346 Windmill Palm St · Alamo, TX 78516

$64,000

3 bd · 1.0 ba · 1,389 sqft · Manufactured public records · 210 Days on market

Built 1989 5,654 sqft lot $46/sqft · 13% below area Est $73k · 13% under $40/mo HOA · 3% of rent

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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 +13.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready 2-bed, 2-bath mobile home with a bonus room in the desirable 55+ Royal Palms community! Comes fully furnished with all appliances included. Enjoy resort-style amenities like a clubhouse, pool, and organized activities. Spacious layout, private baths for each bedroom, and a flexible bonus space for guests or hobbies. Perfect for low-maintenance living in a welcoming community.

Key facts

• Flexible bonus space
• Clubhouse
• Bonus room

Tags

• BONUS ROOM
• FULLY FURNISHED
• RESORT-STYLE AMENITIES
• CLUBHOUSE
• PRIVATE BATHS
• FLEXIBLE BONUS SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 3.8% in Alamo — 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 62/100 on livability (#916 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, amenities F.
• Donna ISD (suburban): math 11% / reading 18% proficiency, ranked #821 of 826 in TX (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Capt D Salinas Ii El (math 16% / reading 17%, grade F, #3,946 of 4,322 statewide, top 92%, 416 students, 96% FRL); Dora M Sauceda Middle (math 12% / reading 23%, grade F, #1,507 of 1,662 statewide, top 91%, 660 students, 100% FRL); Donna North H S (math 8% / reading 17%, grade F, #1,539 of 1,632 statewide, top 95%, 2,091 students, 100% FRL) — zoned schools average 98% FRL vs 48% district-wide (50 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 349 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 31% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 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 + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.17% ✓
• Cap rate: 17.22%
• Cash-on-cash: 39.02%
• DSCR: 2.74
• GRM: 3.8

CMA / ARV

• ARV (median comp): $73,160
• List price: $64,000
• Delta: -12.52%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 Fan Palm	0.06mi	2/2.0 (-1)	1,393 (+0%)	9mo	$99,000	$71	80
400 Castle Palm Dr	0.21mi	3/2.0	1,240 (-11%)	3mo	$73,160	$59	66
835 Santa Anna Dr	0.75mi	3/2.0	1,404 (+1%)	21mo	$75,000	$53	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.50×
• Total profit: $26,810
• Equity at exit: $9,543

10-year hold

• IRR: 42.1%
• Equity multiple: 4.98×
• Total profit: $71,404
• Equity at exit: $5,534

Cash invested: $17,920 (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 78516

• Home prices YoY: -6.5%
• Active inventory: 349
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,389 high
• Mortgage (P&I): −$336
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$27
• HOA: −$40
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $583

Break-even live

Break-even rent $651

Max offer price $64,000

Occupancy floor 53%

Sensitivity live

Price	-10% $619	-5% $601	+0% $583	+5% $565	+10% $547
Rent	-10% $473	-5% $528	+0% $583	+5% $638	+10% $692
Rate	-1.0pp $615	-0.5pp $599	base $583	+0.5pp $566	+1.0pp $549

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
438 Alma Ave Alamo, TX	4.0	2.0	1392	$1,600	$1.15	16d	1	0.19mi
428 E Acacia Ave Unit 4 Alamo, TX	3.0	2.0	1040	$1,300	$1.25	25d	1	0.23mi
436 E Acacia Ave Alamo, TX	3.0	2.0	1130	$1,225	$1.08	16d	1	0.24mi
444 E Acacia Ave Unit 3 Alamo, TX	3.0	2.0	1107	$1,300	$1.17	25d	1	0.26mi
812 Santa Anna Dr Alamo, TX	2.0	2.0	1400	$2,000	$1.43	16d	1	0.65mi
357 Pine Crk Alamo, TX	4.0	2.0	1580	$1,750	$1.11	16d	1	0.74mi
1036 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	25d	1	0.91mi
1020 Palm Dr Unit 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	25d	1	0.91mi
1032 Palm Dr Apt 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	25d	1	0.91mi
1233 Country Club Dr Unit 4 Alamo, TX	2.0	2.0	1099	$1,050	$0.96	45d	1	1.02mi
1122 Country Club Dr Unit 4 Alamo, TX	3.0	2.0	1060	$1,200	$1.13	16d	1	1.02mi
529 Country Club Dr Alamo, TX	3.0	2.0	1419	$1,950	$1.37	16d	1	1.05mi
740 N Alamo Rd Unit 1 Alamo, TX	2.0	2.0	956	$1,200	$1.26	45d	1	1.11mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	25d	1	1.11mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	45d	1	1.11mi
443 Medina Ln Unit 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	25d	1	1.15mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	25d	1	1.15mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,200	$1.32	45d	1	1.15mi
1020 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,275	$1.18	45d	1	1.17mi
427 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.21mi
427 Frio Ln Apt 4 Alamo, TX	3.0	2.0	1118	$1,275	$1.14	46d	1	1.21mi
440 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,275	$1.40	45d	1	1.21mi
439 Frio Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	25d	1	1.21mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	45d	1	1.21mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	45d	1	1.21mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	25d	1	1.21mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	25d	1	1.21mi
444 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	25d	1	1.21mi
1203 W Jasmine Ave Alamo, TX	3.0	2.0	1588	$1,500	$0.94	23d	1	1.24mi
913 S 13th St Unit 1 Alamo, TX	2.0	2.0	1008	$1,050	$1.04	45d	1	1.41mi

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: pool

Listing history 21 events

1. 2026-06-21
   days on market $64,000 Active 210 DOM
2. 2026-06-18
   days on market $64,000 Active 207 DOM
3. 2026-06-17
   days on market $64,000 Active 206 DOM
4. 2026-06-16
   days on market $64,000 Active 205 DOM
5. 2026-06-15
   days on market $64,000 Active 204 DOM
6. 2026-06-14
   days on market $64,000 Active 202 DOM
7. 2026-06-13
   days on market $64,000 Active 201 DOM
8. 2026-06-10
   days on market $64,000 Active 199 DOM
9. 2026-06-09
   days on market $64,000 Active 198 DOM
10. 2026-06-08
    days on market $64,000 Active 197 DOM
11. 2026-06-07
    days on market $64,000 Active 196 DOM
12. 2026-06-05
    days on market $64,000 Active 193 DOM
13. 2026-06-03
    days on market $64,000 Active 192 DOM
14. 2026-06-02
    days on market $64,000 Active 191 DOM
15. 2026-06-01
    days on market $64,000 Active 190 DOM
16. 2026-05-31
    days on market $64,000 Active 189 DOM
17. 2026-05-31
    days on market $64,000 Active 188 DOM
18. 2026-04-12
    status Active 392-char remark

    Show marketing remark (392 chars)

    Move-in ready 2-bed, 2-bath mobile home with a bonus room in the desirable 55+ Royal Palms community! Comes fully furnished with all appliances included. Enjoy resort-style amenities like a clubhouse, pool, and organized activities. Spacious layout, private baths for each bedroom, and a flexible bonus space for guests or hobbies. Perfect for low-maintenance living in a welcoming community.

19. 2025-12-08
    price $64,000 392-char remark

    Show marketing remark (392 chars)

    Move-in ready 2-bed, 2-bath mobile home with a bonus room in the desirable 55+ Royal Palms community! Comes fully furnished with all appliances included. Enjoy resort-style amenities like a clubhouse, pool, and organized activities. Spacious layout, private baths for each bedroom, and a flexible bonus space for guests or hobbies. Perfect for low-maintenance living in a welcoming community.

20. 2025-11-11
    listed $64,500 Active 392-char remark

    Show marketing remark (392 chars)

    Move-in ready 2-bed, 2-bath mobile home with a bonus room in the desirable 55+ Royal Palms community! Comes fully furnished with all appliances included. Enjoy resort-style amenities like a clubhouse, pool, and organized activities. Spacious layout, private baths for each bedroom, and a flexible bonus space for guests or hobbies. Perfect for low-maintenance living in a welcoming community.

21. 2001-03-01
    soldstatus

ⓘ 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: $1,343 · $112/mo
• Projected year-2 tax: $1,343 · $112/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 23 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: $16,663
• − Mortgage interest: −$3,585
• − Property taxes: −$1,343
• − Insurance: −$320
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − HOA: −$480
• − Depreciation: −$1,862
• Taxable income: $6,407
• Est. tax owed @ 24.0%: −$1,538
• After-tax cash flow: $5,455/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: Donna ISD
• NCES district ID: 4817390
• Math proficiency: 11% ▼ -30.00%
• Reading proficiency: 18% ▼ -13.00%
• Median HH income: $27,330
• Composite: 11.16/100
• National rank: #9728
• State rank: #821 of 826 in TX

Livability — Alamo

• Score: 62/100
• State rank: #916
• US rank: #16356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamo, TX
• County: Hidalgo County · 623,128 people
• City population: 34,370
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 34,370
• Household income: $53,229
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 476.0

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 (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 40% White 10% Black 1%
• Hispanic origin (detail): Mexican 86%
• Foreign-born: 29% · Canada
• Languages at home: 24% English-only · Spanish 76%

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: ▼ -15.56%
• Current HPI: 225.4438
• Rent YoY: —
• 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

-0.8% since first listed

4 events — show timeline

• 2026-04-12 Relisted — MCALLENMLS
• 2025-12-08 Price Changed $64,000 MCALLENMLS
• 2025-11-11 Listed $64,500 MCALLENMLS
• 2001-03-01 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,343 · +8.3% YoY. Source: county tax records.