1320 Logan Dr

Weslaco, TX 78596

$215,000C+

3 bd · 3.0 ba · 1,680 sqft · Built 2024 · Manufactured · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,800/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$588
• Net cashflow: $869/mo
• Annual: $10,423/yr
• Cap rate: 11.14%
• Cash-on-cash: 17.31%
• DSCR: 1.77
• 1% rule: 1.30%
• Cash to close: $60,200

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $215k. Condition is rated average.
• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• It's been on market 100 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• In year one you build about $230 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 72/100 on livability (#277 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 708 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 11.1% vs local median 4.1% in Weslaco — 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.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Light wear and tear
• Minor: Bathroom tiles — Some tiles show signs of wear
• Minor: Exterior siding — Some areas show wear
• Minor: Flooring — Worn in some areas
• Minor: Paint — Chipped in some areas
• Minor: Windows — Frames show wear