2005 la Paloma Ave · Harlingen, TX 78550

$74,950

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 5 Days on market

Built 1965 7,000 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investor Alert! Bring your toolbelt and your imagination to this 1,008 sq ft diamond in the rough. Property needs significant repairs and a complete overhaul, but the potential is massive. Clear out, rehab, and reap the rewards. Seller says: Bring all offers! Selling strictly AS-IS.

Key facts

• 7,000 sq ft lot
• Built 1965
• Listed 5 days

Property features AI

Finance

• Other: Located in Avondale Subdivision

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1 story
• Construction: Wood siding construction
• Exterior features: Composition roof

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric water heater; Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.4% 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-, commute F, employment 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.
• Zoned schools: Dishman El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 320 students, 95% FRL); Gutierrez Middle (math 26% / reading 31%, grade F, #1,122 of 1,662 statewide, top 69%, 819 students, 71% FRL); Harlingen H S (math 32% / reading 22%, grade F, #1,204 of 1,632 statewide, top 75%, 1,942 students, 82% FRL).
• 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); 68% 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 $518 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $74,950

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.62% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.21%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $154,224
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1713 Farley St	0.27mi	3/1.0	1,008 (0%)	9mo	$140,000	$139	76
1622 W Vinson Ave NW	0.31mi	3/2.0	1,148 (+14%)	10mo	$175,900	$153	54

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: 19.3%
• Equity multiple: 1.79×
• Total profit: $16,507
• Equity at exit: $11,175

10-year hold

• IRR: 27.9%
• Equity multiple: 3.52×
• Total profit: $52,893
• Equity at exit: $6,480

Cash invested: $20,986 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$393
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $441

Break-even live

Break-even rent $655

Max offer price $74,950

Occupancy floor 59%

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: $18,738
• Closing costs: $2,248
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2104 Multi National Harlingen, TX	2.0	2.0	830	$1,100	$1.33	44d	1	0.16mi
2204 Northridge Ave Unit 23 Harlingen, TX	2.0	2.0	955	$1,250	$1.31	21d	1	0.19mi
2204 Northridge Ave Unit 2 Harlingen, TX	2.0	2.0	955	$1,250	$1.31	44d	1	0.19mi
2205 Multi National Unit A Harlingen, TX	2.0	2.0	876	$1,100	$1.26	44d	1	0.24mi
2211 Northridge Ave Unit C Harlingen, TX	2.0	2.0	877	$1,150	$1.31	44d	1	0.24mi
2005 Southridge Ave Unit A Harlingen, TX	2.0	2.0	848	$1,250	$1.47	44d	1	0.25mi
2209 Multi National Unit D Harlingen, TX	2.0	2.0	876	$1,100	$1.26	44d	1	0.25mi
2218 Multi National Unit B Harlingen, TX	2.0	2.0	877	$1,100	$1.25	14d	1	0.26mi
2219 Northridge Ave Harlingen, TX	2.0	2.0	830	$1,000	$1.20	14d	1	0.27mi
18586 Primera Rd Harlingen, TX	2.0	2.0	1100	$1,095	$1.00	44d	1	0.45mi
821 W Matz Ave Unit B Harlingen, TX	3.0	2.0	1190	$1,300	$1.09	14d	1	0.90mi
2101 N G St Unit B Harlingen, TX	2.0	2.0	1004	$950	$0.95	21d	1	1.00mi
226 W Darrell Wayne Shipp St Harlingen, TX	3.0	2.0	1400	$1,700	$1.21	44d	1	1.23mi
121 W Ebano Ct Harlingen, TX	2.0	2.0	1174	$1,200	$1.02	44d	1	1.23mi
1917 New Combes Hwy Unit H Harlingen, TX	3.0	2.0	1098	$975	$0.89	21d	1	1.29mi
17931 Spruce St Harlingen, TX	3.0	2.0	1284	$1,850	$1.44	44d	1	1.42mi
20558 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	44d	1	1.44mi
20550 Alta Vista Ct Unit C Harlingen, TX	2.0	2.0	970	$1,125	$1.16	44d	1	1.45mi
1007 El Paso Cir Harlingen, TX	3.0	2.0	1201	$1,600	$1.33	44d	1	1.45mi

Listing history 6 events

1. 2026-06-18
   days on market $74,950 Active 5 DOM
2. 2026-06-17
   days on market $74,950 Active 4 DOM
3. 2026-06-16
   days on market $74,950 Active 3 DOM
4. 2026-06-15
   days on market $74,950 Active 2 DOM
5. 2026-06-14
   remarks 283-char remark
6. 2026-06-14
   listed $74,950 Active 1 DOM

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$254/yr (+$21/mo · 22.7%)

ⓘ 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 (unshaded) · 70% 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: $14,557
• − Mortgage interest: −$4,198
• − Property taxes: −$1,118
• − Insurance: −$375
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,180
• Taxable income: $4,357
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $4,245/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

1 event — show timeline

• 2026-06-13 Listed $74,950 RGVMLS

Property tax history

+5.3%/yr

Latest (2025): $1,118 · +10.3% YoY. Source: county tax records.