2808 Longhorn Dr

Llano Grande, TX 78596

$178,000D

2 bd · 2.0 ba · 1,204 sqft · Built 2020 · Manufactured · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,430/mo
• Mortgage (P&I): −$933
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $-83/mo
• Annual: $-1,000/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• 1% rule: 0.80%
• Cash to close: $49,840

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $178k.
• At list price, monthly cash flow is $-83 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (19.7% below list).
• It's been on market 53 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (19.7% below list) — sets the bar for 1% rule.
• In year one you build about $191 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 56/100 on livability (#1,288 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B; Watch: amenities F, commute F, employment 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.
• Zoned schools: Cleckler/Heald El (math 20% / reading 22%, grade F, #3,492 of 4,322 statewide, top 81%, 948 students, 82% FRL); Beatriz G Garza Middle (math 26% / reading 37%, grade F, #997 of 1,662 statewide, top 61%, 958 students, 76% FRL); Weslaco East H S (math 24% / reading 26%, grade F, #1,250 of 1,632 statewide, top 77%, 2,004 students, 86% FRL) — zoned schools average 81% FRL vs 59% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 712 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.