1046 Hidalgo St · Mercedes, TX 78570

$399,900

None bd · None ba · 3,132 sqft · MultiFamily · 40 Days on market

Built 2023 Good condition 7,500 sqft lot $128/sqft · 31% above area Est $306k · 31% over ↓ 14% since listing

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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 +19.2/30.0
• Appreciation +7.3/10.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Introducing a great investment opportunity in a prime Mercedes location! This exceptional fourplex features two units featuring 2 bedrooms and 2 bathrooms as well as two units with 1 bedroom and 1 bathroom with all kitchen appliances included. The interiors showcase beautiful wood-look tile flooring, elegant quartz countertops, and modern elegant fixtures. Each unit also includes a dedicated laundry area, private backyard, and is conveniently located within minutes from the highway, grocery stores and more.

Key facts

• Private backyard
• 7,500 sq ft lot
• Built 2023

Tags

• DEDICATED LAUNDRY AREA
• PRIVATE BACKYARD
• KITCHEN APPLIANCES INCLUDED

Property features AI

Finance

• HOA & community: No homeowners association; Community features include curbs and sidewalks; Community contains 2 units

Exterior

• Parking: No garage; No carport; No covered parking; Zero total parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; City sewer; Paved road access; Four separate water meters
• Home design: Corner lot; Curb and gutters; Sidewalks
• Construction: HardiPlank-type siding; Composition shingle roof; Slab foundation; Built as non-new construction
• Exterior features: Sprinkler system; Other exterior features

Interior

• Kitchen: Electric cooktop; Stove/Range; Dishwasher; Disposal; Refrigerator
• Flooring: Tile flooring
• Heating & cooling: Central heating; Central air conditioning; Has heating and cooling
• Interior features: Ceiling fans; Walk-in closet(s); Double-pane energy-efficient windows
• Laundry & utility: Laundry closet; Washer/dryer connection; Electric water heater; Tankless water heater; Water heater located in laundry room

What this means for you Summary

Snapshot

• This is a 2×2bd/2ba + 2×1bd/1ba units multifamily listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive. Per door: $107/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.4% in Mercedes — 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 67/100 on livability (#547 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Mercedes ISD (suburban): math 12% / reading 21% proficiency, ranked #811 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Taylor El (math 17% / reading 12%, grade F, #4,048 of 4,322 statewide, top 95%, 410 students, 95% FRL); Mercedes H S (math 8% / reading 12%, grade F, #1,591 of 1,632 statewide, top 98%, 974 students, 91% FRL).
• Market conditions: 392 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($3k loan paydown + $18k appreciation (4.5% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~4 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 40 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $387,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $306,369
• List price: $399,900
• Delta: 30.53%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.97×
• Total profit: $108,844
• Equity at exit: $215,185

10-year hold

• IRR: 16.4%
• Equity multiple: 3.78×
• Total profit: $310,943
• Equity at exit: $362,254

Cash invested: $111,972 (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 78570

• Home prices YoY: 1.9%
• Active inventory: 392
• Price-to-rent: 30.2×

Monthly cashflow live

• Estimated rent: $4,042 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $430

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 84%

Sensitivity live

Price	-10% $706	-5% $568	+0% $430	+5% $291	+10% $153
Rent	-10% $110	-5% $270	+0% $430	+5% $589	+10% $749
Rate	-1.0pp $631	-0.5pp $531	base $430	+0.5pp $326	+1.0pp $221

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,208
▸ 2× units	1	1	$1,834
Total (4 units)			$4,042

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $399,900 Active 40 DOM
2. 2026-06-18
   days on market $399,900 Active 38 DOM
3. 2026-06-17
   days on market $399,900 Active 37 DOM
4. 2026-06-16
   days on market $399,900 Active 36 DOM
5. 2026-06-15
   days on market $399,900 Active 35 DOM
6. 2026-06-15
   days on market $399,900 Active 34 DOM
7. 2026-06-13
   days on market $399,900 Active 33 DOM
8. 2026-06-12
   days on market $399,900 Active 32 DOM
9. 2026-06-10
   days on market $399,900 Active 29 DOM
10. 2026-06-08
    days on market $399,900 Active 28 DOM
11. 2026-06-08
    days on market $399,900 Active 27 DOM
12. 2026-06-07
    days on market $399,900 Active 26 DOM
13. 2026-06-03
    days on market $399,900 Active 23 DOM
14. 2026-06-02
    days on market $399,900 Active 22 DOM
15. 2026-06-01
    days on market $399,900 Active 21 DOM
16. 2026-05-31
    days on market $399,900 Active 20 DOM
17. 2026-05-12
    listed $399,900 Active 512-char remark
18. 2026-02-27
    price $399,900

    Show marketing remark (512 chars)

    Introducing a great investment opportunity in a prime Mercedes location! This exceptional fourplex features two units featuring 2 bedrooms and 2 bathrooms as well as two units with 1 bedroom and 1 bathroom with all kitchen appliances included. The interiors showcase beautiful wood-look tile flooring, elegant quartz countertops, and modern elegant fixtures. Each unit also includes a dedicated laundry area, private backyard, and is conveniently located within minutes from the highway, grocery stores and more.

19. 2026-02-27
    price $399,900

    Show marketing remark (512 chars)

    Introducing a great investment opportunity in a prime Mercedes location! This exceptional fourplex features two units featuring 2 bedrooms and 2 bathrooms as well as two units with 1 bedroom and 1 bathroom with all kitchen appliances included. The interiors showcase beautiful wood-look tile flooring, elegant quartz countertops, and modern elegant fixtures. Each unit also includes a dedicated laundry area, private backyard, and is conveniently located within minutes from the highway, grocery stores and more.

20. 2025-05-12
    listed $415,000 Active

    Show marketing remark (512 chars)

    Introducing a great investment opportunity in a prime Mercedes location! This exceptional fourplex features two units featuring 2 bedrooms and 2 bathrooms as well as two units with 1 bedroom and 1 bathroom with all kitchen appliances included. The interiors showcase beautiful wood-look tile flooring, elegant quartz countertops, and modern elegant fixtures. Each unit also includes a dedicated laundry area, private backyard, and is conveniently located within minutes from the highway, grocery stores and more.

21. 2025-05-12
    listed $415,000 Active

    Show marketing remark (512 chars)

    Introducing a great investment opportunity in a prime Mercedes location! This exceptional fourplex features two units featuring 2 bedrooms and 2 bathrooms as well as two units with 1 bedroom and 1 bathroom with all kitchen appliances included. The interiors showcase beautiful wood-look tile flooring, elegant quartz countertops, and modern elegant fixtures. Each unit also includes a dedicated laundry area, private backyard, and is conveniently located within minutes from the highway, grocery stores and more.

22. 2024-10-08
    listed $428,000 Active
23. 2024-02-28
    status Pending
24. 2024-02-21
    historical Option
25. 2024-01-06
    historical $1,000
26. 2023-11-06
    listed $429,000 Active
27. 2023-11-06
    listed $429,000 Active
28. 2023-11-05
    listed $1,000
29. 2023-10-15
    historical $1,000
30. 2023-10-14
    listed $1,000
31. 2023-10-09
    price $430,000
32. 2023-10-09
    price $430,000
33. 2023-09-29
    listed $465,000 Active
34. 2023-07-08
    listed $465,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,504
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,880
• − Management: −$3,880
• − Depreciation: −$11,633
• Taxable loss: −$1,289
• Est. tax savings @ 24.0%: +$309
• After-tax cash flow: $5,464/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 · 12 photos

Good 80/100 Cosmetic rehab

This fourplex in Mercedes, TX is in good condition with modern finishes and a prime location. It's ready for a fresh coat of paint and landscaping to maximize its value.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both Replace ceiling fans — Improves air circulation and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace ceiling fans — Improves air circulation and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mercedes ISD
• NCES district ID: 4830250
• Math proficiency: 12% ▼ -26.00%
• Reading proficiency: 21% ▼ -10.00%
• Median HH income: $27,606
• Composite: 12.84/100
• National rank: #9596
• State rank: #811 of 826 in TX

Livability — Mercedes

• Score: 67/100
• State rank: #547
• US rank: #10619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mercedes, TX
• City population: 33,596
• Population (ZIP): 33,596

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 44% White 4%
• Hispanic origin (detail): Mexican 91%
• Foreign-born: 20% · Canada
• Languages at home: 18% English-only · Spanish 82%

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: ▲ 4.53%
• Current HPI: 238.8386
• Rent YoY: —
• Metro: —
• 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

-14.0% since first listed

18 events — show timeline

• 2026-05-12 Listed $399,900 MCALLENMLS
• 2026-02-27 Price Changed $399,900 RGVMLS
• 2026-02-27 Price Changed $399,900 MCALLENMLS
• 2025-05-12 Listed $415,000 RGVMLS
• 2025-05-12 Listed $415,000 MCALLENMLS
• 2024-10-08 Listed $428,000 MCALLENMLS
• 2024-02-28 Pending — MCALLENMLS
• 2024-02-21 Contingent — MCALLENMLS
• 2024-01-06 Rental Removed $1,000 APPFOLIO
• 2023-11-06 Listed $429,000 RGVMLS
• 2023-11-06 Listed $429,000 MCALLENMLS
• 2023-11-05 Listed for Rent $1,000 APPFOLIO
• 2023-10-15 Rental Removed $1,000 APPFOLIO
• 2023-10-14 Listed for Rent $1,000 APPFOLIO
• 2023-10-09 Price Changed $430,000 SPIBOR
• 2023-10-09 Price Changed $430,000 MCALLENMLS
• 2023-09-29 Listed $465,000 SPIBOR
• 2023-07-08 Listed $465,000 MCALLENMLS