1618 S Parkwood Dr · Harlingen, TX 78550

$110,000

3 bd · 3.0 ba · 2,921 sqft · SingleFamily public records · 1 Days on market

Built 1952 0.56 ac lot Est $187k · 41% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 1618 S. Parkwood Dr in Harlingen, TX. This distressed property is perfect for investors or buyers looking to renovate and add value. With solid potential and a desirable location, this home is ready for transformation. Being sold as-is—bring your vision and make it your own.

Key facts

• 0.56 acre lot
• 2 garage spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.4% 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-, commute F, employment 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.
• Zoned schools: Houston El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 467 students, 90% FRL); Vernon Middle (math 20% / reading 31%, grade F, #1,236 of 1,662 statewide, top 76%, 715 students, 90% FRL); Harlingen H S (math 32% / reading 22%, grade F, #1,204 of 1,632 statewide, top 75%, 1,942 students, 82% FRL).
• Market conditions: Rents rising (+3.5%/yr); 465 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• This rent runs 35% of the median local income ($49k/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 $761 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 + 3.5% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• 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 $110,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.31% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $186,944
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 E Pierce St	0.43mi	4/3.0 (+1)	2,722 (-7%)	22mo	$175,000	$64	45

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 · 3.45% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,885
• Equity at exit: $16,401

10-year hold

• IRR: 15.5%
• Equity multiple: 2.29×
• Total profit: $39,741
• Equity at exit: $9,511

Cash invested: $30,800 (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: $1,440 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $377

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 69%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2821 Lotus St Harlingen, TX	3.0	2.0	1946	$1,900	$0.98	43d	1	1.00mi

Listing history 14 events

1. 2026-03-26
   status Pending 303-char remark

   Show marketing remark (303 chars)

   Opportunity awaits at 1618 S. Parkwood Dr in Harlingen, TX. This distressed property is perfect for investors or buyers looking to renovate and add value. With solid potential and a desirable location, this home is ready for transformation. Being sold as-is—bring your vision and make it your own.

2. 2026-03-25
   status Pending
3. 2026-03-24
   listed Active Under Contract 303-char remark

   Show marketing remark (303 chars)

   Opportunity awaits at 1618 S. Parkwood Dr in Harlingen, TX. This distressed property is perfect for investors or buyers looking to renovate and add value. With solid potential and a desirable location, this home is ready for transformation. Being sold as-is—bring your vision and make it your own.

4. 2026-03-24
   listed $110,000 303-char remark

   Show marketing remark (303 chars)

   Opportunity awaits at 1618 S. Parkwood Dr in Harlingen, TX. This distressed property is perfect for investors or buyers looking to renovate and add value. With solid potential and a desirable location, this home is ready for transformation. Being sold as-is—bring your vision and make it your own.

5. 2026-03-23
   listed $110,000 Active
6. 2024-09-09
   soldstatus
7. 2024-06-01
   price $359,000
8. 2024-05-15
   price $360,000
9. 2024-01-11
   price $354,800
10. 2023-12-11
    price $359,800
11. 2021-10-29
    soldstatus
12. 2021-03-16
    soldstatus
13. 2020-12-04
    soldstatus
14. 2020-07-23
    soldstatus

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $17,279
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$3,200
• Taxable income: $2,952
• Est. tax owed @ 24.0%: −$709
• After-tax cash flow: $3,819/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: 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

-69.4% since first listed

14 events — show timeline

• 2026-03-26 Pending — RGVMLS
• 2026-03-25 Pending — MCALLENMLS
• 2026-03-24 Listed $110,000 RGVMLS
• 2026-03-24 Listed — RGVMLS
• 2026-03-23 Listed $110,000 MCALLENMLS
• 2024-09-09 Sold (Public Records) — Public Records
• 2024-06-01 Price Changed $359,000 RGVMLS
• 2024-05-15 Price Changed $360,000 RGVMLS
• 2024-01-11 Price Changed $354,800 RGVMLS
• 2023-12-11 Price Changed $359,800 RGVMLS
• 2021-10-29 Sold (Public Records) — Public Records
• 2021-03-16 Sold (Public Records) — Public Records
• 2020-12-04 Sold (Public Records) — Public Records
• 2020-07-23 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $5,953 · -3.3% YoY. Source: county tax records.