8238 Lago Vista Dr · Monte Alto, TX 78538

$139,500

2 bd · 1.0 ba · 1,413 sqft · SingleFamily public records · 220 Days on market

Built 1993 $99/sqft · 16% below area Est $166k · 16% under ↓ 3% since listing

---

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).

• Cash flow +18.2/30.0
• ARV discount +14.6/15.0
• Appreciation +8.9/10.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Waterfront living at Delta Lake Resort! This beautiful 2-bedroom, 2-bath home is located in the exclusive gated community of Delta Lake Resort and offers serene lake views with direct water access. The open-concept layout features abundant natural light, spacious living areas, and a well-appointed kitchen with a new refrigerator (2024) and new induction range with convection oven & air fryer (2025). Recent updates include 3 mini-split heat pumps (2024-2025), new water heater (2024), and a shingle roof only 5 years old. Property features 4 covered parking spaces, including RV electrical & water hookups, plus propane connections for dryer and grill. Enjoy peaceful waterfront living perfect for relaxing, fishing, or entertaining!

Key facts

• Private bath
• Gated entrance
• Waterfront property

Tags

• WATERFRONT PROPERTY
• DIRECT ACCESS TO THE LAKE
• OPEN-CONCEPT LAYOUT
• WELL-EQUIPPED KITCHEN
• PRIVATE BATH
• GATED ENTRANCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $125 ($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 $130k (6.8% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#1,072 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Monte Alto ISD (rural): math 16% / reading 26% proficiency, ranked #777 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 143 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 $12k of equity ($964 loan paydown + $11k appreciation (7.8% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $122,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (median comp): $165,515
• List price: $139,500
• Delta: -13.00%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

7.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.63×
• Total profit: $63,674
• Equity at exit: $104,117

10-year hold

• IRR: 20.6%
• Equity multiple: 5.58×
• Total profit: $178,731
• Equity at exit: $204,918

Cash invested: $39,060 (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 78538

• Home prices YoY: 3.3%
• Active inventory: 143
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$112 /mo · $1,344/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $125

Break-even live

Break-even rent $1,141

Max offer price $139,500

Occupancy floor 85%

Sensitivity live

Price	-10% $204	-5% $165	+0% $125	+5% $86	+10% $46
Rent	-10% $23	-5% $74	+0% $125	+5% $177	+10% $228
Rate	-1.0pp $196	-0.5pp $161	base $125	+0.5pp $89	+1.0pp $52

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8504 Lago Vista Dr Edcouch, TX	1.0	1.0	1152	$1,300	$1.13	14d	1	0.67mi

Listing history 25 events

1. 2026-06-21
   days on market $139,500 Active 220 DOM
2. 2026-06-18
   price $139,500 Active 218 DOM
3. 2026-06-18
   days on market $144,000 Active 218 DOM
4. 2026-06-17
   days on market $144,000 Active 217 DOM
5. 2026-06-16
   days on market $144,000 Active 216 DOM
6. 2026-06-15
   days on market $144,000 Active 215 DOM
7. 2026-06-15
   days on market $144,000 Active 214 DOM
8. 2026-06-13
   days on market $144,000 Active 213 DOM
9. 2026-06-12
   days on market $144,000 Active 212 DOM
10. 2026-06-10
    days on market $144,000 Active 209 DOM
11. 2026-06-08
    days on market $144,000 Active 208 DOM
12. 2026-06-08
    days on market $144,000 Active 207 DOM
13. 2026-06-05
    days on market $144,000 Active 205 DOM
14. 2026-06-03
    days on market $144,000 Active 203 DOM
15. 2026-06-02
    days on market $144,000 Active 202 DOM
16. 2026-06-01
    days on market $144,000 Active 201 DOM
17. 2026-05-31
    days on market $144,000 Active 200 DOM
18. 2026-02-16
    price $144,000 744-char remark

    Show marketing remark (744 chars)

    Waterfront living at Delta Lake Resort! This beautiful 2-bedroom, 2-bath home is located in the exclusive gated community of Delta Lake Resort and offers serene lake views with direct water access. The open-concept layout features abundant natural light, spacious living areas, and a well-appointed kitchen with a new refrigerator (2024) and new induction range with convection oven & air fryer (2025). Recent updates include 3 mini-split heat pumps (2024-2025), new water heater (2024), and a shingle roof only 5 years old. Property features 4 covered parking spaces, including RV electrical & water hookups, plus propane connections for dryer and grill. Enjoy peaceful waterfront living perfect for relaxing, fishing, or entertaining!

19. 2025-11-12
    listed $149,000 Active 744-char remark

    Show marketing remark (744 chars)

    Waterfront living at Delta Lake Resort! This beautiful 2-bedroom, 2-bath home is located in the exclusive gated community of Delta Lake Resort and offers serene lake views with direct water access. The open-concept layout features abundant natural light, spacious living areas, and a well-appointed kitchen with a new refrigerator (2024) and new induction range with convection oven & air fryer (2025). Recent updates include 3 mini-split heat pumps (2024-2025), new water heater (2024), and a shingle roof only 5 years old. Property features 4 covered parking spaces, including RV electrical & water hookups, plus propane connections for dryer and grill. Enjoy peaceful waterfront living perfect for relaxing, fishing, or entertaining!

20. 2023-08-09
    soldstatus Sold 997-char remark

    Show marketing remark (997 chars)

    “Land Lease” Own a little piece of Heaven on Earth with a million dollar view. Enjoy tranquil evenings overlooking the lake jetskiiing, bird watching, boating or fishing every day at this gated community. Have dinner while enjoying the breathtaking sunset as it glistens over the glasslike water. This 2 bedroom 2 bath lake house includes a detached carport that sits across the way. The purchase of this home will include a long term lease on the property it sits on. For more information on how the lease on this community works please call Noemi before submitting any offers. 2022 lease will be based on the waterfront linear feet of the property. In 2021, the lease amount was $1,896.00. Prop Taxes were $1081.00 in 2021 There will be a mandatory background search that is required by the Delta Lake Irrigation District for each buyer before finalizing the sale. The sale of this home will be through a bill of sale and a warranty deed. No title policy will be made due to lease.

21. 2023-07-29
    status Pending 997-char remark

    Show marketing remark (997 chars)

    “Land Lease” Own a little piece of Heaven on Earth with a million dollar view. Enjoy tranquil evenings overlooking the lake jetskiiing, bird watching, boating or fishing every day at this gated community. Have dinner while enjoying the breathtaking sunset as it glistens over the glasslike water. This 2 bedroom 2 bath lake house includes a detached carport that sits across the way. The purchase of this home will include a long term lease on the property it sits on. For more information on how the lease on this community works please call Noemi before submitting any offers. 2022 lease will be based on the waterfront linear feet of the property. In 2021, the lease amount was $1,896.00. Prop Taxes were $1081.00 in 2021 There will be a mandatory background search that is required by the Delta Lake Irrigation District for each buyer before finalizing the sale. The sale of this home will be through a bill of sale and a warranty deed. No title policy will be made due to lease.

22. 2023-07-20
    price $134,900 997-char remark

    Show marketing remark (997 chars)

    “Land Lease” Own a little piece of Heaven on Earth with a million dollar view. Enjoy tranquil evenings overlooking the lake jetskiiing, bird watching, boating or fishing every day at this gated community. Have dinner while enjoying the breathtaking sunset as it glistens over the glasslike water. This 2 bedroom 2 bath lake house includes a detached carport that sits across the way. The purchase of this home will include a long term lease on the property it sits on. For more information on how the lease on this community works please call Noemi before submitting any offers. 2022 lease will be based on the waterfront linear feet of the property. In 2021, the lease amount was $1,896.00. Prop Taxes were $1081.00 in 2021 There will be a mandatory background search that is required by the Delta Lake Irrigation District for each buyer before finalizing the sale. The sale of this home will be through a bill of sale and a warranty deed. No title policy will be made due to lease.

23. 2022-11-12
    listed $148,000 Active 997-char remark

    Show marketing remark (997 chars)

    “Land Lease” Own a little piece of Heaven on Earth with a million dollar view. Enjoy tranquil evenings overlooking the lake jetskiiing, bird watching, boating or fishing every day at this gated community. Have dinner while enjoying the breathtaking sunset as it glistens over the glasslike water. This 2 bedroom 2 bath lake house includes a detached carport that sits across the way. The purchase of this home will include a long term lease on the property it sits on. For more information on how the lease on this community works please call Noemi before submitting any offers. 2022 lease will be based on the waterfront linear feet of the property. In 2021, the lease amount was $1,896.00. Prop Taxes were $1081.00 in 2021 There will be a mandatory background search that is required by the Delta Lake Irrigation District for each buyer before finalizing the sale. The sale of this home will be through a bill of sale and a warranty deed. No title policy will be made due to lease.

24. 2018-07-23
    soldstatus
25. 2012-06-18
    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: $1,344 · $112/mo
• Projected year-2 tax: $2,553 · $213/mo
• Expected delta: +$1,208/yr (+$101/mo · 89.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$7,814
• − Property taxes: −$1,344
• − Insurance: −$698
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$4,058
• Taxable loss: −$810
• Est. tax savings @ 24.0%: +$194
• After-tax cash flow: $1,698/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: Monte Alto ISD
• NCES district ID: 4831230
• Math proficiency: 16% ▼ -27.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $36,135
• Composite: 17.38/100
• National rank: #9069
• State rank: #777 of 826 in TX

Livability — Monte Alto

• Score: 60/100
• State rank: #1072
• US rank: #19024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,740
• Population (ZIP): 10,740

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 (98%)
• Race & ethnicity: Hispanic / Latino 98% Two or more races 58% White 2%
• Hispanic origin (detail): Mexican 96%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 25% · Canada
• Languages at home: 9% English-only · Spanish 90% Other Indo-European 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: ▲ 7.80%
• Current HPI: 244.519
• 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

-2.7% since first listed

8 events — show timeline

• 2026-02-16 Price Changed $144,000 MCALLENMLS
• 2025-11-12 Listed $149,000 MCALLENMLS
• 2023-08-09 Sold (MLS) — MCALLENMLS
• 2023-07-29 Pending — MCALLENMLS
• 2023-07-20 Price Changed $134,900 MCALLENMLS
• 2022-11-12 Listed $148,000 MCALLENMLS
• 2018-07-23 Sold (Public Records) — Public Records
• 2012-06-18 Sold (Public Records) — Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,344 · +12.9% YoY. Source: county tax records.