1631 Playa Dr · Weslaco, TX 78596

$489,000

None bd · None ba · 4,200 sqft · MultiFamily · 118 Days on market

Built 2023 Good condition 10,359 sqft lot $116/sqft · at area comps Est $489k · at est. $42/mo HOA · 4% of rent ↓ 3% since listing

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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 +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Appreciation +4.7/10.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Exceptional investment opportunity in Weslaco, TX! This well-maintained fourplex offers a versatile unit mix featuring spacious 3-bedroom, 2-bath and 2-bedroom, 2-bath layouts. Each unit provides approximately 1,000 square feet of comfortable living space, thoughtfully designed with clean finishes and modern touches that give the property a fresh, almost-new feel. With functional floor plans, attractive interiors, and strong rental appeal, this property is ideal for investors looking to expand their portfolio or secure steady income in a growing area. A solid asset with excellent potential—don't miss this opportunity.

Key facts

• 0.24 acre lot
• 8 parking spots
• Built 2023

What this means for you Summary

Snapshot

• This is a 2×3bd/2ba + 2×2bd/2ba units multifamily listed at $489k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive. Per door: $53/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $460k (5.9% below list).
• Recommended offer: $445k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.1% in Weslaco — 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 (#277 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 711 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $524 of equity ($3k loan paydown + $-3k appreciation (-0.6% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($445k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $444,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (median comp): $489,058
• List price: $489,000
• Delta: -0.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1626 Playa Dr	0.02mi	—/—	4,200 (0%)	2mo	$485,000	$115	98
1514 Playa Dr	0.11mi	—/—	4,200 (0%)	3mo	$487,000	$116	93
1618 Playa Dr	0.05mi	—/—	4,200 (0%)	8mo	$478,000	$114	91
1612 Shadow Crk	0.11mi	—/—	4,100 (-2%)	6mo	$485,000	$118	86
1621 Shadow Crk	0.14mi	—/—	4,100 (-2%)	6mo	$485,000	$118	85
1405 Alta Vista Dr	0.32mi	—/—	4,120 (-2%)	4mo	$425,000	$103	79
1506 Playa Dr	0.14mi	—/—	4,050 (-4%)	12mo	$480,000	$119	78
3822 Las Vistas Ln	0.27mi	—/—	4,386 (+4%)	6mo	$470,000	$107	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.90×
• Total profit: $-13,938
• Equity at exit: $127,873

10-year hold

• IRR: 4.0%
• Equity multiple: 1.40×
• Total profit: $55,238
• Equity at exit: $142,851

Cash invested: $136,920 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 711
• Price-to-rent: 35.4×

Monthly cashflow live

• Estimated rent: $4,600 high
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$42
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $213

Break-even live

Break-even rent $4,331

Max offer price $489,000

Occupancy floor 90%

Sensitivity live

Price	-10% $551	-5% $382	+0% $213	+5% $44	+10% $-125
Rent	-10% $-151	-5% $31	+0% $213	+5% $394	+10% $576
Rate	-1.0pp $459	-0.5pp $337	base $213	+0.5pp $86	+1.0pp $-43

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,300
▸ 2× units	2	2	$2,300
Total (4 units)			$4,600

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 Shadow CRK Unit 1 Weslaco, TX	2.0	2.0	4100	$1,150	$0.28	45d	1	0.14mi
3912 Las Vistas Ln Unit 1 Weslaco, TX	2.0	2.0	4200	$1,050	$0.25	45d	1	0.30mi
1230 Jessie St Unit 2 Weslaco, TX	2.0	2.5	4608	$950	$0.21	45d	1	1.35mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 28 events

1. 2026-06-21
   days on market $489,000 Active 118 DOM
2. 2026-06-21
   days on market $489,000 Active 117 DOM
3. 2026-06-18
   days on market $489,000 Active 115 DOM
4. 2026-06-17
   days on market $489,000 Active 114 DOM
5. 2026-06-16
   days on market $489,000 Active 113 DOM
6. 2026-06-15
   days on market $489,000 Active 112 DOM
7. 2026-06-15
   days on market $489,000 Active 111 DOM
8. 2026-06-13
   days on market $489,000 Active 110 DOM
9. 2026-06-12
   days on market $489,000 Active 109 DOM
10. 2026-06-09
    days on market $489,000 Active 106 DOM
11. 2026-06-08
    days on market $489,000 Active 105 DOM
12. 2026-06-08
    days on market $489,000 Active 104 DOM
13. 2026-06-07
    days on market $489,000 Active 103 DOM
14. 2026-06-03
    days on market $489,000 Active 100 DOM
15. 2026-06-02
    days on market $489,000 Active 99 DOM
16. 2026-06-01
    days on market $489,000 Active 98 DOM
17. 2026-05-31
    days on market $489,000 Active 97 DOM
18. 2026-04-22
    listed $489,000 Active 631-char remark

    Show marketing remark (631 chars)

    Exceptional investment opportunity in Weslaco, TX! This well-maintained fourplex offers a versatile unit mix featuring spacious 3-bedroom, 2-bath and 2-bedroom, 2-bath layouts. Each unit provides approximately 1,000 square feet of comfortable living space, thoughtfully designed with clean finishes and modern touches that give the property a fresh, almost-new feel. With functional floor plans, attractive interiors, and strong rental appeal, this property is ideal for investors looking to expand their portfolio or secure steady income in a growing area. A solid asset with excellent potential—don't miss this opportunity.

19. 2026-02-26
    historical $1,300
20. 2026-02-23
    listed $489,000 Active 637-char remark

    Show marketing remark (637 chars)

    Exceptional investment opportunity in Weslaco, TX! This well-maintained fourplex offers a versatile unit mix featuring spacious 3-bedroom, 2-bath and 2-bedroom, 2-bath layouts. Each unit provides approximately 1,000 square feet of comfortable living space, thoughtfully designed with clean finishes and modern touches that give the property a fresh, almost-new feel. With functional floor plans, attractive interiors, and strong rental appeal, this property is ideal for investors looking to expand their portfolio or secure steady income in a growing area. A solid asset with excellent potential—don’t miss this opportunity.

21. 2026-01-13
    listed $1,300
22. 2025-12-03
    status Active
23. 2025-09-07
    status Pending
24. 2025-09-06
    historical Option
25. 2025-08-01
    listed $485,000 Active
26. 2025-04-12
    price $489,000
27. 2024-12-12
    listed $505,000 Active
28. 2024-05-30
    listed $505,000 Active

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $55,200
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$4,416
• − Management: −$4,416
• − HOA: −$504
• − Depreciation: −$14,225
• Taxable loss: −$5,533
• Est. tax savings @ 24.0%: +$1,328
• After-tax cash flow: $3,880/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 · 3 photos

Good 80/100 Cosmetic rehab

This well-maintained fourplex in Weslaco, TX, offers a versatile unit mix with spacious layouts and modern finishes. Ideal for investors looking to expand their portfolio or secure steady income in a growing area.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can attract more tenants and buyers.
• Both Kitchen and bathroom updates — Modernizing these spaces can increase both rental and resale value.
• Both HVAC maintenance and upgrade — A clean and efficient HVAC system improves comfort and energy efficiency, attracting more tenants and buyers.
• Both Landscaping and curb appeal — A well-maintained exterior can attract more tenants and buyers, increasing both rental and resale value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can attract more tenants and buyers. ↑
• Both Kitchen and bathroom updates — Modernizing these spaces can increase both rental and resale value. ↑
• Both HVAC maintenance and upgrade — A clean and efficient HVAC system improves comfort and energy efficiency, attracting more tenants and buyers. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can attract more tenants and buyers, increasing both rental and resale value. ↑

ⓘ 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: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Weslaco

• Score: 72/100
• State rank: #277
• US rank: #6469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Weslaco, TX
• Population (ZIP): 38,942

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 (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

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: ▼ -0.58%
• Current HPI: 261.5117
• Rent YoY: —
• Metro: —
• 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

-3.2% since first listed

11 events — show timeline

• 2026-04-22 Listed $489,000 RGVMLS
• 2026-02-26 Rental Removed $1,300 MCALLENMLS
• 2026-02-23 Listed $489,000 MCALLENMLS
• 2026-01-13 Listed for Rent $1,300 MCALLENMLS
• 2025-12-03 Relisted — MCALLENMLS
• 2025-09-07 Pending — MCALLENMLS
• 2025-09-06 Contingent — MCALLENMLS
• 2025-08-01 Listed $485,000 MCALLENMLS
• 2025-04-12 Price Changed $489,000 MCALLENMLS
• 2024-12-12 Listed $505,000 MCALLENMLS
• 2024-05-30 Listed $505,000 MCALLENMLS