15-B Palmetto Ct · Brownsville, TX 78521

$116,000

2 bd · 1.0 ba · 1,024 sqft · Condo public records · 125 Days on market

Built 1974 $113/sqft · 21% above area Est $96k · 21% over ↓ 9% 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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +6.8/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 BEDROOM /1 . 5 BATH TWO-STORY CONDOMINIUM CONVENIENTLY LOCATED NEAR SCHOOLS AND SHOPPING CENTERS, WALMART AND HEB. REFRIGERATOR, STOVE CONVEY WITH SALE.

Key facts

• Stove
• Refrigerator
• Built 1974

Tags

• TWO-STORY CONDOMINIUM
• REFRIGERATOR
• STOVE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.

Location & tenants

• 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 fast (+8.2%/yr); 365 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/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 $802 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.18% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.1

CMA / ARV

• ARV (median comp): $96,086
• List price: $116,000
• Delta: 20.73%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $4,055
• Equity at exit: $17,296

10-year hold

• IRR: 17.0%
• Equity multiple: 2.74×
• Total profit: $56,656
• Equity at exit: $10,030

Cash invested: $32,480 (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 78521

• Home prices YoY: -26.0%
• Rents YoY: 8.2%
• Active inventory: 365
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,367 high
• Mortgage (P&I): −$608
• Tax from tax record: −$179 /mo · $2,147/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $245

Break-even live

Break-even rent $1,058

Max offer price $116,000

Occupancy floor 77%

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: $29,000
• Closing costs: $3,480
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Palmetto Ct Brownsville, TX	2.0	1.5	1024	$1,100	$1.07	21d	1	0.01mi
2D Palmetto Ct Unit 2D Brownsville, TX	3.0	2.0	1360	$1,450	$1.07	21d	1	0.05mi
3901 Las Palmas Cir Brownsville, TX	2.0	2.0	1208	$1,600	$1.32	21d	1	0.11mi
2815 E Price Rd Unit 104 Brownsville, TX	2.0	2.5	1123	$1,350	$1.20	21d	1	0.18mi
2573 Rockwell Dr Unit 2E Brownsville, TX	2.0	1.0	875	$1,000	$1.14	21d	1	0.66mi
2573 Rockwell Dr Unit 1C Brownsville, TX	2.0	1.0	975	$1,100	$1.13	43d	1	0.66mi
538 Land O Lakes Dr Brownsville, TX	3.0	2.0	1421	$1,600	$1.13	43d	1	0.75mi
2025 Old Port Isabel Rd Brownsville, TX	2.0	1.0	865	$975	$1.13	21d	1	0.77mi
2021 Westminster Cir Brownsville, TX	2.0	2.0	1109	$1,300	$1.17	43d	1	0.81mi
2100 Old Port Isabel Rd Unit 22 Brownsville, TX	3.0	1.0	800	$900	$1.12	21d	1	0.83mi
2100 Old Port Isabel Rd Unit 22 Brownsville, TX	3.0	1.0	800	$900	$1.12	43d	1	0.83mi
2100 Old Port Isabel Rd Brownsville, TX	3.0	1.0	850	$700	$0.82	21d	1	0.83mi
605 Paredes Line Rd Brownsville, TX	2.0	1.5	900	$875	$0.97	43d	1	0.87mi
2700 Farm to Market Road 802 Brownsville, TX	1.0–3.0	1.0–2.0	990	$1,658	$1.67	13d	8	0.89mi
2834 Boardwalk Brownsville, TX	3.0	2.0	1314	$1,800	$1.37	21d	1	1.08mi
2888 Seville Blvd Brownsville, TX	3.0	2.0	1456	$1,650	$1.13	21d	1	1.09mi
328 Creekbend Dr Brownsville, TX	3.0	2.0	1451	$2,600	$1.79	21d	1	1.17mi
95 Poinciana Dr Brownsville, TX	2.0–3.0	2.0	1218	$1,500	$1.23	13d	2	1.32mi
95 Poinciana Dr Brownsville, TX	1.0–3.0	1.5–2.0	1130	$2,075	$1.84	43d	2	1.32mi
1617 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1179	$1,900	$1.61	21d	1	1.32mi
1618 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1073	$1,700	$1.58	43d	1	1.33mi
1604 Yale Ave Brownsville, TX	3.0	1.0	1316	$1,800	$1.37	21d	1	1.38mi
120 Galonsky St Unit G3 Brownsville, TX	2.0	2.5	1224	$1,325	$1.08	21d	1	1.47mi
50 Galonsky St Unit 3 Brownsville, TX	2.0	2.0	952	$1,100	$1.16	43d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $116,000 Active 125 DOM
2. 2026-06-17
   days on market $116,000 Active 124 DOM
3. 2026-06-16
   days on market $116,000 Active 123 DOM
4. 2026-06-15
   days on market $116,000 Active 122 DOM
5. 2026-06-14
   days on market $116,000 Active 120 DOM
6. 2026-06-13
   days on market $116,000 Active 119 DOM
7. 2026-06-10
   days on market $116,000 Active 117 DOM
8. 2026-06-09
   days on market $116,000 Active 116 DOM
9. 2026-06-08
   days on market $116,000 Active 115 DOM
10. 2026-06-07
    days on market $116,000 Active 114 DOM
11. 2026-06-05
    days on market $116,000 Active 111 DOM
12. 2026-06-03
    days on market $116,000 Active 110 DOM
13. 2026-06-02
    days on market $116,000 Active 109 DOM
14. 2026-06-01
    days on market $116,000 Active 108 DOM
15. 2026-05-31
    days on market $116,000 Active 107 DOM
16. 2026-05-30
    days on market $116,000 Active 106 DOM
17. 2026-04-29
    price $116,000 154-char remark

    Show marketing remark (154 chars)

    2 BEDROOM /1 . 5 BATH TWO-STORY CONDOMINIUM CONVENIENTLY LOCATED NEAR SCHOOLS AND SHOPPING CENTERS, WALMART AND HEB. REFRIGERATOR, STOVE CONVEY WITH SALE.

18. 2026-01-21
    listed $128,000 Active 154-char remark

    Show marketing remark (154 chars)

    2 BEDROOM /1 . 5 BATH TWO-STORY CONDOMINIUM CONVENIENTLY LOCATED NEAR SCHOOLS AND SHOPPING CENTERS, WALMART AND HEB. REFRIGERATOR, STOVE CONVEY WITH SALE.

ⓘ 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: $2,147 · $179/mo
• Projected year-2 tax: $2,147 · $179/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 6 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,409
• − Mortgage interest: −$6,498
• − Property taxes: −$2,147
• − Insurance: −$580
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$3,375
• Taxable income: $1,184
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $2,652/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: Brownsville ISD
• NCES district ID: 4811680
• Math proficiency: 20% ▼ -36.00%
• Reading proficiency: 34% ▼ -13.00%
• Median HH income: $30,490
• Composite: 21.8/100
• National rank: #8249
• State rank: #710 of 826 in TX

Livability — Brownsville

• Score: 79/100
• State rank: #62
• US rank: #2311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsville, TX
• County: Cameron County · 310,734 people
• City population: 212,132
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 87,380
• Household income: $44,509
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 2682.0

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 45% White 3%
• Hispanic origin (detail): Mexican 91%
• Foreign-born: 30% · Canada
• Languages at home: 12% English-only · Spanish 88%

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: ▼ -81.45%
• Current HPI: 232.1072
• Rent YoY: ▲ 8.19%
• 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

-9.4% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $116,000 RGVMLS
• 2026-01-21 Listed $128,000 RGVMLS

Property tax history

+8.6%/yr

Latest (2025): $2,147 · +9.2% YoY. Source: county tax records.