815 San Miguel St

North Alamo, TX 78589

$100,000B-

3 bd · 1.0 ba · 1,353 sqft · Built 2010 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,493/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $423/mo
• Annual: $5,070/yr
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• 1% rule: 1.49%
• Cash to close: $28,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#941 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Pharr-San Juan-Alamo ISD (suburban): math 18% / reading 30% proficiency, ranked #740 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sgt Leonel Trevino El (math 12% / reading 17%, grade F, #4,048 of 4,322 statewide, top 95%, 431 students, 96% FRL); Audie Murphy Middle (math 13% / reading 22%, grade F, #1,507 of 1,662 statewide, top 91%, 787 students, 95% FRL); Psja Memorial Early College H S (math 20% / reading 31%, grade F, #1,246 of 1,632 statewide, top 77%, 1,860 students, 94% FRL) — zoned schools average 95% FRL vs 72% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 362 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.