8302 Irene St · Olivarez, TX 78596

$165,600

3 bd · 2.0 ba · 1,696 sqft · SingleFamily public records · 54 Days on market

Built 2019 0.51 ac lot $98/sqft · 22% below area Est $207k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.3/30.0
• Appreciation +4.7/10.0
• 1% rule +3.2/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• DSCR +1.4/10.0

Listing remarks MLS

HUD owned property. Case #514-214860. HUD homes are sold As-Is. Broker must be registered with HUD to sell property. No repairs or alterations until after closing & funding. Enjoy country charm and room to breathe with this single-story home set on a spacious half-acre lot. A large wraparound covered porch creates the perfect place to relax, while the backyard storage building adds extra convenience. Inside, the home features a welcoming foyer entry and a separate laundry room with sink. Installed solar panels help keep electric costs down and add everyday value.

Key facts

• Half-acre lot
• 0.51 acre lot
• 2 parking spots

Tags

• HALF-ACRE LOT
• WRAPAROUND COVERED PORCH
• BACKYARD STORAGE BUILDING
• WELCOMING FOYER ENTRY
• SEPARATE LAUNDRY ROOM
• INSTALLED SOLAR PANELS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (18.5% below list).
• Recommended offer: $126k (23.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 51/100 on livability (#1,480 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime F, amenities 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: Raul A Gonzalez Jr El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 618 students, 92% FRL); Mary Hoge Middle (math 22% / reading 42%, grade F, #971 of 1,662 statewide, top 60%, 938 students, 93% 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 90% FRL vs 59% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 711 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $178 of equity ($1k loan paydown + $-967 appreciation (-0.6% local appreciation)).
• 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 54 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $14k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,099 (23.9% 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 54 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.82% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.79%
• DSCR: 0.74
• GRM: 10.2

CMA / ARV

• ARV (median comp): $207,460
• List price: $165,600
• Delta: -20.18%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7909 Big Valley Dr	0.25mi	3/2.0	1,640 (-3%)	2mo	$193,999	$118	81
723 W Mile 13 N	0.73mi	3/2.5	1,714 (+1%)	19mo	$319,000	$186	47

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

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.49×
• Total profit: $-23,470
• Equity at exit: $43,304

10-year hold

• IRR: -4.8%
• Equity multiple: 0.54×
• Total profit: $-21,549
• Equity at exit: $48,377

Cash invested: $46,368 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 711
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$868
• Tax from tax record: −$353 /mo · $4,232/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $-224

Break-even live

Break-even rent $1,633

Max offer price $126,099

Occupancy floor —

Sensitivity live

Price	-10% $-130	-5% $-177	+0% $-224	+5% $-270	+10% $-317
Rent	-10% $-330	-5% $-277	+0% $-224	+5% $-170	+10% $-117
Rate	-1.0pp $-140	-0.5pp $-181	base $-224	+0.5pp $-267	+1.0pp $-310

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: $41,400
• Closing costs: $4,968
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7601 Farm to Market 88 Unit 3 Weslaco, TX	3.0	2.0	1500	$1,350	$0.90	25d	1	0.61mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $165,600 Pending 54 DOM
2. 2026-06-04
   price $165,600 Active 52 DOM
3. 2026-06-03
   statusdays on market $180,000 Active 52 DOM
4. 2026-05-05
   status Active 578-char remark

   Show marketing remark (578 chars)

   HUD owned property. Case #514-214860. HUD homes are sold As-Is. Broker must be registered with HUD to sell property. No repairs or alterations until after closing & funding. Enjoy country charm and room to breathe with this single-story home set on a spacious half-acre lot. A large wraparound covered porch creates the perfect place to relax, while the backyard storage building adds extra convenience. Inside, the home features a welcoming foyer entry and a separate laundry room with sink. Installed solar panels help keep electric costs down and add everyday value.

5. 2026-04-10
   status Pending 578-char remark

   Show marketing remark (578 chars)

   HUD owned property. Case #514-214860. HUD homes are sold As-Is. Broker must be registered with HUD to sell property. No repairs or alterations until after closing & funding. Enjoy country charm and room to breathe with this single-story home set on a spacious half-acre lot. A large wraparound covered porch creates the perfect place to relax, while the backyard storage building adds extra convenience. Inside, the home features a welcoming foyer entry and a separate laundry room with sink. Installed solar panels help keep electric costs down and add everyday value.

6. 2026-03-13
   listed $180,000 Active 578-char remark

   Show marketing remark (578 chars)

   HUD owned property. Case #514-214860. HUD homes are sold As-Is. Broker must be registered with HUD to sell property. No repairs or alterations until after closing & funding. Enjoy country charm and room to breathe with this single-story home set on a spacious half-acre lot. A large wraparound covered porch creates the perfect place to relax, while the backyard storage building adds extra convenience. Inside, the home features a welcoming foyer entry and a separate laundry room with sink. Installed solar panels help keep electric costs down and add everyday value.

7. 2020-01-03
   price $162,000 429-char remark

   Show marketing remark (429 chars)

   Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

8. 2019-12-27
   soldstatus
9. 2019-12-26
   soldstatus Sold 429-char remark

   Show marketing remark (429 chars)

   Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

10. 2019-11-18
    status Pending 429-char remark

    Show marketing remark (429 chars)

    Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

11. 2019-11-17
    price $170,000 429-char remark

    Show marketing remark (429 chars)

    Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

12. 2019-11-09
    historical Option 429-char remark

    Show marketing remark (429 chars)

    Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

13. 2019-10-05
    listed $170,000 Active 429-char remark

    Show marketing remark (429 chars)

    Looking for a country home in Weslaco? This is a new 3br/2ba home that sits on 1/2 acre. The home sits on a cul-de-sac in a very quiet neighborhood. This is an ideal home for a family with plenty of room for a workshop. The home comes with a newly built wood shed. The backyard is fenced and decorated with country decor. Seller to credit $5,000 for driveway installation. Seller will also give $3,000 to buyer for closing costs.

ⓘ 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: $4,232 · $353/mo
• Projected year-2 tax: $4,232 · $353/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 24 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: $16,200
• − Mortgage interest: −$9,276
• − Property taxes: −$4,232
• − Insurance: −$828
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$4,817
• Taxable loss: −$5,546
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $-1,352/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: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Olivarez

• Score: 51/100
• State rank: #1480
• US rank: #25356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olivarez, TX
• City population: 35,400
• Population (ZIP): 38,942

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 (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

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: ▼ -0.58%
• Current HPI: 261.5117
• 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

+5.9% since first listed

10 events — show timeline

• 2026-05-05 Relisted — MCALLENMLS
• 2026-04-10 Pending — MCALLENMLS
• 2026-03-13 Listed $180,000 MCALLENMLS
• 2020-01-03 Price Changed $162,000 MCALLENMLS
• 2019-12-27 Sold (Public Records) — Public Records
• 2019-12-26 Sold (MLS) — MCALLENMLS
• 2019-11-18 Pending — MCALLENMLS
• 2019-11-17 Price Changed $170,000 MCALLENMLS
• 2019-11-09 Contingent — MCALLENMLS
• 2019-10-05 Listed $170,000 MCALLENMLS

Property tax history

+27.4%/yr

Latest (2025): $4,232 · +13.3% YoY. Source: county tax records.