709 E Palmera Dr · La Feria, TX 78559

$69,900

2 bd · 1.5 ba · 784 sqft · SingleFamily public records · 185 Days on market

Built 1986 5,000 sqft lot $89/sqft · 23% above area Est $57k · 23% over ↓ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 709 E Palmera Drive in La Feria, Texas, located in the desirable 55+ Palmera Heights community. This well-maintained 1986 mobile home offers 2 bedrooms and 1.5 baths and is fully furnished and move-in ready. The open-concept layout features a spacious kitchen and comfortable living area. All appliances are included, including washer and dryer, refrigerator, microwave, stove, and electric range. Enjoy your mornings on the covered patio and deck, and appreciate the peace of mind that comes with hurricane shutters. The fully fenced yard is perfect for pets, and the 812 workshop/storage shed with power adds extra convenience. Comfortable, easy living in a quiet, well-kept community—this one is ready to enjoy from day one.

Key facts

• Hurricane shutters
• Covered patio
• Fully fenced yard

Tags

• PALMERA HEIGHTS COMMUNITY
• OPEN-CONCEPT LAYOUT
• COVERED PATIO
• HURRICANE SHUTTERS
• FULLY FENCED YARD
• WORKSHOP STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 4.4% in La Feria — 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 65/100 on livability (#667 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• La Feria ISD (suburban): math 27% / reading 35% proficiency, ranked #630 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $483 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 + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.54% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.09%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (median comp): $56,843
• List price: $69,900
• Delta: 31.94%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 7th St	0.40mi	2/1.0	850 (+8%)	16mo	$145,000	$171	52

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: 13.6%
• Equity multiple: 1.54×
• Total profit: $10,616
• Equity at exit: $10,422

10-year hold

• IRR: 22.4%
• Equity multiple: 2.92×
• Total profit: $37,588
• Equity at exit: $6,044

Cash invested: $19,572 (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 78559

• Home prices YoY: -6.1%
• Active inventory: 260
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,079 high
• Mortgage (P&I): −$367
• Tax from tax record: −$113 /mo · $1,357/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $344

Break-even live

Break-even rent $644

Max offer price $69,900

Occupancy floor 63%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 6th St Unit A La Feria, TX	2.0	2.0	926	$1,000	$1.08	21d	1	0.30mi
405 Lion's Villa Ave Unit 15 La Feria, TX	2.0	1.5	992	$999	$1.01	13d	1	0.48mi
300 Cub Cir Unit 2 La Feria, TX	2.0	1.5	966	$1,050	$1.09	43d	1	0.64mi
200 Cub Cir La Feria, TX	2.0	1.5	966	$1,024	$1.06	13d	1	0.67mi
2328 S Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,100	$1.15	43d	1	1.06mi
2114 E Valley Cir Unit B La Feria, TX	2.0	2.0	954	$1,100	$1.15	13d	1	1.09mi
2332 S Valley Cir Unit A La Feria, TX	2.0	2.0	954	$1,000	$1.05	13d	1	1.12mi
2225 S Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	43d	1	1.13mi
2429 Summit Rd Unit B La Feria, TX	2.0	2.0	965	$1,150	$1.19	21d	1	1.17mi
2228 N Valley Cir Unit A La Feria, TX	3.0	2.0	980	$1,225	$1.25	13d	1	1.17mi
2226 N Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	43d	1	1.17mi
2326 N Valley Cir Unit B La Feria, TX	3.0	2.0	980	$1,225	$1.25	43d	1	1.18mi
2526 N Valley Cir Unit A La Feria, TX	2.0	2.0	786	$1,125	$1.43	43d	1	1.22mi

Listing history 31 events

1. 2026-06-18
   days on market $69,900 Active 185 DOM
2. 2026-06-17
   days on market $69,900 Active 184 DOM
3. 2026-06-16
   days on market $69,900 Active 183 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   pricedays on marketlisting id $69,900 Active 182 DOM
6. 2026-06-15
   days on market $74,999 Active 180 DOM
7. 2026-06-14
   days on market $74,999 Active 178 DOM
8. 2026-06-13
   days on market $74,999 Active 177 DOM
9. 2026-06-10
   days on market $74,999 Active 175 DOM
10. 2026-06-09
    days on market $74,999 Active 174 DOM
11. 2026-06-08
    days on market $74,999 Active 173 DOM
12. 2026-06-07
    days on market $74,999 Active 172 DOM
13. 2026-06-03
    days on market $74,999 Active 168 DOM
14. 2026-06-02
    days on market $74,999 Active 167 DOM
15. 2026-06-01
    days on market $74,999 Active 166 DOM
16. 2026-05-31
    days on market $74,999 Active 165 DOM
17. 2026-05-30
    days on market $74,999 Active 164 DOM
18. 2026-05-09
    price $69,900 744-char remark

    Show marketing remark (744 chars)

    Welcome to 709 E Palmera Drive in La Feria, Texas, located in the desirable 55+ Palmera Heights community. This well-maintained 1986 mobile home offers 2 bedrooms and 1.5 baths and is fully furnished and move-in ready. The open-concept layout features a spacious kitchen and comfortable living area. All appliances are included, including washer and dryer, refrigerator, microwave, stove, and electric range. Enjoy your mornings on the covered patio and deck, and appreciate the peace of mind that comes with hurricane shutters. The fully fenced yard is perfect for pets, and the 812 workshop/storage shed with power adds extra convenience. Comfortable, easy living in a quiet, well-kept community—this one is ready to enjoy from day one.

19. 2026-03-05
    price $71,900 744-char remark

    Show marketing remark (744 chars)

    Welcome to 709 E Palmera Drive in La Feria, Texas, located in the desirable 55+ Palmera Heights community. This well-maintained 1986 mobile home offers 2 bedrooms and 1.5 baths and is fully furnished and move-in ready. The open-concept layout features a spacious kitchen and comfortable living area. All appliances are included, including washer and dryer, refrigerator, microwave, stove, and electric range. Enjoy your mornings on the covered patio and deck, and appreciate the peace of mind that comes with hurricane shutters. The fully fenced yard is perfect for pets, and the 812 workshop/storage shed with power adds extra convenience. Comfortable, easy living in a quiet, well-kept community—this one is ready to enjoy from day one.

20. 2025-12-17
    listed $74,999 Active 754-char remark

    Show marketing remark (754 chars)

    Discover comfortable living in the sought-after 55+ community of Palmera Heights, La Feria. This well-maintained 2-bedroom, 1.5-bath mobile home offers an inviting open-concept layout with ample natural light and a sense of spaciousness. The property boasts a fully fenced yard, perfect for pets, and an 8x12 workshop shed for added convenience and additional storage room. Inside, you’ll find an indoor laundry area with a washer and dryer, which are included along with all appliances and most furnishings. Enjoy outdoor relaxation on the attached covered patio or deck, and take advantage of a carport to keep your vehicle shaded. This home has Hurricane shutters and is ready for you to move in and start enjoying the perks of community living!

21. 2025-12-16
    listed $74,999 Active 744-char remark

    Show marketing remark (744 chars)

    Welcome to 709 E Palmera Drive in La Feria, Texas, located in the desirable 55+ Palmera Heights community. This well-maintained 1986 mobile home offers 2 bedrooms and 1.5 baths and is fully furnished and move-in ready. The open-concept layout features a spacious kitchen and comfortable living area. All appliances are included, including washer and dryer, refrigerator, microwave, stove, and electric range. Enjoy your mornings on the covered patio and deck, and appreciate the peace of mind that comes with hurricane shutters. The fully fenced yard is perfect for pets, and the 812 workshop/storage shed with power adds extra convenience. Comfortable, easy living in a quiet, well-kept community—this one is ready to enjoy from day one.

22. 2025-01-31
    soldstatus Closed
23. 2025-01-31
    soldstatus Sold
24. 2025-01-31
    soldstatus
25. 2025-01-20
    status Pending
26. 2025-01-12
    status Pending
27. 2025-01-04
    historical Option
28. 2024-11-07
    listed $71,000 Active
29. 2024-11-06
    listed $71,000 Active
30. 2011-11-03
    soldstatus
31. 1994-03-01
    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: $1,357 · $113/mo
• Projected year-2 tax: $1,357 · $113/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 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: $12,954
• − Mortgage interest: −$3,915
• − Property taxes: −$1,357
• − Insurance: −$350
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$2,033
• Taxable income: $3,226
• Est. tax owed @ 24.0%: −$774
• After-tax cash flow: $3,354/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: La Feria ISD
• NCES district ID: 4826040
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 35% ▼ -4.00%
• Median HH income: $33,306
• Composite: 25.41/100
• National rank: #7460
• State rank: #630 of 826 in TX

Livability — La Feria

• Score: 65/100
• State rank: #667
• US rank: #12330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Feria, TX
• Population (ZIP): 12,752

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 (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 35% White 8%
• Hispanic origin (detail): Mexican 87%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 40% English-only · Spanish 60%

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: ▼ -12.21%
• Current HPI: 187.8512
• Rent YoY: —
• Metro: —
• 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

-1.5% since first listed

14 events — show timeline

• 2026-05-09 Price Changed $69,900 RGVMLS
• 2026-03-05 Price Changed $71,900 RGVMLS
• 2025-12-17 Listed $74,999 MCALLENMLS
• 2025-12-16 Listed $74,999 RGVMLS
• 2025-01-31 Sold (Public Records) — Public Records
• 2025-01-31 Sold (MLS) — MCALLENMLS
• 2025-01-31 Sold (MLS) — RGVMLS
• 2025-01-20 Pending — RGVMLS
• 2025-01-12 Pending — MCALLENMLS
• 2025-01-04 Contingent — MCALLENMLS
• 2024-11-07 Listed $71,000 MCALLENMLS
• 2024-11-06 Listed $71,000 RGVMLS
• 2011-11-03 Sold (Public Records) — Public Records
• 1994-03-01 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,357 · +20.0% YoY. Source: county tax records.