3028 Azteca Dr

Llano Grande, TX 78596

$132,500D+

2 bd · 2.0 ba · 1,024 sqft · Built 2000 · Manufactured · Active · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,241/mo
• Mortgage (P&I): −$695
• Tax + insurance: −$221
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $65/mo
• Annual: $775/yr
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• 1% rule: 0.94%
• Cash to close: $37,100

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $132k. Condition is rated good.
• At list price, monthly cash flow is $65 ($775/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 $124k (6.4% below list).
• It's been on market 77 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (6.4% below list) — sets the bar for 1% rule.
• In year one you build about $142 of equity ($916 loan paydown + $-774 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: schools F, amenities F, commute 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d 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: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.