Iris Plan · McAllen, TX 78504

$266,990

3 bd · 2.5 ba · 1,821 sqft · SingleFamily · 568 Days on market

Excellent condition

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Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing the Iris floor plan - the perfect blend of comfort and style for families! With 1,821 sq ft of living space and a total area of 2,303 sq ft, this 2-story home is designed to impress. Step inside to enjoy the open-concept layout that maximizes space and natural light. Upstairs, 3 bedrooms provide privacy and tranquility. The primary suite boasts a spacious bathroom with a large walk-in closet, double vanity sink, and luxurious finishes. Bedrooms 2 and 3 also feature walk-in closets for ample storage. The standard gameroom upstairs offers versatility for entertainment or study, accompanied by an additional bathroom for convenience. A utility closet makes laundry day a breeze. Personalize your home with upgrade options like a 4th bedroom, luxury kitchen appliances, and a covered back patio for outdoor enjoyment. An optional 5 ft. garage storage space adds practicality. Choose from stunning elevations in Traditional, Contemporary, Tuscan, or Farmhouse styles, each available in durable stucco, brick, or Hardie materials. Make the Iris your family's dream home today!

Key facts

• 2 garage spots
• Listed 567 days

🏗️ New construction. The $266,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $282,990.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $267k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (13.7% below list).
• Recommended offer: $230k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.0% in McAllen — 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 76/100 on livability (#119 in TX, #3,771 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Edinburg CISD (urban): math 20% / reading 34% proficiency, ranked #699 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: R C Flores-Mark A Zapata El (math 38% / reading 38%, grade F, #1,709 of 4,322 statewide, top 40%, 521 students, 80% FRL); Elias Longoria Sr Middle (math 16% / reading 35%, grade F, #1,236 of 1,662 statewide, top 76%, 804 students, 82% FRL); Edinburg North H S (math 29% / reading 38%, grade F, #1,011 of 1,632 statewide, top 63%, 2,672 students, 83% FRL) — zoned schools average 82% FRL vs 62% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 1252 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 140d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• This rent runs 34% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 568 days — a 12% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $230,432 (13.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 568 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $282,990
• List price: $266,990
• Delta: -5.65%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15617 N Brisas St	0.21mi	3/2.5	1,784 (-2%)	5mo	$301,990	$169	82
2923 Blossom St	0.22mi	4/3.0 (+1)	1,667 (-8%)	2mo	$282,990	$170	66
15527 Sereno St	0.20mi	3/2.5	2,212 (+22%)	2mo	$318,990	$144	64
2820 Linva Ave	1.16mi	4/2.5 (+1)	1,927 (+6%)	4mo	$269,500	$140	47
2501 Linva Ave	1.18mi	4/2.5 (+1)	1,927 (+6%)	4mo	$269,500	$140	47
13925 N 39th St	1.37mi	3/2.5	1,979 (+9%)	6mo	$298,000	$151	45
3100 N Adler Ave E	1.44mi	4/3.0 (+1)	1,945 (+7%)	2mo	$379,900	$195	45
13904 N 40th St	1.44mi	4/3.0 (+1)	1,908 (+5%)	7mo	$275,000	$144	44
3101 Academy Ave	1.08mi	3/2.5	2,196 (+21%)	4mo	$284,900	$130	36
1612 Crimson St	0.93mi	3/2.0	1,414 (-22%)	6mo	$168,900	$119	33
13909 36th St	1.29mi	4/2.5 (+1)	2,257 (+24%)	5mo	$380,000	$168	31
13818 N 38th Ln	1.40mi	4/3.0 (+1)	2,103 (+16%)	7mo	$295,000	$140	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-55,430
• Equity at exit: $42,195

10-year hold

• IRR: -14.1%
• Equity multiple: 0.20×
• Total profit: $-63,258
• Equity at exit: $24,468

Cash invested: $79,237 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 5 under contract
• Months of supply: 34.0 mo (3%/mo absorbed)
• Median asking: $268,990 ($168/sqft)
• Median days on market: 124 d
• This list price: 47% of active listings are priced below it
• ARV vs active asking: -7.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78504

• Home prices YoY: -29.4%
• Rents YoY: 2.6%
• Active inventory: 1252
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,304 high
• Mortgage (P&I): −$1,484
• Tax est. 1.5%: −$354 /mo · $4,245/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-135

Break-even live

Break-even rent $2,476

Max offer price $263,417

Occupancy floor —

Sensitivity live

Price	-10% $60	-5% $-37	+0% $-135	+5% $-233	+10% $-331
Rent	-10% $-317	-5% $-226	+0% $-135	+5% $-44	+10% $47
Rate	-1.0pp $7	-0.5pp $-63	base $-135	+0.5pp $-209	+1.0pp $-283

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: $70,748
• Closing costs: $8,490
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15505 Ebony St Edinburg, TX	3.0	2.0	1735	$1,450	$0.84	0d	1	0.80mi
13921 N 36th St McAllen, TX	4.0	2.5	2084	$2,450	$1.18	139d	1	1.27mi
13813 N 36th St McAllen, TX	4.0	4.0	2536	$3,900	$1.54	62d	1	1.36mi
4400 Caddo Ln McAllen, TX	4.0	2.5	2069	$3,000	$1.45	139d	1	1.40mi
13904 N 39th St Edinburg, TX	3.0	2.0	2020	$2,500	$1.24	140d	1	1.42mi

Listing history 50 events

1. 2026-09-24
   days on market $266,990 Active 568 DOM
2. 2026-09-23
   days on market $266,990 Active 567 DOM
3. 2026-09-22
   days on market $266,990 Active 566 DOM
4. 2026-09-21
   days on market $266,990 Active 565 DOM
5. 2026-09-20
   days on market $266,990 Active 564 DOM
6. 2026-09-19
   days on market $266,990 Active 563 DOM
7. 2026-09-18
   days on market $266,990 Active 562 DOM
8. 2026-09-17
   days on market $266,990 Active 561 DOM
9. 2026-09-16
   days on market $266,990 Active 560 DOM
10. 2026-09-15
    days on market $266,990 Active 559 DOM
11. 2026-09-14
    days on market $266,990 Active 558 DOM
12. 2026-09-13
    days on market $266,990 Active 557 DOM
13. 2026-09-12
    days on market $266,990 Active 556 DOM
14. 2026-09-11
    days on market $266,990 Active 555 DOM
15. 2026-09-05
    days on market $266,990 Active 549 DOM
16. 2026-09-04
    days on market $266,990 Active 548 DOM
17. 2026-09-03
    days on market $266,990 Active 547 DOM
18. 2026-08-31
    days on market $266,990 Active 544 DOM
19. 2026-08-30
    days on market $266,990 Active 543 DOM
20. 2026-08-29
    days on market $266,990 Active 542 DOM
21. 2026-08-28
    days on market $266,990 Active 541 DOM
22. 2026-08-27
    days on market $266,990 Active 540 DOM
23. 2026-08-26
    days on market $266,990 Active 539 DOM
24. 2026-08-25
    days on market $266,990 Active 538 DOM
25. 2026-08-24
    days on market $266,990 Active 537 DOM
26. 2026-08-23
    days on market $266,990 Active 536 DOM
27. 2026-08-22
    days on market $266,990 Active 535 DOM
28. 2026-08-21
    days on market $266,990 Active 534 DOM
29. 2026-08-20
    days on market $266,990 Active 533 DOM
30. 2026-08-19
    days on market $266,990 Active 532 DOM
31. 2026-08-18
    days on market $266,990 Active 531 DOM
32. 2026-08-17
    days on market $266,990 Active 530 DOM
33. 2026-08-16
    days on market $266,990 Active 529 DOM
34. 2026-08-15
    days on market $266,990 Active 528 DOM
35. 2026-08-14
    days on market $266,990 Active 527 DOM
36. 2026-08-13
    days on market $266,990 Active 526 DOM
37. 2026-08-12
    days on market $266,990 Active 525 DOM
38. 2026-08-11
    days on market $266,990 Active 524 DOM
39. 2026-08-10
    days on market $266,990 Active 523 DOM
40. 2026-08-09
    days on market $266,990 Active 522 DOM
41. 2026-08-08
    days on market $266,990 Active 521 DOM
42. 2026-08-06
    days on market $266,990 Active 519 DOM
43. 2026-08-05
    days on market $266,990 Active 518 DOM
44. 2026-08-04
    days on market $266,990 Active 517 DOM
45. 2026-08-03
    days on market $266,990 Active 516 DOM
46. 2026-07-31
    days on market $266,990 Active 513 DOM
47. 2026-07-29
    days on market $266,990 Active 511 DOM
48. 2026-07-27
    days on market $266,990 Active 509 DOM
49. 2026-07-25
    days on market $266,990 Active 507 DOM
50. 2026-07-24
    days on market $266,990 Active 506 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,652
• − Mortgage interest: −$15,852
• − Property taxes: −$4,245
• − Insurance: −$1,415
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − Depreciation: −$8,232
• Taxable loss: −$6,517
• Est. tax savings @ 24.0%: +$1,564
• After-tax cash flow: $-59/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.

Condition & rehab AI · 1 photo

Excellent 95/100 None rehab

This Iris floor plan home in McAllen, TX is in excellent condition with no visible repairs or maintenance needed. It offers a good return on investment with updates that can significantly increase its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New lighting fixtures — Enhances interior aesthetics and safety ↑

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary R C Flores-Mark A Zapata El F TX #1,709/4,322 Nat'l #21,128/41,679 Middle Elias Longoria Sr Middle F TX #1,236/1,662 Nat'l #10,204/14,009 High Edinburg North H S F TX #1,011/1,632 Nat'l #10,191/17,239

Schools (NCES district)

• District: Edinburg CISD
• NCES district ID: 4818180
• Math proficiency: 20% ▼ -34.00%
• Reading proficiency: 34% ▼ -11.00%
• Median HH income: $36,985
• Composite: 22.42/100
• National rank: #8114
• State rank: #699 of 826 in TX

B Composite livability gradescore 76/100

Livability — McAllen

• Score: 76/100
• State rank: #119
• US rank: #3771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McAllen, TX
• County: Hidalgo County · 955,232 people
• City population: 144,650
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 63,094
• Household income: $81,905
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 39% White 11% Asian 5%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 24% · Canada, South Korea, Vietnam
• Languages at home: 34% English-only · Spanish 62% Other Asian/Pacific 1% Tagalog/Filipino 1%

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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: ▼ -80.87%
• Current HPI: 194.1764
• Rent YoY: ▲ 2.57%
• Metro: McAllen-Edinburg-Mission, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+0.4% since first listed

2 events — show timeline

• 2026-01-01 Price Changed $266,990 Zillow
• 2025-03-06 Listed $265,990 Zillow