1020 Dicky Ln #2 · Laredo, TX 78045

$165,000

3 bd · 2.5 ba · 1,265 sqft · MultiFamily · 63 Days on market

Built 2006 Good condition 2,766 sqft lot

---

Why this score? — see what drove the D+ 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Newly painted condo in central Laredo. Offering 3 bedrooms 2.5 baths

Key facts

• 2,766 sq ft lot
• Built 2006
• Listed 62 days

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Underground utilities
• Home design: Condo/Townhouse (residential); 2 stories
• Construction: Stucco construction; Slab foundation
• Exterior features: Level lot

Interior

• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $80 ($963/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (6.4% below list).
• Recommended offer: $155k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.1% in Laredo — 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 (#227 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• United ISD (urban): math 27% / reading 38% proficiency, ranked #568 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bonnie L Garcia El (math 18% / reading 27%, grade F, #3,311 of 4,322 statewide, top 77%, 741 students, 84% FRL); United South Middle (math 25% / reading 33%, grade F, #1,103 of 1,662 statewide, top 67%, 1,009 students, 84% FRL); United South H S (math 44% / reading 44%, grade F, #697 of 1,632 statewide, top 43%, 3,243 students, 85% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 399 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,448 units permitted in Webb County in 2024 (245 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Webb County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $154,501 (6.4% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.7% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.59×
• Total profit: $-18,913
• Equity at exit: $24,602

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,626
• Equity at exit: $14,266

Cash invested: $46,200 (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 78045

• Home prices YoY: -34.5%
• Rents YoY: 4.7%
• Active inventory: 399
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,545 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $80

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 90%

Sensitivity live

Price	-10% $194	-5% $137	+0% $80	+5% $23	+10% $-34
Rent	-10% $-42	-5% $19	+0% $80	+5% $141	+10% $202
Rate	-1.0pp $163	-0.5pp $122	base $80	+0.5pp $38	+1.0pp $-6

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 Dicky Ln Unit 2 Laredo, TX	3.0	2.5	1265	$1,500	$1.19	45d	1	0.02mi
4248 Dorel Dr Unit 102C Laredo, TX	3.0	2.5	1450	$1,300	$0.90	45d	1	0.22mi
4246 Dorel Dr Unit 22 Laredo, TX	2.0	2.5	1184	$1,250	$1.06	45d	1	0.28mi
1011 Emerald Valley Dr Unit 112 B Laredo, TX	3.0	2.5	1659	$1,500	$0.90	45d	1	0.33mi
1011 Emerald Valley Dr #101 Laredo, TX	3.0	2.5	1659	$1,700	$1.02	45d	1	0.33mi
311 Dorel Dr Unit 203 Laredo, TX	2.0	1.0	923	$1,200	$1.30	45d	1	0.44mi
3118 Garfield St Unit 5 Laredo, TX	2.0	1.0	887	$1,050	$1.18	45d	1	0.84mi
402 Prescott Loop Laredo, TX	3.0	2.0	1122	$1,550	$1.38	45d	1	1.16mi
1201 Gage Loop Unit G80 Laredo, TX	3.0	2.0	981	$1,475	$1.50	45d	1	1.42mi

Listing history 22 events

1. 2026-06-22
   days on market $165,000 Active 63 DOM
2. 2026-06-21
   days on market $165,000 Active 62 DOM
3. 2026-06-19
   days on market $165,000 Active 60 DOM
4. 2026-06-18
   days on market $165,000 Active 59 DOM
5. 2026-06-18
   price $165,000 Active 58 DOM
6. 2026-06-17
   days on market $174,000 Active 58 DOM
7. 2026-06-16
   days on market $174,000 Active 57 DOM
8. 2026-06-15
   days on market $174,000 Active 56 DOM
9. 2026-06-14
   days on market $174,000 Active 54 DOM
10. 2026-06-13
    days on market $174,000 Active 53 DOM
11. 2026-06-10
    days on market $174,000 Active 51 DOM
12. 2026-06-09
    days on market $174,000 Active 50 DOM
13. 2026-06-08
    days on market $174,000 Active 49 DOM
14. 2026-06-07
    days on market $174,000 Active 48 DOM
15. 2026-06-03
    days on market $174,000 Active 44 DOM
16. 2026-06-02
    days on market $174,000 Active 43 DOM
17. 2026-06-01
    days on market $174,000 Active 42 DOM
18. 2026-05-31
    days on market $174,000 Active 41 DOM
19. 2026-05-30
    days on market $174,000 Active 40 DOM
20. 2026-05-15
    price $174,000 68-char remark
21. 2026-04-20
    listed $180,000 Active 68-char remark
22. 2026-03-28
    listed $1,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,540
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$4,800
• Taxable loss: −$1,769
• Est. tax savings @ 24.0%: +$425
• After-tax cash flow: $1,388/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This property is in good condition with a recently painted exterior and well-maintained landscaping, making it a good candidate for both resale and rental.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both HVAC maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both HVAC maintenance — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: United ISD
• NCES district ID: 4843650
• Math proficiency: 27% ▼ -36.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $47,780
• Composite: 28.02/100
• National rank: #6848
• State rank: #568 of 826 in TX

Livability — Laredo

• Score: 73/100
• State rank: #227
• US rank: #5399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laredo, TX
• County: Webb County · 67,333 people
• City population: 67,333
• Metro: Laredo, TX
• Population (ZIP): 67,333
• Household income: $90,608
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1042.0

Population outlook (Webb County) Hauer SSP2

• Today (2025): 301,387 people
• By 2030: 316,307 · +5.0%
• By 2040: 345,636 · +14.7%
• By 2050: 370,647 · +23.0%
• By 2075: 413,907 · +37.3%
• By 2100: 416,458 · +38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (93%)
• Race & ethnicity: Hispanic / Latino 93% Two or more races 50% White 5%
• Hispanic origin (detail): Mexican 87%
• Foreign-born: 26% · Canada
• Languages at home: 16% English-only · Spanish 82%

Political lean MEDSL · Webb

• 2024 margin: Toss-up / Even · D 48.5% · R 50.7%
• 2008→2024 swing: -45.6pp toward R · 2008: 43.4pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+23.3 2016: D+51.6 2012: D+54.0 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.24%
• Current HPI: 167.3597
• Rent YoY: ▲ 4.70%
• Metro: Laredo, 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

+10900.0% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $165,000 LAOR
• 2026-06-13 Rental Removed $1,500 LAOR
• 2026-05-15 Price Changed $174,000 LAOR
• 2026-04-20 Listed $180,000 LAOR
• 2026-03-28 Listed for Rent $1,500 LAOR