701 Mendez St · Harlingen, TX 78550

$75,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 350 Days on market

Built 1957 7,000 sqft lot $84/sqft · 53% below area ↓ 6% since listing

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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 +25.2/30.0
• 1% rule +8.5/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 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

Perfect for a fixer upper . It will need a full rehab .

Key facts

• 7,000 sq ft lot
• Built 1957
• Listed 350 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $519 of loan paydown is wiped out by about $2k 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 350 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 350 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.35% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 6.2

CMA / ARV

• ARV (median comp): $158,069
• List price: $75,000
• Delta: -52.55%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1014 Beaumont St	0.42mi	3/1.0 (+1)	880 (-2%)	2mo	$165,000	$188	70

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-932
• Equity at exit: $11,183

10-year hold

• IRR: 9.2%
• Equity multiple: 1.72×
• Total profit: $15,186
• Equity at exit: $6,485

Cash invested: $21,000 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,011 high
• Mortgage (P&I): −$393
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $168

Break-even live

Break-even rent $799

Max offer price $75,000

Occupancy floor 78%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1917 New Combes Hwy Unit H Harlingen, TX	3.0	2.0	1098	$975	$0.89	21d	1	0.37mi
902 N D St Unit A Harlingen, TX	3.0	2.0	850	$825	$0.97	43d	1	0.41mi
2101 N G St Unit B Harlingen, TX	2.0	2.0	1004	$950	$0.95	21d	1	0.48mi
917 N 1st St Unit 917 Harlingen, TX	2.0	1.0	700	$770	$1.10	43d	1	0.51mi
717 E Jim Hogg Ave Harlingen, TX	3.0	1.0	1039	$1,200	$1.15	13d	1	0.96mi
409 E Madison Ave Unit 4 Harlingen, TX	2.0	1.0	770	$750	$0.97	43d	1	1.03mi
106 S A St Harlingen, TX	1.0–2.0	1.0–2.0	877	$850	$0.97	13d	3	1.05mi
2005 Southridge Ave Unit A Harlingen, TX	2.0	2.0	848	$1,250	$1.47	43d	1	1.23mi
709 E Jackson St Harlingen, TX	2.0	1.0	1100	$1,050	$0.95	13d	1	1.28mi
204 S 7th St Harlingen, TX	2.0	1.0	713	$725	$1.02	21d	1	1.34mi
2104 Multi National Harlingen, TX	2.0	2.0	830	$1,100	$1.33	43d	1	1.36mi
2205 Multi National Unit A Harlingen, TX	2.0	2.0	876	$1,100	$1.26	43d	1	1.41mi
20558 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	43d	1	1.42mi
2209 Multi National Unit D Harlingen, TX	2.0	2.0	876	$1,100	$1.26	43d	1	1.43mi
20550 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	43d	1	1.43mi
2204 Northridge Ave Unit 23 Harlingen, TX	2.0	2.0	955	$1,250	$1.31	21d	1	1.48mi
2204 Northridge Ave Unit 2 Harlingen, TX	2.0	2.0	955	$1,250	$1.31	43d	1	1.48mi
2218 Multi National Unit B Harlingen, TX	2.0	2.0	877	$1,100	$1.25	13d	1	1.48mi
2211 Northridge Ave Unit C Harlingen, TX	2.0	2.0	877	$1,150	$1.31	43d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $75,000 Active 350 DOM
2. 2026-06-17
   days on market $75,000 Active 349 DOM
3. 2026-06-16
   days on market $75,000 Active 348 DOM
4. 2026-06-15
   days on market $75,000 Active 347 DOM
5. 2026-06-14
   days on market $75,000 Active 345 DOM
6. 2026-06-10
   days on market $75,000 Active 342 DOM
7. 2026-06-09
   days on market $75,000 Active 341 DOM
8. 2026-06-08
   days on market $75,000 Active 340 DOM
9. 2026-06-07
   days on market $75,000 Active 339 DOM
10. 2026-06-03
    days on market $75,000 Active 335 DOM
11. 2026-06-02
    days on market $75,000 Active 334 DOM
12. 2026-06-01
    days on market $75,000 Active 333 DOM
13. 2026-05-31
    days on market $75,000 Active 332 DOM
14. 2026-05-30
    days on market $75,000 Active 331 DOM
15. 2025-08-07
    price $75,000 56-char remark

    Show marketing remark (56 chars)

    Perfect for a fixer upper . It will need a full rehab .

16. 2025-07-03
    listed $79,900 Active 56-char remark

    Show marketing remark (56 chars)

    Perfect for a fixer upper . It will need a full rehab .

17. 1988-03-11
    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: $2,480 · $207/mo
• Projected year-2 tax: $2,480 · $207/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 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: $12,134
• − Mortgage interest: −$4,201
• − Property taxes: −$2,480
• − Insurance: −$375
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$2,182
• Taxable income: $955
• Est. tax owed @ 24.0%: −$229
• After-tax cash flow: $1,782/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

-6.1% since first listed

3 events — show timeline

• 2025-08-07 Price Changed $75,000 HARMLS
• 2025-07-03 Listed $79,900 HARMLS
• 1988-03-11 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2025): $2,480 · -2.3% YoY. Source: county tax records.