706 N 1st St · Harlingen, TX 78550

$140,000

3 bd · 2.0 ba · 1,861 sqft · SingleFamily public records · 202 Days on market

Built 1930 9,750 sqft lot $75/sqft · 23% below area Est $183k · 23% under ↓ 15% since listing

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.8/10.0
• 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 MLS

This home features durable vinyl siding with stone accents, 3 bedrooms, 2 full bathrooms, and a laundry room. The extended front driveway provides parking for up to three vehicles. The HVAC system was replaced just last year, offering added peace of mind. Conveniently located near a gas station and local restaurants, this home puts everyday essentials close by.

Key facts

• Hvac system replaced
• Stone accents
• Vinyl siding

Tags

• VINYL SIDING
• STONE ACCENTS
• EXTENDED FRONT DRIVEWAY
• HVAC SYSTEM REPLACED
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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-, schools D+, commute 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.
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 40% of the median local income ($49k/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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.80%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (median comp): $182,639
• List price: $140,000
• Delta: -23.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Orange Grove Rd	0.11mi	3/2.0	1,806 (-3%)	12mo	$156,000	$86	80
8721 Sandpiper Dr	0.63mi	3/2.0	1,730 (-7%)	17mo	$345,000	$199	45

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-5,631
• Equity at exit: $20,874

10-year hold

• IRR: 6.5%
• Equity multiple: 1.50×
• Total profit: $19,405
• Equity at exit: $12,105

Cash invested: $39,200 (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 78550

• Rents YoY: 3.5%
• Active inventory: 465
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$734
• Tax from tax record: −$256 /mo · $3,070/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $255

Break-even live

Break-even rent $1,327

Max offer price $140,000

Occupancy floor 80%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 W Madison Ave Unit A Harlingen, TX	4.0	2.5	1761	$1,600	$0.91	21d	1	0.72mi
914 E Carrol St Harlingen, TX	3.0	2.5	1914	$1,700	$0.89	21d	1	0.76mi
421 Jennifer Ct Harlingen, TX	3.0	2.0	2027	$1,975	$0.97	21d	1	1.10mi
818 W Buchanan St Harlingen, TX	3.0	2.0	1406	$1,350	$0.96	43d	1	1.14mi
714 Winddrift St Harlingen, TX	3.0	2.0	1668	$1,850	$1.11	21d	1	1.21mi
226 W Darrell Wayne Shipp St Harlingen, TX	3.0	2.0	1400	$1,700	$1.21	43d	1	1.22mi
918 E Leggett Rd Harlingen, TX	3.0	2.0	1756	$1,700	$0.97	21d	1	1.29mi
1057 E Matz Ave Harlingen, TX	3.0	2.0	1692	$1,850	$1.09	43d	1	1.34mi
1309 Summerfield Ln Harlingen, TX	3.0	2.0	2127	$2,100	$0.99	43d	1	1.40mi
2209 E Jackson St Harlingen, TX	4.0	2.0	1356	$1,250	$0.92	43d	1	1.47mi

Listing history 21 events

1. 2026-06-16
   days on market $140,000 Active 202 DOM
2. 2026-06-15
   days on market $140,000 Active 201 DOM
3. 2026-06-14
   days on market $140,000 Active 199 DOM
4. 2026-06-10
   days on market $140,000 Active 196 DOM
5. 2026-06-09
   days on market $140,000 Active 195 DOM
6. 2026-06-08
   days on market $140,000 Active 194 DOM
7. 2026-06-07
   days on market $140,000 Active 193 DOM
8. 2026-06-03
   days on market $140,000 Active 189 DOM
9. 2026-06-02
   days on market $140,000 Active 188 DOM
10. 2026-06-01
    days on market $140,000 Active 187 DOM
11. 2026-05-31
    days on market $140,000 Active 186 DOM
12. 2026-05-30
    days on market $140,000 Active 185 DOM
13. 2026-01-23
    price $140,000 363-char remark

    Show marketing remark (363 chars)

    This home features durable vinyl siding with stone accents, 3 bedrooms, 2 full bathrooms, and a laundry room. The extended front driveway provides parking for up to three vehicles. The HVAC system was replaced just last year, offering added peace of mind. Conveniently located near a gas station and local restaurants, this home puts everyday essentials close by.

14. 2025-11-26
    listed $145,000 Active 363-char remark

    Show marketing remark (363 chars)

    This home features durable vinyl siding with stone accents, 3 bedrooms, 2 full bathrooms, and a laundry room. The extended front driveway provides parking for up to three vehicles. The HVAC system was replaced just last year, offering added peace of mind. Conveniently located near a gas station and local restaurants, this home puts everyday essentials close by.

15. 2024-10-18
    price $145,000
16. 2024-10-18
    price $145,000
17. 2024-08-26
    listed $155,000 Active
18. 2024-07-16
    price $155,000
19. 2024-05-06
    listed $165,000 Active
20. 2005-11-16
    soldstatus
21. 2004-10-08
    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: $3,070 · $256/mo
• Projected year-2 tax: $3,070 · $256/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 (unshaded) · 0% 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 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: $19,795
• − Mortgage interest: −$7,842
• − Property taxes: −$3,070
• − Insurance: −$700
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,073
• Taxable income: $943
• Est. tax owed @ 24.0%: −$226
• After-tax cash flow: $2,832/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

-15.2% since first listed

9 events — show timeline

• 2026-01-23 Price Changed $140,000 RGVMLS
• 2025-11-26 Listed $145,000 RGVMLS
• 2024-10-18 Price Changed $145,000 RGVMLS
• 2024-10-18 Price Changed $145,000 MCALLENMLS
• 2024-08-26 Listed $155,000 MCALLENMLS
• 2024-07-16 Price Changed $155,000 RGVMLS
• 2024-05-06 Listed $165,000 MCALLENMLS
• 2005-11-16 Sold (Public Records) — Public Records
• 2004-10-08 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $3,070 · -2.9% YoY. Source: county tax records.