3005 Old Alice Rd Unit 1400 F · Brownsville, TX 78521

$144,000

3 bd · 2.0 ba · 1,304 sqft · Condo · 138 Days on market

Built 1974 Good condition $110/sqft · 16% below area Est $172k · 16% under

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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).

• ARV discount +14.8/15.0
• Cash flow +14.1/30.0
• 1% rule +7.4/10.0
• Rent growth +4.5/5.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. Pool, resaca and common areas privileges, a must-see unit!! Condominium is upstairs.

Key facts

• Pool
• Pool
• Built 1974

Tags

• HIGHLY DESIRABLE LOCATION
• 2 MINUTES FROM SUNRISE MALL
• 2 MINUTES FROM THE EXPRESSWAY
• POOL
• COMMON AREAS PRIVILEGES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $144k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $20 ($241/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 5.0% in Brownsville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 79/100 on livability (#62 in TX, #2,311 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities D, crime D-.
• Brownsville ISD (urban): math 20% / reading 34% proficiency, ranked #710 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 365 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).
• At $1,781/mo this rent would consume 48% of the median local household income ($45k/yr) (locally 2682% 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 $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $40k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D 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: 1.24% ✓
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 6.7

CMA / ARV

• ARV (median comp): $171,904
• List price: $144,000
• Delta: -16.23%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.69×
• Total profit: $-12,372
• Equity at exit: $21,471

10-year hold

• IRR: 8.7%
• Equity multiple: 1.86×
• Total profit: $34,809
• Equity at exit: $12,450

Cash invested: $40,320 (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 78521

• Home prices YoY: -26.0%
• Rents YoY: 8.2%
• Active inventory: 365
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,781 high
• Mortgage (P&I): −$755
• Tax est. 1.5%: −$180 /mo · $2,160/yr
• Insurance: −$60
• HOA est. from 1 same-building comp: −$392
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $20

Break-even live

Break-even rent $1,756

Max offer price $144,000

Occupancy floor 94%

Sensitivity live

Price	-10% $120	-5% $70	+0% $20	+5% $-30	+10% $-79
Rent	-10% $-121	-5% $-50	+0% $20	+5% $90	+10% $161
Rate	-1.0pp $93	-0.5pp $57	base $20	+0.5pp $-17	+1.0pp $-55

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Old Alice Rd Unit 1100 H Brownsville, TX	2.0	1.0	1005	$1,500	$1.49	44d	1	0.04mi
375 Media Luna Rd Brownsville, TX	1.0–3.0	1.0–2.0	940	$1,404	$1.49	14d	2	0.21mi
501 Geraldine Ln Brownsville, TX	4.0	2.0	1615	$1,900	$1.18	21d	1	0.53mi
35 La Paz Ct Brownsville, TX	3.0	2.5	1660	$1,900	$1.14	14d	1	0.53mi
715 Continental Dr #3 Brownsville, TX	3.0	2.5	1664	$2,000	$1.20	14d	1	0.58mi
95 Poinciana Dr Brownsville, TX	1.0–3.0	1.5–2.0	1130	$2,500	$2.21	44d	2	0.60mi
95 Poinciana Dr Brownsville, TX	2.0–3.0	2.0	1218	$2,600	$2.13	14d	2	0.60mi
714 Continental Dr #3 Brownsville, TX	3.0	2.5	1482	$2,400	$1.62	44d	1	0.63mi
2034 Toluca Dr Brownsville, TX	3.0	2.0	1669	$2,000	$1.20	21d	1	0.66mi
1815 Sancho Panza St Brownsville, TX	4.0	3.0	1784	$2,350	$1.32	44d	1	0.67mi
2100 W San Marcelo Blvd Brownsville, TX	2.0–3.0	2.0–2.5	1069	$1,500	$1.40	44d	2	0.68mi
2901 Central Blvd Unit 202 Brownsville, TX	2.0	2.0	1176	$1,400	$1.19	21d	1	0.74mi
2100 W San Marcelo Blvd Apt 185 Brownsville, TX	2.0	2.0	1024	$1,500	$1.46	21d	1	0.76mi
2425 Barnard Rd Brownsville, TX	1.0–2.0	1.0–2.0	886	$1,165	$1.31	14d	12	0.77mi
2425 Barnard Rd Unit A-13 Brownsville, TX	2.0	2.0	1137	$1,250	$1.10	44d	1	0.78mi
2425 Barnard Rd Unit ujnit 1-A Brownsville, TX	3.0	1.5	1300	$1,600	$1.23	44d	1	0.78mi
424 Gilson Rd Brownsville, TX	3.0	2.0	1399	$1,500	$1.07	44d	1	0.83mi
15 Valles Ct Brownsville, TX	3.0	2.0	1715	$2,350	$1.37	14d	1	0.84mi
322 McFadden Dr Unit 14 Brownsville, TX	3.0	3.0	1850	$2,200	$1.19	44d	1	0.86mi
142 Country Club Rd Brownsville, TX	3.0	2.5	1460	$1,800	$1.23	44d	1	0.96mi
10 Country Club Rd Unit A Brownsville, TX	2.0	2.0	1200	$1,450	$1.21	44d	1	1.00mi
11 Country Club Rd Brownsville, TX	2.0	2.0	1200	$1,600	$1.33	21d	1	1.01mi
2393 McAllen Rd Unit D1-7 Brownsville, TX	2.0	1.5	1040	$1,400	$1.35	21d	1	1.04mi
124 Barcelona Ave Brownsville, TX	3.0	2.0	1708	$2,900	$1.70	21d	1	1.09mi
801 Tropical Dr Unit 3 Brownsville, TX	2.0	1.5	1000	$1,500	$1.50	44d	1	1.11mi
1617 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1179	$1,900	$1.61	21d	1	1.14mi
184 Stars Ave Unit 7 Brownsville, TX	3.0	2.0	1450	$1,900	$1.31	21d	1	1.16mi
1618 E Los Ebanos Blvd Brownsville, TX	3.0	2.0	1073	$1,700	$1.58	44d	1	1.16mi
42 Fairway Dr Brownsville, TX	2.0	2.0	1300	$2,500	$1.92	21d	1	1.19mi
3247 Noble Dr Brownsville, TX	3.0	2.0	1800	$2,000	$1.11	21d	1	1.20mi
1604 Yale Ave Brownsville, TX	3.0	1.0	1316	$1,800	$1.37	21d	1	1.21mi
1405 Harvard Ave Brownsville, TX	3.0	2.0	1426	$1,700	$1.19	44d	1	1.22mi
15 Sunnyside Ln Brownsville, TX	4.0	2.0	1436	$2,000	$1.39	14d	1	1.24mi
2459 Salerno Dr Brownsville, TX	3.0	3.0	1797	$2,500	$1.39	21d	1	1.27mi
605 Paredes Line Rd Brownsville, TX	2.0	1.5	900	$875	$0.97	44d	1	1.34mi
1904 Central Blvd Brownsville, TX	1.0–3.0	1.0–2.0	1046	$1,035	$0.99	44d	9	1.34mi
2700 Farm to Market Road 802 Brownsville, TX	1.0–3.0	1.0–2.0	990	$2,002	$2.02	14d	8	1.35mi
1653 W San Marcelo Blvd Brownsville, TX	3.0	2.0	1212	$1,700	$1.40	21d	1	1.48mi
1683 Artemisa Ave Brownsville, TX	3.0	2.0	1717	$1,950	$1.14	21d	1	1.48mi
3055 El Paso Rd Unit H-1 Brownsville, TX	2.0	2.0	900	$1,050	$1.17	44d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $144,000 Active 138 DOM
2. 2026-06-17
   days on market $144,000 Active 137 DOM
3. 2026-06-16
   days on market $144,000 Active 136 DOM
4. 2026-06-15
   days on market $144,000 Active 135 DOM
5. 2026-06-14
   days on market $144,000 Active 133 DOM
6. 2026-06-13
   days on market $144,000 Active 132 DOM
7. 2026-06-10
   days on market $144,000 Active 130 DOM
8. 2026-06-09
   days on market $144,000 Active 129 DOM
9. 2026-06-08
   days on market $144,000 Active 128 DOM
10. 2026-06-07
    days on market $144,000 Active 127 DOM
11. 2026-06-05
    days on market $144,000 Active 124 DOM
12. 2026-06-03
    days on market $144,000 Active 123 DOM
13. 2026-06-02
    days on market $144,000 Active 122 DOM
14. 2026-06-01
    days on market $144,000 Active 121 DOM
15. 2026-05-31
    days on market $144,000 Active 120 DOM
16. 2026-05-30
    days on market $144,000 Active 119 DOM
17. 2026-04-16
    price $144,000 294-char remark

    Show marketing remark (294 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. Pool, resaca and common areas privileges, a must-see unit!! Condominium is upstairs.

18. 2026-02-01
    listed $149,900 Active 294-char remark

    Show marketing remark (294 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. Pool, resaca and common areas privileges, a must-see unit!! Condominium is upstairs.

19. 2023-10-05
    soldstatus Closed 412-char remark

    Show marketing remark (412 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. A new roof was just installed on the entire building, plus the appliances would pass with the sale of the condominium. Pool, resaca and common areas privileges, a must see unit!! Condominium is upstais.

20. 2023-09-30
    status Pending 412-char remark

    Show marketing remark (412 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. A new roof was just installed on the entire building, plus the appliances would pass with the sale of the condominium. Pool, resaca and common areas privileges, a must see unit!! Condominium is upstais.

21. 2023-08-15
    price $135,300 412-char remark

    Show marketing remark (412 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. A new roof was just installed on the entire building, plus the appliances would pass with the sale of the condominium. Pool, resaca and common areas privileges, a must see unit!! Condominium is upstais.

22. 2023-06-02
    listed $145,300 Active 412-char remark

    Show marketing remark (412 chars)

    Very well maintained and spacious 3 bed, 2 full bath condo in a highly desirable location, in the middle of restaurants, shopping centers and just 2 minutes from Sunrise Mall and 2 minutes from the expressway. A new roof was just installed on the entire building, plus the appliances would pass with the sale of the condominium. Pool, resaca and common areas privileges, a must see unit!! Condominium is upstais.

23. 2022-06-24
    soldstatus Closed
24. 2022-06-02
    status Pending
25. 2022-05-06
    status Active
26. 2021-10-19
    listed $119,900 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,376
• − Mortgage interest: −$8,066
• − Property taxes: −$2,160
• − Insurance: −$720
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − HOA: −$4,704
• − Depreciation: −$4,189
• Taxable loss: −$1,884
• Est. tax savings @ 24.0%: +$452
• After-tax cash flow: $693/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 · 8 photos

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bathroom condo is in a desirable location with a good condition score. It has potential for cosmetic updates to increase its value, particularly in the kitchen and exterior.

Repairs flagged

• Minor Painting — Painted walls show some wear.
• Minor Kitchen cabinets — Dark cabinets could be updated for a fresh look.
• Minor Bathroom vanity — Standard fixtures could be replaced with more modern ones.
• Minor Exterior paint — Painted siding shows some wear and could be refreshed.
• Minor Landscaping — Landscaping appears maintained but not landscaped.

Value-add opportunities

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics.
• Both Kitchen cabinets — Modernizing the kitchen can increase both resale and rental value.
• Both Bathroom vanity — Upgrading the bathroom can enhance both resale and rental value.
• Both Exterior paint — Refreshing the exterior paint can improve curb appeal and increase both resale and rental value.
• Both Landscaping — Landscaping can enhance curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Painted walls show some wear.	Minor	$500–3,000
Kitchen cabinets · Dark cabinets could be updated for a fresh look.	Minor	$500–3,000
Bathroom vanity · Standard fixtures could be replaced with more modern ones.	Minor	$500–3,000
Exterior paint · Painted siding shows some wear and could be refreshed.	Minor	$500–3,000
Landscaping · Landscaping appears maintained but not landscaped.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics. ↑
• Both Kitchen cabinets — Modernizing the kitchen can increase both resale and rental value. ↑
• Both Bathroom vanity — Upgrading the bathroom can enhance both resale and rental value. ↑
• Both Exterior paint — Refreshing the exterior paint can improve curb appeal and increase both resale and rental value. ↑
• Both Landscaping — Landscaping can enhance curb appeal and increase both resale and rental value. ↑

ⓘ 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: Brownsville ISD
• NCES district ID: 4811680
• Math proficiency: 20% ▼ -36.00%
• Reading proficiency: 34% ▼ -13.00%
• Median HH income: $30,490
• Composite: 21.8/100
• National rank: #8249
• State rank: #710 of 826 in TX

Livability — Brownsville

• Score: 79/100
• State rank: #62
• US rank: #2311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsville, TX
• County: Cameron County · 310,734 people
• City population: 212,132
• Metro: Brownsville-Harlingen, TX
• Population (ZIP): 87,380
• Household income: $44,509
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 2682.0

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 45% White 3%
• Hispanic origin (detail): Mexican 91%
• Foreign-born: 30% · Canada
• Languages at home: 12% English-only · Spanish 88%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.45%
• Current HPI: 232.1072
• Rent YoY: ▲ 8.19%
• Metro: Brownsville-Harlingen, 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

+20.1% since first listed

10 events — show timeline

• 2026-04-16 Price Changed $144,000 RGVMLS
• 2026-02-01 Listed $149,900 RGVMLS
• 2023-10-05 Sold (MLS) — RGVMLS
• 2023-09-30 Pending — RGVMLS
• 2023-08-15 Price Changed $135,300 RGVMLS
• 2023-06-02 Listed $145,300 RGVMLS
• 2022-06-24 Sold (MLS) — RGVMLS
• 2022-06-02 Pending — RGVMLS
• 2022-05-06 Relisted — RGVMLS
• 2021-10-19 Listed $119,900 RGVMLS