5704 Puffin Ave · McAllen, TX 78573

$524,900

None bd · None ba · 4,372 sqft · MultiFamily · 205 Days on market

Built 2021 Excellent condition 10,623 sqft lot $120/sqft · at area comps Est $526k · at est. $52/mo HOA · 4% of rent ↓ 2% 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 +12.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.6/15.0
• Condition / age +4.8/5.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• DSCR +3.6/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0

Multi-family units

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

Listing remarks MLS

Don’t miss this standout investment opportunity! This impressive FourPlex offers incredible income potential with three units already rented and the fourth operating successfully as an Airbnb. (FURNITURE NOT INCLUDED) The property includes two spacious 3 bedroom, 2 bath units and two modern 2 bedroom, 2 bath units perfect for both investors and owner occupants. Each unit features a contemporary layout with bright, open living spaces that attract long-term tenants and short term guests alike. Located in a high demand area, this move in ready property is primed for exceptional cash flow from day one. Whether you choose to live in one unit, continue the Airbnb, or fully maximize rental income, this is a rare chance you won’t want to miss.

Key facts

• High demand area
• Move in ready
• 0.24 acre lot

Tags

• HIGH DEMAND AREA
• MOVE IN READY
• EXCEPTIONAL CASH FLOW

What this means for you Summary

Snapshot

• This is a 2×3bd/2ba + 2×2bd/2ba units multifamily listed at $525k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative. Per door: $-29/mo.
• To cash-flow at today's rent, offer at most $508k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $451k (14.1% below list).
• Recommended offer: $451k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% in McAllen — 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 76/100 on livability (#119 in TX, #3,771 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Sharyland ISD (urban): math 34% / reading 44% proficiency, ranked #406 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 623 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% 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).
• At $4,511/mo this rent would consume 98% of the median local household income ($55k/yr) (locally 855% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $56k of equity ($4k loan paydown + $52k appreciation (10.0% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$90k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($462k) 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: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $451,100 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.86% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• GRM: 9.7

CMA / ARV

• ARV (median comp): $526,135
• List price: $524,900
• Delta: -0.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5805 Puffin Ave	0.05mi	—/—	4,372 (0%)	17mo	$530,000	$121	84
5600 Sandpiper Ave	0.17mi	—/—	4,166 (-5%)	3mo	$475,000	$114	82
5609 Sandpiper Ave	0.14mi	—/—	4,312 (-1%)	15mo	$530,000	$123	79
5905 Nightingale Ave	0.24mi	—/—	4,276 (-2%)	10mo	$529,900	$124	77
5901 Nightingale Ave	0.23mi	—/—	4,452 (+2%)	15mo	$525,000	$118	74
5904 Sandpiper Ave	0.20mi	—/—	4,038 (-8%)	22mo	$547,000	$135	60
1417 S Xanthia St	0.68mi	—/—	4,216 (-4%)	6mo	$489,000	$116	58
7806 N 58th Ln	0.25mi	—/—	4,050 (-7%)	22mo	$520,000	$128	58
1300 S Yankton St	0.56mi	—/—	4,054 (-7%)	7mo	$478,000	$118	56
1221 S Yankton	0.58mi	—/—	4,029 (-8%)	8mo	$479,000	$119	54
1220 S Xanthia St	0.61mi	—/—	4,029 (-8%)	8mo	$479,000	$119	52
1412 S Yankton St	0.60mi	—/—	4,054 (-7%)	18mo	$498,000	$123	45

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

Projected returns pro-forma

10.0% appreciation · 2.45% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.88×
• Total profit: $276,118
• Equity at exit: $472,872

10-year hold

• IRR: 20.7%
• Equity multiple: 6.54×
• Total profit: $814,193
• Equity at exit: $1,019,765

Cash invested: $146,972 (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 78573

• Home prices YoY: 8.0%
• Rents YoY: 2.5%
• Active inventory: 623
• Price-to-rent: 37.8×

Monthly cashflow live

• Estimated rent: $4,511 high
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,874/yr
• Insurance: −$219
• HOA: −$52
• Vacancy / Maint / Mgmt: −$947
• Net cashflow: $-116

Break-even live

Break-even rent $4,658

Max offer price $508,147

Occupancy floor 98%

Sensitivity live

Price	-10% $247	-5% $66	+0% $-116	+5% $-297	+10% $-479
Rent	-10% $-472	-5% $-294	+0% $-116	+5% $62	+10% $241
Rate	-1.0pp $149	-0.5pp $18	base $-116	+0.5pp $-252	+1.0pp $-390

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,316
▸ 2× units	2	2	$2,196
Total (4 units)			$4,511

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: $131,225
• Closing costs: $15,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5704 Puffin Ave Unit 4 Palmhurst, TX	2.0	2.0	4372	$1,050	$0.24	44d	1	0.03mi
2904 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	44d	1	0.96mi
1100 S Stewart Blvd Alton, TX	2.0	1.0	3991	$959	$0.24	44d	1	1.04mi
2703 E Garfield Ave Unit A Alton, TX	3.0	2.0	4088	$950	$0.23	24d	1	1.06mi
2612 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	44d	1	1.07mi
2601 E Garfield Ave Unit 2 Alton, TX	2.0	2.0	4292	$975	$0.23	44d	1	1.10mi
3608 Jay Ct Unit A McAllen, TX	2.0	2.0	4340	$1,100	$0.25	44d	1	1.43mi
5709 Notre Dame Ave Unit 1 Mission, TX	2.0	2.0	4162	$1,150	$0.28	44d	1	1.47mi

HOA detail

• Monthly dues: $52 · $624/yr

Listing history 17 events

1. 2026-06-18
   days on market $524,900 Active 205 DOM
2. 2026-06-17
   days on market $524,900 Active 204 DOM
3. 2026-06-16
   days on market $524,900 Active 203 DOM
4. 2026-06-15
   days on market $524,900 Active 202 DOM
5. 2026-06-14
   days on market $524,900 Active 200 DOM
6. 2026-06-10
   days on market $524,900 Active 197 DOM
7. 2026-06-09
   days on market $524,900 Active 196 DOM
8. 2026-06-08
   days on market $524,900 Active 195 DOM
9. 2026-06-07
   days on market $524,900 Active 194 DOM
10. 2026-06-03
    days on market $524,900 Active 190 DOM
11. 2026-06-02
    days on market $524,900 Active 189 DOM
12. 2026-06-01
    days on market $524,900 Active 188 DOM
13. 2026-05-31
    days on market $524,900 Active 187 DOM
14. 2026-05-31
    days on market $524,900 Active 186 DOM
15. 2026-01-29
    price $524,900 757-char remark

    Show marketing remark (757 chars)

    Don’t miss this standout investment opportunity! This impressive FourPlex offers incredible income potential with three units already rented and the fourth operating successfully as an Airbnb. (FURNITURE NOT INCLUDED) The property includes two spacious 3 bedroom, 2 bath units and two modern 2 bedroom, 2 bath units perfect for both investors and owner occupants. Each unit features a contemporary layout with bright, open living spaces that attract long-term tenants and short term guests alike. Located in a high demand area, this move in ready property is primed for exceptional cash flow from day one. Whether you choose to live in one unit, continue the Airbnb, or fully maximize rental income, this is a rare chance you won’t want to miss.

16. 2025-11-25
    listed $529,500 Active 757-char remark

    Show marketing remark (757 chars)

    Don’t miss this standout investment opportunity! This impressive FourPlex offers incredible income potential with three units already rented and the fourth operating successfully as an Airbnb. (FURNITURE NOT INCLUDED) The property includes two spacious 3 bedroom, 2 bath units and two modern 2 bedroom, 2 bath units perfect for both investors and owner occupants. Each unit features a contemporary layout with bright, open living spaces that attract long-term tenants and short term guests alike. Located in a high demand area, this move in ready property is primed for exceptional cash flow from day one. Whether you choose to live in one unit, continue the Airbnb, or fully maximize rental income, this is a rare chance you won’t want to miss.

17. 2025-03-03
    listed $535,000 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 6/10 Major 71% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,132
• − Mortgage interest: −$29,403
• − Property taxes: −$7,874
• − Insurance: −$2,624
• − Repairs & maintenance: −$4,331
• − Management: −$4,331
• − HOA: −$624
• − Depreciation: −$15,270
• Taxable loss: −$10,323
• Est. tax savings @ 24.0%: +$2,478
• After-tax cash flow: $1,088/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 · 11 photos

Excellent 95/100 None rehab

This move-in ready fourplex is in excellent condition with modern finishes and a well-maintained exterior. It offers a great investment opportunity with three units already rented and the fourth operating as an Airbnb.

Value-add opportunities

• Both Furniture — Furniture enhances the living spaces and makes the property more attractive to potential buyers and renters.
• Both Landscaping — Enhanced landscaping can improve curb appeal and attract more tenants.
• Both Decor — Adding decor can make the living spaces more inviting and appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Furniture — Furniture enhances the living spaces and makes the property more attractive to potential buyers and renters. ↑
• Both Landscaping — Enhanced landscaping can improve curb appeal and attract more tenants. ↑
• Both Decor — Adding decor can make the living spaces more inviting and appealing to potential buyers and renters. ↑

ⓘ 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: Sharyland ISD
• NCES district ID: 4839930
• Math proficiency: 34% ▼ -35.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $57,792
• Composite: 34.38/100
• National rank: #5214
• State rank: #406 of 826 in TX

Livability — McAllen

• Score: 76/100
• State rank: #119
• US rank: #3771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McAllen, TX
• County: Hidalgo County · 623,128 people
• City population: 144,650
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 44,809
• Household income: $55,000
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 855.0

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 63% White 3%
• Hispanic origin (detail): Mexican 94%
• Foreign-born: 28% · Canada
• Languages at home: 12% English-only · Spanish 88%

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: ▲ 17.95%
• Current HPI: 242.0711
• Rent YoY: ▲ 2.45%
• 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

-1.9% since first listed

3 events — show timeline

• 2026-01-29 Price Changed $524,900 MCALLENMLS
• 2025-11-25 Listed $529,500 MCALLENMLS
• 2025-03-03 Listed $535,000 MCALLENMLS