2320 Fairmont Ave · McAllen, TX 78504

$330,000

4 bd · 2.0 ba · 3,283 sqft · SingleFamily public records · 101 Days on market

Built 2006 7,339 sqft lot $101/sqft · 10% above area Est $300k · 10% over ↓ 8% 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 +15.8/30.0
• DSCR +4.9/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +3.1/5.0
• ARV discount +3.0/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 2-story DR Horton home located in North McAllen, featuring 4 beds, 2.5 baths w/over 3,000 sq. ft., minutes from N. 10th St. shopping, restaurants, entertainment, & the new Camp McAllen. Positioned off one of McAllen’s main four-lane thoroughfares, this property offers convenient access throughout the city. Mature oak trees & a covered front porch create a welcoming first impression. The main floor features a living & dining combo that flows into a wet bar area & a spacious kitchen with granite countertops, island, & abundant cabinetry, plus a second living area, a 1/2 bath, & a versatile bonus room that can serve as an office, study, playroom, or additional bedroom. The fully fenced backyard includes a covered patio & generous space for outdoor gatherings. Upstairs, you’ll find all bedrooms plus a loft/bonus living area. The primary suite offers multiple windows, a large walk-in closet, & an ensuite bath with double vanity, soaking tub with jets, & separate shower.

Key facts

• Multiple windows
• Wet bar area
• 2 story home

Tags

• 2 STORY HOME
• WET BAR AREA
• GRANITE COUNTERTOPS
• COVERED PATIO
• MULTIPLE WINDOWS
• LARGE WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $320k (3.0% below list).
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.7% 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.
• Mcallen ISD (urban): math 34% / reading 45% proficiency, ranked #440 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dr Pablo Perez (math 52% / reading 57%, grade C, #621 of 4,322 statewide, top 15%, 560 students, 50% FRL); Morris Middle (math 59% / reading 61%, grade B, #158 of 1,662 statewide, top 10%, 1,016 students, 52% FRL); Mcallen H S (math 30% / reading 57%, grade F, #704 of 1,632 statewide, top 43%, 2,133 students, 63% FRL) — zoned schools at 55% FRL track the district average.
• Zoned-school proficiency averages 53% at this address vs 40% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Mcallen ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.6%/yr); 898 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).
• At $3,201/mo this rent would consume 47% of the median local household income ($82k/yr) (locally 1468% 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 8 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 8.6

CMA / ARV

• ARV (median comp): $299,756
• List price: $330,000
• Delta: 10.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8424 N 24th St	0.02mi	5/4.0 (+1)	3,529 (+8%)	11mo	$450,000	$128	64
2408 Fullerton Ave	0.06mi	4/3.5	3,022 (-8%)	18mo	$325,000	$108	62
2504 Grayson Ave	0.14mi	4/2.5	2,792 (-15%)	8mo	$289,000	$104	60
2212 Duke Ave	0.24mi	4/2.5	2,850 (-13%)	7mo	$320,000	$112	59
2424 Fullerton Ave	0.10mi	5/3.0 (+1)	3,500 (+7%)	20mo	$320,000	$91	58
8215 N 22nd Ln	0.19mi	5/2.5 (+1)	3,679 (+12%)	12mo	$385,000	$105	54
2124 Kingsborough Ave	0.37mi	4/3.5	3,500 (+7%)	16mo	$595,000	$170	52

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-45,194
• Equity at exit: $49,204

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-32,224
• Equity at exit: $28,532

Cash invested: $92,400 (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 78504

• Home prices YoY: -29.4%
• Rents YoY: 2.6%
• Active inventory: 898
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,201 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$511 /mo · $6,132/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $150

Break-even live

Break-even rent $3,011

Max offer price $330,000

Occupancy floor 90%

Sensitivity live

Price	-10% $337	-5% $243	+0% $150	+5% $57	+10% $-37
Rent	-10% $-103	-5% $24	+0% $150	+5% $276	+10% $403
Rate	-1.0pp $316	-0.5pp $234	base $150	+0.5pp $64	+1.0pp $-23

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 Duke Ave McAllen, TX	4.0	3.0	2702	$2,400	$0.89	45d	1	0.48mi
9807 N 24th Ln McAllen, TX	4.0	3.5	2300	$3,700	$1.61	16d	1	0.89mi
9806 N 24th Ln McAllen, TX	4.0	3.5	2300	$3,700	$1.61	45d	1	0.90mi
9805 N 24th St McAllen, TX	4.0	3.5	2300	$3,700	$1.61	45d	1	0.92mi
9809 N 24th St McAllen, TX	4.0	3.5	2300	$4,500	$1.96	45d	1	0.92mi
9813 N 24th St McAllen, TX	4.0	3.5	2300	$3,700	$1.61	45d	1	0.93mi
10338 N 23rd Ln McAllen, TX	4.0	3.5	2563	$2,700	$1.05	46d	1	1.32mi
2608 Arroyo Ave McAllen, TX	4.0	4.5	3448	$5,500	$1.60	16d	1	1.40mi

Listing history 35 events

1. 2026-06-21
   days on market $330,000 Active 101 DOM
2. 2026-06-18
   days on market $330,000 Active 98 DOM
3. 2026-06-17
   days on market $330,000 Active 97 DOM
4. 2026-06-16
   days on market $330,000 Active 96 DOM
5. 2026-06-15
   days on market $330,000 Active 95 DOM
6. 2026-06-14
   days on market $330,000 Active 93 DOM
7. 2026-06-10
   days on market $330,000 Active 90 DOM
8. 2026-06-09
   days on market $330,000 Active 89 DOM
9. 2026-06-08
   days on market $330,000 Active 88 DOM
10. 2026-06-07
    days on market $330,000 Active 87 DOM
11. 2026-06-05
    days on market $330,000 Active 84 DOM
12. 2026-06-03
    days on market $330,000 Active 83 DOM
13. 2026-06-02
    days on market $330,000 Active 82 DOM
14. 2026-06-01
    days on market $330,000 Active 81 DOM
15. 2026-05-31
    days on market $330,000 Active 80 DOM
16. 2026-05-31
    days on market $330,000 Active 79 DOM
17. 2026-03-11
    listed $330,000 Active 1036-char remark

    Show marketing remark (1036 chars)

    Spacious 2-story DR Horton home located in North McAllen, featuring 4 beds, 2.5 baths w/over 3,000 sq. ft., minutes from N. 10th St. shopping, restaurants, entertainment, & the new Camp McAllen. Positioned off one of McAllen’s main four-lane thoroughfares, this property offers convenient access throughout the city. Mature oak trees & a covered front porch create a welcoming first impression. The main floor features a living & dining combo that flows into a wet bar area & a spacious kitchen with granite countertops, island, & abundant cabinetry, plus a second living area, a 1/2 bath, & a versatile bonus room that can serve as an office, study, playroom, or additional bedroom. The fully fenced backyard includes a covered patio & generous space for outdoor gatherings. Upstairs, you’ll find all bedrooms plus a loft/bonus living area. The primary suite offers multiple windows, a large walk-in closet, & an ensuite bath with double vanity, soaking tub with jets, & separate shower.

18. 2026-01-21
    historical $2,600
19. 2025-12-06
    listed $2,600
20. 2025-11-08
    historical $2,600
21. 2025-07-31
    listed $2,600
22. 2025-06-26
    historical $2,600
23. 2025-01-07
    listed $2,600
24. 2024-12-21
    historical $2,600
25. 2024-09-10
    listed $2,600
26. 2023-10-13
    listed $339,000 Active
27. 2023-06-23
    price $339,000
28. 2023-06-13
    price $345,000
29. 2023-05-11
    status Active
30. 2023-05-08
    status Pending
31. 2023-05-07
    historical Option
32. 2023-03-15
    listed $357,000 Active
33. 2018-03-26
    soldstatus
34. 2018-03-22
    soldstatus
35. 2013-09-03
    soldstatus

ⓘ 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: $6,132 · $511/mo
• Projected year-2 tax: $6,132 · $511/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 4/10 Moderate FEMA zone X · 21% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,415
• − Mortgage interest: −$18,485
• − Property taxes: −$6,132
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,073
• − Management: −$3,073
• − Depreciation: −$9,600
• Taxable loss: −$3,598
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $2,663/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: Mcallen ISD
• NCES district ID: 4829670
• Math proficiency: 34% ▼ -22.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $40,805
• Composite: 33.16/100
• National rank: #5551
• State rank: #440 of 826 in TX

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 · 623,128 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: 1468.0

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 (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%

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

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

-7.6% since first listed

19 events — show timeline

• 2026-03-11 Listed $330,000 MCALLENMLS
• 2026-01-21 Rental Removed $2,600 MCALLENMLS
• 2025-12-06 Listed for Rent $2,600 MCALLENMLS
• 2025-11-08 Rental Removed $2,600 MCALLENMLS
• 2025-07-31 Listed for Rent $2,600 MCALLENMLS
• 2025-06-26 Rental Removed $2,600 MCALLENMLS
• 2025-01-07 Listed for Rent $2,600 MCALLENMLS
• 2024-12-21 Rental Removed $2,600 MCALLENMLS
• 2024-09-10 Listed for Rent $2,600 MCALLENMLS
• 2023-10-13 Listed $339,000 MCALLENMLS
• 2023-06-23 Price Changed $339,000 MCALLENMLS
• 2023-06-13 Price Changed $345,000 MCALLENMLS
• 2023-05-11 Relisted — MCALLENMLS
• 2023-05-08 Pending — MCALLENMLS
• 2023-05-07 Contingent — MCALLENMLS
• 2023-03-15 Listed $357,000 MCALLENMLS
• 2018-03-26 Sold (Public Records) — Public Records
• 2018-03-22 Sold (Public Records) — Public Records
• 2013-09-03 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $6,132 · -2.8% YoY. Source: county tax records.