3304 N Palm Leaf Cir · La Homa, TX 78574

$340,000

None bd · None ba · 4,652 sqft · MultiFamily · 62 Days on market

Built 2005 Good condition 0.58 ac lot $73/sqft · 35% below area Est $519k · 35% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Excellent value-add multifamily opportunity in Mission, TX! This 7-unit property offers immediate income potential with room to increase returns through strategic improvements. The asset features a functional layout, ample on-site parking, and a spacious lot with flexibility for future enhancements. Investors will appreciate the opportunity to boost revenue through interior updates, improved tenant amenities, and operational efficiencies. The property lends itself well to adding features such as a shared laundry facility, covered parking or carports, and enhanced outdoor common areas like shaded seating or grilling spaces to support rent growth and retention. The lot also offers potential to expand or reconfigure parking, increasing overall usability and appeal. Conveniently located near schools, retail, and major roadways, this property is well-positioned for strong cash flow and long-term appreciation.

Key facts

• Spacious lot
• Interior updates
• 0.58 acre lot

Tags

• MULTIFAMILY OPPORTUNITY
• IMMEDIATE INCOME POTENTIAL
• AMPLE ON-SITE PARKING
• SPACIOUS LOT
• INTERIOR UPDATES
• IMPROVED TENANT AMENITIES

🏷️ Possibly a rental listed for sale. The $340,000 price doesn't fit this home's estimated sale value (~$519,395) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 7 × 2-bed/1-bath units multifamily listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive. Per door: $657/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $340k).
• Recommended offer: $320k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.5% vs local median 5.5% in La Homa — 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 56/100 on livability (#1,308 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• La Joya ISD (suburban): math 18% / reading 29% proficiency, ranked #759 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 474 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• At $8,792/mo this rent would consume 201% of the median local household income ($52k/yr) (locally 803% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y 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, 96% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $319,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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?
7. 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?
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: 2.59% ✓
• Cap rate: 22.51%
• Cash-on-cash: 57.93%
• DSCR: 3.58
• GRM: 3.2

CMA / ARV

• ARV (median comp): $519,395
• List price: $340,000
• Delta: -34.54%
• Verdict: UNDERPRICED
• Comps: 16 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 56.5%
• Equity multiple: 3.50×
• Total profit: $237,761
• Equity at exit: $50,695

10-year hold

• IRR: 61.4%
• Equity multiple: 7.14×
• Total profit: $584,504
• Equity at exit: $29,397

Cash invested: $95,200 (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: 22.6×

Monthly cashflow live

• Estimated rent: $8,792 medium
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,846
• Net cashflow: $4,596

Break-even live

Break-even rent $2,974

Max offer price $340,000

Occupancy floor 43%

Sensitivity live

Price	-10% $4,831	-5% $4,713	+0% $4,596	+5% $4,479	+10% $4,361
Rent	-10% $3,901	-5% $4,249	+0% $4,596	+5% $4,943	+10% $5,291
Rate	-1.0pp $4,767	-0.5pp $4,682	base $4,596	+0.5pp $4,508	+1.0pp $4,418

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	1	$8,792
Total (7 units)			$8,792

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $340,000 Active 62 DOM
2. 2026-06-17
   days on market $340,000 Active 61 DOM
3. 2026-06-16
   days on market $340,000 Active 60 DOM
4. 2026-06-15
   days on market $340,000 Active 59 DOM
5. 2026-06-14
   days on market $340,000 Active 57 DOM
6. 2026-06-13
   days on market $340,000 Active 56 DOM
7. 2026-06-10
   days on market $340,000 Active 54 DOM
8. 2026-06-09
   days on market $340,000 Active 53 DOM
9. 2026-06-08
   days on market $340,000 Active 52 DOM
10. 2026-06-07
    days on market $340,000 Active 51 DOM
11. 2026-06-05
    days on market $340,000 Active 48 DOM
12. 2026-06-03
    days on market $340,000 Active 47 DOM
13. 2026-06-02
    days on market $340,000 Active 46 DOM
14. 2026-06-01
    days on market $340,000 Active 45 DOM
15. 2026-05-31
    days on market $340,000 Active 44 DOM
16. 2026-05-31
    days on market $340,000 Active 43 DOM
17. 2026-04-17
    listed $340,000 Active 923-char remark

    Show marketing remark (923 chars)

    Excellent value-add multifamily opportunity in Mission, TX! This 7-unit property offers immediate income potential with room to increase returns through strategic improvements. The asset features a functional layout, ample on-site parking, and a spacious lot with flexibility for future enhancements. Investors will appreciate the opportunity to boost revenue through interior updates, improved tenant amenities, and operational efficiencies. The property lends itself well to adding features such as a shared laundry facility, covered parking or carports, and enhanced outdoor common areas like shaded seating or grilling spaces to support rent growth and retention. The lot also offers potential to expand or reconfigure parking, increasing overall usability and appeal. Conveniently located near schools, retail, and major roadways, this property is well-positioned for strong cash flow and long-term appreciation.

18. 2026-01-17
    status Active
19. 2026-01-10
    historical Option
20. 2025-11-06
    listed $365,000 Active
21. 2025-04-25
    price $375,000
22. 2025-03-21
    listed $390,000 Active
23. 2024-08-12
    listed $465,000 Active
24. 2023-04-12
    soldstatus Sold
25. 2023-02-28
    status Pending
26. 2022-12-08
    listed $450,000 Active
27. 2022-04-19
    soldstatus Sold
28. 2022-03-30
    status Pending
29. 2022-03-10
    historical Option
30. 2022-02-28
    listed $324,999 Active
31. 2019-08-31
    historical Withdrawn
32. 2018-06-06
    price $215,000
33. 2018-02-16
    price $277,900
34. 2017-12-19
    listed $280,000 Active
35. 2015-05-28
    soldstatus
36. 2015-05-28
    price $233,142
37. 2014-02-03
    listed $233,142

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% 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: $105,504
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$8,440
• − Management: −$8,440
• − Depreciation: −$9,891
• Taxable income: $52,887
• Est. tax owed @ 24.0%: −$12,693
• After-tax cash flow: $42,459/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 75/100 Cosmetic rehab

This 7-unit multifamily property in Mission, TX is in good condition with a good condition score of 75. It offers immediate income potential and can be further enhanced with cosmetic updates and additional amenities to boost its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Upgrading the kitchen appliances — Modern appliances can attract more tenants and increase rental value.
• Both Adding a shared laundry facility — This can improve tenant amenities and increase rental income.
• Both Installing covered parking or carports — This can provide additional amenities and increase tenant satisfaction.
• Both Enhancing outdoor common areas — This can attract more tenants and increase rental income by providing more amenities and a better living environment.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Upgrading the kitchen appliances — Modern appliances can attract more tenants and increase rental value. ↑
• Both Adding a shared laundry facility — This can improve tenant amenities and increase rental income. ↑
• Both Installing covered parking or carports — This can provide additional amenities and increase tenant satisfaction. ↑
• Both Enhancing outdoor common areas — This can attract more tenants and increase rental income by providing more amenities and a better living environment. ↑

ⓘ 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: La Joya ISD
• NCES district ID: 4826130
• Math proficiency: 18% ▼ -35.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $27,845
• Composite: 18.65/100
• National rank: #8891
• State rank: #759 of 826 in TX

Livability — La Homa

• Score: 56/100
• State rank: #1308
• US rank: #22643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Homa, TX
• County: Hidalgo County · 623,128 people
• City population: 62,456
• 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

+45.8% since first listed

21 events — show timeline

• 2026-04-17 Listed $340,000 MCALLENMLS
• 2026-01-17 Relisted — MCALLENMLS
• 2026-01-10 Contingent — MCALLENMLS
• 2025-11-06 Listed $365,000 MCALLENMLS
• 2025-04-25 Price Changed $375,000 MCALLENMLS
• 2025-03-21 Listed $390,000 MCALLENMLS
• 2024-08-12 Listed $465,000 MCALLENMLS
• 2023-04-12 Sold (MLS) — MCALLENMLS
• 2023-02-28 Pending — MCALLENMLS
• 2022-12-08 Listed $450,000 MCALLENMLS
• 2022-04-19 Sold (MLS) — MCALLENMLS
• 2022-03-30 Pending — MCALLENMLS
• 2022-03-10 Contingent — MCALLENMLS
• 2022-02-28 Listed $324,999 MCALLENMLS
• 2019-08-31 Delisted — MCALLENMLS
• 2018-06-06 Price Changed $215,000 MCALLENMLS
• 2018-02-16 Price Changed $277,900 MCALLENMLS
• 2017-12-19 Listed $280,000 MCALLENMLS
• 2015-05-28 Price Changed $233,142 MCALLENMLS
• 2015-05-28 Sold (MLS) — MCALLENMLS
• 2014-02-03 Listed $233,142 MCALLENMLS