2100 Old Port Isabel Rd

Brownsville, TX 78526

$2,700,000C

None bd · None ba · 20,000 sqft · Built 2007 · MultiFamily · Active · 394 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $30,288/mo
• Mortgage (P&I): −$14,159
• Tax + insurance: −$4,500
• HOA: −$0
• Vac / Maint / Mgmt: −$6,360
• Net cashflow: $5,268/mo
• Annual: $63,221/yr
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• 1% rule: 1.12%
• Cash to close: $756,000

Investor read

• This is a 24 × 3-bed/1-bath units multifamily listed at $2.70M. Condition is rated fair.
• At list price, monthly cash flow is $5k ($63k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $2.70M).
• It's been on market 394 days — a 12% lower offer ($2.38M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.38M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $19k of loan paydown is wiped out by about $81k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#62 in TX, #2,311 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities D, crime D-.
• Brownsville ISD (urban): math 20% / reading 34% proficiency, ranked #710 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 413 active listings in the ZIP; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 9 sale attempts since 3y ago; this cycle's ask has dropped $250k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.6% vs local median 5.0% in Brownsville — 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.
• At $30,288/mo this rent would consume 515% of the median local household income ($71k/yr) (locally 1063% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 394 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — Age and potential for leaks
• Major: interior walls/paint — Age and potential for damage
• Major: windows — Age and potential for leaks
• Major: HVAC/mechanicals — Age and potential for inefficiency
• Major: landscaping — Overgrown and unkempt appearance