1700 E 23rd St #15 · Mission, TX 78574

$90,000

2 bd · 1.0 ba · 720 sqft · Condo public records · 323 Days on market

Built 1985 $125/sqft · at area comps Est $91k · at est. $125/mo HOA · 11% of rent ↓ 25% since listing

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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 +20.9/30.0
• 1% rule +8.0/10.0
• ARV discount +8.0/15.0
• DSCR +6.7/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

Key facts

• Proximity to dining
• $125 HOA
• Built 1985

Tags

• PROXIMITY TO SHOPPING
• PROXIMITY TO DINING
• PROXIMITY TO ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.5% in Mission — 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 75/100 on livability (#148 in TX, #4,155 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools 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.
• Market conditions: 474 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 6.4

CMA / ARV

• ARV (median comp): $90,992
• List price: $90,000
• Delta: -1.09%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-6,451
• Equity at exit: $13,419

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $5,206
• Equity at exit: $7,782

Cash invested: $25,200 (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 78574

• Home prices YoY: -16.1%
• Active inventory: 474
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,170 high
• Mortgage (P&I): −$472
• Tax from tax record: −$164 /mo · $1,968/yr
• Insurance: −$38
• HOA: −$125
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $126

Break-even live

Break-even rent $1,011

Max offer price $90,000

Occupancy floor 84%

Sensitivity live

Price	-10% $177	-5% $151	+0% $126	+5% $100	+10% $75
Rent	-10% $33	-5% $80	+0% $126	+5% $172	+10% $218
Rate	-1.0pp $171	-0.5pp $149	base $126	+0.5pp $102	+1.0pp $79

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 N Glasscock Rd Lot 37 Mission, TX	1.0	1.0	419	$650	$1.55	45d	1	0.28mi
806 Ragland Rd Unit 1 Mission, TX	1.0	1.0	651	$925	$1.42	45d	1	1.16mi
800 Ragland Rd Unit 5 Mission, TX	1.0	1.0	651	$925	$1.42	45d	1	1.16mi
720 Ragland Rd #6 Mission, TX	1.0	1.0	651	$925	$1.42	45d	1	1.21mi
716 Ragland Rd #3 Mission, TX	1.0	1.0	651	$925	$1.42	45d	1	1.22mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $90,000 Active 323 DOM
2. 2026-06-17
   days on market $90,000 Active 322 DOM
3. 2026-06-16
   days on market $90,000 Active 321 DOM
4. 2026-06-15
   days on market $90,000 Active 320 DOM
5. 2026-06-14
   days on market $90,000 Active 318 DOM
6. 2026-06-10
   days on market $90,000 Active 315 DOM
7. 2026-06-09
   days on market $90,000 Active 314 DOM
8. 2026-06-08
   days on market $90,000 Active 313 DOM
9. 2026-06-07
   days on market $90,000 Active 312 DOM
10. 2026-06-03
    days on market $90,000 Active 308 DOM
11. 2026-06-02
    days on market $90,000 Active 307 DOM
12. 2026-06-01
    days on market $90,000 Active 306 DOM
13. 2026-05-31
    days on market $90,000 Active 305 DOM
14. 2026-05-31
    days on market $90,000 Active 304 DOM
15. 2026-05-20
    price $90,000 610-char remark

    Show marketing remark (610 chars)

    Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

16. 2026-04-25
    price $117,000 610-char remark

    Show marketing remark (610 chars)

    Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

17. 2026-04-13
    price $117,900 610-char remark

    Show marketing remark (610 chars)

    Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

18. 2026-03-10
    price $118,000 610-char remark

    Show marketing remark (610 chars)

    Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

19. 2025-07-30
    listed $119,000 Active 610-char remark

    Show marketing remark (610 chars)

    Your opportunity of owning a condominium that offers a blend of convenience and lifestyle benefits is here. Condos provide a low-maintenance living experience and allows residents to enjoy their living space without the hassle of yard work or external repairs. Moreover, this strategically located condo offers proximity to shopping, dining, and entertainment. Now, from an investment perspective, condos may appreciate in value, making them a potentially lucrative asset. Additionally, they can be more affordable than standalone homes, providing an entry point into homeownership for individuals or families.

20. 2025-06-29
    listed $119,900 Active
21. 2025-03-19
    soldstatus
22. 2005-10-17
    soldstatus
23. 1986-02-18
    soldstatus

ⓘ 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: $1,968 · $164/mo
• Projected year-2 tax: $1,968 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 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: $14,039
• − Mortgage interest: −$5,041
• − Property taxes: −$1,968
• − Insurance: −$450
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − HOA: −$1,500
• − Depreciation: −$2,618
• Taxable income: $215
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $1,457/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 — Mission

• Score: 75/100
• State rank: #148
• US rank: #4155

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mission, TX
• County: Hidalgo County · 623,128 people
• City population: 78,024
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 62,456
• Household income: $52,393
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 803.0

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 (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 62% White 2%
• Hispanic origin (detail): Mexican 93%
• Foreign-born: 33% · Canada
• Languages at home: 12% English-only · Spanish 87%

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: ▼ -44.13%
• Current HPI: 230.3323
• Rent YoY: —
• 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

-24.9% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $90,000 MCALLENMLS
• 2026-04-25 Price Changed $117,000 MCALLENMLS
• 2026-04-13 Price Changed $117,900 MCALLENMLS
• 2026-03-10 Price Changed $118,000 MCALLENMLS
• 2025-07-30 Listed $119,000 MCALLENMLS
• 2025-06-29 Listed $119,900 MCALLENMLS
• 2025-03-19 Sold (Public Records) — Public Records
• 2005-10-17 Sold (Public Records) — Public Records
• 1986-02-18 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,968 · +82.2% YoY. Source: county tax records.