1624 Grovewood Rd · Palmhurst, TX 78573

$195,000

3 bd · 2.0 ba · 1,540 sqft · Manufactured public records · 17 Days on market

Built 1985 0.50 ac lot

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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 +18.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.7/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to peaceful country-style living with all the space you've been looking for! Walk in and experience the large living and dining areas plus a home office and additional sun room area for entertaining! The rooms have ample space & pretty windows for lots of natural light. A great place to call your own! This charming property features spacious living areas, generously sized bedrooms, a bright kitchen with abundant cabinetry and a large screened-in porch perfect for enjoying the outdoors year-round. So much foliage and large Pecan trees with a cool Southeast breeze! Step outside and fall in love with the expansive yard shaded by mature trees, offering plenty of room for gard

Key facts

• Bright kitchen
• Expansive yard
• Sun room

Tags

• LARGE LIVING AREAS
• HOME OFFICE
• SUN ROOM
• BRIGHT KITCHEN
• LARGE SCREENED-IN PORCH
• EXPANSIVE YARD

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Total of 3 parking spaces; Detached garage (1 garage space) with garage door opener, garage faces rear; Carport providing 2 covered spaces; 3 covered parking spaces total
• Security: Motorized gate
• Utilities: Public water; City sewer; Cable available; Paved road access
• Home design: Not new construction
• Construction: Siding exterior; Metal roof; Pillar/post/pier and slab foundation; Built on a 0.5-acre lot
• Exterior features: Mature trees; Motorized gate; Workshop / storage structure; Covered patio; Deck / balcony / porch; Patio slab; Screened patio

Interior

• Kitchen: Smooth electric cooktop / electric range; Dishwasher; Microwave; Refrigerator; Laminate countertops
• Bedrooms: Split bedrooms
• Flooring: Laminate flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Laminate countertops; Bonus room; Ceiling fans; Office / study; Split-bedroom layout; Drapes on windows; Electric water heater (located separately); Smooth electric cooktop / electric range; Dishwasher; Microwave; Refrigerator; Washer and Dryer
• Laundry & utility: Laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (3.4% below list).
• Recommended offer: $188k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 0.3% in Palmhurst — 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 63/100 on livability (#895 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: crime C-, amenities F, commute F.
• Sharyland ISD (urban): math 34% / reading 44% proficiency, ranked #406 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jessie L Jensen El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 543 students, 88% FRL); Sharyland North J H (math 46% / reading 42%, grade D, #512 of 1,662 statewide, top 32%, 806 students, 74% FRL) — zoned schools average 81% FRL vs 55% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 623 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• This rent runs 41% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.5% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,350 (3.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.97% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.45% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.15×
• Total profit: $117,230
• Equity at exit: $175,671

10-year hold

• IRR: 23.5%
• Equity multiple: 7.11×
• Total profit: $333,673
• Equity at exit: $378,842

Cash invested: $54,600 (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 78573

• Home prices YoY: 8.0%
• Rents YoY: 2.5%
• Active inventory: 623
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$195 /mo · $2,336/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $189

Break-even live

Break-even rent $1,644

Max offer price $195,000

Occupancy floor 85%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2225 Dorado Dr Mission, TX	3.0	2.5	1839	$2,100	$1.14	21d	1	0.79mi
2313 Dorado Dr Mission, TX	3.0	2.5	1800	$2,100	$1.17	43d	1	0.83mi
2319 Dorado Dr Mission, TX	3.0	2.5	1583	$1,900	$1.20	43d	1	0.85mi
1412 E 28th St Mission, TX	4.0	3.0	2068	$2,300	$1.11	23d	1	1.18mi
3108 Highland Park Ave Mission, TX	4.0	2.0	1400	$1,800	$1.29	18d	1	1.23mi
3401 N Mayberry Rd Mission, TX	3.0	2.0	1150	$961	$0.84	43d	1	1.31mi
2516 Wisteria Dr Mission, TX	4.0	3.0	2066	$2,800	$1.36	14d	1	1.35mi
2514 Yarrow St Mission, TX	3.0	2.0	1682	$2,700	$1.61	23d	1	1.38mi
3104 E Kennedy Ave Alton, TX	3.0	2.5	1642	$2,600	$1.58	43d	1	1.38mi
2609 May Ave Mission, TX	3.0	2.0	1670	$1,800	$1.08	43d	1	1.38mi
1420 S Xanthia St Unit 6 Alton, TX	3.0	2.0	1065	$1,350	$1.27	23d	1	1.44mi
1421 S Yankton St Unit 6 Alton, TX	3.0	2.0	1065	$1,350	$1.27	23d	1	1.45mi
2111 E 25th St Mission, TX	3.0	2.5	2239	$2,000	$0.89	43d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $195,000 Active 17 DOM
2. 2026-06-17
   days on market $195,000 Active 16 DOM
3. 2026-06-16
   days on market $195,000 Active 15 DOM
4. 2026-06-15
   days on market $195,000 Active 14 DOM
5. 2026-06-14
   days on market $195,000 Active 12 DOM
6. 2026-06-10
   days on market $195,000 Active 9 DOM
7. 2026-06-09
   days on market $195,000 Active 8 DOM
8. 2026-06-08
   days on market $195,000 Active 7 DOM
9. 2026-06-07
   days on market $195,000 Active 6 DOM
10. 2026-06-03
    days on market $195,000 Active 2 DOM
11. 2026-06-02
    remarks 695-char remark
12. 2026-06-02
    listed $195,000 Active 1 DOM

ⓘ 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: $2,336 · $195/mo
• Projected year-2 tax: $3,568 · $297/mo
• Expected delta: +$1,232/yr (+$103/mo · 52.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,602
• − Mortgage interest: −$10,923
• − Property taxes: −$2,336
• − Insurance: −$975
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$5,673
• Taxable loss: −$921
• Est. tax savings @ 24.0%: +$221
• After-tax cash flow: $2,494/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: Sharyland ISD
• NCES district ID: 4839930
• Math proficiency: 34% ▼ -35.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $57,792
• Composite: 34.38/100
• National rank: #5214
• State rank: #406 of 826 in TX

Livability — Palmhurst

• Score: 63/100
• State rank: #895
• US rank: #16053

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmhurst, TX
• County: Hidalgo County · 623,128 people
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 44,809
• Household income: $55,000
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 855.0

Population outlook (Hidalgo County) Hauer SSP2

• Today (2025): 955,232 people
• By 2030: 1,009,774 · +5.7%
• By 2040: 1,120,332 · +17.3%
• By 2050: 1,225,036 · +28.2%
• By 2075: 1,439,189 · +50.7%
• By 2100: 1,533,429 · +60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 63% White 3%
• Hispanic origin (detail): Mexican 94%
• Foreign-born: 28% · Canada
• Languages at home: 12% English-only · Spanish 88%

Political lean MEDSL · Hidalgo

• 2024 margin: Toss-up / Even · D 48.1% · R 51.0%
• 2008→2024 swing: -41.6pp toward R · 2008: 38.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+17.1 2016: D+40.5 2012: D+41.8 2008: D+38.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.95%
• Current HPI: 242.0711
• Rent YoY: ▲ 2.45%
• Metro: McAllen-Edinburg-Mission, 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

• 2026-06-01 Listed $195,000 MCALLENMLS

Property tax history

+7.2%/yr

Latest (2025): $2,336 · +9.9% YoY. Source: county tax records.