in TX) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, schools D+, 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• This rent runs 32% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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 91 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $51k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 6.98%
• Cash-on-cash: 2.46%
• DSCR: 1.11
• GRM: 8.2

CMA / ARV

• ARV (median comp): $189,764
• List price: $129,000
• Delta: -32.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1905 N 8th St	0.34mi	3/2.0	1,434 (-2%)	10mo	$210,000	$146	72
1501 High St	0.51mi	2/2.0 (-1)	1,388 (-5%)	5mo	$74,900	$54	58
413 Orange Heights Dr	0.72mi	4/2.0 (+1)	1,382 (-6%)	4mo	$155,000	$112	49
905 E Leggett Rd	0.72mi	3/2.0	1,636 (+12%)	12mo	$255,000	$156	37
1517 Walnut Ct	0.71mi	2/2.0 (-1)	1,625 (+11%)	19mo	$195,000	$120	28

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 · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-15,511
• Equity at exit: $19,234

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-4,667
• Equity at exit: $11,154

Cash invested: $36,120 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$676
• Tax from tax record: −$237 /mo · $2,850/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $74

Break-even live

Break-even rent $1,225

Max offer price $129,000

Occupancy floor 89%

Sensitivity live

Price	-10% $147	-5% $111	+0% $74	+5% $38	+10% $1
Rent	-10% $-30	-5% $22	+0% $74	+5% $126	+10% $178
Rate	-1.0pp $139	-0.5pp $107	base $74	+0.5pp $41	+1.0pp $7

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 E Jim Hogg Ave Harlingen, TX	3.0	1.0	1039	$1,200	$1.15	15d	1	0.35mi
714 Winddrift St Harlingen, TX	3.0	2.0	1668	$1,850	$1.11	22d	1	0.66mi
918 E Leggett Rd Harlingen, TX	3.0	2.0	1756	$1,700	$0.97	22d	1	0.71mi
1057 E Matz Ave Harlingen, TX	3.0	2.0	1692	$1,850	$1.09	45d	1	0.73mi
1917 New Combes Hwy Unit H Harlingen, TX	3.0	2.0	1098	$975	$0.89	22d	1	0.76mi
709 E Jackson St Harlingen, TX	2.0	1.0	1100	$1,050	$0.95	15d	1	0.89mi
226 W Darrell Wayne Shipp St Harlingen, TX	3.0	2.0	1400	$1,700	$1.21	45d	1	0.90mi
1802 E Washington Ave Harlingen, TX	1.0–3.0	1.0–2.0	848	$1,050	$1.24	22d	1	0.93mi
1802 E Washington Ave Unit 56 Harlingen, TX	2.0	2.0	1024	$995	$0.97	15d	1	0.95mi
1802 E Washington Ave Unit 94 Harlingen, TX	3.0	2.0	1056	$825	$0.78	15d	1	0.95mi
1802 E Washington Ave Unit 44 Harlingen, TX	3.0	2.0	1056	$1,050	$0.99	15d	1	0.95mi
1802 E Washington Ave Unit 54 Harlingen, TX	2.0	2.0	1024	$900	$0.88	15d	1	0.95mi
1630 Summerfield Ln N Harlingen, TX	3.0	2.0	1680	$1,900	$1.13	22d	1	0.97mi
1723 Warren St Harlingen, TX	2.0	1.0	950	$865	$0.91	45d	1	0.99mi
2101 N G St Unit B Harlingen, TX	2.0	2.0	1004	$950	$0.95	22d	1	1.04mi
106 S A St Harlingen, TX	1.0–2.0	1.0–2.0	877	$850	$0.97	14d	3	1.06mi
1505 N 25th St Unit 305 Harlingen, TX	2.0	2.0	1167	$825	$0.71	22d	1	1.07mi
121 W Ebano Ct Harlingen, TX	2.0	2.0	1174	$1,200	$1.02	45d	1	1.07mi
2234 S Christians Cir Harlingen, TX	3.0	2.0	1493	$2,400	$1.61	45d	1	1.10mi
821 W Matz Ave Unit B Harlingen, TX	3.0	2.0	1190	$1,300	$1.09	15d	1	1.14mi
1701 Gabriels Lndg Harlingen, TX	3.0	2.0	1699	$2,350	$1.38	22d	1	1.24mi
2014 E Monroe Ave Harlingen, TX	3.0	1.0	1148	$1,350	$1.18	22d	1	1.24mi
1626 Christians Cir Harlingen, TX	3.0	2.0	1827	$2,200	$1.20	15d	1	1.25mi
1010 W Madison Ave Unit A Harlingen, TX	4.0	2.5	1761	$1,600	$0.91	22d	1	1.28mi
2002 E Van Buren Ave Harlingen, TX	2.0	1.0	1062	$1,150	$1.08	22d	1	1.33mi
2209 E Jackson St Harlingen, TX	4.0	2.0	1356	$1,250	$0.92	45d	1	1.37mi
2710 Los Amigos Dr Harlingen, TX	1.0–3.0	1.0–2.0	801	$1,099	$1.37	15d	5	1.38mi
817 Sonesta Dr Unit 3 Harlingen, TX	2.0	2.5	1000	$900	$0.90	45d	1	1.39mi
817 Sonesta Dr Unit 1 Harlingen, TX	2.0	2.5	1020	$900	$0.88	45d	1	1.39mi
20558 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	45d	1	1.39mi
22938 Monte Alto Ct Unit 22938-2 Harlingen, TX	2.0	2.0	1160	$1,100	$0.95	15d	1	1.39mi
619 E Pierce Ave Harlingen, TX	2.0	1.0	1000	$800	$0.80	45d	1	1.40mi
22937 Monte Alto Ct Unit 2 Harlingen, TX	2.0	2.0	1160	$1,195	$1.03	15d	1	1.40mi
504 Rock Cir Unit 1 Harlingen, TX	2.0	1.5	1050	$925	$0.88	22d	1	1.41mi
20550 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	45d	1	1.41mi
737 Sonesta Dr Unit B Harlingen, TX	2.0	1.5	1064	$950	$0.89	22d	1	1.41mi
738 Sonesta Dr Harlingen, TX	2.0	1.5	1040	$925	$0.89	45d	1	1.45mi
1722 Stone Dr Unit 2 Harlingen, TX	2.0	2.5	1100	$1,000	$0.91	45d	1	1.45mi
721 Sonesta Ct Unit 4 Harlingen, TX	2.0	2.5	1085	$925	$0.85	45d	1	1.49mi
1902 E Tyler Ave Harlingen, TX	2.0–3.0	1.0–2.0	1007	$1,060	$1.05	15d	6	1.49mi

Listing history 13 events

1. 2026-06-02
   days on market $129,000 Active 91 DOM
2. 2026-06-01
   days on market $129,000 Active 90 DOM
3. 2026-05-31
   days on market $129,000 Active 89 DOM
4. 2026-05-30
   days on market $129,000 Active 88 DOM
5. 2026-04-28
   price $129,000 802-char remark

   Show marketing remark (802 chars)

   Discover this charming brick home ideally located in the heart of Harlingen! Situated on a spacious corner lot measuring approximately 0.24 acres, this property offers both comfort and convenience in a highly desirable area. The home features 3 bedrooms, 1 full bath, and 2 half bathrooms, providing a functional layout perfect for families, first-time buyers, or investors. Updates include a like-new roof and HVAC system, offering peace of mind and energy efficiency for years to come. The property is also equipped with solar panels, giving the new owner the benefit of reduced energy costs. All appliances will convey with the home, making this a truly move-in ready opportunity. Outside, you’ll find a beautiful, generously sized shed that provides excellent additional storage or workspace.

6. 2026-04-09
   price $139,000 802-char remark

   Show marketing remark (802 chars)

   Discover this charming brick home ideally located in the heart of Harlingen! Situated on a spacious corner lot measuring approximately 0.24 acres, this property offers both comfort and convenience in a highly desirable area. The home features 3 bedrooms, 1 full bath, and 2 half bathrooms, providing a functional layout perfect for families, first-time buyers, or investors. Updates include a like-new roof and HVAC system, offering peace of mind and energy efficiency for years to come. The property is also equipped with solar panels, giving the new owner the benefit of reduced energy costs. All appliances will convey with the home, making this a truly move-in ready opportunity. Outside, you’ll find a beautiful, generously sized shed that provides excellent additional storage or workspace.

7. 2026-03-24
   price $148,000 802-char remark

   Show marketing remark (802 chars)

   Discover this charming brick home ideally located in the heart of Harlingen! Situated on a spacious corner lot measuring approximately 0.24 acres, this property offers both comfort and convenience in a highly desirable area. The home features 3 bedrooms, 1 full bath, and 2 half bathrooms, providing a functional layout perfect for families, first-time buyers, or investors. Updates include a like-new roof and HVAC system, offering peace of mind and energy efficiency for years to come. The property is also equipped with solar panels, giving the new owner the benefit of reduced energy costs. All appliances will convey with the home, making this a truly move-in ready opportunity. Outside, you’ll find a beautiful, generously sized shed that provides excellent additional storage or workspace.

8. 2026-03-03
   listed $180,000 Active 802-char remark

   Show marketing remark (802 chars)

   Discover this charming brick home ideally located in the heart of Harlingen! Situated on a spacious corner lot measuring approximately 0.24 acres, this property offers both comfort and convenience in a highly desirable area. The home features 3 bedrooms, 1 full bath, and 2 half bathrooms, providing a functional layout perfect for families, first-time buyers, or investors. Updates include a like-new roof and HVAC system, offering peace of mind and energy efficiency for years to come. The property is also equipped with solar panels, giving the new owner the benefit of reduced energy costs. All appliances will convey with the home, making this a truly move-in ready opportunity. Outside, you’ll find a beautiful, generously sized shed that provides excellent additional storage or workspace.

9. 2024-08-04
   price $160,000
10. 2024-07-23
    price $200,000
11. 2024-01-03
    price $211,000
12. 2020-12-18
    soldstatus
13. 2019-10-09
    listed $129,000

ⓘ 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: $2,850 · $237/mo
• Projected year-2 tax: $2,850 · $237/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $15,827
• − Mortgage interest: −$7,226
• − Property taxes: −$2,850
• − Insurance: −$645
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$3,753
• Taxable loss: −$1,179
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $1,173/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 — Harlingen

• Score: 73/100
• State rank: #217
• US rank: #5347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harlingen, TX
• County: Cameron County · 310,734 people
• City population: 95,667
• 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

+0.0% since first listed

9 events — show timeline

• 2026-04-28 Price Changed $129,000 MCALLENMLS
• 2026-04-09 Price Changed $139,000 MCALLENMLS
• 2026-03-24 Price Changed $148,000 MCALLENMLS
• 2026-03-03 Listed $180,000 MCALLENMLS
• 2024-08-04 Price Changed $160,000 RGVMLS
• 2024-07-23 Price Changed $200,000 RGVMLS
• 2024-01-03 Price Changed $211,000 RGVMLS
• 2020-12-18 Sold (Public Records) — Public Records
• 2019-10-09 Listed $129,000 RGVMLS

Property tax history

+3.9%/yr

Latest (2025): $2,850 · +10.3% YoY. Source: county tax records.