2304 Shidler Dr Apt 66 · Brownsville, TX 78521

$105,000

2 bd · 1.5 ba · 1,110 sqft · Townhouse · 82 Days on market

Built 1974 Fair condition $95/sqft · 22% below area Est $134k · 22% under

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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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located condominium, great for investors who like to remodel. 2 bed-11/2bath. HOA covers exterior maintenance. Parking space available.

Key facts

• Built 1974
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: amenities D, crime D-, employment F.
• 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.
• Zoned schools: Perez El (math 12% / reading 17%, grade F, #4,048 of 4,322 statewide, top 95%, 628 students, 96% FRL); Oliveira Middle (math 23% / reading 37%, grade F, #1,056 of 1,662 statewide, top 65%, 802 students, 94% FRL); Hanna Early College H S (math 24% / reading 49%, grade F, #924 of 1,632 statewide, top 57%, 2,246 students, 88% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 366 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $726 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.04%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $133,995
• List price: $105,000
• Delta: -21.64%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,473
• Equity at exit: $15,656

10-year hold

• IRR: 16.6%
• Equity multiple: 2.73×
• Total profit: $50,913
• Equity at exit: $9,078

Cash invested: $29,400 (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: 366
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $192

Break-even live

Break-even rent $1,111

Max offer price $105,000

Occupancy floor 81%

Sensitivity live

Price	-10% $264	-5% $228	+0% $192	+5% $156	+10% $119
Rent	-10% $85	-5% $138	+0% $192	+5% $245	+10% $299
Rate	-1.0pp $245	-0.5pp $219	base $192	+0.5pp $165	+1.0pp $137

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Paredes Line Rd Brownsville, TX	2.0	1.5	900	$875	$0.97	46d	1	0.17mi
2573 Rockwell Dr Unit 2E Brownsville, TX	2.0	1.0	875	$1,000	$1.14	23d	1	0.23mi
2573 Rockwell Dr Unit 1C Brownsville, TX	2.0	1.0	975	$1,100	$1.13	46d	1	0.23mi
2815 E Price Rd Unit 104 Brownsville, TX	2.0	2.5	1123	$1,350	$1.20	23d	1	0.60mi
1617 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1179	$1,900	$1.61	23d	1	0.67mi
1618 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1073	$1,700	$1.58	46d	1	0.67mi
16 Palmetto Ct Brownsville, TX	2.0	1.5	1024	$1,100	$1.07	23d	1	0.71mi
1604 Yale Ave Brownsville, TX	3.0	1.0	1316	$1,800	$1.37	23d	1	0.71mi
2D Palmetto Ct Unit 2D Brownsville, TX	3.0	2.0	1360	$1,450	$1.07	23d	1	0.73mi
3901 Las Palmas Cir Brownsville, TX	2.0	2.0	1208	$1,600	$1.32	23d	1	0.80mi
95 Poinciana Dr Brownsville, TX	2.0–3.0	2.0	1218	$1,500	$1.23	16d	2	0.89mi
95 Poinciana Dr Brownsville, TX	1.0–3.0	1.5–2.0	1130	$2,075	$1.84	46d	2	0.89mi
1405 Harvard Ave Brownsville, TX	3.0	2.0	1426	$1,700	$1.19	46d	1	0.89mi
801 Tropical Dr Unit 3 Brownsville, TX	2.0	1.5	1000	$1,500	$1.50	46d	1	0.95mi
2425 Barnard Rd Unit A-13 Brownsville, TX	2.0	2.0	1137	$1,250	$1.10	46d	1	1.16mi
2425 Barnard Rd Unit ujnit 1-A Brownsville, TX	3.0	1.5	1300	$1,600	$1.23	46d	1	1.16mi
2425 Barnard Rd Brownsville, TX	1.0–2.0	1.0–2.0	886	$1,165	$1.31	16d	12	1.16mi
538 Land O Lakes Dr Brownsville, TX	3.0	2.0	1421	$1,600	$1.13	46d	1	1.21mi
2700 Farm to Market Road 802 Brownsville, TX	1.0–3.0	1.0–2.0	990	$1,658	$1.67	16d	8	1.35mi
35 Cenizo Brownsville, TX	2.0	3.5	1404	$2,500	$1.78	46d	1	1.37mi
3500 Old Alice Rd Unit 1100 H Brownsville, TX	2.0	1.0	1005	$1,500	$1.49	46d	1	1.41mi
1904 Central Blvd Brownsville, TX	1.0–3.0	1.0–2.0	1046	$888	$0.85	46d	9	1.42mi
375 Media Luna Rd Brownsville, TX	1.0–3.0	1.0–2.0	940	$1,202	$1.28	16d	2	1.42mi
2025 Old Port Isabel Rd Brownsville, TX	2.0	1.0	865	$975	$1.13	23d	1	1.47mi
835 E Taylor St Unit B Brownsville, TX	3.0	2.0	1150	$1,550	$1.35	46d	1	1.47mi

Listing history 18 events

1. 2026-06-22
   days on market $105,000 Active 82 DOM
2. 2026-06-18
   days on market $105,000 Active 79 DOM
3. 2026-06-17
   days on market $105,000 Active 78 DOM
4. 2026-06-16
   days on market $105,000 Active 77 DOM
5. 2026-06-15
   days on market $105,000 Active 76 DOM
6. 2026-06-14
   days on market $105,000 Active 74 DOM
7. 2026-06-13
   days on market $105,000 Active 73 DOM
8. 2026-06-10
   days on market $105,000 Active 71 DOM
9. 2026-06-09
   days on market $105,000 Active 70 DOM
10. 2026-06-08
    days on market $105,000 Active 69 DOM
11. 2026-06-07
    days on market $105,000 Active 68 DOM
12. 2026-06-05
    days on market $105,000 Active 65 DOM
13. 2026-06-03
    days on market $105,000 Active 64 DOM
14. 2026-06-02
    days on market $105,000 Active 63 DOM
15. 2026-06-01
    days on market $105,000 Active 62 DOM
16. 2026-05-31
    days on market $105,000 Active 61 DOM
17. 2026-05-30
    days on market $105,000 Active 60 DOM
18. 2026-03-31
    listed $105,000 Active 145-char remark

    Show marketing remark (145 chars)

    Centrally located condominium, great for investors who like to remodel. 2 bed-11/2bath. HOA covers exterior maintenance. Parking space available.

ⓘ 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 FEMA zone AH · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 25 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: $16,246
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$2,350
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$3,055
• Taxable income: $786
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $2,114/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 · 9 photos

Fair 45/100 Moderate rehab

This multi-family unit requires moderate renovations to improve its curb appeal and functionality, with a focus on painting, updating cabinets, and repairing exterior siding.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — standard fixtures
• Minor exterior siding — some wear

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — Modern cabinets improve functionality and aesthetics
• Both repair exterior siding — Fresh siding improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
exterior siding · some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
• Both repair exterior siding — Fresh siding improves curb appeal and structural integrity ↑

ⓘ 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: 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

1 event — show timeline

• 2026-03-31 Listed $105,000 RGVMLS