517 S Ward Dr · Pharr, TX 78577

$68,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 22 Days on market

Built 1965 5,502 sqft lot Est $102k · 33% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity in Pharr, TX! This charming 3-bedroom, 1-bathroom single-family home offers 900 sq. ft. of comfortable living space, making it perfect for first-time homebuyers or savvy investors looking to add to their rental portfolio. The property features low-maintenance vinyl/linoleum flooring throughout, a durable metal roof, and a convenient attached carport. Situated on a manageable 5,501 sq. ft. lot, it offers great potential inside and out. Conveniently located just half a mile from Kelly Elementary and with easy access to local amenities. Schedule your private tour today!

Key facts

• Durable metal roof
• Attached carport
• Manageable lot

Tags

• LOW-MAINTENANCE FLOORING
• DURABLE METAL ROOF
• ATTACHED CARPORT
• MANAGEABLE LOT
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: No garage
• Utilities: Public water; City sewer; Electric service
• Home design: HardiPlank type siding; Metal roof; Pillar/post/pier foundation
• Construction: HardiPlank type construction
• Exterior features: Covered patio; Patio; Mature trees; Chain link fence; Paved road access; Curbs

Interior

• Kitchen: Electric water heater; No conveying appliances
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Laminate countertops; Ceiling fan(s); Drapes
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 3.4% in Pharr — 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 72/100 on livability (#245 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Hidalgo ISD (suburban): math 25% / reading 32% proficiency, ranked #678 of 826 in TX (top 82%) — 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: Jc Kelly El (297 students, 91% FRL); Diaz J H (math 52% / reading 15%, grade F, #911 of 1,662 statewide, top 56%, 565 students, 88% FRL); Hidalgo Early College H S (math 10% / reading 30%, grade F, #1,397 of 1,632 statewide, top 87%, 1,083 students, 86% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 451 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.89% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.70%
• DSCR: 2.23
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $101,700
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 E Dicker Dr	0.11mi	2/1.0 (-1)	900 (0%)	15mo	$135,000	$150	77
621 Santa Monica Ave	0.33mi	2/1.5 (-1)	909 (+1%)	9mo	$87,999	$97	69
613 E Sherrye Ln	0.11mi	3/1.0	816 (-9%)	18mo	$83,000	$102	64
7408 S Lisa Dr	0.44mi	2/1.0 (-1)	814 (-10%)	5mo	$134,500	$165	55
6904 S Saint Marie Dr	0.38mi	2/1.0 (-1)	840 (-7%)	18mo	$95,000	$113	51

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 1.70×
• Total profit: $13,297
• Equity at exit: $10,139

10-year hold

• IRR: 24.0%
• Equity multiple: 2.76×
• Total profit: $33,428
• Equity at exit: $5,879

Cash invested: $19,040 (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 78577

• Home prices YoY: -8.1%
• Rents YoY: -0.2%
• Active inventory: 451
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$189 /mo · $2,274/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $440

Break-even live

Break-even rent $727

Max offer price $68,000

Occupancy floor 61%

Sensitivity live

Price	-10% $478	-5% $459	+0% $440	+5% $420	+10% $401
Rent	-10% $338	-5% $389	+0% $440	+5% $490	+10% $541
Rate	-1.0pp $474	-0.5pp $457	base $440	+0.5pp $422	+1.0pp $404

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 E Thomas Dr Pharr, TX	3.0	2.0	1100	$1,295	$1.18	24d	1	0.60mi
901 E Thomas Dr Pharr, TX	2.0	2.0	900	$998	$1.11	21d	1	0.60mi

Listing history 16 events

1. 2026-06-18
   days on market $68,000 Active 22 DOM
2. 2026-06-17
   days on market $68,000 Active 21 DOM
3. 2026-06-16
   days on market $68,000 Active 20 DOM
4. 2026-06-15
   days on market $68,000 Active 19 DOM
5. 2026-06-14
   days on market $68,000 Active 17 DOM
6. 2026-06-10
   days on market $68,000 Active 14 DOM
7. 2026-06-09
   days on market $68,000 Active 13 DOM
8. 2026-06-08
   days on market $68,000 Active 12 DOM
9. 2026-06-07
   days on market $68,000 Active 11 DOM
10. 2026-06-05
    days on market $68,000 Active 8 DOM
11. 2026-06-03
    days on market $68,000 Active 7 DOM
12. 2026-06-02
    days on market $68,000 Active 6 DOM
13. 2026-06-01
    days on market $68,000 Active 5 DOM
14. 2026-05-31
    days on market $68,000 Active 4 DOM
15. 2026-05-31
    days on market $68,000 Active 3 DOM
16. 2026-05-27
    listed $68,000 Active

ⓘ 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: $2,274 · $189/mo
• Projected year-2 tax: $2,274 · $189/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 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 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: $15,402
• − Mortgage interest: −$3,809
• − Property taxes: −$2,274
• − Insurance: −$340
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$1,978
• Taxable income: $4,536
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $4,186/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: Hidalgo ISD
• NCES district ID: 4823100
• Math proficiency: 25% ▼ -32.00%
• Reading proficiency: 32% ▼ -10.00%
• Median HH income: $35,219
• Composite: 23.52/100
• National rank: #7866
• State rank: #678 of 826 in TX

Livability — Pharr

• Score: 72/100
• State rank: #245
• US rank: #5852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pharr, TX
• County: Hidalgo County · 623,128 people
• City population: 80,540
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 80,540
• Household income: $52,770
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2161.0

Population outlook (Hidalgo County) Hauer SSP2

• Today (2025): 955,232 people
• By 2030: 1,009,774 · +5.7%
• By 2040: 1,120,332 · +17.3%
• By 2050: 1,225,036 · +28.2%
• By 2075: 1,439,189 · +50.7%
• By 2100: 1,533,429 · +60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (95%)
• Race & ethnicity: Hispanic / Latino 95% Two or more races 45% White 5%
• Hispanic origin (detail): Mexican 92%
• Foreign-born: 29% · Canada
• Languages at home: 18% English-only · Spanish 81%

Political lean MEDSL · Hidalgo

• 2024 margin: Toss-up / Even · D 48.1% · R 51.0%
• 2008→2024 swing: -41.6pp toward R · 2008: 38.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+17.1 2016: D+40.5 2012: D+41.8 2008: D+38.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.00%
• Current HPI: 261.1606
• Rent YoY: ▼ -0.24%
• Metro: McAllen-Edinburg-Mission, 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

1 event — show timeline

• 2026-05-27 Listed $68,000 MCALLENMLS

Property tax history

+8.4%/yr

Latest (2025): $2,274 · +6.1% YoY. Source: county tax records.