2721 Quail Run #5 · Harlingen, TX 78550

$79,900

2 bd · 1.0 ba · 780 sqft · Condo · 14 Days on market

Built 1982 Good condition

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Light and bright 2-bedroom, 1-bath condo located in Treasure Hills. This beautifully updated second-floor unit offers a modern feel throughout, with all appliances conveying. Enjoy a large private balcony, assigned parking, and truly low-maintenance living, featuring a 2-year-old A/C system and a 2-year-old roof for added peace of mind. Ideal for owner-occupants or as an investment property. The HOA fee includes water, sewer, trash, and exterior maintenance. Conveniently located near Treasure Hills Elementary, UTRGV, hospitals, medical facilities, and dining. A great opportunity in a well-established Harlingen community.

Key facts

• Private balcony
• Assigned parking
• Conveniently located

Tags

• PRIVATE BALCONY
• ASSIGNED PARKING
• LOW MAINTENANCE LIVING
• CONVENIENTLY LOCATED
• WELL ESTABLISHED COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 10.3% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 3.5% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $4,452
• Equity at exit: $11,913

10-year hold

• IRR: 15.0%
• Equity multiple: 2.24×
• Total profit: $27,667
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,035 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $266

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 69%

Sensitivity live

Price	-10% $321	-5% $293	+0% $266	+5% $238	+10% $210
Rent	-10% $184	-5% $225	+0% $266	+5% $306	+10% $347
Rate	-1.0pp $306	-0.5pp $286	base $266	+0.5pp $245	+1.0pp $224

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2805 Treasure Hills Blvd Unit 1 Harlingen, TX	2.0	1.0	1100	$900	$0.82	22d	1	0.05mi
2906 Treasure Hills Blvd Unit D Harlingen, TX	2.0	1.0	1100	$925	$0.84	44d	1	0.12mi
2906 Treasure Hills Blvd Unit D Harlingen, TX	2.0	1.0	1100	$950	$0.86	22d	1	0.12mi
2901 Haine Dr Harlingen, TX	3.0	2.0	1111	$1,389	$1.25	14d	1	0.37mi
2020 S 23rd St Harlingen, TX	3.0	1.0	961	$1,200	$1.25	22d	1	0.38mi
1802 Bobcat Ln Harlingen, TX	3.0	2.0	1100	$1,450	$1.32	14d	1	0.38mi
2901 Haine Dr Apt 108 Harlingen, TX	2.0	1.5	858	$1,129	$1.32	14d	1	0.42mi
2218 Bell St Unit 14 Harlingen, TX	1.0	1.0	620	$625	$1.01	44d	1	0.61mi
2218 Bell St Apt 15 Harlingen, TX	1.0	1.0	620	$625	$1.01	22d	1	0.61mi
1810 Atrium Place Dr Unit 12 Harlingen, TX	2.0	1.0	788	$1,100	$1.40	44d	1	0.64mi
1802 Atrium Place Dr Unit 3 Harlingen, TX	3.0	2.0	1068	$1,400	$1.31	44d	1	0.66mi
1802 Atrium Place Dr Unit 11 Harlingen, TX	2.0	1.0	817	$1,150	$1.41	44d	1	0.66mi
1809 Atrium Place Dr Unit 3 Harlingen, TX	2.0	2.0	950	$1,250	$1.32	44d	1	0.71mi
1801 Atrium Place Dr Unit 12 Harlingen, TX	2.0	2.0	1100	$1,295	$1.18	14d	1	0.72mi
1801 Atrium Place Dr Unit 17 Harlingen, TX	2.0	2.0	1100	$1,335	$1.21	44d	1	0.72mi
1608 Sam Houston Dr Harlingen, TX	1.0–2.0	1.0–2.0	790	$839	$1.06	14d	11	0.74mi
902 S Loop 499 Harlingen, TX	1.0–2.0	1.0–2.5	971	$995	$1.02	14d	16	0.87mi
1402 Vermont Harlingen, TX	2.0	2.0	834	$1,050	$1.26	14d	1	0.89mi
1402 Vermont Unit 3 Harlingen, TX	3.0	2.0	1016	$1,200	$1.18	14d	1	0.93mi
2712 E Harrison Ave Unit 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	44d	1	0.95mi
2712 E Harrison Ave Unit 3 Harlingen, TX	2.0	2.0	908	$1,075	$1.18	22d	1	0.95mi
2712 E Harrison Ave Unit 3 Harlingen, TX	2.0	2.0	908	$1,075	$1.18	44d	1	0.95mi
2708 E Harrison Ave Unit 2 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	44d	1	0.96mi
2708 E Harrison Ave Unit 1 Harlingen, TX	2.0	2.0	998	$1,075	$1.08	44d	1	0.96mi
2708 E Harrison Ave Unit 3 Harlingen, TX	2.0	2.0	908	$1,075	$1.18	22d	1	0.96mi
2612 E Harrison Ave Unit 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	44d	1	0.98mi
2809 E Harrison Ave Unit 2 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	44d	1	0.99mi
2805 E Harrison Ave Apt 3 Harlingen, TX	2.0	2.0	908	$1,075	$1.18	14d	1	0.99mi
2805 E Harrison Ave Apt 4 Harlingen, TX	3.0	2.0	1118	$1,225	$1.10	22d	1	0.99mi
1501 Sam Houston Dr Apt 6H Harlingen, TX	2.0	1.5	1015	$775	$0.76	44d	1	1.06mi
1501 Sam Houston Dr Harlingen, TX	1.0	1.0	752	$650	$0.86	44d	1	1.07mi
1501 Sam Houston Dr Harlingen, TX	1.0	1.0	752	$650	$0.86	14d	1	1.07mi
1902 E Tyler Ave Harlingen, TX	2.0–3.0	1.0–2.0	1007	$903	$0.90	14d	6	1.08mi
4402 Glasscock Ave Harlingen, TX	2.0	2.0	845	$895	$1.06	44d	1	1.10mi
1722 Stone Dr Unit 2 Harlingen, TX	2.0	2.5	1100	$1,000	$0.91	44d	1	1.14mi
504 Rock Cir Unit 1 Harlingen, TX	2.0	1.5	1050	$925	$0.88	22d	1	1.20mi
2002 E Van Buren Ave Harlingen, TX	2.0	1.0	1062	$1,150	$1.08	22d	1	1.24mi
3936 Bourbon St Harlingen, TX	2.0	2.0	880	$750	$0.85	22d	1	1.35mi
602 Scotch St Unit 16 Harlingen, TX	2.0	1.0	900	$600	$0.67	22d	1	1.41mi
602 Scotch St Unit 8 Harlingen, TX	2.0	1.0	900	$650	$0.72	44d	1	1.41mi

HOA detail condo

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

Listing history 4 events

1. 2026-06-01
   statusdays on market $79,900 Pending 14 DOM
2. 2026-04-30
   status Active 628-char remark

   Show marketing remark (628 chars)

   Light and bright 2-bedroom, 1-bath condo located in Treasure Hills. This beautifully updated second-floor unit offers a modern feel throughout, with all appliances conveying. Enjoy a large private balcony, assigned parking, and truly low-maintenance living, featuring a 2-year-old A/C system and a 2-year-old roof for added peace of mind. Ideal for owner-occupants or as an investment property. The HOA fee includes water, sewer, trash, and exterior maintenance. Conveniently located near Treasure Hills Elementary, UTRGV, hospitals, medical facilities, and dining. A great opportunity in a well-established Harlingen community.

3. 2026-02-10
   status Pending 628-char remark

   Show marketing remark (628 chars)

   Light and bright 2-bedroom, 1-bath condo located in Treasure Hills. This beautifully updated second-floor unit offers a modern feel throughout, with all appliances conveying. Enjoy a large private balcony, assigned parking, and truly low-maintenance living, featuring a 2-year-old A/C system and a 2-year-old roof for added peace of mind. Ideal for owner-occupants or as an investment property. The HOA fee includes water, sewer, trash, and exterior maintenance. Conveniently located near Treasure Hills Elementary, UTRGV, hospitals, medical facilities, and dining. A great opportunity in a well-established Harlingen community.

4. 2026-01-19
   listed $79,900 Active 628-char remark

   Show marketing remark (628 chars)

   Light and bright 2-bedroom, 1-bath condo located in Treasure Hills. This beautifully updated second-floor unit offers a modern feel throughout, with all appliances conveying. Enjoy a large private balcony, assigned parking, and truly low-maintenance living, featuring a 2-year-old A/C system and a 2-year-old roof for added peace of mind. Ideal for owner-occupants or as an investment property. The HOA fee includes water, sewer, trash, and exterior maintenance. Conveniently located near Treasure Hills Elementary, UTRGV, hospitals, medical facilities, and dining. A great opportunity in a well-established Harlingen community.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $12,421
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$2,324
• Taxable income: $2,036
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,698/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 · 10 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated condo is move-in ready with modern finishes and a fresh exterior. Potential buyers and renters will appreciate the energy-efficient updates and curb appeal.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace blinds with energy-efficient shades — Improves energy efficiency and aesthetics
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace blinds with energy-efficient shades — Improves energy efficiency and aesthetics ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: 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

3 events — show timeline

• 2026-04-30 Relisted — RGVMLS
• 2026-02-10 Pending — RGVMLS
• 2026-01-19 Listed $79,900 RGVMLS